Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2022 shares | |
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, 2022 |
Amendment Flag | false |
Document Fiscal Year Focus | 2022 |
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 | Hong Sung Han |
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 | 2125-2051 |
Contact Personnel Fax Number | +82-0505001-0408 |
Consolidated Statements Of Fina
Consolidated Statements Of Financial Position $ in Thousands, ₩ in Millions | Dec. 31, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | ||
ASSETS [Abstract] | |||||
Cash and cash equivalents | ₩ 34,219,148 | $ 27,153,744 | ₩ 20,613,073 | ||
Financial assets at fair value through profit or loss ("FVTPL") | 19,860,573 | 15,759,858 | 13,497,234 | ||
Financial assets at fair value through other comprehensive income("FVTOCI") | 33,085,080 | 26,253,833 | 39,119,789 | ||
Securities at amortized cost | 28,268,516 | 22,431,770 | 17,086,274 | ||
Loans and other financial assets at amortized cost | 355,760,729 | [1] | 282,304,975 | 348,885,617 | [1] |
Investments in joint ventures and associates | 1,305,636 | 1,036,055 | 1,335,167 | ||
Investment properties | 387,707 | 307,655 | 389,495 | ||
Premises and equipment | 3,142,930 | 2,493,993 | 3,174,720 | ||
Intangible assets | 849,114 | 673,793 | 785,386 | ||
Assets held for sale | 13,772 | 10,929 | 26,327 | ||
Net defined benefit asset | 319,280 | 253,356 | 21,346 | ||
Current tax assets | 53,274 | 42,274 | 22,598 | ||
Deferred tax assets | 109,299 | 86,731 | 31,131 | ||
Derivative assets (Designated for hedging) | 37,786 | 29,984 | 106,764 | ||
Other assets | 3,061,552 | 2,429,417 | 2,088,950 | ||
Total assets | 480,474,396 | 381,268,367 | 447,183,871 | ||
LIABILITIES [Abstract] | |||||
Financial liabilities at fair value through profit or loss ("FVTPL") | 8,952,399 | 7,103,951 | 4,873,458 | ||
Deposits due to customers | 342,105,209 | 271,468,980 | 317,899,871 | ||
Borrowings | 28,429,603 | 22,559,596 | 24,755,459 | ||
Debentures | 44,198,486 | 35,072,597 | 44,653,864 | ||
Provisions | 545,865 | 433,158 | 576,134 | ||
Net defined benefit liability | 35,202 | 27,934 | 47,986 | ||
Current tax liabilities | 843,555 | 669,382 | 584,491 | ||
Deferred tax liabilities | 31,799 | 25,233 | 169,842 | ||
Derivative liabilities (Designated for hedging) | 202,911 | 161,015 | 27,584 | ||
Other financial liabilities | 22,811,868 | 18,101,783 | 24,233,226 | ||
Other liabilities | 690,157 | 547,657 | 556,853 | ||
Total liabilities | 448,847,054 | 356,171,286 | 418,378,768 | ||
EQUITY [Abstract] | |||||
Owners' equity | 28,761,897 | 22,823,279 | 25,796,927 | ||
Capital stock | 3,640,303 | 2,888,671 | 3,640,303 | ||
Hybrid securities | 3,112,449 | 2,469,805 | 2,294,381 | ||
Capital surplus | 682,385 | 541,490 | 682,385 | ||
Other equity | (2,423,392) | (1,923,022) | (2,167,614) | ||
Retained earnings | 23,750,152 | [2],[3] | 18,846,335 | 21,347,472 | [2],[3] |
Non-controlling interests | 2,865,445 | [4] | 2,273,802 | 3,008,176 | [4] |
Total equity | 31,627,342 | 25,097,081 | 28,805,103 | ||
Total liabilities and equity | ₩ 480,474,396 | $ 381,268,367 | ₩ 447,183,871 | ||
[1]Cash and cash equivalents are not included.[2]The earned surplus reserve in retained earnings amounted to 122,370 million won and 181,860 million won as of December 31, 2021 and 2022 in accordance with the Article 53 of the Financial Holding Company Act.[3]The regulatory reserve for credit losses in retained earnings amounted to 2,568,367 million won and 2,996,960 million won and as of December 31, 2021 and 2022, respectively in accordance with the relevant article.[4]The hybrid securities issued by Woori Bank amounting to 2,555,166 million won and 2,344,816 million won as of December 31, 2021 and 2022, respectively, are recognized as non-controlling interests. 144,923 million won and 113,995 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, 2021 and 2022, respectively. |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2022 KRW (₩) ₩ / shares | Dec. 31, 2022 USD ($) $ / shares | Dec. 31, 2021 KRW (₩) ₩ / shares | Dec. 31, 2020 KRW (₩) ₩ / shares | |
Statement of comprehensive income [abstract] | ||||
Interest income | ₩ 14,654,549 | $ 11,628,748 | ₩ 9,894,749 | ₩ 9,523,853 |
Financial assets at FVTPL | 106,698 | 84,667 | 45,803 | 48,612 |
Financial assets at FVTOCI | 632,615 | 501,996 | 381,814 | 437,527 |
Financial assets at amortized cost | 13,915,236 | 11,042,085 | 9,467,132 | 9,037,714 |
Interest expense | (5,957,970) | (4,727,798) | (2,909,028) | (3,525,341) |
Net interest income (Notes 11, 30 and 41) | 8,696,579 | 6,900,950 | 6,985,721 | 5,998,512 |
Fee and commission income | 2,499,700 | 1,983,574 | 2,171,705 | 1,694,016 |
Fees and commissions expense | (789,530) | (626,512) | (700,930) | (679,977) |
Net fees and commissions income (Notes 11, 31 and 41) | 1,710,170 | 1,357,062 | 1,470,775 | 1,014,039 |
Dividend income (Notes 11, 32 and 41) | 159,982 | 126,950 | 309,211 | 138,543 |
Net gain on financial instruments at FVTPL (Notes 11, 33 and 41) | 238,502 | 189,257 | 325,751 | 421,709 |
Net gain on financial assets at FVTOCI (Notes 11 and 34) | (21,498) | (17,059) | 32,624 | 24,138 |
Net gain arising on financial assets at amortized cost (Note 11) | 74,204 | 58,883 | 107,317 | 44,443 |
Impairment losses due to credit loss (Notes 35 and 41) | (885,272) | (702,485) | (536,838) | (784,371) |
General and administrative expenses (Notes 36 and 41) | (4,529,890) | (3,594,580) | (4,147,411) | (3,956,181) |
Other net operating expense (Notes 11, 26, 36 and 41) | (1,012,253) | (803,247) | (887,401) | (820,438) |
Operating income | 4,430,524 | 3,515,731 | 3,659,749 | 2,080,394 |
Share of gain of joint ventures and associates (Note 13) | 69,996 | 55,545 | 62,196 | 101,077 |
Other non-operating income (expense) | 47,050 | 37,335 | (34,900) | (180,220) |
Non-operating income (expense) | 117,046 | 92,880 | 27,296 | (79,143) |
Non-operating income (expense) (Note 37) | 4,547,570 | 3,608,610 | 3,687,045 | 2,001,251 |
Income tax expense (Note 38) | (1,178,496) | (935,166) | (924,766) | (486,002) |
Net income | 3,369,074 | 2,673,444 | 2,762,279 | 1,515,249 |
Other comprehensive income [abstract] | ||||
Net gain (loss) on valuation of equity securities at FVTOCI | (30,146) | (23,921) | 34,069 | 47,246 |
Changes in capital due to equity method | (4,527) | (3,592) | (2,607) | (2,065) |
Remeasurement gain (loss) related to defined benefit plan | 251,440 | 199,524 | 65,067 | 9,783 |
Items that will not be reclassified to profit or loss | 216,767 | 172,011 | 96,529 | 54,964 |
Net gain (loss) on valuation of debt securities at FVTOCI | (463,725) | (367,978) | (184,396) | 12,114 |
Changes in capital due to equity method | 5,139 | 4,078 | 4,133 | (233) |
Net gain (loss) on foreign currency translation of foreign operations | 32,536 | 25,818 | 246,808 | (153,472) |
Net gain(loss) on valuation of hedges of net investments in foreign operations | (20,701) | (16,427) | ||
Net gain (loss) on valuation of cash flow hedge | (9,835) | (7,804) | 7,107 | 4,420 |
Items that may be reclassified to profit or loss | (456,586) | (362,313) | 73,652 | (137,171) |
Other comprehensive income(loss), net of tax | (239,819) | (190,302) | 170,181 | (82,207) |
Total comprehensive income | 3,129,255 | 2,483,142 | 2,932,460 | 1,433,042 |
Net income attributable to: | ||||
Net income attributable to owners | 3,186,772 | 2,528,783 | 2,542,844 | 1,307,266 |
Net income attributable to non-controlling interests | 182,302 | 144,661 | 219,435 | 207,983 |
Total comprehensive income attributable to: | ||||
Comprehensive income attributable to owners | 2,954,145 | 2,344,188 | 2,700,672 | 1,233,097 |
Comprehensive income attributable to non-controlling interests | ₩ 175,110 | $ 138,954 | ₩ 231,788 | ₩ 199,945 |
Earnings per share | ||||
Basic and diluted earnings per share | (per share) | ₩ 4,251 | $ 3,374 | ₩ 3,419 | ₩ 1,742 |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Equity $ in Thousands, ₩ in Millions | KRW (₩) | USD ($) | Capital Stock KRW (₩) | Capital Stock USD ($) | Hybrid Securities Of Other Equity Interest [Member] KRW (₩) | Hybrid Securities Of Other Equity Interest [Member] USD ($) | Capital surplus KRW (₩) | Capital surplus USD ($) | Other equity KRW (₩) | Other equity USD ($) | Retained earnings KRW (₩) | Retained earnings USD ($) | Owners' equity in total KRW (₩) | Owners' equity in total USD ($) | Non-controlling interests KRW (₩) | Non-controlling interests USD ($) |
Balance at beginning 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 | 3,611,338 | 1,895,366 | 626,111 | (2,347,472) | 19,268,265 | 23,053,608 | 3,672,237 | ||||||||
Comprehensive income [abstract] | ||||||||||||||||
Net income | 2,762,279 | 0 | 0 | 0 | 0 | 2,542,844 | 2,542,844 | 219,435 | ||||||||
Net gain (loss) on valuation of financial instruments at FVTOCI | (150,327) | 0 | 0 | 0 | (150,470) | 0 | (150,470) | 143 | ||||||||
Net gain (loss) due to disposal of equity securities at FVTOCI | 0 | 0 | 0 | 0 | (2,220) | 2,220 | 0 | 0 | ||||||||
Changes in capital due to equity method | 1,526 | 0 | 0 | 0 | 2,472 | (946) | 1,526 | 0 | ||||||||
Net gain (loss) on foreign currency translation of foreign operations | 246,808 | 0 | 0 | 0 | 234,583 | 0 | 234,583 | 12,225 | ||||||||
Net gain (loss) on valuation of cash flow hedge | 7,107 | 0 | 0 | 0 | 6,938 | 0 | 6,938 | 169 | ||||||||
Capital related to non-current assets held for sale | 0 | 0 | 0 | 0 | (947) | 947 | 0 | 0 | ||||||||
Remeasurement gain (loss) related to defined benefit plan | 65,067 | 0 | 0 | 0 | 65,251 | 0 | 65,251 | (184) | ||||||||
Trasnsactions with owners and others [abstract] | ||||||||||||||||
Comprehensive stock exchange | 64,162 | 28,965 | 0 | 35,197 | 0 | 0 | 64,162 | 0 | ||||||||
Dividends to common stocks | (377,748) | 0 | 0 | 0 | 0 | (368,357) | (368,357) | (9,391) | ||||||||
Acquisition of treasury stocks | (3,819) | 0 | 0 | 0 | (3,819) | 0 | (3,819) | 0 | ||||||||
Issuance of hybrid securities | 399,015 | 0 | 399,015 | 0 | 0 | 0 | 399,015 | 0 | ||||||||
Dividends to hybrid securities | (211,173) | 0 | 0 | 0 | 0 | (66,250) | (66,250) | (144,923) | ||||||||
Redemption of hybrid securities | (577,269) | 0 | 0 | 0 | (27,365) | 0 | (27,365) | (549,904) | ||||||||
Changes in subsidiaries' capital | (720) | 0 | 0 | 9,382 | 32,445 | (31,251) | 10,576 | (11,296) | ||||||||
Other changes in consolidated capital | (145,650) | 0 | 0 | 11,695 | 22,990 | 0 | 34,685 | (180,335) | ||||||||
Balance at end at Dec. 31, 2021 | 28,805,103 | $ 22,857,565 | 3,640,303 | $ 2,888,671 | 2,294,381 | $ 1,820,648 | 682,385 | $ 541,490 | (2,167,614) | $ (1,720,056) | 21,347,472 | $ 16,939,749 | 25,796,927 | $ 20,470,502 | 3,008,176 | $ 2,387,063 |
Comprehensive income [abstract] | ||||||||||||||||
Net income | 3,369,074 | 2,673,444 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3,186,772 | 2,528,783 | 3,186,772 | 2,528,783 | 182,302 | 144,661 |
Net gain (loss) on valuation of financial instruments at FVTOCI | (493,871) | (391,899) | 0 | 0 | 0 | 0 | 0 | 0 | (493,462) | (391,575) | 0 | 0 | (493,462) | (391,575) | (409) | (324) |
Net gain (loss) due to disposal of equity securities at FVTOCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10,254 | 8,137 | (10,254) | (8,137) | 0 | 0 | 0 | 0 |
Changes in capital due to equity method | 612 | 486 | 0 | 0 | 0 | 0 | 0 | 0 | 612 | 486 | 0 | 0 | 612 | 486 | 0 | 0 |
Net gain (loss) on foreign currency translation of foreign operations | 32,536 | 25,818 | 0 | 0 | 0 | 0 | 0 | 0 | 39,579 | 31,407 | 0 | 0 | 39,579 | 31,407 | (7,043) | (5,589) |
Loss on valuation of hedges of net investments in foreign operations | (20,701) | (16,427) | 0 | 0 | 0 | 0 | 0 | 0 | (20,701) | (16,427) | 0 | 0 | (20,701) | (16,427) | 0 | 0 |
Net gain (loss) on valuation of cash flow hedge | (9,835) | (7,804) | 0 | 0 | 0 | 0 | 0 | 0 | (9,835) | (7,804) | 0 | 0 | (9,835) | (7,804) | 0 | 0 |
Capital related to non-current assets held for sale | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (279) | (221) | 279 | 221 | 0 | 0 | 0 | 0 |
Remeasurement gain (loss) related to defined benefit plan | 251,440 | 199,524 | 0 | 0 | 0 | 0 | 0 | 0 | 251,180 | 199,318 | 0 | 0 | 251,180 | 199,318 | 260 | 206 |
Trasnsactions with owners and others [abstract] | ||||||||||||||||
Dividends to common stocks | (664,945) | (527,651) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (654,996) | (519,756) | (654,996) | (519,756) | (9,949) | (7,895) |
Issuance of hybrid securities | 1,167,283 | 926,268 | 0 | 0 | 818,068 | 649,157 | 0 | 0 | 0 | 0 | 0 | 0 | 818,068 | 649,157 | 349,215 | 277,111 |
Dividends to hybrid securities | (205,751) | (163,269) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (91,756) | (72,811) | (91,756) | (72,811) | (113,995) | (90,458) |
Redemption of hybrid securities | (620,056) | (492,029) | 0 | 0 | 0 | (60,491) | (48,001) | 0 | 0 | (60,491) | (48,001) | (559,565) | (444,028) | |||
Changes in subsidiaries' capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 27,365 | 21,714 | (27,365) | (21,714) | 0 | 0 | 0 | 0 |
Changes in non-controlling interests related to business combinations | 16,453 | 13,055 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 16,453 | 13,055 |
Balance at end at Dec. 31, 2022 | ₩ 31,627,342 | $ 25,097,081 | ₩ 3,640,303 | $ 2,888,671 | ₩ 3,112,449 | $ 2,469,805 | ₩ 682,385 | $ 541,490 | ₩ (2,423,392) | $ (1,923,022) | ₩ 23,750,152 | $ 18,846,335 | ₩ 28,761,897 | $ 22,823,279 | ₩ 2,865,445 | $ 2,273,802 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2020 KRW (₩) | |
Cash flows from operating activities | ||||
Net income | ₩ 3,369,074 | $ 2,673,444 | ₩ 2,762,279 | ₩ 1,515,249 |
Adjustments to net income | ||||
Income tax expense | 1,178,496 | 935,166 | 924,766 | 486,002 |
Interest income | (14,654,549) | (11,628,748) | (9,894,749) | (9,523,853) |
Interest expense | 5,957,970 | 4,727,798 | 2,909,028 | 3,525,341 |
Dividend income | (159,982) | (126,950) | (309,211) | (138,543) |
Adjustments to net income (sub-total) | (7,678,065) | (6,092,734) | (6,370,166) | (5,651,053) |
Additions of expenses not involving cash outflows: | ||||
Loss on financial instruments at FVTPL | 815,706 | 647,283 | 16,869 | 44,863 |
Loss on financial assets at FVTOCI | 23,836 | 18,914 | 15,812 | 787 |
Impairment losses due to credit loss | 885,272 | 702,485 | 536,838 | 784,371 |
Loss on other provisions | 37,493 | 29,752 | 85,690 | 232,680 |
Retirement benefit | 165,063 | 130,981 | 177,303 | 174,628 |
Depreciation and amortization | 929,311 | 737,432 | 791,896 | 535,548 |
Net loss on foreign currency translation | 0 | 0 | 109,668 | 191,504 |
Loss on derivatives (designated for hedge) | 250,268 | 198,594 | 93,084 | 82,746 |
Loss on fair value hedge | 0 | 0 | 1,947 | 68,508 |
Loss on valuation of investments in joint ventures and associates | 28,861 | 22,902 | 19,816 | 24,525 |
Loss on disposal of investments in joint ventures and associates | 3,690 | 2,928 | 174 | 0 |
Loss on disposal of premises and equipment, intangible assets and other assets | 3,177 | 2,521 | 3,354 | 2,717 |
Impairment loss on premises and equipment, intangible assets and other assets | 260 | 207 | 656 | 8,763 |
Additions of expenses not involving cash outflows (sub-total) | 3,142,937 | 2,493,999 | 1,853,107 | 2,151,640 |
Deductions of income not involving cash inflows: | ||||
Gain on financial assets at FVTOCI | (2,338) | (1,855) | (48,436) | (24,925) |
Gain on other provisions | (55,327) | (43,904) | (1,591) | (2,450) |
Net profit on foreign currency translation | (3,180) | (2,523) | 0 | 0 |
Gain on derivatives (designated for hedge) | (71,179) | (56,483) | (61,271) | (67,395) |
Gain on fair value hedge | (257,910) | (204,658) | (106,253) | (9,646) |
Gain on valuation of investments in joint ventures and associates | (98,858) | (78,446) | (82,012) | (125,602) |
Gain on disposal of investments in joint ventures and associates | (599) | (475) | (70,834) | (3,470) |
Gain on disposal of premises and equipment, intangible assets and other assets | (55,852) | (44,320) | (51,083) | (9,715) |
Reversal of impairment loss on premises and equipment, intangible assets and other assets | (310) | (246) | (166) | (172) |
Profit from bargain purchase | 0 | 0 | 0 | (67,427) |
Other income | (15,879) | (12,602) | (35,717) | (20,600) |
Deductions of income not involving cash inflows (sub-total) | (561,432) | (445,512) | (457,363) | (331,402) |
Changes in operating assets and liabilities: | ||||
Financial instruments at FVTPL | (1,647,572) | (1,307,389) | 42,498 | (875,076) |
Loans and other financial assets at amortized cost | (5,986,828) | (4,750,697) | (32,419,399) | (26,617,542) |
Other assets | (1,314,877) | (1,043,388) | (983,680) | (89,918) |
Deposits due to customers | 23,536,088 | 18,676,470 | 23,830,469 | 27,378,173 |
Provisions | (24,041) | (19,077) | (12,278) | (184,112) |
Net defined benefit liability | (133,421) | (105,872) | (109,778) | (214,741) |
Other financial liabilities | (2,514,238) | (1,995,110) | 9,518,506 | (2,694,701) |
Other liabilities | 83,559 | 66,306 | 67,802 | (8,150) |
Changes in operating assets and liabilities (sub-total) | 11,998,670 | 9,521,243 | (65,860) | (3,306,067) |
Cash received (paid) from operating activities: | ||||
Interest income received | 14,189,016 | 11,259,337 | 9,351,055 | 9,558,119 |
Interest expense paid | (4,965,594) | (3,940,322) | (3,016,841) | (4,008,001) |
Dividends received | 159,993 | 126,958 | 309,071 | 138,562 |
Income tax paid | (1,030,480) | (817,712) | (565,539) | (315,422) |
Cash received from operating activities (sub-total) | 8,352,935 | 6,628,261 | 6,077,746 | 5,373,258 |
Net cash inflow (outflow) from operating activities | 18,624,119 | 14,778,701 | 3,799,743 | (248,375) |
Cash in-flows from investing activities [Abstract] | ||||
Disposal of financial instruments at FVTPL | 9,502,271 | 7,540,288 | 10,361,751 | 6,605,483 |
Disposal of financial assets at FVTOCI | 21,717,266 | 17,233,190 | 21,645,907 | 20,527,695 |
Redemption of securities at amortized cost | 5,872,961 | 4,660,340 | 6,425,062 | 5,661,472 |
Disposal of investments in joint ventures and associates | 249,763 | 198,193 | 195,758 | 410,940 |
Disposal of investment properties | 2,061 | 1,635 | 0 | 353 |
Disposal of premises and equipment | 44,839 | 35,581 | 2,890 | 22,828 |
Disposal of intangible assets | 978 | 776 | 846 | 634 |
Disposal of assets held for sale | 52,417 | 41,594 | 93,756 | 0 |
Net increase of other assets | 62,386 | 49,506 | 66,305 | 26,642 |
Cash in-flows from investing activities (sub-total) | 37,504,942 | 29,761,103 | 38,792,275 | 33,256,047 |
Cash out-flows from investing activities [Abstract] | ||||
Net cash out-flows of business combination | 0 | 0 | 0 | (313,058) |
Net cash out-flows from obtaining control | (378,394) | (300,265) | (1,638) | 0 |
Acquisition of financial instruments at FVTPL | (10,274,187) | (8,152,822) | (11,840,524) | (8,082,824) |
Acquisition of financial assets at FVTOCI | (16,110,501) | (12,784,083) | (30,522,971) | (23,044,741) |
Acquisition of securities at amortized cost | (16,873,194) | (13,389,299) | (6,435,692) | (2,380,448) |
Acquisition of investments in joint ventures and associates | (143,345) | (113,748) | (400,172) | (550,619) |
Acquisition of investment properties | 0 | 0 | 0 | (76,588) |
Acquisition of premises and equipment | (172,876) | (137,181) | (119,255) | (149,341) |
Acquisition of intangible assets | (174,749) | (138,668) | (138,882) | (114,854) |
Changes in subsidiaries | (346,386) | (274,866) | 0 | 0 |
Cash out-flows from investing activities (sub-total) | (44,473,632) | (35,290,932) | (49,459,134) | (34,712,473) |
Net cash outflow from investing activities | (6,968,690) | (5,529,829) | (10,666,859) | (1,456,426) |
Cash in-flows from financing activities [Abstract] | ||||
Net cash in-flows from hedging activities | 54,569 | 43,302 | 6,987 | 0 |
Net increase in borrowings | 2,881,675 | 2,286,681 | 3,199,712 | 2,033,851 |
Issuance of debentures | 23,402,694 | 18,570,619 | 32,674,966 | 23,082,798 |
Net increase of other liabilities | 513 | 407 | 3,489 | 3,971 |
Issuance of hybrid securities | 1,167,283 | 926,268 | 399,015 | 897,822 |
Paid-in capital increase on non-controlling interests | 0 | 0 | 1,623 | 45,749 |
Net increase in non-controlling equity liabilities | 1,847 | 1,466 | 10,685 | 0 |
Cash in-flows from financing activities (sub-total) | 27,508,581 | 21,828,743 | 36,296,477 | 26,064,191 |
Cash out-flows from financing activities [Abstract] | ||||
Net cash out-flows from hedging activities | 0 | 0 | 0 | (5,409) |
Redemption of debentures | (23,887,568) | (18,955,378) | (25,781,305) | (22,168,962) |
Redemption of lease liabilities | (187,531) | (148,811) | (177,593) | (204,794) |
New stock issue cost | 0 | 0 | (140) | 0 |
Acquisition of treasury stocks | 0 | 0 | (3,757) | 0 |
Dividends paid | (654,996) | (519,756) | (368,357) | (505,587) |
Redemption of hybrid securities | (643,000) | (510,236) | (587,650) | (598,850) |
Dividends paid on hybrid securities | (205,751) | (163,269) | (211,173) | (211,277) |
Dividends paid to non-controlling interest | (9,949) | (7,895) | (9,391) | (2,071) |
Changes in non-controlling interests | 0 | 0 | (81,410) | 0 |
Cash out-flows from financing activities (sub-total) | (25,588,795) | (20,305,345) | (27,220,776) | (23,696,950) |
Net cash inflow from financing activities | 1,919,786 | 1,523,398 | 9,075,701 | 2,367,241 |
Effects of exchange rate changes on cash and cash equivalents | 30,860 | 24,489 | 1,061,251 | (1,072,912) |
Net increase (decrease) in cash and cash equivalents | 13,606,075 | 10,796,759 | 3,269,836 | (410,472) |
Cash and cash equivalents, beginning of the period | 20,613,073 | 16,356,985 | 17,343,237 | 17,753,709 |
Cash and cash equivalents, end of the period | ₩ 34,219,148 | $ 27,153,744 | ₩ 20,613,073 | ₩ 17,343,237 |
General
General | 12 Months Ended |
Dec. 31, 2022 | |
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, W 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 Exchange ratio per share Number of Parent Woori Bank 676,000,000 1.0000000 676,000,000 Woori FIS Co., Ltd. 4,900,000 0.2999708 1,469,857 Woori Finance Research Institute Co., Ltd. 600,000 0.1888165 113,289 Woori Credit Information Co., Ltd. 1,008,000 1.1037292 1,112,559 Woori Fund Service Co., Ltd. 2,000,000 0.4709031 941,806 Woori Private Equity Asset Management Co., Ltd. 6,000,000 0.0877992 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 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 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. As of January 7, 2022, the Parent company established Woori Financ i non-performing (2) Details of the Parent company and subsidiaries (hereinafter ‘Group’) as of December 31, 2021 and 2022 are as follows: Percentage of ownership (%) Location Financial Subsidiaries Main business December 31, December 31, Held by Woori Financial Group Inc. Woori Bank Bank 100.0 100.0 Korea December Woori Card Co., Ltd. Finance 100.0 100.0 Korea December Woori Financial Capital Co., Ltd. Finance 100.0 100.0 Korea December Woori Investment Bank Co., Ltd. Other credit finance business 58.7 58.7 Korea December Woori Asset Trust Co., Ltd. Real estate trust 67.2 67.2 Korea December Woori Savings Bank (*7) Mutual saving bank 100.0 100.0 Korea December Woori Asset Management Corp. Finance 73.0 73.0 Korea December Woori Financial F&I Co., Ltd. Finance — 100.0 Korea December Woori Credit Information Co., Ltd. Credit information 100.0 100.0 Korea December Woori Fund Service Co., Ltd. Financial support service business 100.0 100.0 Korea December Woori Private Equity Asset Management Co., Ltd. Finance 100.0 100.0 Korea December Woori Global Asset Management Co., Ltd. Finance 100.0 100.0 Korea December Woori FIS Co., Ltd. System software development & maintenance 100.0 100.0 Korea December Woori Finance Research Institute Co., Ltd. Other service business 100.0 100.0 Korea December Held by Woori Bank Woori America Bank (*1) Finance 100.0 100.0 America December Woori Global Markets Asia Limited Finance 100.0 100.0 Hong Kong December Woori Bank China Limited Finance 100.0 100.0 China December AO Woori Bank (*10) Finance 100.0 100.0 Russia December PT Bank Woori Saudara Indonesia 1906 Tbk (*1) Finance 84.2 84.2 Indonesia December Banco Woori Bank do Brasil S.A. Finance 100.0 100.0 Brazil December Korea BTL Infrastructure Fund Finance 99.9 99.9 Korea December Woori Finance Myanmar Co., Ltd. Finance 100.0 100.0 Myanmar December Wealth Development Bank Finance 51.0 51.0 Philippines December Woori Bank Vietnam Limited Finance 100.0 100.0 Vietnam December Woori Bank (Cambodia) PLC (*9) Finance 100.0 100.0 Cambodia December Woori Bank Europe (*1) Finance 100.0 100.0 Germany December Kumho Trust First Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Asiana Saigon Inc. (*2) Asset securitization 0.0 0.0 Korea December KAMCO Value Recreation First Securitization Specialty Co., (*2) Asset securitization 15.0 15.0 Korea December Deogi Dream Fourth Co., Ltd. (*2)(*5) Asset securitization 0.0 — Korea — Jeonju Iwon Ltd. (*2) Asset securitization 0.0 0.0 Korea December Wonju I one Inc. (*2) Asset securitization 0.0 0.0 Korea December Heitz Third Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woorihansoop 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori International First Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December 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)(*5) Asset securitization 0.0 — Korea — Tiger Eyes 2nd Co., Ltd. ( *2)(*5) Asset securitization 0.0 — Korea — Woori Display 2nd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori Dream 2nd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori H 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori K 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori S 1st Co., Ltd. ( *2) Asset securitization 0.0 0.0 Korea December Percentage of ownership (%) Location Financial Subsidiaries Main business December 31, December 31, Woori Display 3rd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December TY 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori-HJ (*2)(*5) Asset securitization 0.0 — Korea — Woori K 2nd Co., Ltd. (*2)(*5) Asset securitization 0.0 — Korea — Woori KC No.1 Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Quantum Jump the 2nd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Quantum Jump the 1st Co., Ltd. (*2)(*5) Asset securitization 0.0 — Korea — Woori BK the 1st Co., Ltd. (*2)(*5) Asset securitization 0.0 — Korea — Woori-HC (*2)(*5) Asset securitization 0.0 — Korea — Wivi Synergy 1st Co.,Ltd. (*2)(*5) Asset securitization 0.0 — Korea — ATLANTIC TRANSPORTATION 1 S.A. (*2) Asset securitization 0.0 0.0 Marshall islands December Woori Gongdeok First Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December HD Project Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori HW 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori HC 2nd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori Dream 3rd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori SJS 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori Steel 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December SPG the 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori-HWC (*2) Asset securitization 0.0 0.0 Korea December Woori HC 3rd Co., Ltd. (*2). Asset securitization 0.0 0.0 Korea December Woori Park I 1st co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori DS 1st co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori HC 4th Co., Ltd. (*2). Asset securitization 0.0 0.0 Korea December Woori SKR 1st Co., Ltd. (*2). Asset securitization 0.0 0.0 Korea December Woori H chemical 1st Co.,Ltd. (*2) Asset securitization 0.0 0.0 Korea December HE the 1st Co.,Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori Hub The 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori K The 3rd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori KF 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December WooriI TS 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori H Square 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori L Yongsan 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori HC 5th Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori Ladena 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori HR 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori Lotte Dongtan 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori HC 6th Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori ECO 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December 31 Woori HO 1th Co., Ltd. (*2) Asset securitization — 0.0 Korea December Woori ESG 1st Co.,Ltd. (*2) Asset securitization — 0.0 Korea December Woori Osiria 1st Co.,Ltd. (*2) Asset securitization — 0.0 Korea December Woori Eco 2nd Co.,Ltd. (*2) Asset securitization — 0.0 Korea December Gangnam Landmark 2nd Co., Ltd (*2) Asset securitization — 0.0 Korea December Woori HP the 1st co.,Ltd. (*2) Asset securitization — 0.0 Korea December G5 Pro Short-term Bond Investment Fund 13 (*3)(*5) Securities investment and others 100.0 — Korea — Heungkuk Global Private Placement Investment Trust No. 1 (*3) Securities investment and others 98.8 98.8 Korea December AI Partners UK Water Supply Private Placement Investment Trust No.2 (*3) Securities investment and others 97.3 97.3 England December Multi Asset Global Real Estate Investment Trust No. 5-2 (*3) Securities investment and others 99.0 99.0 Korea December IGIS Australia Investment Trust No. 209-1 (*3) Securities investment and others 99.4 99.4 Korea December INMARK Spain Private Placement Real Estate Investment Trust No. 26-2 (*3) Securities investment and others 97.7 97.7 Korea December Woori G Japan General Type Private Real Estate Feeder Investment Trust No.1-2 (*3) Securities investment and others 98.8 98.8 Korea December IGIS Global Private Placement Real Estate Fund No. 316-1 (*3) Securities investment and others 99.3 99.3 Korea December Woori G Secondary Private Placement Investment Trust No. 1 (*3) Securities investment and others 98.1 98.3 Korea December Percentage of ownership (%) Location Financial Subsidiaries Main business December 31, December 31, Woori G Japan Blind General Type Private Real Estate Feeder Investment Trust No.1 (*3) Securities investment and others 99.8 99.9 Korea December JB Airline Private Placement Investment Trust No.8 (*3) Securities investment and others 97.0 97.0 Korea December Kiwoom Harmony Private Placement Investment Trust No. 2 (*3) Securities investment and others 97.1 97.1 Korea December Kiwoom Harmony Private Placement Investment Trust No. 1 (*3) Securities investment and others 96.0 97.2 Korea December Kiwoom Frontier Private Investment Trust No.23[Bond] (*3) Securities investment and others — 99.8 Korea December Principal Guaranteed Trust (*4) Trust 0.0 0.0 Korea December Principal and Interest Guaranteed Trust (*4) Trust 0.0 0.0 Korea December Held by Multi Asset Global Real Estate Investment Trust No. 5-2 MAGI No.5 LuxCo S.a.r.l. Asset securitization 54.6 54.6 Luxembourg December Held by MAGI No.5 LuxCo S.a.r.l. ADP 16 Brussels Asset securitization 99.9 99.9 Belgium December Held by Woori Card Co., Ltd. TUTU Finance –WCI Myanmar Co., Ltd. Finance 100.0 100.0 Myanmar December PT Woori Finance Indonesia Tbk. Finance — 82.0 Indonesia December Woori Card 2018-1 (*2)(*5) Asset securitization 0.5 — Korea — Woori Card 2019-1 ( *2) Asset securitization 0.5 0.5 Korea December Woori Card 2020-1 (*2) Asset securitization 0.5 0.5 Korea December Woori Card 2021-1 (*2) Asset securitization 0.5 0.5 Korea December 31 Woori Card 2022-1 ( *2) Asset securitization — 0.5 Korea December Woori Card 2022-2 (*2) Asset securitization — 0.5 Korea December Woori Card 2023-1 (*2) Asset securitization — 0.5 Korea December Held by Woori Financial Capital Co., Ltd. ACE Auto Invest the 48th Securitization Specialty Co., Ltd. (*2)(*5) Asset securitization 1.0 — Korea — ACE Auto Invest the 49th Securitization Specialty Co., Ltd. (*2)(*5) Asset securitization 1.0 — Korea — Specified Money Market Trust Trust — 100.0 Korea December Held by Woori Investment Bank Co., Ltd. Seari First Securitization Specialty Co., Ltd. (*2)(*5) Asset securitization 5.0 — Korea — Seari Second Securitization Specialty Co., Ltd. ( *2) Asset securitization 5.0 5.0 Korea December Namjong 1st Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea December Bukgeum First Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea December Bukgeum Second Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea December WS1909 Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea December WS2003 Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea December WS2006 Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea December WJ2008 Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea December WH2103 Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea December WN2103 Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea December Percentage of ownership (%) Location Financial Subsidiaries Main business December 31, December 31, WH2106 Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea December One Punch Korea the 1st Co., Ltd. (*2)(*5) Asset securitization 0.0 — Korea — One Punch blue the 1 st (*2)(*5) Asset securitization 0.0 — Korea — One Punch red the 1 st (*2)(*5) Asset securitization 0.0 — Korea — Held by Woori Asset Management Corp. Woori China Convertible Bond Hedging feeder Investment Trust H (debt-oriented hybrid) (*3) Securities investment and others 93.6 88.0 Korea December Woori Together TDF 2025 (*3)(*5) Securities investment and others 34.1 — Korea — Woori Together TDF 2030 (*3)(*5) Securities investment and others 32.3 — Korea — Woori Together TDF 2035 (*3) Securities investment and others 56.0 57.1 Korea December Woori Together TDF 2040 (*3) Securities investment and others 55.7 58.3 Korea December Woori Together TDF 2045 (*3) Securities investment and others 65.2 69.3 Korea December Woori Together TDF 2050 (*3) Securities investment and others 63.6 66.3 Korea December Woori Star50 Feeder Fund(H) (*3)(*5) Securities investment and others 44.8 — Korea — Woori BIG2 Plus Securities Investment Trust (Balanced Bond) (*3)(*5) Securities investment and others 40.8 — Korea — Woori Franklin Technology Master Fund (USD) (*3)(*11) Securities investment and others — 91.1 Korea December Woori Franklin Technology Feeder Fund (H) (*3) Securities investment and others — 71.8 Korea December Woori Together OCIO Target Return Master fund (*3)(*11) Securities investment and others — 100.0 Korea December Woori Together OCIO Target Return Feeder fund (*3) Securities investment and others — 81.2 Korea December Woori High Graded Bond Target Return Fund 1 (*3) Securities investment and others — 77.0 Korea December Woori Multi Return Private Equity 2 (*3) Securities investment and others — 30.9 Korea December Held by Woori Financial F&I Co., Ltd. WI2203 Securitization Specialty Co., Ltd. (*2) Asset securitization — 5.0 Korea December WM2203 Asset Securitization Specialty Co., Ltd. (*2) Asset securitization — 5.0 Korea December WNI2206 Asset Securitization Specialty Co., Ltd. (*2) Asset securitization — 5.0 Korea December WI2209 Securitization Specialty Co., Ltd. (*2) Asset securitization — 5.0 Korea December WN2212 Asset Securitization Specialty Co., Ltd. (*2) Asset securitization — 5.0 Korea December WK2212 Asset Securitization Specialty Co., Ltd. (*2) Asset securitization — 5.0 Korea December Held by Woori Financial Capital Co., Ltd., Woori Private (*6) Japanese Hotel Real Estate Private Equity Fund 1 (*3) Securities investment and others 100.0 100.0 Korea December Held by Woori Global Asset Management Co., Ltd. Woori G Global Multi Asset Income Private Placement Investment Trust_Class Cs (*3) Securities investment and others 37.9 37.9 Korea December Woori G Happy Retirement Lifetime Income TIF Mixed Asset Investment Trust[FoF] C(Y) (*3) Securities investment and others — 99.3 Korea December Percentage of ownership (%) Location Financial Subsidiaries Main business December 31, December 31, Held by Woori Bank, Woori Financial Capital Co., Ltd., Woori (*6) Woori Innovative Growth Professional Investment Type Private (*3) Securities investment and others 90.0 90.0 Korea December Held by Woori Bank, Woori Financial Capital Co., Ltd., Woori (*6) Woori Innovative Growth Professional Investment Type Private (*3) Securities investment and others 85.0 85.0 Korea December Woori Innovative Growth New Deal Private Investment Trust No.3 (*3) Securities investment and others 94.3 94.3 Korea December Held by Woori Bank, Woori Financial Capital Co., Ltd., and Woori (*6) Woori G GP Commitment Loan General Type Private Investment (*3) Securities investment and others 100.0 100.0 Korea December Woori G Equity Bridge Loan General Type Private Investment (*3) Securities investment and others 80.0 80.0 Korea December Woori G GP Commitment Loan General Type Private Investment (*3) Securities investment and others — 100.0 Korea December Held by Woori Bank, Woori Financial Capital Co., Ltd., and Woori (*6) Woori G New Deal(Infrastructure) Policy Fund No.1 (*3) Securities investment and others — 70.0 Korea December Held by Woori bank and Woori Investment Bank Co., Ltd. (*6) Heungkuk Woori Tech Company Private Placement Investment (*3)(*5) Securities investment and others 100.0 — Korea — Woori Global Development Infrastructure Synergy Company (*3) Securities investment and others 100.0 100.0 Korea December Woori G NorthAmerica Infra Private Placement Investment Trust (*3) Securities investment and others 100.0 100.0 Korea December Woori G Infrastructure New Deal Specialized Investment Private (*3) Securities investment and others 100.0 100.0 Korea December Woori G General Type Private Real Estate Investment Trust No.2 (*3) Securities investment and others 30.1 30.1 Korea December Woori G ESG Infrastructure Development General Type Private (*3) Securities investment and others 100.0 100.0 Korea December Held by Woori bank (*6) Woori G WooriBank Partners General Type Private Investment (*3) Securities investment and others 92.6 92.6 Korea December Woori G General Type Private Real Estate Investment Trust No.1 (*3) Securities investment and others 80.0 80.0 Korea December Woori G Global Mid-market (*3) Securities investment and others 80.0 80.0 Korea December Woori G Woori Bank Partners Professional Type Private (*3) Securities investment and others 90.9 90.9 Korea December Woori G General Type Private Real Estate Investment Trust No.5 (*3) Securities investment and others 87.0 86.8 Korea December Woori G Senior Loan General Type Private Investment Trust No.2 (*3) Securities investment and others — 50.0 Korea December Woori G Government Bond MMF C/I (*3) Securities investment and others — 46.0 Korea December Percentage of ownership (%) Location Financial Subsidiaries Main business December 31, December 31, Held by Woori Bank and Woori Financial Capital Co., Ltd. (*6) Woori G Renewable New Deal Fund No.1 (*3) Securities investment and others — 60.0 Korea December Woori G Equity Investment General Type Private Investment Trust No.1 (*3) Securities investment and others — 100.0 Korea December Woori Busan Logistics Infra Private Placement Special Asset Investment Trust (*3) Securities investment and others — 100.0 Korea December Held by Woori Financial Capital Co., Ltd. (*6) Woori G Japan Private Placement Real Estate Feeder Investment Trust No.1-1 (*3) Securities investment and others 63.2 63.2 Korea December Held by Woori Bank, Woori Card Co., Woori Financial Capital Co., Ltd. and Woori Investment Bank Co., Ltd. (*6) Woori FG Digital Investment Fund (*3) Securities investment and others — 100.0 Korea December Held by Woori G Japan Private Placement Real Estate Feeder (*6) Woori G Japan Private Placement Real Estate Master Investment Trust No.1 (*3) Securities investment and others 100.0 100.0 Korea December 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) Securities investment and others 100.0 100.0 Korea December 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) Securities investment and others 100.0 100.0 Korea December Held by Woori G Japan Private Placement Real Estate Master Investment Trust No.1 (*3) Other financial services 99.9 99.9 Japan October 31 (*8) Held by Woori G Japan Blind General Type Private Real Estate Feeder Investment Trust No.1 (*6) Woori G Private Placement Investment Trust No. 3 (*3) Securities investment and others — 76.5 Korea December Held by Woori G Private Placement Investment Trust No. 3 Other financial services — 100.0 Japan December Held by (*6) Woori Seoul- Chuncheon Highway Private Placement Special Asset Investment Trust No.1 (*3) Securities investment and others — 48.0 Korea December (*1) Additional investment occurred made for year ended December 31, 2021. (*2) T he 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 (*3) The entity is a structured entity for the purpose o f investment in securities. Although the Group is not a majority shareholder, the Group 1) has th (*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 (*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 (*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 the financial statements for the end of the reporting period were not available, the most recent financial statements available from the date of settlement were used. (*9) The Parent company’s subsidiary WB Finance Co., Ltd. has changed the name to WOORI BANK (CAMBODIA) PLC. (*10) The Russia—Ukraine conflict has been escalated in February 2022, Russia is imposed to the international sanctions. Due to the sanctions, the lack of liquidity in the Russian 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, decrease in the profit. As of December 31, 2022, 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. (*11) As a master (3) The Group has not consolidated the following entities as of December 31, 2021 and 2022 despite having more than 50% ownership interest: As of December 31, 2021 Subsidiaries Location Main Business Percentage of Mirae Asset Maps Clean Water Private Equity Investment Trust 7th (*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 (*2)(*4) Korea Securities Investment 97.9 IGIS Global Private Placement Real Estate Fund No. 148-1 (*1)(*4) Korea Securities Investment 75.0 IGIS Global Private Placement Real Estate Fund No. 148-2 ( *1)(*4) Korea Securities Investment 75.0 Mirae Asset Seoul Ring Expressway Private Special Asset Fund No. 1 (*1)(*4) Korea Securities Investment 66.7 Hangkang Sewage Treatment Plant Fund (*1)(*4) Korea Securities Investment 55.6 Korea Investment Pocheon Hwado Expressway Professional Investment Fund (*1)(*4) Korea Securities Investment 55.2 Midas Global Private Placement Real Estate Investment Trust No. 7-2 (*1)(*4) Korea Securities Investment 58.3 Together-Korea Government Private Pool Private Securities Investment Trust No.3 (*3)(*4) Korea Securities Investment 100.0 INMARK France Private Placement Investment Trust No. 18-1 (*1)(*4) Korea Securities Investment 93.8 Kiwoom Vibrato Private Placement Investment Trust 1-W(EUR) (*2)(*4) Korea Securities Investment 99.5 KOTAM Global Infrastructure Private Equity Investment Trust No. 1-4 (*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)(*4) Korea Securities Investment 50.0 Kiwoom Harmony Private Placement Investment Trust No. 3 (*1)(*4) Korea Securities Investment 77.4 Consus Solar Energy Private Placement Investment Truns No.1 (*1) Korea Securities Investment 50.0 (*1) The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. (*2) The Group does not have power over the fund of funds because the Group cannot decide the relevant activities of the fund through the related contract. The (*3) The Group does not have power over the stock market stabilization fund as the fund’s relevant activities are determined by the management committee, over which the Group does not have substantial control. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. (*4) In accordance with the amendment to the Capital Market Act, a specialized investment type private equity fund has been changed to a general private equity fund during the prior period. As of December 31, 2022 Subsidiaries Location Main Business Percentage of Mirae Asset Maps Clean Water Private Equity Investment Trust 7th (*1) Korea Securities Investment 57.6 Kiwoom Yonsei Private Equity Investment Trust (*1) Korea Securities Investment 88.9 IGIS Europe Private Placement Real Estate Fund No. 163-2 (*2) Korea Securities Investment 97.8 IGIS Global Private Placement Real Estate Fund No. 148-1 (*1) Korea Securities Investment 75.0 IGIS Global Private Placement Real Estate Fund No. 148-2 (*1) Korea Securities Investment 75.0 Mirae Asset Seoul Ring Expressway Private Special Asset Fund No. 1 (*1) Korea Securities Investment 66.7 Hangkang Sewage Treatment Plant Fund (*1) Korea Securities Investment 55.6 Korea Investment Pocheon Hwado Expressway Professional Investment Fund (*1) Korea Securities Investment 55.2 Midas Global Private Placement Real Estate Investment Trust No. 7-2 (*1) Korea Securities Investment 58.3 Together-Korea Government Private Pool Private Securities Investment Trust No.3 (*3) Korea Securities Investment 100.0 INMARK France Private Placement Investment Trust No. 18-1 (*1) Korea Securities Investment 93.8 Kiwoom Vibrato Private Placement Investment Trust 1-W(EUR) (*2) Korea Securities Investment 99.5 KOTAM Global Infra Private Fund 1-4 (*2) Korea Securities Investment 99.7 UBSHana Class 1 Special Asset Investment Trust 3 Class C 2 (*1) Korea Securities Investment 51.0 Consus GyeongJu Green Specialized Private Special Asset Investment Trust 1 (*1) Korea Securities Investment 50.0 Kiwoom Harmony Private Placement Investment Trust No. 3 (*1) Korea Securities Investment 77.4 Consus Solar Energy Private Placement Investment Truns No.1 (*1) Korea Securities Investment 50.0 IGIS ESG General Private Investment Trust No.1 (*1) Korea Securities Investment 60.0 Kiwoom Aurora Geneal Type Private Placement Investment Trust No. 2 (*1) Korea Securities Investment 60.0 NH-Amundi (*1) Korea Securities Investment 65.2 AI Partners Global Infrastructure Specialized Privately Placed Feeder Fund Trust No. 2 (*2) Korea Securities Investment 100.0 Hangang new deal infra BTL fund 4 (HNBF4) (*1) Korea Securities Investment 60.0 Rifa Qualified Investors Private Real Estate Investment Trust No.40 (*2) Korea Securities Investment 55.0 (*1) The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. (*2) The Group does not have power over the fund of funds because the Group cannot decide the relevant activities of the fund through the related contract. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. (*3) The Group does not have power over the stock market stabilization fund as the fund’s relevant activities are determined by the management committee, over which the Group does not have substantial control. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. (4) The summarized financial information of the major subsidiaries are as follows. The financial information of each subsidiary was prepared on the basis of consolidated financial statements. (Unit: Korean Won in millions): As of and for the year ended December 31, 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 As of and for the year ended December 31, 2022 Subsidiaries Assets Liabilities Operating revenue Net income (loss) Comprehensive Woori Bank 443,340,979 417,583,793 38,656,623 2,937,257 2,696,965 Woori Card Co., Ltd. 16,118,967 13,692,456 1,845,296 204,385 199,397 Woori Financial Capital Co., Ltd. 12,581,473 11,040,754 1,323,574 183,328 189,765 Woori Investment Bank Co., Ltd. 5,657,191 4,982,410 406,157 91,794 92,379 Woori Asset Trust Co., Ltd. 322,098 94,573 137,114 60,319 60,316 Woori Savings Bank 1,786,495 1,556,679 110,868 10,607 10,998 Woori Asset Management Corp. 185,389 62,568 35,019 1,259 1,314 Woori Financial F&I Co., Ltd. 336,141 135,562 8,086 867 867 Woori Credit Information Co., Ltd. 42,832 9,240 38,549 1,784 2,083 Woori Fund Service Co., Ltd. 25,094 2,691 16,337 3,917 3,917 Woori Private Equity Asset Management Co., Ltd 94,434 4,672 7,830 1,902 1,872 Woori Global Asset Management Co., Ltd. 34,988 7,090 13,711 211 211 Woori FIS Co., Ltd. 112,117 54,645 296,235 1,069 11,559 Woori Finance Research Institute Co., Ltd. 6,456 2,604 7,006 46 245 (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. • Structur |
Basis of preparation and signif
Basis of preparation and significant accounting policies | 12 Months Ended |
Dec. 31, 2022 | |
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 Won amounts are expressed in U.S. Dollars at the rate of 1,260.2 Korean Wo exchange 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 approved by the Board of Directors on March 3, 2023, and the final approval was made in the annual general shareholders’ meeting on March 24, 2023. 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 IAS 7 ‘ Statement of cash flow The Group did not classify deposits with restrictions under relevant regulations, such as reserve deposits, as cash and cash equivalents. However, in accordance of the IFRS Interpretation Committee’s agenda decision in April 2022 ‘Demand deposits restricted on use under contracts with third parties’ and reply to IFRS inquiries ‘whether the reserve deposit should be classified as cash and cash equivalents’ the policy was changed to classifying the reserve deposits with restrictions under relevant regulations which meet the criteria of demand deposits as cash and cash equivalent and applied the modification retrospectively. The impact of this change in accounting policy is as follows: a) Impact on the statements of financial position December 31, 2022 December 31, 2021 January 1, 2021 Increase in cash and cash equivalents 22,965,162 13,047,255 7,352,253 Decrease in loans and other financial assets at amortized cost (22,965,162 ) (13,047,255 ) (7,352,253 ) b) Impact on the statements of cash flow December 31, 2022 December 31, 2021 Increase in cash flows from operating activities 9,981,310 5,600,710 Increase in exchange rate changes on cash and cash equivalents denominated in foreign currencies (63,403 ) 94,292 Net increase in cash and cash equivalents 9,981,310 5,600,710 Increase in cash and cash equivalents, the beginning of the year 13,047,255 7,352,253 Increase in cash and cash equivalents, the end of the year 22,965,162 13,047,255 ② 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 amendment does not have a significant impact on the financial statements. ③ Amendments to IAS 37 ‘ Provisions, Contingent Liabilities and Contingent Assets’ 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 amendment does not have a significant impact on the financial statements. ④ Amendments to IAS 16 ‘ Property, Plant and Equipment’ 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 amendment does not have a significant impact on the financial statements. ⑤ Annual Improvements to IFRS 2018-2020 The annual improvement includes some amendments to IFRS 1 ‘First time Adoption of Korean International Financial Reporting Standards’, IFRS 9 ‘Financial Instrument’s, IFRS 16 ‘Lease’, IAS 41 ‘Agriculture’. These amendments do not have a significant impact on the consolidated financial statements. • IFRS 1 ‘ First time Adoption of Korean International Financial Reporting Standards’ • IFRS 9 ‘ Financial Instrument’s • IFRS 16 ‘Lease’ • IAS 41 ‘ Agriculture’ 2) The details of IFRSs that have been issued and published as of December 31,2022 but have not yet reached the effective date, and which the Group have not been early adopted by the Group are as follows: ① Amendments to IAS 1 ‘ Presentation of Financial Statements Non-current The amendments clarify that liabilities are classified as either current or non-current, ② Amendments to IAS 1 ‘ Presentation of Financial Statements ‘IFRS Practice Statement 2’ has been amended to define and disclose important accounting policies and to provide guidance on how to apply the concept of importance. 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. ③ Amendments to IAS 1 ‘ Presentation of Financial Statements’— The amendments require disclosure of valuation gains or losses (limited to those recognized in the profit or loss) of the conversion options or warrants (or financial liabilities including them), if all or part of the financial instrument with exercise price that is adjusted depending on the issuer’s share price change is classified as financial liability as defined in paragraph 11 (2) of IAS 32. 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. ④ Amendments to IAS 8 ‘ Accounting Policies, Changes in Accounting Estimates and Errors 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. ⑤ Amendments to IAS 12 ‘ Income Taxes 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 amount 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 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 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 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. (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. (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 r |
Significant accounting estimate
Significant accounting estimates and assumptions | 12 Months Ended |
Dec. 31, 2022 | |
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. 1) COVID-19 The diffusion 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 information related to the duration of the impact of COVID-19 <Woori Bank> Woori Bank’s total loans (loan receivables, payment guarantees) that are subject to loan deferment and interest deferment, total loans that changed its stage from 12-month December 31, 2021 December 31, 2022 Total loans (loan receivables, payment guarantees) that are subject to loan deferment and interest deferment Corporate 2,428,496 1,960,524 Retail 167,146 216,487 Total 2,595,642 2,177,011 Total loans changed its stage from 12-month Corporate 2,125,492 1,777,108 Retail 134,920 169,851 Total 2,260,412 1,946,959 The expected credit loss allowances that are additionally recognized Corporate 275,057 312,371 Retail 9,657 12,643 Total 284,714 325,014 In addition, as of December 31, 2021 and 2022 the Group applied the overlay in consideration of the potential for insolvency due to market interest rate hikes and the increase in economic uncertainty due to the prolonged spread of COVID-19 As of December 31, 2021 and 2022, the monetary effect of the provision for expected credit loss due to the application of the forecast of future economic conditions overlay is as follows. (Unit: Korean Won in millions): December 31, 2021 December 31, 2022 Corporate 48,583 347,801 Retail 6,237 16,256 Total 54,820 364,057 <Woori Card> Woori Card Co., Ltd. determined that the credit risk of obligors receiving financial support due to COVID-19 W W <Woori Financial Capital Co., Ltd.> Woori Financial Capital Co., Ltd. determined that the credit risk of obligors receiving financial support due to COVID-19 COVID-19 W W W W 2) 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/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 carrying amount 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. 3) 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. 4) 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. 5) 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, 2022 | |
Disclosure of risk management [Abstract] | |
Risk Management | 4. RISK MANAGEMENT The Group is exposed to various risks that may arise from its operating activities and the main types of risks are credit risk, market risk, liquidity risk and etc. The Risk Management Department analyze and assess the level of complex risks in order to manage the risks and the risk management standards such as policies, regulations, management systems and decision-making have been established and operated for sound management of the Group. The risk management organization is operated by Risk Management Committee, Chief Risk Officer(CRO), 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 Chief Risk Officer (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 To measure credit risk, 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 rating, other than quantitative methods utilizing financial statements and others, and assessor’s judgement, the Group utilizes credit rating 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 purchase of credit derivatives that have low correlation with the obligor’s credit status. 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 loss allowance 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 Loss allowance 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. Loss allowance under credit impairment model is measured as the cumulative change in lifetime expected credit loss since initial recognition. At the end of each reporting period the Group assesses whether credit risk has significantly been increased since the date of initial recognition. The Group assesses whether the credit risk has increased significantly since initial recognition by using credit rating, asset quality level, early warning system, days past due and others. For financial assets whose contractual cash flows have been modified, the Group assesses whether there is a significant increase in credit risk on the same basis. The Group performs the below 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 below 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 determined that there is 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 and interest 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. Loss allowance is calculated by applying PD (default rate) and LGD (loss rate on default) estimated for each financial asset in consideration of factors such as obligor 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 GDP growth rate, Personal consumption expenditures price index rate, consumer price index change rate 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 through regression analysis of corporate retail/year-by-year • 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 • Forecast of macroeconomic variables a) Probability weight As of December 31, 2022, 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 52.57 12.52 34.91 b) Economic forecast of each major macroeconomic variables by scenario (prospect period: 2023) As of December 31, 2022, the forecasts of major macroeconomic variables by scenario is as follows (Unit: %) Basic Scenario Upside Scenario Downside Scenario GDP growth rate 1.70 1.89 1.36 Personal consumption expenditures price index rate 2.70 3.11 1.97 Consumer price index change rate 3.60 3.39 3.97 The results of Woori Bank’s sensitivity analysis on expected credit loss provisions due to changes in macroeconomic indicators as of December 31, 2021 and 2022 are as follows (Unit: Korean Won in millions): 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 change rate Increase by 1% point (29,469 ) Decrease by 1% point 34,352 December 31, 2022 Corporate Personal consumption expenditures price index rate Increase by 1% point (59,987 ) Decrease by 1% point 68,036 Retail Consumer price index change rate Increase by 1% point (24,164 ) Decrease by 1% point 28,042 (*) The sensitivity of the effect of the GDP growth rate on banks’ ECLs is not significant. • 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 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 carrying amount 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, 2021 and 2022 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 2,207,893 2,877,685 Banks 24,412,685 21,571,097 Corporates 131,027,256 143,507,852 Consumers 191,237,783 187,804,095 Sub-total 348,885,617 355,760,729 Financial assets at FVTPL (*2) Deposits 65,072 34,995 Debt securities 2,743,239 4,270,532 Loans 667,467 899,228 Derivative assets 4,803,131 8,206,181 Others 1,518 1,505 Sub-total 8,280,427 13,412,441 Financial assets at FVTOCI Debt securities 38,126,977 32,145,758 Securities at amortized cost Debt securities 17,086,274 28,268,516 Derivative assets Derivative assets (Designated for hedging) 106,764 37,786 Off-balance Payment guarantees (*3) 12,987,809 11,921,586 Loan commitments 114,414,462 118,172,070 Sub-total 127,402,271 130,093,656 Total 539,888,330 559,718,886 (*1) Cash and cash equivalents are not included. (*2) Puttable financial instruments are not included. (*3) As of December 31, 2021 and 2022, the financial guarantee amount of 3,960,383 million W W a) Credit risk exposure by geographical areas The following tables analyze credit risk exposure by geographical areas (Unit: Korean Won in millions): December 31, 2021 Korea China USA UK Japan Others (*) Total Loans and other financial assets at amortized cost 325,947,526 5,620,622 3,742,331 212,821 635,939 12,726,378 348,885,617 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 506,512,905 7,524,621 7,142,157 440,740 752,849 17,515,058 539,888,330 (*) Others consist of financial assets in Indonesia, Hong Kong, Germany, Australia, and other countries. December 31, 2022 Korea China USA UK Japan Others (*) Total Loans and other financial assets at amortized cost 331,572,328 5,188,826 4,721,440 215,174 719,301 13,343,660 355,760,729 Securities at amortized cost 26,883,967 642,089 421,248 16,658 — 304,554 28,268,516 Financial assets at FVTPL 9,272,673 2,607 2,210,580 318,322 168,013 1,440,246 13,412,441 Financial assets at FVTOCI 27,780,323 806,320 2,297,076 1,726 41,421 1,218,892 32,145,758 Derivative assets (Designated for hedging) 37,786 — — — — — 37,786 Off-balance 126,531,020 981,139 380,209 25,644 16,987 2,158,657 130,093,656 Total 522,078,097 7,620,981 10,030,553 577,524 945,722 18,466,009 559,718,886 (*) 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, 2021 and 2022 (Unit: Korean Won in millions): 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 32,493,347 4,303,491 185,972,844 20,541,133 348,885,617 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 87,490,064 8,627,849 253,941,506 45,317,099 539,888,330 December 31, 2022 Service Manufacturing Finance and Construction Individuals Others Total Loans and other financial assets at amortized cost 78,173,716 37,013,486 31,485,795 5,613,480 183,167,572 20,306,680 355,760,729 Securities at amortized cost 239,141 — 16,198,175 199,924 — 11,631,276 28,268,516 Financial assets at FVTPL 200,678 184,019 9,776,234 51,244 1,167 3,199,099 13,412,441 Financial assets at FVTOCI 417,877 231,132 22,249,839 48,225 — 9,198,685 32,145,758 Derivative assets (Designated for hedging) — — 37,786 — — — 37,786 Off-balance 18,661,383 22,492,863 10,523,731 3,143,673 69,404,456 5,867,550 130,093,656 Total 97,692,795 59,921,500 90,271,560 9,056,546 252,573,195 50,203,290 559,718,886 ② The detailed industries of financial assets and corporate loans that might get affected by the spread of COVID-19 < Woori Bank > 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 December 31, 2022 Loans and other Financial assets Financial assets Service business Distribution business General retail business 1,157,537 824 6,296 General wholesale business 1,801,361 1,659 — Sub-total 2,958,898 2,483 6,296 Accommodation business 1,434,456 2,228 24,121 Travel business 48,655 — — Art/sports, leisure service 1,780,739 1,012 — Food business 1,520,098 426 — Transportation business 357,940 181 — Education Business 425,779 169 — Others 1,560,457 773 — Sub-total 10,087,022 7,272 30,417 Manufacturing Textile 2,361,092 767 8,898 Metal 1,579,004 191 — Non-metal 796,671 1,529 7,629 Chemical 3,649,189 158 — Electronics 1,409,475 58 — Others 3,280,434 1,287 11,452 Sub-total 13,075,865 3,990 27,979 Total 23,162,887 11,262 58,396 December 31, 2022 Off-balance accounts Total Service business Distribution business General retail business 496,830 1,661,487 General wholesale business 533,368 2,336,388 Sub-total 1,030,198 3,997,875 Accommodation business 161,573 1,622,378 Travel business 16,369 65,024 Art/sports, leisure service 104,065 1,885,816 Food business 179,977 1,700,501 Transportation business 248,801 606,922 Education Business 40,891 466,839 Others 301,343 1,862,573 Sub-total 2,083,217 12,207,928 Manufacturing Textile 1,076,002 3,446,759 Metal 1,225,601 2,804,796 Non-metal 381,014 1,186,843 Chemical 3,627,183 7,276,530 Electronics 1,202,758 2,612,291 Others 2,530,964 5,824,137 Sub-total 10,043,522 23,151,356 Total 12,126,739 35,359,284 < Woori Card Co., Ltd. > 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 December 31, 2022 Loans and other Financial assets at Financial assets at Off-balance Total Accommodation business 5,562 — — 9,762 15,324 Travel business 7,927 — — 15,182 23,109 Aviation 1,072 — — 3,760 4,832 Cosmetics industry 11,364 — — 9,766 21,130 Distribution business 30,904 — — 36,190 67,094 Food industry 134,006 — — 115,695 249,701 Art/sports, leisure service 24,614 — — 41,003 65,617 Total 215,449 — — 231,358 446,807 <Woori Financial Capital Co., Ltd.> 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 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 December 31, 2022 Loans and other Financial assets Financial assets Service business Distribution business General retail business 363,655 — — General wholesale business 266,515 — — Sub-total 630,170 — — Accommodation business 40,237 — — Travel business 5,880 — — Art/sports, leisure service 66,388 — — Food business 228,254 — — Transportation business 367,311 — — Education business 52,652 — — Others 1,997,073 — — Sub-total 3,387,965 — — Manufacturing Textile 15,204 — — Metal 25,274 — — Non-metal 4,067 — — Chemical 14,071 — — Transportation 2,867 — — Electronics 28,202 — — Cosmetics 1,192 — — Others 235,972 — — Sub-total 326,849 — — Total COVID-19 3,714,814 — — Other business Others 5,337,618 21,652 — Total 9,052,432 21,652 — December 31, 2022 Off-balance Total Service business Distribution business General retail business — 363,655 General wholesale business — 266,515 Sub-total — 630,170 Accommodation business — 40,237 Travel business — 5,880 Art/sports, leisure service — 66,388 Food business — 228,254 Transportation business — 367,311 Education business — 52,652 Others 206,191 2,203,264 Sub-total 206,191 3,594,156 Manufacturing Textile — 15,204 Metal — 25,274 Non-metal — 4,067 Chemical — 14,071 Transportation — 2,867 Electronics — 28,202 Cosmetics — 1,192 Others 19,892 255,864 Sub-total 19,892 346,741 Total COVID-19 226,083 3,940,897 Other business Others 347,025 5,706,295 Total 573,108 9,647,192 < Woori Investment Bank Co., Ltd. > 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 December 31, 2022 Loans and other Financial assets at Financial assets at Off-balance Total Accommodation business 19,323 — — — 19,323 Distribution business 10,084 19,774 — — 29,858 Art/sports, leisure service 59,160 — — — 59,160 Total 88,567 19,774 — — 108,341 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, 2021 and 2022 is as follows (Unit: Korean Won in millions): December 31, 2021 Stage 1 Stage 2 Stage 3 Total Loss Total, net Above (*1) Less than a (*2) Above (*1) Less than a (*2) Loans and other financial assets at amortized cost 303,317,270 22,734,430 13,270,491 10,190,307 1,332,644 350,845,142 (1,959,525 ) 348,885,617 Korean treasury and government agencies 2,211,798 9 9 — — 2,211,816 (3,923 ) 2,207,893 Banks 23,865,911 492,447 46,373 — 23,509 24,428,240 (15,555 ) 24,412,685 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 358,326,701 22,943,485 13,270,491 10,190,307 1,332,644 406,063,628 (1,976,906 ) 404,098,868 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 loss allowance because loss allowance does not reduce the carrying amount. December 31, 2022 Stage 1 Stage 2 Above appropriate credit rating (*1) Less than a limited credit rating (*2) Above appropriate credit rating (*1) Less than a limited credit rating (*2) Stage 3 Credit impairment model Total Loss allowance Total, net Loans and other financial assets at amortized cost 308,498,799 23,391,187 13,061,081 11,533,632 1,447,967 313,717 358,246,383 (2,485,654 ) 355,760,729 Korean treasury and government agencies 2,879,057 39 — — — — 2,879,096 (1,411 ) 2,877,685 Banks 21,182,445 393,181 2,125 — 18,053 — 21,595,804 (24,707 ) 21,571,097 Corporates 120,407,588 16,680,863 2,556,885 4,429,148 637,187 313,717 145,025,388 (1,517,536 ) 143,507,852 General business 74,939,770 9,291,691 1,754,620 3,083,232 421,659 — 89,490,972 (1,016,039 ) 88,474,933 Small- and medium-sized 34,965,279 6,751,297 754,668 1,257,741 173,818 — 43,902,803 (400,328 ) 43,502,475 Project financing and others 10,502,539 637,875 47,597 88,175 41,710 313,717 11,631,613 (101,169 ) 11,530,444 Consumers 164,029,709 6,317,104 10,502,071 7,104,484 792,727 — 188,746,095 (942,000 ) 187,804,095 Securities at amortized cost 28,276,901 — — — — — 28,276,901 (8,385 ) 28,268,516 Financial assets at FVTOCI (*3) 31,914,193 231,565 — — — — 32,145,758 (11,805 ) 32,145,758 Total 368,689,893 23,622,752 13,061,081 11,533,632 1,447,967 313,717 418,669,042 (2,505,844 ) 416,175,003 December 31, 2022 Collateral value Stage1 Stage2 Stage3 Credit impairment model Total Loans and other financial assets at amortized cost 213,228,740 19,354,919 607,614 313,717 233,504,990 Korean treasury and government agencies 24,276 — — — 24,276 Banks 1,858,595 — — — 1,858,595 Corporates 82,314,488 4,982,087 316,085 313,717 87,926,377 General business 44,465,799 3,390,139 194,597 — 48,050,535 Small- and medium-sized 32,503,289 1,537,173 84,798 — 34,125,260 Project financing and others 5,345,400 54,775 36,690 313,717 5,750,582 Consumers 129,031,381 14,372,832 291,528 — 143,695,742 Securities at amortized cost — — — — — Financial assets at FVTOCI (*3) — — — — — Total 213,228,740 19,354,919 607,614 313,717 233,504,990 (*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 loss allowance because loss allowance does not reduce the carrying amount. b) Payment Guarantees and commitments The credit quality of the payment guarantees and loan commitments as of December 31, 2021 and 2022 are as follows (Unit: Korean Won in millions): December 31, 2021 Financial assets Stage 1 Stage 2 Stage3 Total Above appropriate credit rating (*1) Less than a limited credit rating (*2) Above appropriate credit rating (*1) Less than a limited credit rating (*2) Off-balance Payment 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 corporate are BBB- December 31, 2022 Financial assets Stage 1 Stage 2 Stage3 Total Above appropriate credit rating (*1) Less than a limited credit rating (*2) Above appropriate credit rating (*1) Less than a limited credit rating (*2) Off-balance Payment Guarantees 10,790,470 846,997 25,826 245,061 13,232 11,921,586 Loan Commitments 113,169,542 2,610,173 1,638,982 753,139 234 118,172,070 Total 123,960,012 3,457,170 1,664,808 998,200 13,466 130,093,656 (*1) Credit grade of corporates are AAA ~ BBB, and consumers are grades 1 ~ 6. (*2) Credit grade of corporate are BBB- 5) Collateral and other credit enhancements For the years ended December 31, 2021 and 2022, 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, 2021 and 2022 are 145,594 million W W W , 7) The Group determines which loan is subject to 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, 2021 and 2022 are 10,107,413 million W W non-recoverable W (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, measuring its level, and evaluating the appropriateness of the level of accepted market risks for both trading and non-trading 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, 2021 December 31, 2021 For the year ended December 31, 2021 December 31, 2022 For the year ended December 31, 2022 Risk factor Average Maximum Minimum Average Maximum Minimum Interest rate 4,177 4,681 14,017 2,405 11,800 8,847 11,987 4,298 Stock price 2,972 3,637 6,676 1,609 7,055 6,590 12,448 1,806 Foreign currencies 5,904 6,745 13,144 4,747 17,608 14,002 22,251 5,421 Diversification (6,072 ) (7,300 ) (20,006 ) (3,627 ) (17,354 ) (12,725 ) (19,640 ) (4,201 ) Total VaR (*) 6,981 7,763 13,831 5,134 19,109 16,714 27,046 7,324 (*) VaR (Value at Risk): Retention period of 1 day, Maximum expected losses under 99% level of confidence. b) Non-trading From the end of 2019 for the Bank and the beginning of 2021 for non-banking 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 interest rates, 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 off-balance ΔEVE and ΔNII calculated on interest risk in banking book(IRRBB) basis for assets and liabilities by subsidiary as of December 31, 2021 and 2022 are as follows(Unit: Korean Won in millions): December 31, 2021 December 31, 2022 Δ EVE (*1) Δ NII (*2) Δ EVE (*1) Δ NII (*2) Woori Bank 920,290 195,186 411,447 448,509 Woori Card Co., Ltd. 126,576 59,114 139,005 185,637 Woori Financial Capital Co., Ltd. 58,794 1,384 43,098 13,814 Woori Investment Bank Co., Ltd. 17,607 5,556 26,311 8,229 Woori Asset Trust Co., Ltd. 820 1,709 1,137 6,736 Woori Asset Management Corp. 1,411 504 913 1,299 Woori Savings Bank 15,175 949 6,618 10,348 Woori Private Equity Asset Management Co., Ltd. 32 59 547 886 Woori Global Asset Management Co., Ltd. 246 143 251 538 Woori Financial F&I Co., Ltd. — — 26,069 219 (*1) ΔEVE: change in Economic Value of Equity (*2) ΔNII: change in Net Interest Income At the interest rate re-pricing non-trading December 31, 2021 Within 3 months 4 to 6 months 7 to 9 months 10 to 12 months 1 to 5 years Over 5 years 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 3,203,7 |
Operating segments
Operating segments | 12 Months Ended |
Dec. 31, 2022 | |
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. With the establishment of Woori Financial Group Inc. during the prior term, the Group reports to the CODM according to the organizational sectors below. 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, comprehensive finance 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 customers of Woori Bank and its subsidiaries 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 Financial F&I Co., 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 sect o For the year ended December 31, 2020 Banking Credit card Investment banking Others (*1) Sub-total Other adjustments (*2) Internal adjustments (*3) consolidated adjustments (*4) Total Net Interest income 4,545,155 564,461 78,302 69,188 5,257,106 52,171 692,298 (3,063 ) 5,998,512 Non-interest 1,423,286 3,648 34,497 1,071,852 2,533,283 (19,082 ) (676,483 ) (1,015,284 ) 822,434 Impairment losses due to credit loss (512,008 ) (195,816 ) (4,146 ) (43,660 ) (755,630 ) (808 ) (17,138 ) (10,795 ) (784,371 ) General and administrative expense (3,545,186 ) (207,301 ) (39,039 ) (416,595 ) (4,208,121 ) (2,921 ) — 254,861 (3,956,181 ) Net operating income (expense) 1,911,247 164,992 69,614 680,785 2,826,638 29,360 (1,323 ) (774,281 ) 2,080,394 Share of gain (loss) of associates (6,895 ) — 170 1,255 (5,470 ) (22,047 ) — 128,594 101,077 Other non-operating (50,132 ) (5,569 ) (945 ) (484 ) (57,130 ) 33,895 1,323 (158,308 ) (180,220 ) Non-operating (57,027 ) (5,569 ) (775 ) 771 (62,600 ) 11,848 1,323 (29,714 ) (79,143 ) Net income (expense) before tax 1,854,220 159,423 68,839 681,556 2,764,038 41,208 — (803,995 ) 2,001,251 Tax income (expense) (437,288 ) (39,193 ) (5,902 ) (29,372 ) (511,755 ) 29 — 25,724 (486,002 ) Net income (loss) 1,416,932 120,230 62,937 652,184 2,252,283 41,237 — (778,271 ) 1,515,249 Total assets 374,120,064 11,366,596 4,332,474 31,872,690 421,691,824 5,643,135 — (28,253,942 ) 399,081,017 Investment in associate 3,382,650 — 2,494 21,586,506 24,971,650 10,194 — (23,988,553 ) 993,291 Other assets 370,737,414 11,366,596 4,329,980 10,286,184 396,720,174 5,632,941 — (4,265,389 ) 398,087,726 Total liabilities 348,706,682 9,312,986 3,803,594 9,606,742 371,430,004 4,643,899 — (3,718,731 ) 372,355,172 (*1) 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. (*2) Other segments includes the funds subject to Group’s consolidated not included in the reporting segment. (*3) Internal reconciliation includes the adjustment of deposit insurance premiums of KRW 371,054 million and fund contribution fees of KRW 327,911 million from net interest income expenses to non-interest (*4) Consolidation adjustments include the elimination of KRW 252,922 million of internal transactions between Woori FIS Co., Ltd., the group’s IT service agency, and affiliates, and the removal of KRW 680,375 million of dividends received by the holding company from its subsidiaries. For the year ended December 31, 2021 Banking Credit card Capital Investment banking Others (*1) Sub-total Other adjustments (*2) Internal adjustments (*3) consolidated (*4) Total Net interest income 5,158,078 606,506 315,600 108,321 29,515 6,218,020 9,938 758,559 (796 ) 6,985,721 Non-interest 1,661,903 63,839 95,297 49,419 1,111,422 2,981,880 16,431 (670,230 ) (969,804 ) 1,358,277 Impairment losses due to credit loss (140,574 ) (164,097 ) (122,089 ) (1,885 ) (19,601 ) (448,246 ) — (89,683 ) 1,091 (536,838 ) General and administrative expense (3,606,715 ) (225,175 ) (99,048 ) (51,490 ) (440,601 ) (4,423,029 ) (256 ) — 275,874 (4,147,411 ) Net operating income(expense) 3,072,692 281,073 189,760 104,365 680,735 4,328,625 26,113 (1,354 ) (693,635 ) 3,659,749 Share of gain of associates 60,049 — 1,000 750 4,390 66,189 51 — (4,044 ) 62,196 Other non-operating (19,654 ) (7,936 ) (16,943 ) (660 ) (1,071 ) (46,264 ) 2,956 1,354 7,054 (34,900 ) Non-operating 40,395 (7,936 ) (15,943 ) 90 3,319 19,925 3,007 1,354 3,010 27,296 Net income(expense) before tax 3,113,087 273,137 173,817 104,455 684,054 4,348,550 29,120 — (690,625 ) 3,687,045 Tax expense (773,073 ) (72,411 ) (33,238 ) (24,531 ) (16,799 ) (920,052 ) — — (4,714 ) (924,766 ) Net income(loss) 2,340,014 200,726 140,579 79,924 667,255 3,428,498 29,120 — (695,339 ) 2,762,279 Total assets 415,976,627 14,116,832 10,259,868 5,159,742 25,627,649 471,140,718 1,101,162 — (25,058,009 ) 447,183,871 Investment in associate 858,706 — 12,403 8,846 22,165,895 23,045,850 35,134 — (21,745,817 ) 1,335,167 Other assets 415,117,921 14,116,832 10,247,465 5,150,896 3,461,754 448,094,868 1,066,028 — (3,312,192 ) 445,848,704 Total liabilities 391,360,200 11,858,065 9,073,104 4,559,856 3,284,269 420,135,494 54,595 — (1,811,321 ) 418,378,768 (*1) Other segments include gains and losses from Woori Financial Group Inc., Woori Asset Trust Co., Ltd., Woori Savings Bank, Woori Asset Management Corp., Woori Financial F&I Co., Ltd., Woori Credit Information Co., Ltd., Woori Fund Service Co., Ltd., Woori Private Equity Asset Management Co., Ltd., Woori Global Asset Management Co., Ltd., Woori FIS Co., Ltd. and Woori Finance Research Institute. (*2) Other segments includes the funds subject to Group’s consolidated not included in the reporting segment. (*3) Internal reconciliation includes the adjustment of deposit insurance premiums of KRW 406,276 million and fund contribution fees of KRW 367,961 million from net interest income expenses to non-interest (*4) Consolidation adjustments include the elimination of KRW 274,768 million of internal transactions between Woori FIS Co., Ltd., the group’s IT service agency, and affiliates, and the removal of KRW 692,605 million of dividends received by the holding company from its subsidiaries. For the year ended December 31, 2022 Banking Credit card Capital Investment banking Others (*1) Sub-total Other adjustments Internal adjustments Consolidated Adjustments (*4) Total Net interest income 6,603,834 675,250 376,133 117,867 73,800 7,846,884 34,307 817,543 (2,155 ) 8,696,579 Non-interest 1,520,576 110,888 83,428 82,885 1,750,203 3,547,980 17,498 (761,029 ) (1,655,342 ) 1,149,107 Impairment losses due to credit loss (426,552 ) (238,607 ) (107,906 ) (16,491 ) (38,319 ) (827,875 ) — (57,992 ) 595 (885,272 ) General and administrative expense (3,914,672 ) (262,525 ) (99,872 ) (61,631 ) (493,502 ) (4,832,202 ) (409 ) — 302,721 (4,529,890 ) Net operating income(expense) 3,783,186 285,006 251,783 122,630 1,292,182 5,734,787 51,396 (1,478 ) (1,354,181 ) 4,430,524 Share of gain of associates 73,958 — 1,430 334 2,173 77,895 (182 ) — (7,717 ) 69,996 Other non-operating 67,759 (6,373 ) (1,835 ) (1,399 ) (2,386 ) 55,766 2,371 1,478 (12,565 ) 47,050 Non-operating 141,717 (6,373 ) (405 ) (1,065 ) (213 ) 133,661 2,189 1,478 (20,282 ) 117,046 Net income(expense) before tax 3,924,903 278,633 251,378 121,565 1,291,969 5,868,448 53,585 — (1,374,463 ) 4,547,570 Tax expense (976,402 ) (73,869 ) (68,050 ) (29,771 ) (26,739 ) (1,174,831 ) — — (3,665 ) (1,178,496 ) Net income(loss) 2,948,501 204,764 183,328 91,794 1,265,230 4,693,617 53,585 — (1,378,128 ) 3,369,074 Total assets 443,340,979 16,118,967 12,581,473 5,657,191 28,059,619 505,758,229 2,019,322 — (27,303,155 ) 480,474,396 Investment in associate 917,581 — 40,987 6,548 22,427,853 23,392,969 29,658 — (22,116,991 ) 1,305,636 Other assets 442,423,398 16,118,967 12,540,486 5,650,643 5,631,766 482,365,260 1,989,664 — (5,186,164 ) 479,168,760 Total liabilities 417,583,793 13,692,456 11,040,754 4,982,410 4,146,997 451,446,410 50,762 — (2,650,118 ) 448,847,054 (*1) Other segments include gains and losses from Woori Financial Group Inc., Woori Asset Trust Co., Ltd., Woori Savings Bank, Woori Asset Management Corp., Woori Financial F&I Co., Ltd., Woori Credit Information Co., Ltd., Woori Fund Service Co., Ltd., Woori Private Equity Asset Management Co., Ltd., Woori Global Asset Management Co., Ltd., Woori FIS Co., Ltd. and Woori Finance Research Institute. (*2) Other segments includes the funds subject to Group’s consolidated not included in the reporting segment. (*3) Internal reconciliation includes the adjustment of deposit insurance premiums of KRW 423,834 million and fund contribution fees of KRW 402,057 million from net interest income expenses to non-interest (*4) Consolidation adjustments include the elimination of KRW 300,297 million of internal transactions between Woori FIS Co., Ltd., the group’s IT service agency, and affiliates, and the removal of KRW 1,272,393 million of dividends received by the holding company from its subsidiaries. (3) Operating profit or loss from external customers for the years ended December 31, 2020, 2021 and 2022 are as follows (Unit: Korean Won in millions): For the years ended December 31 Details 2020 2021 2022 Domestic 1,869,516 3,288,341 3,835,809 Foreign 210,878 371,408 594,715 Total 2,080,394 3,659,749 4,430,524 (4) Major non-current Details(*) December 31, December 31, Domestic 5,201,838 5,152,033 Foreign 482,930 533,354 Total 5,684,768 5,685,387 (*) 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, 2021 and 2022. |
Statements of cash flows
Statements of cash flows | 12 Months Ended |
Dec. 31, 2022 | |
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 1,742,449 1,771,316 Foreign currencies 503,205 628,590 Demand deposits 18,208,784 31,729,228 Fixed deposits 158,635 90,014 Total 20,613,073 34,219,148 (2) Details of restricted cash and cash equivalents are as follows (Unit: Korean Won in millions) Counterparty December 31, Reason of restriction Due from banks in local currency: Due from BOK on demand BOK 9,619,055 Reserve deposits under the BOK Act Due from banks in foreign currencies: Due from banks on demand BOK and others 3,428,200 Reserve deposits under the BOK Act and others Total 13,047,255 Counterparty December 31, Reason of restriction Due from banks in local currency: Due from BOK on demand BOK 16,527,445 Reserve deposits under the BOK Act Due from banks in foreign currencies: Due from banks on demand BOK and others 6,437,717 Reserve deposits under the BOK Act and others Total 22,965,162 (3) 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 2020 2021 2022 Changes in other comprehensive income related to valuation of financial assets at FVTOCI 59,360 (150,327 ) (493,871 ) Changes in other comprehensive income related to valuation of assets of associate (2,298 ) 1,526 612 Changes in other comprehensive income related to valuation profit or loss on cash flow hedge 4,420 7,107 (9,835 ) Changes in financial assets measure at FVTOCI due to debt-for-equity 3,575 79 14,594 Changes in the investment assets of associates due to the transfer of assets held-for-sale (50,411 ) (52 ) — Changes in financial assets at FVTPL and assets held-for-sale (2,385 ) — — Changes in the property, plant and equipment due to the transfer of assets held-for-sale — (12,852 ) (13,109 ) Transfer of investment properties and premises and equipment 30,431 6,095 7,153 Changes in account payables related to premises and equipment — — 281 Changes in account payables related to intangible assets (11,639 ) (11,640 ) (11,530 ) Changes in right-of-use 222,587 150,644 194,236 Comprehensive stock exchange — 64,301 — Changes in other comprehensive income related to foreign operation translation (153,472 ) 246,808 32,536 (4) 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, 2021 Beginning Cash flow Not involving cash inflows and outflows Ending Foreign Variation of 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 W For the year ended December 31, 2022 Beginning Cash flow Not involving cash inflows and outflows Ending Foreign Variation of Others(*) Borrowings 24,755,459 2,881,675 760,918 — 31,551 28,429,603 Debentures 44,653,864 (484,874 ) 297,861 (257,910 ) (10,455 ) 44,198,486 Lease liabilities 343,213 (187,531 ) 4,645 — 158,834 319,161 Other liabilities 26,907 513 — — (36 ) 27,384 Total 69,779,443 2,209,783 1,063,424 (257,910 ) 179,894 72,974,634 (*) The change in lease liabilities due to the new contract includes 235,215 million W |
Financial Assets at FVTPL
Financial Assets at FVTPL | 12 Months Ended |
Dec. 31, 2022 | |
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, 2021 and 2022 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 13,497,234 19,860,573 (2) Financial assets at fair value through profit or loss measured at fair value as of December 31, 2021 and 2022 are as follows (Unit: Korean Won in millions): December 31, December 31, Deposits: Gold banking asset 65,072 34,995 Securities: Debt securities Korean treasury and government agencies 995,713 2,754,442 Financial institutions 925,474 620,311 Corporates 751,636 721,573 Others 70,416 174,206 Equity securities 329,864 383,883 Capital contributions 1,287,723 1,976,474 Beneficiary certificates 3,504,547 3,902,762 Others 94,673 143,334 Sub-total 7,960,046 10,676,985 Loans 667,467 899,228 Derivatives assets 4,803,131 8,206,181 Other financial assets 1,518 43,184 Total 13,497,234 19,860,573 The Group does not have financial assets at fair value through profit or loss designated as upon initial recognition as of December 31, 2021 and 2022. |
Financial Assets at FVTOCI
Financial Assets at FVTOCI | 12 Months Ended |
Dec. 31, 2022 | |
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, 2021 and 2022 are as follows (Unit: Korean Won in millions): December 31, December 31, Debt securities: Korean treasury and government agencies 4,728,085 5,487,983 Financial institutions 22,909,615 16,870,619 Corporates 5,091,035 4,044,446 Bond denominated in foreign currencies 5,299,707 5,644,684 Securities loaned 98,535 98,026 Sub-total 38,126,977 32,145,758 Equity securities 992,812 939,322 Total 39,119,789 33,085,080 (2) Details of equity securities designated as financial assets at FVTOCI as of December 31, 2021 and 2022 are as follows (Unit: Korean Won in millions): Purpose of acquisition December 31, December 31, Purpose of acquisition Investment for strategic business partnership purpose 796,835 776,199 Debt-equity swap 195,971 157,216 Others 6 5,907 Insurance for mutual aid association etc. Total 992,812 939,322 (3) Changes in the loss allowance 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, 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 loss allowance (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 loss allowance (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. For the year ended December 31, 2022 Stage 1 Stage 2 Stage 3 Total Beginning balance (12,146 ) — — (12,146 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Reversal of loss allowance 827 — — 827 Disposal 714 — — 714 Others (*) (1,200 ) — — (1,200 ) Ending balance (11,805 ) — — (11,805 ) (*) Others consist of foreign currencies translation, etc. 2) Gross carrying amount 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. For the year ended December 31, 2022 Stage 1 Stage 2 Stage 3 Total Beginning balance 38,126,977 — — 38,126,977 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Acquisition 16,108,426 — — 16,108,426 Disposal / Recovery (21,670,160 ) — — (21,670,160 ) Gain (loss) on valuation (669,936 ) — — (669,936 ) Amortization based on effective interest method 41,813 — — 41,813 Others (*) 208,638 — — 208,638 Ending balance 32,145,758 — — 32,145,758 (*) Others consist of foreign currencies translation, etc. W W W W |
Securities at Amortized Cost
Securities at Amortized Cost | 12 Months Ended |
Dec. 31, 2022 | |
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, 2021 and 2022 are as follows (Unit: Korean Won in millions): December 31, December 31, Korean treasury and government agencies 8,882,500 10,083,951 Financial institutions 1,835,947 10,283,631 Corporates 5,818,646 6,237,547 Bond denominated in foreign currencies 554,416 1,671,772 Allowance for credit losses (5,235 ) (8,385 ) Total 17,086,274 28,268,516 (2) Changes in the loss allowance and gross carrying amount of securities at amortized cost are as follows (Unit: Korean Won in millions): 1) Loss allowance For the year ended December 31, 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 loss allowance 934 — — 934 Others (*) 11 — — 11 Ending balance (4,566 ) — — (4,566 ) (*) Changes due to 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 reversal of loss allowance (664 ) — — (664 ) Others (*) (5 ) — — (5 ) Ending balance (5,235 ) — — (5,235 ) (*) Changes due to foreign currencies translation, etc. For the year ended December 31, 2022 Stage 1 Stage 2 Stage 3 Total Beginning balance (5,235 ) — — (5,235 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net provision of loss allowance (3,151 ) — — (3,151 ) Others (*) 1 — — 1 Ending balance (8,385 ) — — (8,385 ) (*) Changes due to foreign currencies translation, etc. 2) Gross carrying amount 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 (*) Changes due to 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 (*) Changes due to foreign currencies translation, etc. For the year ended December 31, 2022 Stage 1 Stage 2 Stage 3 Total Beginning balance 17,091,509 — — 17,091,509 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Acquisition 16,873,194 — — 16,873,194 Disposal / Recovery (5,871,234 ) — — (5,871,234 ) Amortization based on effective interest method 86,212 — — 86,212 Others (*) 97,220 — — 97,220 Ending balance 28,276,901 — — 28,276,901 (*) Changes due to foreign currencies translation, etc. |
Loans and other financial asset
Loans and other financial assets at amortized cost | 12 Months Ended |
Dec. 31, 2022 | |
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, 2021 and 2022 are as follows (Unit: Korean Won in millions): December 31, December 31, Due from banks 2,866,884 2,994,672 Loans 336,799,510 343,918,560 Other financial assets 9,219,223 8,847,497 Total 348,885,617 355,760,729 (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”) 600,000 160,000 Due from depository banks 159,264 170,006 Due from non-depository 14,146 183 Due from the Korea Exchange 54 2,440 Others 191,501 421,318 Loss allowance (2,452 ) (116 ) Sub-total 962,513 753,831 Due from banks in foreign currencies: Due from banks on demand 194,781 199,671 Due from banks on time 205,351 466,963 Others 1,507,821 1,586,408 Loss allowance (3,582 ) (12,201 ) Sub-total 1,904,371 2,240,841 Total 2,866,884 2,994,672 (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 600,000 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 675,951 Due from banks in foreign currencies: Due from banks on demand The BOK and others 128,492 Reserve deposits under the BOK Act and others Foreign currency deposits on time National Bank Cambodia 237 Reserve deposits and others Others Korea Investment & Securities and others 1,502,474 Overseas futures and options trade deposits and others Sub-total 1,631,203 Total 2,307,154 Counterparty December 31, Reason of restriction Due from banks in local currency: Due from BOK BOK 160,000 Reserve deposits under BOK Act Due from KSFC The Korea Securities Finance Corporation 2,419 Customer deposits return reserve Others Korea Exchange and others 223,705 Korean Won CCP margin and others Sub-total 386,124 Due from banks in foreign currencies: Due from banks on demand BOK and others 193,507 Reserve deposits under BOK Act and others Due from banks on time National Bank Cambodia 253 Reserve deposits and others Others Korea Investment & Securities and others 1,581,298 Overseas futures and options trade deposits and others Sub-total 1,775,058 Total 2,161,182 (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, 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 ) (*) Changes due to 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 ) (*) Changes due to foreign currencies translation, etc For the year ended December 31, 2022 Stage 1 Stage 2 Stage 3 Total Beginning balance (6,034 ) — — (6,034 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Provision of allowance for credit losses (7,702 ) — — (7,702 ) Others (*) 1,419 — — 1,419 Ending balance (12,317 ) — — (12,317 ) (*) Changes due to foreign currencies translation, etc 2) Gross carrying amount For the year ended December 31, 2020 Stage 1 Stage 2 Stage 3 Total Beginning balance 3,135,940 — — 3,135,940 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net decrease (750,163 ) — — (750,163 ) Business combination 129,825 — — 129,825 Others (*) (329 ) — — (329 ) Ending balance 2,515,273 — — 2,515,273 (*) Changes due to foreign currencies translation, etc For the year ended December 31, 2021 Stage 1 Stage 2 Stage 3 Total Beginning balance 2,515,273 — — 2,515,273 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net increase 282,987 — — 282,987 Others (*) 74,658 — — 74,658 Ending balance 2,872,918 — — 2,872,918 (*) Changes due to foreign currencies translation, etc For the year ended December 31, 2022 Stage 1 Stage 2 Stage 3 Total Beginning balance 2,872,918 — — 2,872,918 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net increase 166,693 — — 166,693 Others (*) (32,622 ) — — (32,622 ) Ending balance 3,006,989 — — 3,006,989 (*) Changes due to foreign currencies translation, etc (5) Details of loans are as follows (Unit: Korean Won in millions): December 31, 2021 December 31, 2022 Loans in local currency 273,283,542 282,686,620 Loans in foreign currencies 24,508,250 26,988,360 Domestic banker’s usance 3,403,021 2,877,079 Credit card accounts 9,757,115 10,370,362 Bills bought in foreign currencies 5,310,080 3,650,792 Bills bought in local currency 265,275 533,879 Factoring receivables 17,406 25,469 Advances for customers on guarantees 26,766 25,698 Private placement bonds 519,150 485,519 Securitized loans 2,874,480 2,990,937 Call loans 3,481,219 3,626,226 Bonds purchased under resale agreements 10,332,858 6,849,038 Financial lease receivables 1,173,751 1,467,858 Installment financial bond 2,882,396 2,832,972 Others 159 140 Loan origination costs and fees 858,051 852,002 Discounted present value (7,299 ) (10,238 ) Allowance for credit losses (1,886,710 ) (2,334,153 ) Total 336,799,510 343,918,560 (6) Changes in the loss allowance of loans are as follows (Unit: Korean Won in millions): 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 Changes due to business combinations (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 loss allowance 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 Changes due to business combinations — — — (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 loss allowance (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 loss allowance 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 ) For the year ended December 31, 2022 Consumers Corporates Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Credit Beginning balance (136,520 ) (97,604 ) (206,617 ) (362,766 ) (576,740 ) (251,233 ) — Transfer to 12-month (21,684 ) 21,210 474 (74,402 ) 68,546 5,856 — Transfer to lifetime expected credit losses 10,211 (11,568 ) 1,357 18,678 (21,502 ) 2,824 — Transfer to credit-impaired financial assets 3,960 8,975 (12,935 ) 2,217 12,769 (14,986 ) — Net reversal(provision) of allowance for credit losses (734 ) (49,398 ) (156,286 ) (22,646 ) (303,198 ) (107,038 ) (27 ) Recovery — — (70,077 ) — — (55,743 ) — Charge-off 161,850 140,744 — Disposal — 62 21,862 280 128 — Interest income from impaired loans — — 11,805 — — 9,576 — Others (4,350 ) (495 ) (948 ) (479 ) (84 ) (97 ) — Changes due to business combinations 1,241 729 7,573 (14,503 ) 1,847 (9,090 ) — Ending balance (147,876 ) (128,089 ) (241,942 ) (453,621 ) (818,234 ) (241,465 ) (27 ) For the year ended December 31, 2022 Credit card accounts Total Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Credit Beginning balance (68,814 ) (115,489 ) (70,927 ) (568,100 ) (789,833 ) (528,777 ) — Transfer to 12-month (31,360 ) 31,284 76 (127,446 ) 121,040 6,406 — Transfer to lifetime expected credit losses 7,576 (7,694 ) 118 36,465 (40,764 ) 4,299 — Transfer to credit-impaired financial assets 642 2,190 (2,832 ) 6,819 23,934 (30,753 ) — Net reversal(provision) of allowance for credit losses 20,820 (38,105 ) (204,569 ) (2,560 ) (390,701 ) (467,893 ) (27 ) Recovery — — (53,988 ) — — (179,808 ) — Charge-off — — 220,280 — — 522,874 — Disposal — — 7,896 280 190 67,480 — Interest income from impaired loans — — — — Others — (4,829 ) (579 ) (1,045 ) — Changes due to business combinations (3 ) — — (13,265 ) 2,576 (1,517 ) — Ending balance (71,139 ) (127,814 ) (103,946 ) (672,636 ) (1,074,137 ) (587,353 ) (27 ) (7) Changes in the gross carrying amount of loans are as follows (Unit: Korean Won in millions): 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 ) Changes due to business combinations 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 Changes due to business combinations — — — 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 For the year ended December 31, 2022 Consumers Corporates Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Credit Beginning balance 135,139,685 13,500,783 499,969 170,795,255 8,458,279 541,732 — Transfer to 12-month expected credit losses 4,651,157 (4,637,460 ) (13,697 ) 1,784,684 (1,768,655 ) (16,029 ) — Transfer to lifetime expected credit losses (6,284,951 ) 6,303,526 (18,575 ) (3,773,713 ) 3,792,473 (18,760 ) — Transfer to credit-impaired financial assets (157,808 ) (102,097 ) 259,905 (242,421 ) (123,225 ) 365,646 — Charge-off — — (161,850 ) — — (140,744 ) — Disposal — (259 ) (57,052 ) (48,472 ) (391 ) (134,732 ) — Net increase (decrease) (2,077,449 ) (1,046,885 ) 47,727 11,005,551 (873,200 ) 28,198 313,717 Changes due to business combinations 57,743 2,974 7,630 31,551 1,016 687 — Ending balance 131,328,377 14,020,582 564,057 179,552,435 313,717 For the year ended December 31, 2022 Credit card accounts Total Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Credit Beginning balance 8,239,303 1,395,139 116,075 314,174,243 23,354,201 1,157,776 — Transfer to 12-month expected credit 542,021 (541,913 ) (108 ) 6,977,862 (6,948,028 ) (29,834 ) — Transfer to lifetime expected credit losses (403,398 ) 403,598 (200 ) (10,462,062 ) 10,499,597 (37,535 ) — Transfer to credit-impaired financial assets (31,780 ) (21,244 ) 53,024 (432,009 ) (246,566 ) 678,575 — Charge-off — — (220,280 ) — — (522,874 ) — Disposal — — (17,082 ) (48,472 ) (650 ) (208,866 ) — Net increase (decrease) 769,314 (169,200 ) 247,981 9,697,416 (2,089,285 ) 323,906 313,717 Changes due to business combinations — — — 89,294 3,990 8,317 — Ending balance 179,410 319,996,272 24,573,259 1,369,465 313,717 (8) Details of other financial assets are as follows (Unit: Korean Won in millions): December 31, 2021 December 31, 2022 Cash Management Account asset (CMA asset) 140,000 157,000 Receivables 6,852,139 5,438,469 Accrued income 1,049,857 1,667,397 Telex and telephone subscription rights and refundable deposits 870,707 801,536 Domestic exchange settlement debit 82,555 577,919 Other assets (*) 290,746 344,356 Allowance for credit losses (66,781 ) (139,180 ) Total 9,219,223 8,847,497 (*) The Group became aware of employee embezzlement incidents that occurred before the end of April 2022, and the Financial Supervisory Service conducted on-site accusation of embezzlement and provisional seizure of found property were made . (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, 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 Changes due to 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 loss allowance 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 ) For the year ended December 31, 2022 Stage 1 Stage 2 Stage 3 Total Beginning balance (3,675 ) (5,580 ) (57,526 ) (66,781 ) Transfer to 12-month (261 ) 246 15 — Transfer to lifetime expected credit losses 209 (225 ) 16 — Transfer to credit-impaired financial assets 981 1,134 (2,115 ) — Reversal (provision) of loss allowance (1,749 ) (4,707 ) (6,329 ) (12,785 ) Charge-off — — 2,223 2,223 Disposal — — 751 751 Others 317 (1 ) (62,904 ) (62,588 ) Ending balance (4,178 ) (9,133 ) (125,869 ) (139,180 ) (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, 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 ) Changes due to 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 For the year ended December 31, 2022 Stage 1 Stage 2 Stage 3 Total Beginning balance 9,004,539 106,597 174,868 9,286,004 Transfer to 12-month 9,765 (9,749 ) (16 ) — Transfer to lifetime expected credit losses (38,248 ) 38,265 (17 ) — Transfer to credit-impaired financial assets (1,484 ) (2,824 ) 4,308 — Charge-off — — 24 24 Disposal (5 ) — (917 ) (922 ) Net increase (decrease) (88,214 ) (110,835 ) (99,748 ) (298,797 ) Changes due to business combinations 368 — — 368 Ending balance 8,886,721 21,454 78,502 8,986,677 |
Fair value of financial assets
Fair value of financial assets and liabilities | 12 Months Ended |
Dec. 31, 2022 | |
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, 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 (Designated for hedging) — 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 (Designated for hedging) — 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. December 31, 2022 Level 1 (*) Level 2 (*) Level 3 Total Financial assets: Financial assets at FVTPL Deposits 34,995 — — 34,995 Debt securities 2,580,563 1,654,591 1,078 4,236,232 Equity securities 76,007 25 307,851 383,883 Capital contributions — — 1,976,474 1,976,474 Beneficiary certificates 45,394 2,398,592 1,458,776 3,902,762 Loans — 794,723 104,505 899,228 Derivative assets 69,316 8,042,895 93,970 8,206,181 Other financial assets in foreign currency — — 41,679 41,679 Others 34,299 — 144,840 179,139 Sub-total 2,840,574 12,890,826 4,129,173 19,860,573 Financial assets at FVTOCI Debt securities 9,895,456 22,250,302 — 32,145,758 Equity securities 382,257 — 557,065 939,322 Sub-total 10,277,713 22,250,302 557,065 33,085,080 Derivative assets (designated for hedging) — 37,786 — 37,786 Total 13,118,287 35,178,914 4,686,238 52,983,439 Financial liabilities: Financial liabilities at FVTPL Deposits due to customers 35,161 — — 35,161 Derivative liabilities 11,700 8,883,976 9,449 8,905,125 Securities sold 12,113 — — 12,113 Sub-total 58,974 8,883,976 9,449 8,952,399 Derivative liabilities (designated for hedging) — 202,911 — 202,911 Total 58,974 9,086,887 9,449 9,155,310 (*) Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 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, 2021 and 2022 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. Values of underlying assets such as bond 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, volatility, 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, 2021 and 2022 are as follows: Valuation methods Input variables Loans Fair value is calculated by using Binomial Tree, LSMC and Discounted Cash Flow Model which is a valuation technique commonly used in the market taking into account value of underlying assets, volatility, discount rate. Value of underlying assets Volatility, Discount rate Debt securities 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 debt securities issuers. Fair value is measured by models such as LSMC (Least-Squares Monte Carlo), Hull-white. Risk-free market rate, credit spread, discount rate originated credit grade, volatility of stock price, volatility of interest 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, Imputed Market Value Model 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, discount rate originated credit grade, stock prices, volatility of underlying asset, net asset value, volatility of stock price, volatility of interest rate, Capital increase amount, Fluctuation rate of real estate sale price, etc 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, volatility, etc. Others The fair value of the underlying asset, after calculating the fair value using the DCF model, etc., considering the price and volatility of the calculated underlying asset, is calculated using the binomial tree and least-squares Monte Carlo simulation (LSMC), which are commonly used valuation techniques in the market. 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: Fair value Type Significant Range(%) Impact of changes in significant Loans Binomial Tree Stock prices 46.53% Variation of fair value increases as volatility of underlying asset and stock price increases. DCF model Discount rate 1.98%~2.18% Fair value decreases as discount rate increases. Derivative assets Option valuation model and others Equity related Correlation coefficient 0.21~0.67 Variation of fair value increases as correlation coefficient increases. Derivative liabilities Option valuation model and others Equity related Correlation coefficient 0.21~0.67 Variation of fair value increases as correlation coefficient increases. Volatility of underlying asset 11.74% ~ 97.16% Variation of fair value increases as volatility of underlying assets increases. Equity securities, capital contributions, and beneficiary certificates Binomial Tree Stock prices, Volatility of underlying asset 28.40% Variation of fair value increases as volatility of underlying asset and stock price increases. DCF model and others Discount rate 0.00%~19.14% Fair value increases as discount rate decreases. Terminal growth rate 0.00%, 1.00% Fair value increases as terminal growth rate increases. Liquidation value 0.00% Fair value increases as liquidation value increases. Others Binomial Tree Stock prices, Volatility of underlying asset 20.15%~36.19% Variation of fair value increases as volatility of underlying asset and stock price increases. Fair value of financial assets and liabilities classified into Level 3 is measured by the Group using its own valuation methods or using external specialists. Unobservable inputs used in the fair value measurements are produced by the internal system of the Group and the appropriateness of inputs is reviewed regularly. (3) Changes in financial assets and liabilities measured at fair value classified into Level 3 are as follows (Unit: Korean Won in millions): For the year ended December 31, 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. For the year ended December 31, 2022 Beginning Net (*1) Other Purchases/ issuances Disposals / settlements Transfer to or (*2) Ending Financial assets: Financial assets at FVTPL Debt securities 2,117 (40 ) — — (999 ) — 1,078 Equity securities 303,985 697 — 20,175 (16,974 ) (32 ) 307,851 Capital contributions 1,287,723 103,376 — 703,160 (117,785 ) — 1,976,474 Beneficiary certificates 1,104,074 (2,922 ) — 98,420 259,204 — 1,458,776 Loans 213,635 17,544 — 802,092 (928,766 ) — 104,505 Derivative assets 29,348 64,359 — 582 (319 ) — 93,970 Other foreign currency financial assets — — — 41,679 — — 41,679 Others 96,191 16,744 — 40,836 (8,931 ) — 144,840 Sub-total 3,037,073 199,758 — 1,706,944 (814,570 ) (32 ) 4,129,173 Financial assets at FVTOCI Equity securities 581,455 — 2,084 2,357 (28,831 ) — 557,065 Total 3,618,528 199,758 2,084 1,709,301 (843,401 ) (32 ) 4,686,238 Financial liabilities: Financial liabilities at FVTPL Derivative liabilities 4,641 8,058 — (351 ) (2,899 ) — 9,449 Total 4,641 8,058 — (351 ) (2,899 ) — 9,449 (*1) For financial liabilities, positive numbers represent losses that increase balance and negative numbers represent gains that decrease balance. The gain amounting to 2,770 million Won for the year ended December 31, 2022, 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 3,623,168 million Won and The sensitivity on fluctuation of input variables by financial instruments as of December 31, 2020, 2021 and 2022 is as follows (Unit: Korean Won in millions): December 31, 2020 Net income 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 (-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 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 (-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%. December 31, 2022 Net income Other comprehensive income (loss) Favorable Unfavorable Favorable Unfavorable Financial assets: Financial assets at FVTPL Derivative assets (*1) 2,453 (1,993 ) — — Loans (*2) 203 (200 ) — — Debt securities 1 — — — Equity securities (*2)(*3)(*4) 10,146 (8,079 ) — — Beneficiary certificates (*4) 737 (737 ) — — Others (*2) 2,860 (2,790 ) — — Financial assets at FVTOCI — — — — Equity securities (*3)(*4) — — 24,370 (17,579 ) Total 16,400 (13,799 ) 24,370 (17,579 ) Financial liabilities: Financial liabilities at FVTPL Derivative liabilities (*1) 41 (39 ) — — Total 41 (39 ) — — (*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, 2021 Fair value Carrying amount 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 — 3 346,871,245 346,871,248 348,885,617 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 December 31, 2022 Fair value Carrying amount Level 1 Level 2 Level 3 Total Financial assets: Securities at amortized cost 2,652,449 24,623,369 — 27,275,818 28,268,516 Loans and other financial assets at amortized cost — 6,238,724 345,952,544 352,191,268 355,760,729 Financial liabilities: Deposits due to customers — 343,931,576 — 343,931,576 342,105,209 Borrowings — 26,063,256 2,135,047 28,198,303 28,429,603 Debentures — 42,918,411 — 42,918,411 44,198,486 Other financial liabilities — 21,244,664 536,209 21,780,873 22,492,705 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, 2021 Financial assets Financial Financial Financial Derivatives Total Deposits 65,072 — 2,866,884 — 2,931,956 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 39,119,789 365,971,891 106,764 418,695,678 December 31, 2021 Financial liabilities Financial Financial 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 December 31, 2022 Financial assets Financial Financial Financial Derivatives Total Deposits 34,995 — 2,994,672 — 3,029,667 Securities 10,676,985 33,085,080 28,268,516 — 72,030,581 Loans 899,228 — 343,918,560 — 344,817,788 Derivative assets 8,206,181 — — 37,786 8,243,967 Other financial assets 43,184 — 8,847,497 — 8,890,681 Total 19,860,573 33,085,080 384,029,245 37,786 437,012,684 December 31, 2022 Financial liabilities Financial Financial Derivatives Total Deposits due to customers 35,161 342,105,209 — 342,140,370 Borrowings 12,113 28,429,603 — 28,441,716 Debentures — 44,198,486 — 44,198,486 Derivative liabilities 8,905,125 — 202,911 9,108,036 Other financial liabilities — 22,492,707 — 22,492,707 Total 8,952,399 437,226,005 202,911 446,381,315 (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, 2020, 2021 and 2022 are as follows (Unit: Korean Won in millions): For the year ended December 31, 2020 Interest Fees and 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 Reversal 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 For the year ended December 31, 2022 Interest Fees and Reversal Gain or Dividends, Total Financial assets at FVTPL 106,698 (134 ) — 238,502 136,136 481,202 Financial assets at FVTOCI 632,615 1,606 827 (21,498 ) 23,846 637,396 Securities at amortized cost 515,246 — (3,151 ) — — 512,095 Loans and other financial assets at amortized cost 13,399,990 600,902 (881,668 ) 74,204 — 13,193,428 Financial liabilities at amortized cost (5,950,277 ) 2,094 — — — (5,948,183 ) Net derivatives (designated for hedging) — — — 78,822 — 78,822 Total 8,704,272 604,468 (883,992 ) 370,030 159,982 8,954,760 |
Derecognition And Offset Of Fin
Derecognition And Offset Of Financial Instruments | 12 Months Ended |
Dec. 31, 2022 | |
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, 2021 December 31, 2022 Assets transferred Financial assets at FVTPL 248,009 214,577 Financial assets at FVTOCI 127,065 583,198 Securities at amortized cost 38,995 1,171,300 Total 414,069 1,969,075 Related liabilities Bonds sold under repurchase agreements 749,976 1,898,744 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 amount 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 98,535 98,027 Korea Securities Finance Corporation 3) Liquidity of financial assets As of December 31, 2021 and 2022, 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, 2021 December 31, 2022 Carrying amount (*) Carrying amount (*) Assets transferred Financial assets at FVPL 151,930 49,808 Loans at amortized cost 4,682,882 4,640,182 Related liabilities Asset-backed borrowings 2,424,080 231,800 Asset-backed bonds 978,274 1,209,364 (*) 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 has been offset with a part of unpaid domestic exchange payables, and they have 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, 2021 and 2022, 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, 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. December 31, 2022 Gross Gross Net amounts of Related amounts not setoff Net amounts Netting Cash Financial assets: Derivative assets (*1) 7,032,465 — 7,032,465 9,175,416 748,981 1,616,779 Receivable spot exchange (*2) 4,508,711 — 4,508,711 Bonds purchased under resale agreements (*2) 6,793,938 — 6,793,938 6,793,938 — — Domestic exchange settlement debits (*2)(*5) 39,787,371 39,209,452 577,919 — — 577,919 Total 58,122,485 39,209,452 18,913,033 15,969,354 748,981 2,194,698 Financial liabilities: Derivative liabilities (*1) 7,652,440 — 7,652,440 10,043,092 145,268 1,972,695 Payable spot exchange (*3) 4,508,615 — 4,508,615 Bonds sold under repurchase agreements (*4) 2,313,044 — 2,313,044 2,313,044 — — Domestic exchange settlement credits (*3)(*5) 43,841,373 39,209,452 4,631,921 2,504,062 — 2,127,859 Total 58,315,472 39,209,452 19,106,020 14,860,198 145,268 4,100,554 (*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, 2022 | |
Equity Method Investments And Joint Ventures [Abstract] | |
Investments 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 (*4) Main business December 31, December 31, Location Financial Woori Bank W Service Networks Co., Ltd. (*1) Freight & staffing services 4.9 4.9 Korea 2022.11.30 (*5) Korea Credit Bureau Co., Ltd. (*2) Credit information 9.9 9.9 Korea 2022.12.31 Korea Finance Security Co., Ltd. (*1) Security service 15.0 15.0 Korea 2022.11.30 (*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 — Reading Doctors Co., Ltd. (*3)(*11) Other services 35.4 — Korea — Cultizm Korea LTD Co., Ltd. (*3)(*11) Wholesale and retail sales 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 2022.12.31 2016KIF-IMM Other financial services 20.0 20.0 Korea 2022.12.31 K BANK Co., Ltd. (*2) Finance 12.6 12.6 Korea 2022.12.31 Woori Bank-Company K Korea Movie Asset Fund (*9) Other financial services 25.0 25.0 Korea 2022.12.31 Partner One Value Up I Private Equity Fund Other financial services 23.3 23.3 Korea 2022.12.31 IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership Other financial services 20.0 20.0 Korea 2022.12.31 Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund Other financial services 25.0 25.0 Korea 2022.12.31 LOTTE CARD Co., Ltd. Credit card and installment financing 20.0 20.0 Korea 2022.9.30 (*5) Together-Korea Government Private Pool Private Securities Investment Trust No. 3 Other financial services 100.0 100.0 Korea 2022.12.31 Genesis Environmental Energy Company 1st Private Equity Fund (*8) Trust and collective investment 24.8 — Korea — Union Technology Finance Investment Association Trust and collective investment 29.7 29.7 Korea 2022.12.31 Dicustody Co., Ltd. (*2) Other information technology and computer operation related services 1.0 1.0 Korea 2022.12.31 Orient Shipyard Co., Ltd. (*3) Manufacture of sections for ships — 22.7 Korea 2022.12.31 Joongang Network Solution Co.,Ltd. (*3) Other information technology — 25.3 Korea — BTS 2nd Private Equity Fund Other financial services — 20.0 Korea 2022.12.31 STASSETS FUND III Other financial services — 28.3 Korea 2022.12.31 Woori Bank (*6) Japanese Hotel Real Estate Private Equity Fund No.2 Other financial services 19.9 19.9 Korea 2022.12.31 Woori Seoul Beltway Private Special Asset Fund No.1 Trust and collective investment 25.0 25.0 Korea 2022.12.31 Woori Multi-Return Securities Investment Trust 3(Balanced Bond) (*8) Collective investment business 20.0 — Korea — Percentage of ownership (%) Joint ventures and associates (*4) Main business December 31, December 31, Location Financial Woori Short-term Bond Securities Investment Trust(Bond) ClassC-F Collective investment business 14.5 27.9 Korea 2022.12.31 Woori Safe Plus General Type Private Investment Trust S-8(Bond) Collective investment business — 9.2 Korea 2022.12.31 Woori Financial Capital Co., Ltd. WOORI TAERIM 1st Fund Other financial services 25.6 25.6 Korea 2022.12.31 Portone-Cape Fund No.1 Other financial services 20.0 20.0 Korea 2022.12.31 KIWOOM WOORI Financial 1st Fund (*7) Other financial services 9.1 9.1 Korea 2022.12.31 DeepDive WOORI 2021-1 (*7) Other financial services 11.9 11.9 Korea 2022.12.31 Darwin Green Packaging Private Equity Fund Other financial services 20.4 20.4 Korea 2022.12.31 DS Power Semicon Private Equity Fund Other financial services — 21.0 Korea 2022.12.31 Koreawide partners 2nd Private Equity Fund Other financial services — 26.7 Korea 2022.12.31 Woori Investment Bank Co., Ltd. (*6) Woori FirstValue Private Real Estate Fund No.2 Real estate business 12.0 12.0 Korea 2022.12.31 WooriG Real Infrastructure Blind General Type Private Placement Investment Trust Investment trust and discretionary investment business 0.3 0.1 Korea 2022.12.31 Woori Asset Management Co. Ltd. Woori BIG2 Plus Securities Investment Trust(Balanced Bond) (*12) Collective investment business — 23.1 Korea 2022.12.31 Woori Together TDF 2025 (*12) Collective investment business — 23.6 Korea 2022.12.31 Woori Together TDF 2030 (*12) Collective investment business — 23.8 Korea 2022.12.31 Woori Star50 feeder fund(H) (*12) Collective investment business — 17.9 Korea 2022.12.31 Woori Private Equity Asset Management Co., Ltd. Woori Hanhwa Eureka Private Equity Fund (*10) Other financial services 0.8 — Korea — Aarden Woori Apparel 1st Private Equity Fund (*2) Other financial services 0.5 0.5 Korea 2022.12.31 Woori Dyno 1st Private Equity Fund (*2) Other financial services — 19.6 Korea 2022.12.31 Australia Green Energy 1st PEF (*2) Other financial services — 4.0 Korea 2022.12.31 Japanese Hotel Real Estate Private Equity Fund 1 Godo Kaisha Oceanos 1 Other financial services 47.8 47.8 Japan 2022.10.31 (*5) Woori G Japan Private Placement Real Estate Master Investment Trust No.2 Woori Zip 1 Other financial services 63.9 64.0 Japan 2022.9.30 (*5) Woori Zip 2 Other financial services 63.8 64.0 Japan 2022.9.30 (*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 29.7 29.8 Korea — G2 Collection Co., Ltd. (*3) Wholesale and retail sales 29.2 29.2 Korea — The Base Enterprise Co., Ltd. (*3)(*11) Manufacturing 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)(*11) Complex transportation brokerage 49.8 — Korea — DAEA SNC Co., Ltd. (*3) Wholesale and retail sales 25.5 25.5 Korea — Force TEC Co., Ltd. Manufacturing 24.5 24.5 Korea 2022.9.30 (*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 — Percentage of ownership (%) Joint ventures and associates (*4) Main business December 31, December 31, Location Financial KUM HWA Co., Ltd. Telecommunication equipment retail sales 20.1 20.1 Korea 2022.09.30 (*5) Jinmyung Plus Co., Ltd. Manufacturing 21.3 21.3 Korea 2022.09.30 (*5) Woori bank and Woori Financial Capital Co., Ltd. (*6) JC Assurance No.2 Private Equity Fund Other financial services 24.4 23.5 Korea 2022.09.30 (*5) Dream Company Growth no.1 PEF Other financial services 27.8 27.8 Korea 2022.12.31 HMS-Oriens 1st Fund Other financial services 22.8 22.8 Korea 2022.12.31 Woori G Senior Loan Private Placement Investment Trust No.1 Collective investment business 21.7 21.7 Korea 2022.12.31 Genesis Eco No.1 Private Equity Fund Other financial services 29.0 29.0 Korea 2022.12.31 Paratus Woori Material Component Equipment joint venture company Other financial services 29.9 29.9 Korea 2022.12.31 Midas No. 8 Private Equity Joint Venture Company Other financial services 28.5 28.5 Korea 2022.12.31 Orchestra Private Equity Fund IV Other financial services — 28.2 Korea 2022.12.31 Synaptic Green No.1 PEF Other financial services — 21.1 Korea 2022.12.31 IGEN2022No. 1 Private Equity Fund Other financial services — 24.8 Korea 2022.12.31 Woori Bank and Woori Investment Bank Co., Ltd. (*6) PCC-Woori Other financial services 38.8 38.8 Korea 2022.12.31 Woori bank and Woori Asset Management Co., Ltd. (*6) Woori High Plus Short-term High Graded ESG Bond Sec Feeder Inv Trust 1 (*10) Collective investment business 27.5 — Korea — Woori Bank and Woori Private Equity Asset Management Co., Ltd. (*6) Woori-Q Other financial services 38.1 35.6 Korea 2022.12.31 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 2022.12.31 (*1) Most of the significant business transactions of associates are with the Group as of December 31, 2022 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, 2022 and 2021. (*4) Woori G Oncorp Corporate support of Major Industry General Type Private Placement Investment Trust (Type 2) and other 13 joint ventures and associates can exercise significant influence but was classified as an item measured at fair value through profit or loss. (*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 the reporting period 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) It was excluded due to liquidation. (*9) It was dissoluted and will be liquidated. (*10) It was excluded from associates during the period. (*11) It was excluded as Woori Bank sold its shares during the period. (*12) It was reclassified to associate from subsidiary resulted from the loss of control along with the changes in percentage of ownership. (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, 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 For the year ended December 31, 2020 Acquisition January 1, Share of Acquisition Disposal/ Dividends Business Change in December 31, 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 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 1st Fund 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 ) — — — 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 For the year ended December 31, 2021 Acquisition January 1, Share of Acquisition Disposal/ Dividends Change in December 31, 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) — — — — — — — — Jinmyung Plus 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 1st Fund 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 Trust 1 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 W (*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 W For the year ended December 31, 2022 Acquisition January 1, Share of Acquisition Disposal/ Dividends Change in December 31, W Service Networks Co., Ltd. 108 183 29 — — (4 ) — 208 Korea Credit Bureau Co., Ltd. 3,313 9,423 (3,714 ) — — — — 5,709 Korea Finance Security Co., Ltd. 3,267 3,101 (727 ) — — — — 2,374 Woori Growth Partnerships New Technology Private Equity Fund 12,942 12,448 490 — (2,049 ) — — 10,889 2016KIF-IMM 7,594 12,630 (1,619 ) — (801 ) (736 ) — 9,474 K BANK Co., Ltd. 236,232 239,493 11,854 — — — (3,558 ) 247,789 Woori Bank-Company K Korea Movie Asset Fund — 345 71 — — (177 ) — 239 Partner One Value Up I Private Equity Fund 5,039 6,576 (2,298 ) — — — — 4,278 IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 7,556 11,153 1,312 — (2,180 ) — — 10,285 Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 4,355 4,254 1 100 — — — 4,355 LOTTE CARD Co.,Ltd. 346,810 458,295 58,400 — — (12,960 ) 10,396 514,131 Together-Korea Government Private Pool Private Securities Investment Trust No. 3 10,000 10,070 173 — — — — 10,243 Genesis Environmental Energy Company 1st Private Equity Fund — 4,126 (41 ) — (3,738 ) (347 ) — — Union Technology Finance Investment Association 14,637 12,388 187 2,250 (363 ) — — 14,462 Dicustody Co., Ltd. 1 1 — — — — — 1 Orient Shipyard Co., Ltd. — — — — — — — — BTS 2nd Private Equity Fund 3,026 — (145 ) 3,026 — — — 2,881 STASSETS FUND III 1,500 — (270 ) 1,500 — — — 1,230 Japanese Hotel Real Estate Private Equity Fund No.2 3,174 3,196 194 — — (299 ) (236 ) 2,855 Woori Seoul Beltway Private Special Asset Fund No.1 9,791 7,551 246 2,312 — (235 ) — 9,874 Woori Multi-Return Securities Investment Trust 3 (Balanced Bond) — 10,023 — — (9,950 ) (73 ) — — Woori Short-term Bond Securities Investment Trust(Bond) ClassC-F 110,000 151,822 2,312 50,000 (90,137 ) (1,972 ) — 112,025 Woori Safe Plus General Type Private Investment Trust S-8(Bond) 10,000 — 230 10,000 — (48 ) — 10,182 WOORI TAERIM 1st Fund 1,100 991 (3 ) — — — — 988 Portone-Cape Fund No.1 340 489 (25 ) — — — — 464 KIWOOM WOORI Financial 1st Investment Fund 1,000 973 (20 ) — — — — 953 DeepDive WOORI 2021-1 900 993 (12 ) — (100 ) (3 ) — 878 Darwin Green Packaging Private Equity Fund 4,000 3,957 388 — — (400 ) — 3,945 DS Power Semicon Private Equity Fund 3,000 — 245 3,000 — (269 ) — 2,976 Koreawide partners 2nd Private Equity Fund 20,000 — — 20,000 — — — 20,000 Woori FirstValue Private Real Estate Fund No.2 9,000 763 (6 ) — (199 ) — — 558 For the year ended December 31, 2022 Acquisition January 1, Share of Acquisition Disposal/ Dividends Change in December 31, WooriG Real Infrastructure Blind General Type Private Placement Investment Trust 100 100 2 — — — — 102 Woori BIG2 Plus Securities Investment Trust(Balanced Bond) 1,200 — (161 ) — 1,235 — — 1,074 Woori Together TDF 2025 2,000 — (202 ) — 2,192 — — 1,990 Woori Together TDF 2030 2,000 — (214 ) — 2,247 — — 2,033 WOORI Star50 feeder fund(H) 200 — (5 ) — 131 — — 126 Woori Hanhwa Eureka Private Equity Fund — 327 (48 ) — (164 ) (115 ) — — Aarden Woori Apparel 1st Private Equity Fund 100 99 (2 ) — — — — 97 Woori Dyno 1st Private Equity Fund 2,000 — (6 ) 2,000 — — — 1,994 Australia Green Energy 1st PEF 4,913 — (55 ) 4,913 — — — 4,858 Godo Kaisha Oceanos 1 10,800 9,905 84 — — (1,049 ) (152 ) 8,788 Woori Zip 1 9,254 10,496 (138 ) — (873 ) — (795 ) 8,690 Woori Zip 2 12,928 14,732 (127 ) — (1,309 ) — (1,116 ) 12,180 Force TEC Co., Ltd. (*) — — 56 — — — (56 ) — KUM HWA Co., Ltd. (*) — — — — — — — — Jinmyung Plus Co., Ltd. — — 10 — — — — 10 JC Assurance No.2 Private Equity Fund 29,349 17,728 (17,728 ) — — — — — Dream Company Growth no.1 PEF 7,412 7,914 418 — — (471 ) — 7,861 HMS-Oriens 1st Fund 12,000 12,007 1,245 — — — — 13,252 WooriG Senior Loan General Type Private Investment Trust No.1 80,268 88,029 3,788 14,073 (20,322 ) (3,707 ) — 81,861 Genesis Eco No.1 Private Equity Fund 12,000 11,120 (99 ) 195 — — — 11,216 Paratus Woori Material Component Equipment joint venture company 17,700 17,493 (243 ) — — — — 17,250 Midas No. 8 Private Equity Joint Venture Company 18,735 18,968 275 — — (530 ) — 18,713 Orchestra Private Equity Fund IV 9,878 — 197 10,000 (122 ) (377 ) — 9,698 Synaptic Green No.1 PEF 8,000 — (207 ) 8,000 — — — 7,793 IGEN2022No. 1 Private Equity Fund 7,822 — 650 8,000 (475 ) (165 ) — 8,010 PCC-Woori 10,440 12,350 674 3,440 (3,480 ) — — 12,984 Woori High Plus Short-term High Graded ESG Bond Sec Feeder Inv Trust 1 — 73,787 — — (73,598 ) (189 ) — — Woori-Q 27,063 46,155 (288 ) 536 (18,867 ) — — 27,536 Woori-Shinyoung Growth-Cap 17,018 28,713 14,561 — — — — 43,274 1,131,865 1,335,167 69,689 143,345 (222,922 ) (24,126 ) 4,483 1,305,636 (*) As a result of discontinuation of the equity method, related companies’ losses amount not recognized is 665 million Won for Force TEC Co., Ltd. 3,743 million Won for Orient Shipyard Co., Ltd. and 0.2 million Won for KUM HWA Co., Ltd. and cumulated amount is 1,462 million Won for Force TEC Co., Ltd. 3,743 million Won for Orient Shipyard 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, 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 2 16,104 14 911 1,196 (373 ) 823 Woori Seoul Beltway Private Special Asset Fund No.1 30,206 1 536 500 — 500 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 ) December 31, 2021 Assets Liabilities Operating Net (loss) Other Total 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 ) Jinmyung Plus 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 1st Fund 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 December 31, 2022 Assets Liabilities Operating Net (loss) Other Total W Service Networks Co., Ltd. 7,052 2,825 19,697 1,215 — 1,215 Korea Credit Bureau Co., Ltd. 155,165 100,065 144,907 13,809 — 13,809 Korea Finance Security Co., Ltd. 28,792 12,964 47,043 (3,856 ) — (3,856 ) Woori Growth Partnerships New Technology Private Equity Fund 47,394 208 2,978 2,185 — 2,185 2016KIF-IMM 47,979 609 665 (7,839 ) — (7,839 ) K BANK Co., Ltd. 16,694,289 14,896,426 491,880 91,059 (32,156 ) 58,903 Woori Bank-Company K Korea Movie Asset Fund (*1) 989 33 462 324 — 324 Partner One Value Up I Private Equity Fund 18,395 — (9,431 ) (9,831 ) — (9,831 ) IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 51,804 385 8,092 7,288 — 7,288 December 31, 2022 Assets Liabilities Operating Net (loss) Other Total Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 15,811 95 1 (383 ) — (383 ) LOTTE CARD Co., Ltd. (*2) 19,983,059 17,179,093 1,925,577 268,096 43,162 311,258 Together-Korea Government Private Pool Private Securities Investment Trust No. 3 10,246 1 218 170 — 170 Union Technology Finance Investment Association 48,991 299 2,300 632 — 632 Dicustody Co., Ltd. 95 — — (3 ) — (3 ) Orient Shipyard Co., Ltd. 10,832 27,225 — (16,467 ) — (16,467 ) BTS 2nd Private Equity Fund 15,012 608 1 (725 ) — (725 ) STASSETS FUND III 4,660 313 37 (953 ) — (953 ) Japanese Hotel Real Estate Private Equity Fund 2 14,387 13 1,050 968 (1,186 ) (218 ) Woori Seoul Beltway Private Special Asset Fund No.1 39,497 2 1,028 984 — 984 Woori Short-term Bond Securities Investment Trust(Bond) ClassC-F 468,357 67,022 14,189 11,804 — 11,804 Woori Safe Plus General Type Private Investment Trust S-8(Bond) 115,781 4,508 1,899 1,763 — 1,763 WOORI TAERIM 1st Fund 4,047 185 — (13 ) — (13 ) Portone-Cape Fund No.1 2,344 26 — (129 ) — (129 ) KIWOOM WOORI Financial 1st Investment Fund 10,597 111 1 (222 ) — (222 ) DeepDive WOORI 2021-1 7,412 37 57 (103 ) — (103 ) Darwin Green Packaging Private Equity Fund 19,332 — 2,215 1,904 — 1,904 DS Power Semicon Private Equity Fund 14,230 44 1,185 937 — 937 Koreawide partners 2nd Private Equity Fund 77,039 2,038 3,020 1 — 1 Woori FirstValue Private Real Estate Fund No.2 67,005 62,357 3 (54 ) — (54 ) WooriG Real Infrastructure Blind General Type Private Placement Investment Trust 73,064 56 3,140 2,874 — 2,874 Woori BIG2 Plus Securities Investment Trust(Balanced Bond) 4,667 12 389 (636 ) — (636 ) Woori Together TDF 2025 8,513 16 1,287 (1,018 ) — (1,018 ) Woori Together TDF 2030 8,615 — 1,352 (1,108 ) — (1,108 ) WOORI Star50 feeder fund(H) 709 — 48 (480 ) — (480 ) Aarden Woori Apparel 1st Private Equity Fund 20,750 89 8 (325 ) — (325 ) Woori Dyno 1st Private Equity Fund 10,212 43 200 (31 ) — (31 ) Australia Green Energy 1st PEF 122,634 14 30 (1,380 ) — (1,380 ) Godo Kaisha Oceanos 1 63,741 45,358 2,942 176 — 176 Woori Zip 1 48,309 34,346 2,085 (215 ) — (215 ) Woori Zip 2 68,388 48,927 3,069 (198 ) — (198 ) Force TEC Co., Ltd. 10,489 24,804 25,182 (2,664 ) — (2,664 ) KUM HWA Co., Ltd. 4 159 — (8 ) — (8 ) Jinmyung Plus Co.,Ltd. 696 649 177 (9 ) — (9 ) December 31, 2022 Assets Liabilities Operating Net (loss) Other Total JC Assurance No.2 Private Equity Fund 122,015 3 — (929 ) — (929 ) Dream Company Growth no.1 PEF 28,351 50 1,695 1,506 — 1,506 HMS-Oriens 1st Fund 58,095 6 3,829 3,279 — 3,279 Woori G Senior Loan Private Placement Investment Trust No.1 378,145 23 18,584 17,496 — 17,496 Genesis Eco No.1 Private Equity Fund 38,700 5 48 (593 ) — (593 ) Paratus Woori Material Component Equipment joint venture company 58,311 617 7 (812 ) — (812 ) Midas No. 8 Private Equity Joint Venture Company 65,936 242 1,928 977 — 977 Orchestra Private Equity Fund IV 34,427 — 1,580 878 — 878 Synaptic Green No.1 PEF 37,017 — 4 (983 ) — (983 ) IGEN2022No. 1 Private Equity Fund 32,362 122 3,166 2,616 — 2,616 PCC-Woori 33,591 168 6,127 1,152 — 1,152 Woori-Q 75,973 418 3,019 (4,696 ) — (4,696 ) Woori-Shinyoung Growth-Cap 123,824 312 41,780 40,544 — 40,544 (*1) It was dissoluted for the year ended December 31,2021 and will be liquidated. (*2) 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 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 December 31, 2022 Associate (*) Number of shares owned Ownership (%) CL Tech Co., Ltd. 10,191 28.6 (*) 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 (5) As of December 31, 2020, 2021 and 2022, the reconciliations from the net assets of the associates to the carrying amount of the shares of the investment in joint ventures and associates are as follows (Unit: Korean Won in millions except for ownership): 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 |
Investment Properties
Investment Properties | 12 Months Ended |
Dec. 31, 2022 | |
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 415,163 418,775 Accumulated depreciation (25,582 ) (30,982 ) Accumulated impairment losses (86 ) (86 ) Net carrying value 389,495 387,707 (2) Changes in investment properties are as follows (Unit: Korean Won in millions): For the years ended December 31 2020 2021 2022 Beginning balance 280,239 387,464 389,495 Acquisition 76,588 — — Disposal (353 ) — (1,206 ) Depreciation (2,689 ) (2,809 ) (3,925 ) Transfer 30,431 6,095 7,153 Foreign currencies translation adjustments 267 (1,255 ) (3,810 ) Business combination 10,557 — — Others (7,576 ) — — Ending balance 387,464 389,495 387,707 (3) Fair value of investment properties amounted to 665,710 million W W l evel 3 on the (4) Rental fee earned from investment properties is amounting to 15,056 million W W W W (5) The lease payments expected to be received in the future under lease contracts relating to investment properties as of December 31, 2021 and 2022 are as follows (Unit: Korean Won in millions): December 31, December 31, Lease payments: Within a year 13,769 12,368 More than 1 year and within 2 years 10,770 8,481 More than 2 years and within 3 years 7,743 5,320 More than 3 years and within 4 years 5,009 3,201 More than 4 years and within 5 years 2,953 2,634 More than 5 years 2,603 2,568 Total 42,847 34,572 |
Premises and Equipment
Premises and Equipment | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Property Plant And Equipment [Abstract] | |
Premises And Equipment | 15. PREMISES AND EQUIPMENT (1) Details of premises and equipment as of December 31, 2021 and 2022 are as follows (Unit: Korean Won in millions): 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 December 31, 2022 Land Building Equipment Leasehold Construction Structures Total Premises and equipment (owned) 1,695,357 730,676 261,278 58,352 32,184 — 2,777,847 Right-of-use — 349,494 15,589 — — — 365,083 Carrying value 1,695,357 1,080,170 276,867 58,352 32,184 — 3,142,930 (2) Details of premises and equipment (owned) as of December 31, 2021 and 2022 are as follows (Unit: Korean Won in millions): 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 December 31, 2022 Land Building Equipment Leasehold Construction Structures Total Acquisition cost 1,696,017 1,078,385 1,179,928 470,513 32,184 20 4,457,047 Accumulated depreciation — (347,709 ) (918,650 ) (412,161 ) — (20 ) (1,678,540 ) Accumulated impairment losses (660 ) — — — — — (660 ) Net carrying value 1,695,357 730,676 261,278 58,352 32,184 — 2,777,847 (3) Details of changes in premises and equipment (owned) are as follows (Unit: Korean Won in millions): 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 For the year ended December 31, 2022 Land Building Equipment Leasehold Construction Structures Total Beginning balance 1,719,325 756,964 258,361 51,354 3,171 1 2,789,176 Acquisitions 24 14,524 98,620 28,178 31,810 — 173,156 Disposals (20,024 ) (788 ) (1,003 ) (656 ) — — (22,471 ) Depreciation — (32,290 ) (97,600 ) (21,185 ) — (1 ) (151,076 ) Classification of assets held for sale (6,405 ) (6,704 ) — — — — (13,109 ) Transfer (3,040 ) (4,113 ) — — — — (7,153 ) Foreign currencies translation adjustments (855 ) (428 ) 392 549 225 — (117 ) Business combination 5,917 3,523 2,586 — — — 12,026 Others 415 (12 ) (78 ) 112 (3,022 ) — (2,585 ) Ending balance 1,695,357 730,676 261,278 58,352 32,184 — 2,777,847 (4) Details of right-of-use 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 December 31, 2022 Building Equipment Total Acquisition cost 643,484 32,700 676,184 Accumulated depreciation (293,990 ) (17,111 ) (311,101 ) Net carrying value 349,494 15,589 365,083 (5) Details of changes in right-of-use 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 For the year ended December 31, 2022 Building Equipment Total Beginning balance 367,480 18,064 385,544 New contracts 225,396 9,819 235,215 Changes in contract 3,514 (26 ) 3,488 Termination (43,597 ) (870 ) (44,467 ) Depreciation (211,175 ) (11,406 ) (222,581 ) Business combination 819 — 819 Others 7,057 8 7,065 Ending balance 349,494 15,589 365,083 |
Intangible Assets
Intangible Assets | 12 Months Ended |
Dec. 31, 2022 | |
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, 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 December 31, 2022 Goodwill Industrial Development Other Membership Construction Total Acquisition cost 397,527 2,219 754,031 1,244,516 46,231 3,027 2,447,551 Accumulated amortization — (1,576 ) (541,404 ) (1,018,591 ) — — (1,561,571 ) Accumulated impairment losses — — — (33,552 ) (3,314 ) — (36,866 ) Net carrying value 397,527 643 212,627 192,373 42,917 3,027 849,114 (2) Details of changes in intangible assets are as follows (Unit: Korean Won in millions): 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 W For the year ended December 31, 2022 Goodwill Industrial Development Other Membership Construction Total Beginning balance 345,449 723 207,708 193,182 37,607 717 785,386 Acquisitions — 162 91,992 62,073 6,571 2,421 163,219 Disposal — — — (2 ) (1,295 ) — (1,297 ) Amortization (*) — (242 ) (87,294 ) (75,299 ) — — (162,835 ) Impairment losses — — — — 88 — 88 Transfer — — 300 182 — (482 ) — Business combination 57,670 — — 7,795 — — 65,465 Foreign currencies translation adjustments (5,592 ) — (5 ) (865 ) (42 ) (53 ) (6,557 ) Others — — (74 ) 5,307 (12 ) 424 5,645 Ending balance 397,527 643 212,627 192,373 42,917 3,027 849,114 (*) Amortization of other intangible assets amounting to 14,664 million W (3) Goodwill 1) Details of allocated goodwill based on each cash-generating unit as of December 31, 2021 and 2022 are as follows (Unit: Korean W 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) 99,667 97,029 WOORI BANK (CAMBODIA) PLC (*3) 52,082 55,570 PT Woori Finance Indonesia Tbk. — 51,382 Others 6,854 6,700 Total 345,449 397,527 (*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 WB Discount rate (%) 14.55 13.36 13.47 15.98 16.88 Terminal growth rate (%) 1.00 1.00 1.00 0.00 0.00 Recoverable amount 431,777 162,772 42,083 784,787 544,693 Carrying amount 300,023 134,073 29,917 739,878 499,823 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 WB Finance Discount rate (%) Increase by 1.0% point (39,501 ) (8,680 ) (2,553 ) (61,030 ) (38,845 ) Decrease by 1.0% point 48,345 10,686 3,169 71,658 45,066 Terminal growth rate (%) Increase by 1.0% point 30,344 6,699 2,034 43,855 26,515 Decrease by 1.0% point (*) (25,010 ) (5,464 ) (1,650 ) — — (*) 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, 2022 | |
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 8,900 9,589 Investments of associates 11,472 — Others 5,955 4,183 Total 26,327 13,772 (*) The Group classifies assets as held for sale that are highly likely to be sold within one year from December 31, 202 1 2 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 year 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, 2022 | |
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 milli on December 31, 2021 Collateral given to Amount Reason for collateral Financial assets at FVTPL Korean treasury and government bonds, etc Nonghyup bank and others 248,009 Related to bonds sold under repurchase agreements (*) Korean treasury and government bonds, etc Korea Securities Depository 179,079 Securities borrowing collateral Korean treasury and government bonds, etc VI Investment, etc. 3,008 Future trading collateral Korean financial institutions’ debt securities, etc Korea Securities Depository 205,783 Securities borrowing collateral Korean financial institutions’ debt securities, etc KOREA SECURITIES FINANCE CORPORATION 54,419 Collateral for securities lending purposes Korean financial institutions’ debt securities, etc Shinhan Investment Corp. 5,352 Collateral for futures transaction Korean corporate bonds Korea Securities Depository 299,161 Securities borrowing collateral Korean capital contributions Korea Software Financial Cooperative 101 Bid guarantee, etc. Financial assets at FVTOCI Korean treasury and government bonds Korea Securities Depository 470 Related to bonds sold under repurchase agreements (*) Korean financial institutions’ debt securities, etc The BOK and others 3,666,849 Settlement risk and others Foreign financial institutions’ debt securities STANDARD BANK LONDON LTD 126,595 Related to bonds sold under repurchase agreements (*) Securities at amortized cost Korean treasury and government bonds The BOK and others 8,977,748 Settlement risk and others December 31, 2021 Collateral given to Amount Reason for collateral 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 Premises and equipment Land and building Credit Counselling & Recovery Service and others 1,910 Right to collateral and others Investment properties 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. December 31, 2022 Collateral given to Amount Reason for collateral Financial assets at FVTPL Korean treasury and government bonds, etc. KOREA SECURITIES FINANCE CORPORATION, etc. 198,377 Related to bonds sold under repurchase agreements (*1) Korean treasury and government bonds, etc. Korea Securities Depository 659,050 Securities borrowing collateral Korean treasury and government bonds, etc. SHINHAN SECURITIES CO, etc. 6,939 Future trading collateral Korean financial institutions’ debt securities, etc. SC FIRST BANK KOREA, SEOUL, etc. 245,876 Variable margin deposit for CSA, etc. Korean financial institutions’ debt securities, etc. SHINHAN ASSET MANAGEMENT, etc. 16,200 Related to bonds sold under repurchase agreements (*1) Korean capital contributions, etc. Korea Software Financial Cooperative 104 Bid guarantee, etc. December 31, 2022 Collateral given to Amount Reason for collateral Financial assets at FVTOCI Korean treasury and government bonds Korea Securities Depository 460 Related to bonds sold under repurchase agreements (*1) Korean financial institutions’ debt securities, etc. The BOK, etc. 6,394,890 Settlement risk, etc. Debt securities in foreign currencies BNP-PARIBAS, etc. 1,060,120 Variable margin deposit for CSA, etc. Debt securities in foreign currencies SC BANK, H.K, etc. 582,738 Related to bonds sold under repurchase agreements (*1) Securities at amortized cost Korean treasury and government bonds Korea Securities Depository 1,100,351 Related to bonds sold under repurchase agreements (*1) Korean treasury and government bonds The BOK, etc. 10,820,136 Settlement risk, etc. Debt securities in foreign currencies NATIXIS, etc. 70,949 Related to bonds sold under repurchase agreements (*1) Debt securities in foreign currencies FHLB ADVANCE, etc. 10,570 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 The Korea Exchange, etc. 133,539 Margin deposit for CCP Other due from banks in foreign currency Korea Investment & Securities, etc. 1,142,784 Overseas futures option deposit, etc. Mortgage loan Public offering 1,892,723 Related to covered bonds Premises and equipment Land and building Gakorea Co., Ltd , etc. 1,851 Right to collateral and others (*2) Investment properties Land and building Gakorea Co., Ltd., etc. 5,365 Right to collateral and others (*2) Total 24,344,522 (*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. (*2) The maximum pledge amount is 522 million Won. (2) As of December 31, 2021 and 2022 there is no asset acquired through foreclosures. December 31, December 31, Investment properties Land 2,185 6,404 Building 181 165 Sub-total 2,366 6,569 Other assets Land for non-business 21,156 21,302 Building for non-business (*1) 1,526 3,049 Movables for non-business (*2) 120 165 Real estate assessment provision for non-business (1,129 ) (1,176 ) Sub-total 21,673 23,340 Assets held for sale Land 2,980 2,351 Building 2,557 1,832 Others 418 — Sub-total 5,955 4,183 Total 29,994 34,092 (*1) The cumulative depreciation amount as of December 31, 2021 and 2022 is 716 million Won and 1,055 million Won, respectively. (*2) The cumulative depreciation amount as of December 31, 2021 and 2022 is 907 million Won and 882 million Won, respectively. (3) Securities loaned are as follows (Unit: Korean Won in millions): December 31, 2021 December 31, Loaned to Financial assets at FVTOCI Korean treasury and government bonds 98,535 98,027 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. As the Group does not derecognize these securities. (4) Collaterals held that can be disposed and re-subjected Fair values of collaterals held that can be disposed and re-subjected December 31, 2021 Fair values of collaterals Fair values of collaterals were disposed re-subjected Securities 10,785,412 — December 31, 2022 Fair values of collaterals Fair values of collaterals were disposed re-subjected Securities 7,109,933 — |
Other Assets
Other Assets | 12 Months Ended |
Dec. 31, 2022 | |
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 1,782,887 2,593,578 Prepaid expenses 189,808 287,323 Advance payments 61,042 99,772 Non-operational 16,248 23,340 Others 38,965 57,539 Total 2,088,950 3,061,552 |
Financial Liabilities at FVTPL
Financial Liabilities at FVTPL | 12 Months Ended |
Dec. 31, 2022 | |
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 4,873,458 8,952,399 Total 4,873,458 8,952,399 (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 65,016 35,161 Borrowings Securities sold 241,174 12,113 Derivative liabilities 4,567,268 8,905,125 Total 4,873,458 8,952,399 |
Deposits Due to Customers
Deposits Due to Customers | 12 Months Ended |
Dec. 31, 2022 | |
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 18,029,136 15,627,300 Deposits at termination 254,319,473 270,092,855 Mutual installment 24,620 22,995 Deposits on notes payables 2,954,066 3,675,596 Deposits on CMA 92,360 60,079 Certificate of deposits 3,586,423 5,255,889 Other deposits 1,286,719 1,196,486 Sub-total 280,292,797 295,931,200 Deposits in foreign currencies: Deposits in foreign currencies 37,643,900 46,263,943 Present value discount (36,826 ) (92,352 ) Sub-total 37,607,074 46,171,591 Customers’ deposits for beneficiary — 2,418 Total 317,899,871 342,105,209 |
Borrowings And Debentures
Borrowings And Debentures | 12 Months Ended |
Dec. 31, 2022 | |
Borrowings [abstract] | |
Borrowings And Debentures | 22. BORROWINGS AND DEBENTURES (1) Details of borrowings are as follows (Unit: Korean Won in millions): 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 (*) As of December 31, 2021, foreign currency borrowings subject to fair value hedges were included in the amount of 35,694 million Won. December 31, 2022 Lenders Interest rate Amount Borrowings in local currency: Borrowings from The BOK The BOK 0.3 ~ 1.8 3,040,877 Borrowings from government funds Small Enterprise and Market Service and others 0.0 ~ 3.5 2,021,049 Others The Korea Development Bank and others 0.0 ~ 6.7 9,562,082 Sub-total 14,624,008 Borrowings in foreign currencies: Borrowings in foreign currencies The Export-Import Bank of Korea and others (0.1) ~ 10.6 11,161,294 Bills sold Others 0.0 ~ 2.4 7,308 Call money Bank and others 1.6 ~ 5.5 400,071 Bonds sold under repurchase agreements Other financial institutions 0.2 ~ 6.4 2,313,044 Present value discount (76,122 ) Total 28,429,603 (2) Details of debentures are as follows (Unit: Korean Won in millions): December 31, 2021 December 31, 2022 Interest rate Amount Interest rate Amount Face value of bond (*) Ordinary bonds 0.7 ~ 3.6 37,004,942 0.8 ~ 7.5 37,132,334 Subordinated bonds 1.9 ~ 5.1 6,767,442 1.9 ~ 5.1 5,835,325 Other bonds 0.8 ~ 17.0 911,190 0.8 ~ 17.0 1,271,364 Sub-total 44,683,574 44,239,023 Discounts on bonds (29,710 ) (40,537 ) Total 44,653,864 44,198,486 (*) Included debentures under fair value hedge amounting to and 2,366,724 million W W W W |
Provisions
Provisions | 12 Months Ended |
Dec. 31, 2022 | |
Provisions [abstract] | |
Provisions | 23. PROVISIONS (1) Details of provisions are as follows (Unit: Korean Won in millions): December 31, December 31, Asset retirement obligation 80,777 82,717 Provisions for guarantees (*1) 74,866 76,508 Provisions for unused loan commitments 112,296 106,033 Other provisions (*2) 308,195 280,607 Total 576,134 545,865 (*1) Provisions for guarantees includes provision for financial guarantee of 53,321 million W W (*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, 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 ) Changes due to business combinations 14,501 — — 14,501 Others (*) 953 — — 953 Ending balance 64,804 16,745 8,043 89,592 (*) Recognized as a result of new financial guarantee contract valued at initial fair value. 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 (*) Recognized as a result of new financial guarantee contract valued at initial fair value. For the year ended December 31, 2022 Stage1 Stage2 Stage3 Total Beginning balance 52,830 15,269 6,767 74,866 Transfer to 12-month 1,206 (1,206 ) — — Transfer to expected credit loss for the entire period (119 ) 119 — — Transfer to credit-impaired financial assets (3 ) (338 ) 341 — Provisions used — — — — Net provision (reversal) of unused amount (3,449 ) 10,483 577 7,611 Others (*) (5,969 ) — — (5,969 ) Ending balance 44,496 24,327 7,685 76,508 (*) Recognized as a result of new financial guarantee contract valued at initial fair value. 2) Provisions for unused loan commitment 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 Changes due to business combinations 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 For the year ended December 31, 2022 Stage1 Stage2 Stage3 Total Beginning balance 67,440 44,536 320 112,296 Transfer to 12-month 14,349 (14,217 ) (132 ) — Transfer to expected credit loss for the entire period (2,619 ) 2,648 (29 ) — Transfer to credit-impaired financial assets (197 ) (306 ) 503 — Net provision (reversal) of unused amount (11,402 ) 5,527 (457 ) (6,332 ) Others 69 — — 69 Ending balance 67,640 38,188 205 106,033 (3) Changes in asset retirement obligation for the years ended December 31, 2020, 2021 and 2022 are as follows (Unit: Korean Won in millions): For the years ended 2020 2021 2022 Beginning balance 66,485 68,402 80,777 Provisions provided 806 3,235 4,082 Provisions used (2,958 ) (5,066 ) (7,400 ) Reversal of provisions unused (106 ) (947 ) (21 ) Unwinding of discount 459 495 909 Business combination 219 — — Increase (decrease) of restoration expense, etc. 3,497 14,658 4,370 Ending balance 68,402 80,777 82,717 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, 2022, 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, 2020, 2021 and 2022 are as follows (Unit: Korean Won in millions): For the years ended December 31 2020 2021 2022 Beginning balance 172,455 221,494 308,195 Provisions provided 232,629 85,706 36,284 Provisions used (181,433 ) (10,375 ) (8,540 ) Reversal of provisions unused (*) (2,345 ) (718 ) (54,893 ) Foreign currencies translation adjustments 606 11,957 (621 ) Transfer (344 ) — — Others (74 ) 131 182 Ending balance 221,494 308,195 280,607 (*) The Group provided Korean Won settlement services for trading transaction settlement between Korea and Iran, investigated by U.S. prosecutors (federal prosecutors, New York state prosecutors) and New York State Department of Financial Services for violations of U.S. sanctions against Iran, Sudan, Syria and Cuba. In this regard, the Office of Foreign Assets Control concluded its investigation in December 2020 urging the bank’s attention without taking any additional sanctions, and New York State Department of Financial Services concluded its investigation in February 2022 without taking any additional sanctions. Meanwhile, in June 2022, the Group reversed the provision related to the investigation of the U.S. Prosecutors, which have not been completed yet, in consideration of the opinion of an independent legal expert that the probability of sanctions by the U.S. Prosecutors in this case is low. (5) Others 1) The Group recognized the provision of 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. 2) For the year ended December 31, 2020, the Group recognized the provisions as the best estimate 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, 2022, the provision for this case is 122.1 billion W 3) 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, 2022, the sales revenue for Platform Asia, Heritage DLS, and Gen2 DLS sold 85 billion W W W W W W |
Net Defined Benefit Liability (
Net Defined Benefit Liability (Asset) | 12 Months Ended |
Dec. 31, 2022 | |
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 1,618,098 1,377,545 Fair value of plan assets (1,591,458 ) (1,661,623 ) Net defined benefit liabilities (*) 26,640 (284,078 ) (*) Net defined benefit liability of 26,640 million W W W W (2) Changes in the carrying value of defined benefit obligation are as follows (Unit: Korean Won in millions): For the years ended December 31 2020 2021 2022 Beginning balance 1,442,859 1,610,680 1,618,098 Current service cost 174,509 178,416 166,741 Interest cost 34,653 39,814 48,238 Remeasurements Financial assumption (20,838 ) (92,367 ) (356,344 ) Demographic assumptions 4,161 (251 ) (9 ) Experience adjustments (4,481 ) (12,155 ) (3,838 ) Retirement benefit paid (55,864 ) (106,050 ) (92,914 ) Foreign currencies translation adjustments (119 ) 165 (69 ) Changes due to business combinations 34,001 — — Others 1,799 (154 ) (2,358 ) Ending balance 1,610,680 1,618,098 1,377,545 (3) Changes in the plan assets are as follows (Unit: Korean Won in millions): For the years ended December 31 2020 2021 2022 Beginning balance 1,352,971 1,564,101 1,591,458 Interest income 34,534 40,927 49,916 Remeasurements (7,666 ) (15,022 ) (18,095 ) Employer’s contributions 211,505 103,251 127,979 Retirement benefit paid (52,627 ) (99,523 ) (87,472 ) Changes due to business combination 27,599 — — Others (2,215 ) (2,276 ) (2,163 ) Ending balance 1,564,101 1,591,458 1,661,623 (4) The fair value of the plan assets by composition as of December 31, 2021 and 2022 are as follows (Unit: Korean Won in millions): December 31, December 31, Cash and due from banks 1,591,458 1,661,623 Meanwhile, among plan assets, realized returns on plan assets amount to 25,905 million W W W (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 2020 2021 2022 Current service cost 174,509 178,416 166,741 Net interest income (expense) 119 (1,113 ) (1,678 ) Cost recognized in net income 174,628 177,303 165,063 Remeasurements (*) (13,492 ) (89,751 ) (342,096 ) Cost recognized in total comprehensive income 161,136 87,552 (177,033 ) (*) Amount before tax Retirement benefits related to defined contribution plans recognized as expenses are 3,827 million Won, 4,494 million Won and 4,240 million Won for the years ended December 31, 2020, 2021 and 2022, respectively. ( 6 Key actuarial assumptions used in net defined benefit liability measurement are as follows: December 31, 2020 December 31, 2021 December 31, 2022 Discount rate 2.13% ~ 2.97% 2.40% ~ 3.49% 5.25% ~ 5.99% Future wage growth rate 2.05% ~ 7.00% 2.03% ~ 5.56% 2.1% ~ 5.84% 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 5.38 to a maximum 10.71 years. ( 7 The sensitivity to actuarial assumptions used in the assessment of defined benefit obligation is as follows December 31, 2021 December 31, 2022 Discount rate Increase by 1% point (161,428 ) (146,319 ) Decrease by 1% point 189,630 170,529 Future wage growth rate Increase by 1% point 188,392 174,546 Decrease by 1% point (163,431 ) (153,712 ) |
Other Financial Liabilities and
Other Financial Liabilities and Other Liabilities | 12 Months Ended |
Dec. 31, 2022 | |
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, 2021 December 31, 2022 Other financial liabilities: Accounts payable 7,031,366 6,001,858 Accrued expenses 2,070,639 3,219,349 Borrowings from trust accounts 3,107,456 3,475,118 Agency business revenue 433,041 213,845 Foreign exchange payables 782,176 822,446 Domestic exchange settlement credits 6,708,220 4,631,921 Lease liabilities 343,213 319,161 Other miscellaneous financial liabilities 3,772,437 4,148,621 Present value discount (15,322 ) (20,451 ) Sub-total 24,233,226 22,811,868 Other liabilities: Unearned income 291,147 351,633 Other miscellaneous liabilities 265,706 338,524 Sub-total 556,853 690,157 Total 24,790,079 23,502,025 |
Derivatives
Derivatives | 12 Months Ended |
Dec. 31, 2022 | |
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, 2021 Assets Liabilities Nominal amount For cash flow hedge 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 December 31, 2022 Assets Liabilities Nominal amount For cash For fair hedge For trading For cash For fair hedge For trading Interest rate: Futures 42,545 — — — — — — Forwards 2,620,000 — — 249,356 — — — Swaps 136,550,518 2,041 — 440,540 — 193,831 474,158 Purchase options 170,000 — — 9,308 — — — Written options 310,000 — — — — — 16,752 Currency: Futures 51,136 — — — — — — Forwards 90,134,257 — — 3,083,082 — — 1,360,535 Swaps 97,197,309 35,745 — 3,105,901 9,080 — 5,500,970 Purchase options 487,852 — — 23,182 — — — Written options 570,982 — — — — — 7,929 — Equity: Futures 958,589 — — — — — — Forwards 183 — — 100 — — — Swaps 568,835 — — 90,237 — — 673 Purchase options 29,801,478 — — 1,204,475 — — — Written options 29,874,836 — — — — — 1,544,108 Total 389,338,520 37,786 — 8,206,181 9,080 193,831 8,905,125 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 T he 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 3M LIBOR, Compounding SOFR, AUD 3M BBSW, and CD 3M. 1) Fair value hedge As of December 31, 2022, the Group has applied fair value hedge on fixed interest rate foreign currency denominated debentures amounting to 2,928,127 million Won, and foreign currency loans amounting to 148,856 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, 2022, the Group has applied cash flow hedge on local currency denominated debentures amounting to 229,892 million Won and debentures on foreign currency amounting to 1,094,920 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. 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) Hedges of Net Investment in Foreign Operations Foreign currency exposure arises from the Group’s net investments in Woori America Bank, Woori Cambodia Bank and Hong Kong Woori Investment Bank, and overseas branches, which use USD as their functional currency. The risk arises from fluctuations in the spot exchange rate between USD and KRW. This may result in different net investment amounts. The risk hedged in the net investment hedging is the weakness of KRW against USD, which may reduce the carrying amount of the Group’s net investments in Woori America Bank, Woori Cambodia Bank and Hong Kong Woori Investment Bank. A portion of the Group’s net investments in Woori America Bank, Woori Cambodia Bank and Hong Kong Woori Investment Bank are hedged in USD denominated foreign currency bonds(Carrying amount as of December 31, 2022: USD 864,390,437) and mitigate foreign exchange risk arising from the net assets of subsidiaries. The bonds was designated as a hedging instrument for changes in the value of net investment resulting from fluctuations in the USD/KRW spot exchange rate. To assess the effectiveness of the hedging instrument, the Group determines the economic relationship between the hedging instrument and the hedged item by comparing (offsetting) changes in the carrying amount of the liability due to changes in the spot exchange rate with changes. The Group’s policy is to hedge the net investment only within the principal range of the liability. (3) The nominal amounts of the hedging instrument are as follows (Unit: USD, AUD, EUR, and Korean Won in millions): 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 December 31, 2022 1 year or less 1 year to 5 More than 5 Total Fair value hedge Interest rate risk Interest rate swap (USD) — 2,075,000,000 300,000,000 2,375,000,000 Interest rate swap (AUD) 150,000,000 — — 150,000,000 Interest rate swap (KRW) 150,000 — — 150,000 Cash flow hedge Interest rate risk Interest rate swap (KRW) 50,000 140,000 — 190,000 Foreign currencies translation risk and interest rate risk Currency swap (USD) — 270,000,000 — 270,000,000 Foreign currencies translation risk Currency swap (USD) 80,000,000 100,000,000 — 180,000,000 Currency swap (EUR) — 194,780,000 — 194,780,000 Hedges of net investment in foreign operations Exchange risk Foreign currency bond (USD) 272,390,437 592,000,000 — 864,390,437 (4) The average interest rate and average currency rate of the hedging instrument as of December 31, 2021 and 2022 are as follows: 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, KRW/USD = 1,206.60 Foreign currencies translation risk Currency swap (USD) USD 1.50% receipt, KRW 1.57% paid, KRW/USD = 1,140.50 December 31, 2022 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 (USD) Fixed 2.05% receipt and (C.SOFR)+0.65% paid Interest rate swap (AUD) Fixed 0.84% receipt and BBSW 3M+0.72% paid Interest rate swap (KRW) Fixed 3.13% receipt and CD 3M paid Cash flow hedge Interest rate risk Interest rate swap (KRW) KRW CMS 5Y+0.46% receipt, 3.65% paid 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+0.79% receipt, KRW 0.80% paid, KRW/USD = 1,226.29 Foreign currencies translation risk Currency swap (USD) USD 1.50% receipt, KRW 1.57% paid, KRW/USD = 1,140.50 Currency swap (EUR) EUR 1.98% receipt, KRW 3.68% paid, KRW/EUR = 1,344.08 Hedges of net investment Exchanging rate risk Foreign currency denominated debentures (KRW/USD) 1,344.37 (5) The amounts related to items designated as hedging instruments are as follows (Unit: USD, AUD, EUR, and Korean Won in millions): December 31, 2021 Nominal amounts of Carrying amount of the hedging instrument 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) (83,821 ) Interest rate swap (AUD) 150,000,000 Derivative liabilities (designated for hedging) 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 December 31, 2022 Nominal amounts of Carrying amount of Line item in the statement Changing in fair Assets Liabilities Fair value hedge Interest rate risk Interest rate Swap (USD) 2,375,000,000 — 193,831 Derivative assets (designated for hedging) Derivative liabilities (designated for hedging) (247,765 ) Interest rate Swap (AUD) 150,000,000 Interest rate Swap (KRW) 150,000 Cash flow hedge Interest rate risk Interest rate swap (KRW) 190,000 2,041 — Derivative liabilities (designated for hedging) 1,690 Foreign currency translation risk and interest rate risk Currency swap (USD) 270,000,000 17,909 — Derivative liabilities (designated for hedging) 58,253 Foreign currency translation risk Currency swap (USD) 180,000,000 17,836 — Derivative liabilities (designated for hedging) 9,317 Currency swap (EUR) 194,780,000 — 9,080 Derivative liabilities (designated for hedging) (10,286 ) Hedges of net investment in foreign operations Exchange rate risk Foreign currency bond (USD) 864,390,437 — 1,095,442 Foreign currency bond (28,553 ) (6) Details of carrying amount to hedge and amount due to hedge accounting are as follows (Unit: Korean Won in millions): December 31, 2021 Carrying amount 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 December 31, 2022 Carrying amount 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 — 3,076,983 — (199,804 ) Debentures 257,911 — Cash flow hedge Interest rate risk Debentures — 229,892 — — Debentures (3,742 ) 2,531 Foreign currencies translation risk and interest rate risk Debentures — 342,019 — — Debentures (23,296 ) 8,648 Foreign currencies translation risk Debentures — 752,901 — — Debentures 11,256 (24,600 ) Hedges of net investment in foreign operations Exchange rate risk Foreign operations net asset — 1,095,442 — — Foreign 28,553 (38,797 ) (*) 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, 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) For the year ended December 31, 2022 Hedge ineffectiveness Line item in the profit or loss that Fair value hedge Interest rate risk 10,146 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, 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 operating income (expense) — Other net operating income (expense) Foreign currencies translation risk and interest rate risk 60,394 169 (2,300 ) Other net operating income (expense) (52,126 ) Other net operating income (expense) Foreign currencies translation risk 8,476 (258 ) 416 Other net operating income (expense) (9,045 ) Other net operating income (expense) For the year ended December 31, 2022 Changes in Hedge Changes Line item Amounts Line item Cash flow hedge Interest rate risk 1,653 37 — Other net operating income (expense) 220 Other net operating income (expense) Foreign currencies translation risk and interest rate risk 58,253 — (1,721 ) Other net operating income (expense) (53,743 ) Other net operating income (expense) Foreign currencies translation risk (969 ) — 2,046 Other net operating income (expense) (16,111 ) Other net operating income (expense) (9) The amounts recognized in profit or loss and other comprehensive income related to the hedging of net investments in foreign operations are as follows (Unit: Korean Won in millions): For the year ended December 31, 2022 Profit or loss Hedge ineffectiveness Line item which Hedges of net investment in foreign operation Exchange (38,797 ) — — |
Deferred Day 1 Profits Or Losse
Deferred Day 1 Profits Or Losses | 12 Months Ended |
Dec. 31, 2022 | |
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 2020 2021 2022 Beginning balance 52,259 6,939 29,111 New transactions 22,901 49,523 21,656 Amounts recognized in losses (68,221 ) (27,351 ) (32,803 ) Ending balance 6,939 29,111 17,964 |
Equity
Equity | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Equity [Abstract] | |
Equity | 28. EQUITY (1) Details of equity as of December 31, 2021 and 2022 are as follows (Unit: Korean Won in millions): December 31, 2021 December 31, 2022 Capital Common stock capital 3,640,303 3,640,303 Hybrid securities 2,294,381 3,112,449 Capital surplus Paid in capital in excess of par 643,544 643,544 Others 38,841 38,841 Sub-total 682,385 682,385 Capital adjustments Treasury stocks (3,819 ) (3,819 ) Other adjustments (*1) (1,747,242 ) (1,780,367 ) Sub-total (1,751,061 ) (1,784,186 ) Accumulated other comprehensive income Financial assets at FVTOCI (162,522 ) (645,731 ) Changes in capital due to equity method (138 ) 475 Gain (loss) on foreign currency translation of foreign operations (63,781 ) (24,202 ) Gain (loss) on hedges of net investment in foreign operations — (20,701 ) Remeasurements of defined benefit plan (195,944 ) 55,235 Gain (loss) on valuation of cash flow hedge 5,553 (4,282 ) Capital related to non-current 279 — Sub-total (416,553 ) (639,206 ) Retained earnings (*2) (*3) 21,347,472 23,750,152 Non-controlling (*4) 3,008,176 2,865,445 Total 28,805,103 31,627,342 (*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 regulatory reserve for credit losses in retained earnings amounted to 2,568,367 million Won and 2,996,960 million Won and as of December 31, 2021 and 2022, respectively in accordance with the relevant article. (*3) The earned surplus reserve in retained earnings amounted to 122,370 million W W (*4) The hybrid securities issued by Woori Bank amounting to 2,555,166 million Won and 2,344,816 million Won as of December 31, 2021 and 2022, respectively, are recognized as non-controlling interests. 144,923 million Won and 113,995 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, 2021 and 2022, respectively. (2) The number of authorized shares and others of the Group are as follows: December 31, 2021 December 31, 2022 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 728,060,549 Shares 728,060,549 Shares Capital stock 3,640,303 million Won 3,640,303 million Won (3) 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, 2021 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 — 3.15 200,000 200,000 Securities in local currency 2021-10-14 — 3.60 200,000 200,000 Securities in local currency 2022-02-17 — 4.10 — 300,000 Securities in local currency 2022-07-28 — 4.99 — 300,000 Securities in local currency 2022-10-25 — 5.97 — 220,000 Issuance cost (5,619 ) (7,551 ) Total 2,294,381 3,112,449 The hybrid securities mentioned above do not have maturity date but are redeemable after 5 years from date of issuance. (4) 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, 2020 Beginning Increase (*) Reclassification Classified as 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 non-current For the year ended December 31, 2022 Beginning Increase (*) Reclassification Income Ending balance Net gain (loss) on valuation of financial assets at FVTOCI (162,522 ) (659,906 ) 21,498 155,199 (645,731 ) Changes in capital due to equity method (138 ) 6,563 — (5,950 ) 475 Gain (loss) on foreign currency translation of foreign operations (63,781 ) 33,368 — 6,211 (24,202 ) Gain (loss) on hedges of net investment in foreign operations — (28,553 ) — 7,852 (20,701 ) Remeasurement gain (loss) related to defined benefit plan (195,944 ) 346,553 — (95,374 ) 55,235 Gain (loss) on valuation of cash flow hedge 5,553 (10,373 ) (220 ) 758 (4,282 ) Capital related to non-current 279 (385 ) — 106 — Total (416,553 ) (312,733 ) 21,278 68,802 (639,206 ) (*) The increase(decrease) of financial asset valuation profit or loss at fair value through other comprehensive income and non-current non-current (5) Treasury stock Details of treasury stocks are as follows (Unit: Shares, Korean Won in millions): December 31, 2021 December 31, 2022 Number of Carrying Number of Carrying Beginning balance 2 — 343,991 3,819 Acquisition 343,989 3,819 — — Ending balance 343,991 3,819 343,991 3,819 |
Dividends
Dividends | 12 Months Ended |
Dec. 31, 2022 | |
Dividends [Abstract] | |
Dividends | 29. DIVIDENDS (1) Dividends per share and the total dividends for the fiscal year ending December 31, 2021 were 750 Won and 546,044 million Won, respectively, and the dividends were approved at the regular general shareholders’ meeting held on March 25, 2022 and were paid in April 2022. ( 2 On July 22, 2022, in accordance with a resolution of the Board of Directors, the Group declared the interim dividend of 150 Won per share (total dividend of 109,209 million Won) with June 30, 2022 as base date, and the dividends were paid in August 2022. ( 3 A dividend in respect of the year ended December 31, 2022, of 980 Won W was approved by |
Net Interest Income
Net Interest Income | 12 Months Ended |
Dec. 31, 2022 | |
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 2020 2021 2022 Financial assets at FVTPL 48,612 45,803 106,698 Financial assets at FVTOCI 437,527 381,814 632,615 Financial assets at amortized cost Loans and other financial assets at amortized cost Interest on due from banks 53,586 46,600 244,331 Interest on loans 8,570,173 9,065,074 13,109,022 Interest of other receivables 30,967 30,538 46,637 Sub-total 8,654,726 9,142,212 13,399,990 Securities at amortized cost 382,988 324,920 515,246 Sub-total 9,037,714 9,467,132 13,915,236 Total 9,523,853 9,894,749 14,654,549 (2) Details of interest expense recognized are as follows (Unit: Korean Won in millions): For the years ended December 31 2020 2021 2022 Interest on deposits due to customers 2,486,523 1,906,858 4,120,811 Interest on borrowings 269,985 219,994 598,185 Interest on debentures 722,551 727,093 1,036,191 Other interest expense 36,964 47,647 195,090 Interest on lease liabilities 9,318 7,436 7,693 Total 3,525,341 2,909,028 5,957,970 |
Net Fees and Commissions Income
Net Fees and Commissions Income | 12 Months Ended |
Dec. 31, 2022 | |
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 2020 2021 2022 Fees and commission received for brokerage 162,653 182,794 185,545 Fees and commission received related to credit 195,391 197,125 189,856 Fees and commission received for electronic finance 125,107 131,941 130,712 Fees and commission received on foreign exchange handling 55,984 56,210 56,812 Fees and commission received on foreign exchange 69,017 73,894 96,713 Fees and commission received for guarantee 74,647 76,428 85,340 Fees and commission received on credit card 507,852 573,048 594,897 Fees and commission received on securities business 79,606 100,991 111,211 Fees and commission from trust management 160,564 216,203 266,447 Fees and commission received on credit information 13,254 10,220 10,190 Fees and commission received related to lease 84,164 374,900 572,563 Other fees 165,777 177,951 199,414 Total 1,694,016 2,171,705 2,499,700 (2) Details of fees and commissions expense incurred are as follows (Unit: Korean Won in millions): For the years ended December 31 2020 2021 2022 Fees and commissions paid 246,824 261,734 325,536 Credit card commission 424,316 425,796 446,885 Securities business commission 551 1,605 1,414 Others 8,286 11,795 15,695 Total 679,977 700,930 789,530 |
Dividend Income
Dividend Income | 12 Months Ended |
Dec. 31, 2022 | |
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 2020 2021 2022 Dividend income related to financial assets at FVTPL 120,158 284,683 136,136 Dividend income related to financial assets at FVTOCI 18,385 24,528 23,846 Total 138,543 309,211 159,982 (2) Details of dividends related to financial assets at FVTOCI are as follows (Unit: Korean Won in millions): For the years ended December 31 2020 2021 2022 Dividend income recognized from assets held: Equity securities 18,385 24,528 23,846 |
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, 2022 | |
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 2020 2021 2022 Gain on financial instruments at fair value through profit or loss measured at fair value 422,374 325,649 238,502 Gain (loss) on financial instruments at fair value through profit or loss designated as upon initial recognition (665 ) 102 — Total 421,709 325,751 238,502 (2) Details of net gain or loss on financial instruments at fair value through profit or loss measured at fair value and financial instruments held for trading are as follows (Unit: Korean Won in millions): For the years ended December 31 2020 2021 2022 Financial assets at FVTPL Securities Gain on transactions and valuation 142,551 249,803 294,667 Loss on transactions and valuation (122,506 ) (197,172 ) (553,093 ) Sub-total 20,045 52,631 (258,426 ) Loans Gain on transactions and valuation 15,299 24,674 24,005 Loss on transactions and valuation (8,087 ) (6,770 ) (2,219 ) Sub-total 7,212 17,904 21,786 Other financial assets Gain on transactions and valuation 10,902 17,034 21,602 Loss on transactions and valuation (10,257 ) (12,370 ) (12,314 ) Sub-total 645 4,664 9,288 Sub-total 27,902 75,199 (227,352 ) Derivatives (Held for trading) Interest rates derivatives Gain on transactions and valuation 1,727,585 2,020,004 5,216,543 Loss on transactions and valuation (1,998,824 ) (1,746,752 ) (3,625,834 ) Sub-total (271,239 ) 273,252 1,590,709 Currency derivatives Gain on transactions and valuation 12,562,354 9,685,798 14,601,674 Loss on transactions and valuation (11,906,353 ) (9,715,260 ) (15,713,074 ) Sub-total 656,001 (29,462 ) (1,111,400 ) Equity derivatives Gain on transactions and valuation 1,835,497 1,754,671 2,836,843 Loss on transactions and valuation (1,825,372 ) (1,744,294 ) (2,850,334 ) Sub-total 10,125 10,377 (13,491 ) Other derivatives Gain on transactions and valuation — 64 49 Loss on transactions and valuation (415 ) (3,781 ) (13 ) Sub-total (415 ) (3,717 ) 36 Sub-total 394,472 250,450 465,854 Net, Total 422,374 325,649 238,502 (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 2020 2021 2022 Gain (loss) on equity-linked securities (665 ) 102 — |
Net gain or loss on financial a
Net gain or loss on financial assets at FVTOCI | 12 Months Ended |
Dec. 31, 2022 | |
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 2020 2021 2022 Loss on redemption of securities (57 ) (23 ) (7 ) Gain (Loss) on transaction of securities 24,195 32,647 (21,491 ) Total 24,138 32,624 (21,498 ) |
Reversal of (provision for) Imp
Reversal of (provision for) Impairment Losses due to Credit Loss | 12 Months Ended |
Dec. 31, 2022 | |
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 2020 2021 2022 Reversal(provision) due to credit loss on financial assets measured at FVTOCI (1,529 ) (4,909 ) 827 Provision for impairment loss due to credit loss on securities at amortized cost 934 (664 ) (3,151 ) Provision for impairment loss due to credit loss on loan and other financial assets at amortized cost (792,250 ) (551,957 ) (881,668 ) Provision for(reversal of) provision on guarantee 18,348 10,701 (7,611 ) Reversal of(provision for) unused loan commitment (9,874 ) 9,991 6,332 Total (784,371 ) (536,838 ) (885,271 ) |
General administrative expenses
General administrative expenses and other operating income (expenses) | 12 Months Ended |
Dec. 31, 2022 | |
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 2020 2021 2022 Employee benefits Short-term employee benefits Salaries 1,638,341 1,775,018 1,980,363 Employee fringe benefits 506,048 545,534 590,255 Share based payment 7,495 17,774 9,632 Retirement benefit service costs 178,455 181,797 169,303 Termination 202,259 180,872 162,019 Sub-total 2,532,598 2,700,995 2,911,572 Depreciation and amortization 520,969 524,154 521,827 Other general and administrative expenses Rent 78,707 83,879 80,130 Taxes and public dues 129,904 135,015 157,905 Service charges 244,825 231,852 233,495 Computer and IT related 108,810 117,875 127,186 Telephone and communication 72,711 79,145 84,204 Operating promotion 45,891 44,248 53,733 Advertising 94,880 101,384 160,464 Printing 6,954 6,449 6,799 Traveling 7,263 7,449 10,716 Supplies 12,127 7,642 8,309 Insurance premium 10,805 10,692 20,670 Maintenance 18,367 20,808 23,266 Water, light, and heating 14,993 14,520 16,165 Vehicle maintenance 10,225 11,590 14,831 Others 46,152 49,714 98,618 Sub-total 902,614 922,262 1,096,491 Total 3,956,181 4,147,411 4,529,890 (2) Details of other operating income recognized are as follows (Unit: Korean Won in millions): For the years ended December 31 2020 2021 2022 Gain on transactions of foreign exchange 758,347 562,935 1,403,083 Gain related to derivatives (Designated for hedging) 67,395 61,271 71,179 Gain on fair value hedged items 9,646 106,253 257,910 Others 63,702 172,044 249,509 Total 899,090 902,503 1,981,681 (3) Details of other operating expenses recognized are as follows (Unit: Korean Won in millions): For the years ended December 31 2020 2021 2022 Losses on transactions of foreign exchange 679,350 450,698 1,181,663 KDIC deposit insurance premium 371,054 406,276 423,834 Contribution to miscellaneous funds 327,911 367,961 402,057 Losses related to derivatives (Designated for hedging) 82,746 93,084 250,268 Losses on fair value hedged items 68,508 1,947 — Others (*) 189,959 469,938 736,112 Total 1,719,528 1,789,904 2,993,934 (*) Other expense includes 11,890 million Won, 13,963 million Won and 14,664 million Won for intangible asset amortization cost for the years ended December 31, 2020, 2021 and 2022 respectively. In addition, it includes 52,504 million Won, 250,971 million Won and 388,895 million Won for lease depreciation cost for the years ended December 31, 2020, 2021 and 2022, respectively. (4) Share-based payment Details of performance condition share-based payment granted to executives as of December 31, 2021 and 2022 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) 12,406 Won Valuation method Black-Scholes Model Expected dividend rate 5.05% Expected maturity date — Number of shares remaining As of December 31, 2021 602,474 shares As of December 31, 2022 602,474 shares Number of shares granted (*2) As of December 31, 2021 602,474 shares As of December 31, 2022 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) 11,796 Won Valuation method Black-Scholes Model Expected dividend rate 5.05% Expected maturity date 1 year Number of shares remaining As of December 31, 2021 944,343 shares As of December 31, 2022 944,343 shares Number of shares granted (*2) As of December 31, 2021 944,343 shares As of December 31, 2022 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) 11,215 Won Valuation method Black-Scholes Model Expected dividend rate 5.05% Expected maturity date 2 years Number of shares remaining As of December 31, 2021 1,105,515 shares As of December 31, 2022 1,105,515 shares Number of shares granted (*2) As of December 31, 2021 1,105,515 shares As of December 31, 2022 1,105,515 shares Subject to Shares granted for the year 2022 Type of payment Cash-settled Vesting period January 1, 2022 ~ December 31, 2025 Date of payment 2026-01-01 Fair value (*1) 10,662 Won Valuation method Black-Scholes Model Expected dividend rate 5.05% Expected maturity date 3 years Number of shares remaining As of December 31, 2021 — As of December 31, 2022 968,119 shares Number of shares granted (*2) As of December 31, 2021 — As of December 31, 2022 968,119 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 W W W W |
Non-operating income (expenses)
Non-operating income (expenses) | 12 Months Ended |
Dec. 31, 2022 | |
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 2020 2021 2022 Gains on valuation of investments in joint ventures and associates 125,602 80,268 98,858 Reversal of impairment losses of investments in joint ventures and associates — 1,744 — Losses on valuation of investments in joint ventures and associates (23,283 ) (7,405 ) (11,134 ) Impairment losses of investments in joint ventures and associates (1,242 ) (12,411 ) (17,728 ) Total 101,077 62,196 69,996 (2) Details of other non-operating For the years ended December 31 2020 2021 2022 Other non-operating 133,195 188,129 158,778 Other non-operating (313,415 ) (223,029 ) (111,728 ) Total (180,220 ) (34,900 ) 47,050 (3) Details of other non-operating For the years ended December 31 2020 2021 2022 Rental fee income 15,190 15,056 22,798 Gains on disposal of investments in joint ventures and associates 3,470 70,834 599 Gains on disposal of premises and equipment, intangible assets and other assets 9,715 51,083 55,852 Reversal of impairment loss of premises and equipment, intangible assets and other assets 172 166 310 Others (*) 104,648 50,990 79,219 Total 133,195 188,129 158,778 (*) Others include 67,427 million Won (4) Details of other non-operating For the years ended December 31 2020 2021 2022 Depreciation on investment properties 2,689 2,809 3,925 Operating expenses on investment properties 762 1,174 1,448 Losses on disposal of investment in joint ventures and associates — 174 3,690 Losses on disposal of premises and equipment, intangible assets and other assets 2,717 3,354 3,177 Impairment losses of premises and equipment, intangible assets and other assets 8,763 656 260 Donation 44,504 39,335 50,547 Others (*) 253,980 175,527 48,681 Total 313,415 223,029 111,728 (*) Others include 224,427 million W million Won of other extraordinary losses related to other provisions for the years ended December 31, 2020 and 2021, respectively. And they include million Won of other extraordinary loss related to embezzlement accidents for the years ended December 31, 2021. Also, they include million Won of other extraordinary loss related to other provisions for the year ended December 31, 2022. |
Income Tax Expense
Income Tax Expense | 12 Months Ended |
Dec. 31, 2022 | |
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 2020 2021 2022 Current tax expense Current tax expense with respect to the current period 501,223 884,843 1,332,636 Adjustments recognized in the current period in relation to the tax expense of prior periods 4,914 2,074 (13,982 ) Income tax expense directly attributable to other equity — — 7,852 Sub-total 506,137 886,917 1,326,506 Deferred tax expense Change in deferred tax assets (liabilities) due to temporary differences (1,702 ) 15,672 (217,805 ) Income tax expense (income) directly attributable to equity (18,433 ) 22,177 68,802 Others — — 993 Sub-total (20,135 ) 37,849 (148,010 ) Income tax expense 486,002 924,766 1,178,496 (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 2020 2021 2022 Net income before income tax expense 2,001,251 3,687,045 4,547,570 Tax calculated at statutory tax rate (*) 514,456 942,991 1,171,389 Adjustments: Effect of income that is exempt from taxation (42,440 ) (41,335 ) (73,488 ) Effect of expenses that are not deductible in determining taxable income 19,451 18,933 26,793 Adjustments recognized in the current period in relation to the current tax of prior periods 4,914 3,078 (14,088 ) Others (10,379 ) 1,099 67,890 Sub-total (28,454 ) (18,225 ) 7,107 Income tax expense 486,002 924,766 1,178,496 Effective tax rate 24.30 % 25.10 % 25.90 % (*) The applicable income tax rate: % up to 200 million Won in tax basis, 22% over 200 million Won to 20 billion Won, 24.2% over 20 billion Won to 300 billion Won and 27.5% over 300 billion Won. (3) Changes in deferred tax assets and liabilities for the years ended December 31, 2020, 2021 and 2022, are as follows (Unit: Korean Won in millions): 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. For the year ended December 31, 2022 Beginning Business Recognized Recognized as Ending Balance Gain (loss) on financial assets 273,356 — (55,410 ) 155,199 373,145 Gain on valuation using the equity method of accounting 15,260 — 11,139 (5,844 ) 20,555 Gain (loss) on valuation of derivatives (149,805 ) — 159,664 758 10,617 Accrued income (82,482 ) — (7,848 ) — (90,330 ) Provision for loan losses (34,625 ) — 14,520 — (20,105 ) Loan and receivables written off 8,244 — (318 ) — 7,926 Loan origination costs and fees (194,463 ) — 25,370 — (169,093 ) Defined benefit liability 449,615 — 15,760 (95,590 ) 369,785 Deposits with employee retirement insurance trust (432,001 ) — (18,437 ) 216 (450,222 ) Provision for guarantee 7,424 — 904 — 8,328 Other provision 100,571 — (13,342 ) — 87,229 Others (*) (99,803 ) (1,473 ) 16,878 14,063 (70,335 ) Net deferred tax assets (138,709 ) (1,473 ) 148,880 68,802 77,500 (*) Among the deferred tax assets and liabilities classified as ‘Others,’ the deferred tax asset arising from unused tax losses amounts to 3,536 million Won. (4) Unrealizable temporary differences are as follows (Unit: Korean Won in millions): December 31, 2021 December 31, 2022 Deductible temporary differences 303,067 330,376 Tax loss carry forward 63,908 49,405 Taxable temporary differences (8,025,672 ) (8,898,834 ) Total (7,658,697 ) (8,519,053 ) No deferred income tax asset has been recognized for the deductible temporary difference of 325,601 million W W No deferred income tax liability has been recognized for the taxable temporary difference of 8,898,835 million W • 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, 2022, 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 36,967 10,828 — 1,610 (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 58,677 213,876 Gain on valuation of equity method investments 2,078 (3,766 ) Gain on foreign currency translation of foreign operations 5,689 9,938 Gain on valuation of hedge accounting of the net investment in foreign operations — 9,815 Remeasurements of the net defined benefit liability 74,790 (20,584 ) Gain on derivatives designated as cash flow hedge (843 ) (86 ) Total 140,391 209,193 (6) Current tax assets and liabilities are as follows (Unit: Korean Won in millions): December 31, December 31, Current tax assets 22,598 53,274 Current tax liabilities 584,491 843,555 |
Earnings per Share (EPS)
Earnings per Share (EPS) | 12 Months Ended |
Dec. 31, 2022 | |
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 2020 2021 2022 Net income attributable to common shareholders 1,307,266 2,542,844 3,186,772 Dividends to hybrid securities (48,915 ) (66,250 ) (91,756 ) Net income attributable to common shareholders 1,258,351 2,476,594 3,095,016 Weighted average number of common shares outstanding (Unit: million shares) 722 724 728 Basic EPS (Unit: Korean Won) 1,742 3,419 4,251 (2) The weighted average number of common shares outstanding is as follows (Unit: number of shares, days): 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 For the year ended December 31, 2022 Period Number of Dates Accumulated Common shares issued at the beginning of the period 2022-01-01 2022-12-31 728,060,549 365 265,742,100,385 Treasury stocks 2022-01-01 2022-12-31 (343,991 ) 365 (125,556,715 ) Sub-total 265,616,543,670 Weighted average number of common shares outstanding (②=(①/365) 727,716,558 Diluted EPS is equal to basic EPS because there is no dilution effect for the years ended December 31, 2021 and 2022. |
Contingent Liabilities and Comm
Contingent Liabilities and Commitments | 12 Months Ended |
Dec. 31, 2022 | |
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, 2021 December 31, 2022 Confirmed guarantees Guarantee for loans 38,897 39,684 Acceptances 622,758 501,921 Guarantees in acceptances of imported goods 111,195 97,920 Other confirmed guarantees 7,215,557 6,847,713 Sub-total 7,988,407 7,487,238 Unconfirmed guarantees Local letters of credit 243,072 150,075 Letters of credit 3,186,513 3,014,228 Other unconfirmed guarantees 778,088 1,144,498 Sub-total 4,207,673 4,308,801 Commercial paper purchase commitments and others 791,729 125,547 Total 12,987,809 11,921,586 (*) Includes financial guarantees of 3,960,383 million Won and 3,095,091 million Won as of December 31, 2021 and December 31, 2022, respectively. (2) Details of unused loan commitments and others are as follows (Unit: Korean Won in millions): December 31, December 31, Loan commitments 114,414,462 118,172,070 Other commitments (*) 5,652,557 7,107,828 (*) As of December 31, 2021 and 2022, the amount of unsecured bills (purchase note sales) and discounts on electronic short-term bond sales (purchase) are 2,225,226 million Won and 2,505,399 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 475 cases (litigation value of 578,505 million W W W W (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 acquired the second transaction stake on March 31, 2023. In regard to this acquisition, the Group recognized 174,780 million Won as other financial liabilities for the second sales agreement. 2) As of December 31, 2022, Woori Asset Trust Co., Ltd., a subsidiary (U-dong, Haeundae-gu). 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, 2022, the total PF loan amount of PF loan institutions invested in the project of the Land Trust responsible for Construction and Management is 3,607,592 million Won. Although additional losses may occur in relation to the construction completion obligations, the financial statements as of December 31, 2022 do not reflect these effects since losses are unlikely and the amount cannot be estimated reliably. 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. 4) As of December 31, 2022, Woori Asset Trust Co., Ltd, a subsidiary, is able to borrow part of its total business expense related to its 13 development trust contracts including Boutique Terrace Haeundae Hotel from trust accounts, and the maximum amount of additional loan amount (unused loan commitment) is 52,783 million Won. In relation to those projects, the Group’s trust accounts loan is not unconditional payment obligation, and it would be judged by considering all related matters such as its own account and the fund balance plan for each trust project s |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of transactions between related parties [abstract] | |
Related Party Transactions | 41. RELATED PARTY TRANSACTIONS Related parties of the Group as of December 31, 2021 and 2022, and assets and liabilities recognized, guarantees and commitments, major transactions with related parties and compensation to key management for the years ended December 31, 2021 and 2022 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, 2021 December 31, 2022 Associates W Service Networks Co., Ltd. Loans 20 120 Deposits due to customers 2,832 3,298 Accrued expenses 6 7 Other liabilities 425 109 Korea Credit Bureau Co., Ltd. Loans 2 2 Deposits due to customers 1,557 4,450 Other liabilities — 40 Korea Finance Security Co., Ltd. Loans 3,425 3,433 Loss allowance (6 ) (46 ) Deposits due to customers 1,887 1,764 Other liabilities 2 6 LOTTE CARD Co. Ltd. Loans 3,750 50,000 Account receivables — 16 Loss allowance (39 ) (30 ) Other assets 10 — Deposits due to customers 13,482 35,986 Other liabilities 91 74 K BANK Co., Ltd. Loans 99 3 Account receivables 29 31 Other liabilities 84,935 108,156 Related parties Account title December 31, 2021 December 31, 2022 Others (*1) Loans 73,940 68,660 Loss allowance (124 ) (34 ) Other assets 739 768 Deposits due to customers 1,063 3,622 Other liabilities 3 119 (*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, 2021 and 2022. (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 2020 2021 2022 Associates W Service Network Co., Ltd. Other income 32 30 — Interest expenses 13 7 14 Fees expenses 525 612 543 Reversal of allowance for credit losses (4 ) — — Other expenses 2,174 1,878 1,907 Korea Credit Bureau Co., Ltd. Interest expenses 5 4 40 Fees expenses 3,155 3,503 3,730 Other expenses — 68 139 Korea Finance Security Co., Ltd. Interest income 70 80 141 Interest expenses 3 2 3 Provision of allowance for credit losses 3 1 44 Other expenses 100 92 52 Chin Hung International Inc. Interest expenses 19 — — Reversal of allowance for credit losses (145 ) — — LOTTE CARD Co., Ltd. Interest income 311 196 83 Fees income 2,748 10,248 7,701 Interest expenses 68 462 1,902 Provision (Reversal) of allowance for credit losses 171 (59 ) (27 ) K BANK Co., Ltd. Fees income 1,763 1,952 698 Fees expenses — 636 937 Well to Sea No.3 Private Equity Fund Interest income 1,883 — — Interest expenses 5 — — Reversal of allowance for credit loss (55 ) — — Others (*1) Interest income — 679 713 Fees income 2,677 5,546 7,138 Dividends income 52 — — Other income 16 — — Interest expenses 28 17 10 Provision of allowance for credit loss — 2 92 Provision of impairment losses due to credit loss — — 1 (*1) 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, 2021 and 2022. (3) Major loan transactions with related parties for the years ended December 31, 2020, 2021 and 2022 are as follows (Unit: Korean Won in millions): 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. For the year ended December 31, 2022 Related parties Beginning Loan Collection Others Ending Associates W Service Network Co., Ltd. 20 352 252 — 120 Korea Credit Bureau Co., Ltd. 2 15 15 — 2 Korea Finance Security Co., Ltd. 3,425 2,407 2,399 — 3,433 LOTTE CARD Co., Ltd. 3,750 50,000 3,750 — 50,000 K BANK Co., Ltd. 99 315 411 — 3 Godo Kaisha Oceanos 1 43,033 41,467 43,033 (1,653 ) 39,814 Woori Zip 1 12,775 — — (956 ) 11,819 Woori Zip 2 18,132 — — (1,356 ) 16,776 Central Network Solutions Co., Ltd. — 251 — — 251 (*) 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 years ended December 31, 2020, 2021 and 2022 are as follows (Unit: Korean Won in millions): 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. For the year ended December 31, 2022 Related parties Beginning Increase Decrease Ending balance (*) Associates W Service Networks Co., Ltd 1,180 1,200 1,180 1,200 Partner One Value Up I Private Equity Fund 329 550 779 100 Korea Credit Bureau Co., Ltd. — 3,000 — 3,000 (*) 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, 2021 and 2022. (6) Guarantees provided to the related parties are as follows (Unit: Korean Won in millions): Warrantee December 31, 2021 December 31, 2022 Warranty Korea Finance Security Co., Ltd. 835 627 Unused loan commitment Korea Credit Bureau Co., Ltd. 33 33 Unused loan commitment W Service Network Co., Ltd. 180 60 Unused loan commitment K BANK Co., Ltd. 201 297 Unused loan commitment LOTTE CARD Co. Ltd. 500,000 450,000 Unused loan commitment D-Custody — 10 Unused loan commitment As of December 31, 2021 and 2022, the recognized payment guarantee provisions are 93 million W W (7) Amount of commitments with the related parties Warrantee December 31, 2021 December 31, 2022 Warranty IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 4,664 4,664 Securities purchase commitment WooriG Senior Loan General Type Private Investment Trust No.1 14,284 — Securities purchase commitment Woori Seoul Beltway Private Special Asset Fund No.1 39,458 37,146 Securities purchase commitment Woori-Q 11,109 12,555 Securities purchase commitment Union Technology Finance Investment Association 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 — Securities purchase commitment JC Assurance No.2 Private Equity Fund 1,351 1,351 Securities purchase commitment Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 425 325 Securities purchase commitment WooriG Oncorp Corporate support of Major Industry General Type Private Investment Trust (Type 2) 669 39 Securities purchase commitment BTS 2nd Private Equity Fund — 6,974 Securities purchase commitment STASSETS FUND III — 13,500 Securities purchase commitment Together Korea Government Private Securities Investment Trust No.3 — 990,000 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, 2021 and 2022 are as follows (Unit: Korean Won in millions): For the year ended December 31, 2021 Related parties Investment others (*) 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) For the year ended December 31, 2022 Related parties Investment others (*) Recovery Woori High Plus Short-term High Graded ESG Bond Sec Feeder Inv Trust 1 — 21,606 Woori High Plus Bond Sec Feeder Inv Trust 3(USD) — 1,052 Woori BANKPLUS IPO 10 FEEDER FUND 2(BALANCED BOND) 200 — Woori Two-year — 213 Woori China Mainland Stock Securities Investment Trust H(Securities) — 443 Woori Long-term government bond securities Investment Trust No.1 — 1,951 Woori Republic of Korea Treasury Bond Active ETF(Bond) 3,000 — Woori K-New 200 — Woori 2023 Maturity Securities Investment Trust(Bond) 200 — Woori 2024 Maturity Securities Investment Trust 1(Bond) 200 — Woori BIG SATISFACTION SHINJONG MMF 3RD 320,000 — Woori MULTI RETURN PRIVATE EQUITY 1 — 8,559 Woori 2024 December Maturity Securities Investment Trust 1(Bond) 200 — Woori Two-year — 209 Woori G Oncorp Corporate support of Major Industry General Type Private Investment Trust (Type 2) 630 — (*) 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 2020 2021 2022 Short-term employee salaries 22,778 20,742 21,990 Retirement benefit service costs 910 815 937 Share-based compensation 3,519 6,970 4,234 Total 27,207 28,527 27,161 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 3,821 million W W W W |
Leases
Leases | 12 Months Ended |
Dec. 31, 2022 | |
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 are as follows (Unit: Korean Won in millions): 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 December 31, 2022 Total investment in lease Net investment in lease Within one year 160,181 146,749 After one year but within two years 231,075 215,497 After two years but within three years 366,599 338,709 After three years but within four years 501,034 452,099 After four years but within five years 368,420 314,696 After five years 19 18 Total 1,627,328 1,467,768 ② The unrealized interest income of the finance lease is as follows (Unit: Korean Won in millions): December 31, December 31, Total investment in lease 1,298,516 1,627,328 Net investment in lease 1,173,565 1,467,768 Present value of minimum lease payments 1,173,565 1,467,768 Present value of unguaranteed residual value — — Unearned interest income 124,951 159,560 2) Operating lease ① The details of operating lease assets are as follows (Unit: Korean Won in millions): December 31, 2021 December 31, 2022 Prepaid lease assets 4,579 3,121 Operating lease assets Acquisition cost 2,299,968 3,320,275 Accumulated depreciation (521,660 ) (729,818 ) Net carrying value 1,778,308 2,590,457 Total 1,782,887 2,593,578 ② The details of changes in operating lease assets as of December 31, 2022 are as follows and there is no details of changes in operating lease assets as of December 31, 2021 (Unit: Korean Won in millions) December 31, 2021 December 31, 2022 Beginning balance 1,116,175 1,778,308 Acquisition 984,093 1,321,251 Disposal (93,138 ) (138,189 ) Depreciation (250,971 ) (388,895 ) Others 22,149 17,982 Ending balance 1,778,308 2,590,457 ③ The future lease payments to be received under the lease contracts are as follows (Unit: Korean Won in millions): December 31, 2021 December 31, 2022 Within one year 377,153 567,998 After one year but within two years 347,539 526,899 After two years but within three years 262,176 420,244 After three years but within four years 170,391 275,080 After four years but within five years 79,555 86,606 Total 1,236,814 1,876,827 ④ There is no adjusted lease payments recognized as profit or loss for the years ended December 31, 2021 and 2022. (2) Lessee 1) The future lease payments under the lease contracts are as follows (Unit: Korean Won in millions): December 31, 2021 December 31, 2022 Lease payments Within one year 151,259 170,781 After one year but within five years 155,707 152,145 After five years 38,275 33,007 Total 345,241 355,933 2) Total cash outflows from lease are as follows (Unit: Korean Won in millions): For the years ended December 31 2021 2022 Total cash outflows from lease 180,884 192,540 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 are as follows (Unit: Korean Won in millions): For the years ended December 31 2021 2022 Lease payments for short-term leases 1,598 1,469 Lease payments for which the underlying asset is of low value 1,488 1,316 Total 3,086 2,785 Variable lease payments that were not included in the measurement of lease liabilities for the years ended December 31, 2022 were 5,470 million Won. (3) The Group uses a practical expedient that does not assess whether it is a lease change to the rend discount incurred directly as a result of COVID-19. W |
Business combination
Business combination | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of detailed information about business combination [abstract] | |
Business Combination | 43. BUSINESS COMBINATION The Group acquired 2,193,552,006 shares, equivalent to 82.03% of the total issued shares of PT Batavia Prosperindo Finance Tbk, an Indonesian listed company, of 2,673,995,362 shares on August 31, 2022 as the acquisition date for the purpose of entering the local financial industry in Indonesia , and changed its name to PT Woori Finance Indonesia Tbk. 1) As of the acquisition date, the transfer price, acquisition assets, liabilities, and non-controlling Amount Fair value of transfer price Cash 130,424 Amount recognized as assets and liabilities Cash and cash equivalents 5,607 Financial assets at amortized cost 95,587 Other assets 24,096 Borrowings 25,932 Other liabilities 10,150 Fair value of identifiable net assets 89,208 Non-controlling (*1) 16,453 Goodwill 57,670 (*1) Represents amount of a proportionate interest of the fair value of indentifiable net assets. 2) Assuming that the acquisition date of PT Woori Finance Indonesia Tbk by the Group is the commencement date of the financial statements, the consolidated income and consolidated net income are KRW 1,856,941 million and KRW 207,495 million, respectively. |
Events after the Reporting Peri
Events after the Reporting Period | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
Event After The Reporting Period | 44. EVENTS AFTER THE REPORTING PERIOD On February 27, 2023, the Group signed a stock sale contract to acquire a 52% stake in Daol Investment Co., Ltd. for 212.5 billion Won and, the Group changed its name to Woori Venture Partners Co., Ltd. and incorporated it as a subsidiary on March 23, 2023. |
Basis of preparation and sign_2
Basis of preparation and significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
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 Won amounts are expressed in U.S. Dollars at the rate of 1,260.2 Korean Wo exchange 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 IAS 7 ‘ Statement of cash flow The Group did not classify deposits with restrictions under relevant regulations, such as reserve deposits, as cash and cash equivalents. However, in accordance of the IFRS Interpretation Committee’s agenda decision in April 2022 ‘Demand deposits restricted on use under contracts with third parties’ and reply to IFRS inquiries ‘whether the reserve deposit should be classified as cash and cash equivalents’ the policy was changed to classifying the reserve deposits with restrictions under relevant regulations which meet the criteria of demand deposits as cash and cash equivalent and applied the modification retrospectively. The impact of this change in accounting policy is as follows: a) Impact on the statements of financial position December 31, 2022 December 31, 2021 January 1, 2021 Increase in cash and cash equivalents 22,965,162 13,047,255 7,352,253 Decrease in loans and other financial assets at amortized cost (22,965,162 ) (13,047,255 ) (7,352,253 ) b) Impact on the statements of cash flow December 31, 2022 December 31, 2021 Increase in cash flows from operating activities 9,981,310 5,600,710 Increase in exchange rate changes on cash and cash equivalents denominated in foreign currencies (63,403 ) 94,292 Net increase in cash and cash equivalents 9,981,310 5,600,710 Increase in cash and cash equivalents, the beginning of the year 13,047,255 7,352,253 Increase in cash and cash equivalents, the end of the year 22,965,162 13,047,255 ② 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 amendment does not have a significant impact on the financial statements. ③ Amendments to IAS 37 ‘ Provisions, Contingent Liabilities and Contingent Assets’ 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 amendment does not have a significant impact on the financial statements. ④ Amendments to IAS 16 ‘ Property, Plant and Equipment’ 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 amendment does not have a significant impact on the financial statements. ⑤ Annual Improvements to IFRS 2018-2020 The annual improvement includes some amendments to IFRS 1 ‘First time Adoption of Korean International Financial Reporting Standards’, IFRS 9 ‘Financial Instrument’s, IFRS 16 ‘Lease’, IAS 41 ‘Agriculture’. These amendments do not have a significant impact on the consolidated financial statements. • IFRS 1 ‘ First time Adoption of Korean International Financial Reporting Standards’ • IFRS 9 ‘ Financial Instrument’s • IFRS 16 ‘Lease’ • IAS 41 ‘ Agriculture’ |
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 December 31,2022 but have not yet reached the effective date, and which the Group have not been early adopted by the Group are as follows: ① Amendments to IAS 1 ‘ Presentation of Financial Statements Non-current The amendments clarify that liabilities are classified as either current or non-current, ② Amendments to IAS 1 ‘ Presentation of Financial Statements ‘IFRS Practice Statement 2’ has been amended to define and disclose important accounting policies and to provide guidance on how to apply the concept of importance. 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. ③ Amendments to IAS 1 ‘ Presentation of Financial Statements’— The amendments require disclosure of valuation gains or losses (limited to those recognized in the profit or loss) of the conversion options or warrants (or financial liabilities including them), if all or part of the financial instrument with exercise price that is adjusted depending on the issuer’s share price change is classified as financial liability as defined in paragraph 11 (2) of IAS 32. 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. ④ Amendments to IAS 8 ‘ Accounting Policies, Changes in Accounting Estimates and Errors 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. ⑤ Amendments to IAS 12 ‘ Income Taxes 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 amount 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 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 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 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 at FVTPL are initially recognized at fair value, with any direct transaction cost recognized in profit or loss and are subsequently measured at fair value. Any profit or loss from financial liabilities at FVTPL are recognized in profit or loss. Financial liabilities not classified as financial liabilities at FVTPL are measured at amortized cost. 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 carrying amount 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 carrying amount 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 carrying amount 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 carrying amount retained in the books, and to the portion of carrying amount 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 loss allowance account, and when the financial asset is determined to be uncollectible, the loss allowance is written off from the books along with the related financial asset. b) Measurement of expected credit losses on financial asset at FVTOCI (debt instruments) 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 carrying amount 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 26 to 57 years Structures in leased office 4 to 5 years Properties for business purpose 4 to 7 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 a 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 carrying amount 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, carrying amount 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 carrying amount. 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 carrying amount 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 carrying amount 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(tax loss) 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, 2022 | |
Disclosure of accounting judgements and estimates explanatory [Abstract] | |
Impact of deferred loan principal and interest due to covid 19 | 1) COVID-19 The diffusion 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 information related to the duration of the impact of COVID-19 <Woori Bank> Woori Bank’s total loans (loan receivables, payment guarantees) that are subject to loan deferment and interest deferment, total loans that changed its stage from 12-month December 31, 2021 December 31, 2022 Total loans (loan receivables, payment guarantees) that are subject to loan deferment and interest deferment Corporate 2,428,496 1,960,524 Retail 167,146 216,487 Total 2,595,642 2,177,011 Total loans changed its stage from 12-month Corporate 2,125,492 1,777,108 Retail 134,920 169,851 Total 2,260,412 1,946,959 The expected credit loss allowances that are additionally recognized Corporate 275,057 312,371 Retail 9,657 12,643 Total 284,714 325,014 In addition, as of December 31, 2021 and 2022 the Group applied the overlay in consideration of the potential for insolvency due to market interest rate hikes and the increase in economic uncertainty due to the prolonged spread of COVID-19 As of December 31, 2021 and 2022, the monetary effect of the provision for expected credit loss due to the application of the forecast of future economic conditions overlay is as follows. (Unit: Korean Won in millions): December 31, 2021 December 31, 2022 Corporate 48,583 347,801 Retail 6,237 16,256 Total 54,820 364,057 <Woori Card> Woori Card Co., Ltd. determined that the credit risk of obligors receiving financial support due to COVID-19 W W <Woori Financial Capital Co., Ltd.> Woori Financial Capital Co., Ltd. determined that the credit risk of obligors receiving financial support due to COVID-19 COVID-19 W W W W |
Accounting policy for income tax | 2) 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/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 carrying amount 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 | 3) 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 | 4) 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. |
Accounting policy for defined benefit plan | 5) 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, 2022 | |
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 Exchange ratio per share Number of Parent Woori Bank 676,000,000 1.0000000 676,000,000 Woori FIS Co., Ltd. 4,900,000 0.2999708 1,469,857 Woori Finance Research Institute Co., Ltd. 600,000 0.1888165 113,289 Woori Credit Information Co., Ltd. 1,008,000 1.1037292 1,112,559 Woori Fund Service Co., Ltd. 2,000,000 0.4709031 941,806 Woori Private Equity Asset Management Co., Ltd. 6,000,000 0.0877992 526,795 |
Disclosure of investments in subsidiaries | (2) Details of the Parent company and subsidiaries (hereinafter ‘Group’) as of December 31, 2021 and 2022 are as follows: Percentage of ownership (%) Location Financial Subsidiaries Main business December 31, December 31, Held by Woori Financial Group Inc. Woori Bank Bank 100.0 100.0 Korea December Woori Card Co., Ltd. Finance 100.0 100.0 Korea December Woori Financial Capital Co., Ltd. Finance 100.0 100.0 Korea December Woori Investment Bank Co., Ltd. Other credit finance business 58.7 58.7 Korea December Woori Asset Trust Co., Ltd. Real estate trust 67.2 67.2 Korea December Woori Savings Bank (*7) Mutual saving bank 100.0 100.0 Korea December Woori Asset Management Corp. Finance 73.0 73.0 Korea December Woori Financial F&I Co., Ltd. Finance — 100.0 Korea December Woori Credit Information Co., Ltd. Credit information 100.0 100.0 Korea December Woori Fund Service Co., Ltd. Financial support service business 100.0 100.0 Korea December Woori Private Equity Asset Management Co., Ltd. Finance 100.0 100.0 Korea December Woori Global Asset Management Co., Ltd. Finance 100.0 100.0 Korea December Woori FIS Co., Ltd. System software development & maintenance 100.0 100.0 Korea December Woori Finance Research Institute Co., Ltd. Other service business 100.0 100.0 Korea December Held by Woori Bank Woori America Bank (*1) Finance 100.0 100.0 America December Woori Global Markets Asia Limited Finance 100.0 100.0 Hong Kong December Woori Bank China Limited Finance 100.0 100.0 China December AO Woori Bank (*10) Finance 100.0 100.0 Russia December PT Bank Woori Saudara Indonesia 1906 Tbk (*1) Finance 84.2 84.2 Indonesia December Banco Woori Bank do Brasil S.A. Finance 100.0 100.0 Brazil December Korea BTL Infrastructure Fund Finance 99.9 99.9 Korea December Woori Finance Myanmar Co., Ltd. Finance 100.0 100.0 Myanmar December Wealth Development Bank Finance 51.0 51.0 Philippines December Woori Bank Vietnam Limited Finance 100.0 100.0 Vietnam December Woori Bank (Cambodia) PLC (*9) Finance 100.0 100.0 Cambodia December Woori Bank Europe (*1) Finance 100.0 100.0 Germany December Kumho Trust First Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Asiana Saigon Inc. (*2) Asset securitization 0.0 0.0 Korea December KAMCO Value Recreation First Securitization Specialty Co., (*2) Asset securitization 15.0 15.0 Korea December Deogi Dream Fourth Co., Ltd. (*2)(*5) Asset securitization 0.0 — Korea — Jeonju Iwon Ltd. (*2) Asset securitization 0.0 0.0 Korea December Wonju I one Inc. (*2) Asset securitization 0.0 0.0 Korea December Heitz Third Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woorihansoop 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori International First Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December 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)(*5) Asset securitization 0.0 — Korea — Tiger Eyes 2nd Co., Ltd. ( *2)(*5) Asset securitization 0.0 — Korea — Woori Display 2nd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori Dream 2nd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori H 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori K 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori S 1st Co., Ltd. ( *2) Asset securitization 0.0 0.0 Korea December Percentage of ownership (%) Location Financial Subsidiaries Main business December 31, December 31, Woori Display 3rd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December TY 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori-HJ (*2)(*5) Asset securitization 0.0 — Korea — Woori K 2nd Co., Ltd. (*2)(*5) Asset securitization 0.0 — Korea — Woori KC No.1 Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Quantum Jump the 2nd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Quantum Jump the 1st Co., Ltd. (*2)(*5) Asset securitization 0.0 — Korea — Woori BK the 1st Co., Ltd. (*2)(*5) Asset securitization 0.0 — Korea — Woori-HC (*2)(*5) Asset securitization 0.0 — Korea — Wivi Synergy 1st Co.,Ltd. (*2)(*5) Asset securitization 0.0 — Korea — ATLANTIC TRANSPORTATION 1 S.A. (*2) Asset securitization 0.0 0.0 Marshall islands December Woori Gongdeok First Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December HD Project Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori HW 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori HC 2nd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori Dream 3rd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori SJS 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori Steel 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December SPG the 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori-HWC (*2) Asset securitization 0.0 0.0 Korea December Woori HC 3rd Co., Ltd. (*2). Asset securitization 0.0 0.0 Korea December Woori Park I 1st co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori DS 1st co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori HC 4th Co., Ltd. (*2). Asset securitization 0.0 0.0 Korea December Woori SKR 1st Co., Ltd. (*2). Asset securitization 0.0 0.0 Korea December Woori H chemical 1st Co.,Ltd. (*2) Asset securitization 0.0 0.0 Korea December HE the 1st Co.,Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori Hub The 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori K The 3rd Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori KF 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December WooriI TS 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori H Square 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori L Yongsan 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori HC 5th Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori Ladena 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori HR 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori Lotte Dongtan 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori HC 6th Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December Woori ECO 1st Co., Ltd. (*2) Asset securitization 0.0 0.0 Korea December 31 Woori HO 1th Co., Ltd. (*2) Asset securitization — 0.0 Korea December Woori ESG 1st Co.,Ltd. (*2) Asset securitization — 0.0 Korea December Woori Osiria 1st Co.,Ltd. (*2) Asset securitization — 0.0 Korea December Woori Eco 2nd Co.,Ltd. (*2) Asset securitization — 0.0 Korea December Gangnam Landmark 2nd Co., Ltd (*2) Asset securitization — 0.0 Korea December Woori HP the 1st co.,Ltd. (*2) Asset securitization — 0.0 Korea December G5 Pro Short-term Bond Investment Fund 13 (*3)(*5) Securities investment and others 100.0 — Korea — Heungkuk Global Private Placement Investment Trust No. 1 (*3) Securities investment and others 98.8 98.8 Korea December AI Partners UK Water Supply Private Placement Investment Trust No.2 (*3) Securities investment and others 97.3 97.3 England December Multi Asset Global Real Estate Investment Trust No. 5-2 (*3) Securities investment and others 99.0 99.0 Korea December IGIS Australia Investment Trust No. 209-1 (*3) Securities investment and others 99.4 99.4 Korea December INMARK Spain Private Placement Real Estate Investment Trust No. 26-2 (*3) Securities investment and others 97.7 97.7 Korea December Woori G Japan General Type Private Real Estate Feeder Investment Trust No.1-2 (*3) Securities investment and others 98.8 98.8 Korea December IGIS Global Private Placement Real Estate Fund No. 316-1 (*3) Securities investment and others 99.3 99.3 Korea December Woori G Secondary Private Placement Investment Trust No. 1 (*3) Securities investment and others 98.1 98.3 Korea December Percentage of ownership (%) Location Financial Subsidiaries Main business December 31, December 31, Woori G Japan Blind General Type Private Real Estate Feeder Investment Trust No.1 (*3) Securities investment and others 99.8 99.9 Korea December JB Airline Private Placement Investment Trust No.8 (*3) Securities investment and others 97.0 97.0 Korea December Kiwoom Harmony Private Placement Investment Trust No. 2 (*3) Securities investment and others 97.1 97.1 Korea December Kiwoom Harmony Private Placement Investment Trust No. 1 (*3) Securities investment and others 96.0 97.2 Korea December Kiwoom Frontier Private Investment Trust No.23[Bond] (*3) Securities investment and others — 99.8 Korea December Principal Guaranteed Trust (*4) Trust 0.0 0.0 Korea December Principal and Interest Guaranteed Trust (*4) Trust 0.0 0.0 Korea December Held by Multi Asset Global Real Estate Investment Trust No. 5-2 MAGI No.5 LuxCo S.a.r.l. Asset securitization 54.6 54.6 Luxembourg December Held by MAGI No.5 LuxCo S.a.r.l. ADP 16 Brussels Asset securitization 99.9 99.9 Belgium December Held by Woori Card Co., Ltd. TUTU Finance –WCI Myanmar Co., Ltd. Finance 100.0 100.0 Myanmar December PT Woori Finance Indonesia Tbk. Finance — 82.0 Indonesia December Woori Card 2018-1 (*2)(*5) Asset securitization 0.5 — Korea — Woori Card 2019-1 ( *2) Asset securitization 0.5 0.5 Korea December Woori Card 2020-1 (*2) Asset securitization 0.5 0.5 Korea December Woori Card 2021-1 (*2) Asset securitization 0.5 0.5 Korea December 31 Woori Card 2022-1 ( *2) Asset securitization — 0.5 Korea December Woori Card 2022-2 (*2) Asset securitization — 0.5 Korea December Woori Card 2023-1 (*2) Asset securitization — 0.5 Korea December Held by Woori Financial Capital Co., Ltd. ACE Auto Invest the 48th Securitization Specialty Co., Ltd. (*2)(*5) Asset securitization 1.0 — Korea — ACE Auto Invest the 49th Securitization Specialty Co., Ltd. (*2)(*5) Asset securitization 1.0 — Korea — Specified Money Market Trust Trust — 100.0 Korea December Held by Woori Investment Bank Co., Ltd. Seari First Securitization Specialty Co., Ltd. (*2)(*5) Asset securitization 5.0 — Korea — Seari Second Securitization Specialty Co., Ltd. ( *2) Asset securitization 5.0 5.0 Korea December Namjong 1st Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea December Bukgeum First Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea December Bukgeum Second Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea December WS1909 Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea December WS2003 Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea December WS2006 Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea December WJ2008 Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea December WH2103 Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea December WN2103 Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea December Percentage of ownership (%) Location Financial Subsidiaries Main business December 31, December 31, WH2106 Securitization Specialty Co., Ltd. (*2) Asset securitization 5.0 5.0 Korea December One Punch Korea the 1st Co., Ltd. (*2)(*5) Asset securitization 0.0 — Korea — One Punch blue the 1 st (*2)(*5) Asset securitization 0.0 — Korea — One Punch red the 1 st (*2)(*5) Asset securitization 0.0 — Korea — Held by Woori Asset Management Corp. Woori China Convertible Bond Hedging feeder Investment Trust H (debt-oriented hybrid) (*3) Securities investment and others 93.6 88.0 Korea December Woori Together TDF 2025 (*3)(*5) Securities investment and others 34.1 — Korea — Woori Together TDF 2030 (*3)(*5) Securities investment and others 32.3 — Korea — Woori Together TDF 2035 (*3) Securities investment and others 56.0 57.1 Korea December Woori Together TDF 2040 (*3) Securities investment and others 55.7 58.3 Korea December Woori Together TDF 2045 (*3) Securities investment and others 65.2 69.3 Korea December Woori Together TDF 2050 (*3) Securities investment and others 63.6 66.3 Korea December Woori Star50 Feeder Fund(H) (*3)(*5) Securities investment and others 44.8 — Korea — Woori BIG2 Plus Securities Investment Trust (Balanced Bond) (*3)(*5) Securities investment and others 40.8 — Korea — Woori Franklin Technology Master Fund (USD) (*3)(*11) Securities investment and others — 91.1 Korea December Woori Franklin Technology Feeder Fund (H) (*3) Securities investment and others — 71.8 Korea December Woori Together OCIO Target Return Master fund (*3)(*11) Securities investment and others — 100.0 Korea December Woori Together OCIO Target Return Feeder fund (*3) Securities investment and others — 81.2 Korea December Woori High Graded Bond Target Return Fund 1 (*3) Securities investment and others — 77.0 Korea December Woori Multi Return Private Equity 2 (*3) Securities investment and others — 30.9 Korea December Held by Woori Financial F&I Co., Ltd. WI2203 Securitization Specialty Co., Ltd. (*2) Asset securitization — 5.0 Korea December WM2203 Asset Securitization Specialty Co., Ltd. (*2) Asset securitization — 5.0 Korea December WNI2206 Asset Securitization Specialty Co., Ltd. (*2) Asset securitization — 5.0 Korea December WI2209 Securitization Specialty Co., Ltd. (*2) Asset securitization — 5.0 Korea December WN2212 Asset Securitization Specialty Co., Ltd. (*2) Asset securitization — 5.0 Korea December WK2212 Asset Securitization Specialty Co., Ltd. (*2) Asset securitization — 5.0 Korea December Held by Woori Financial Capital Co., Ltd., Woori Private (*6) Japanese Hotel Real Estate Private Equity Fund 1 (*3) Securities investment and others 100.0 100.0 Korea December Held by Woori Global Asset Management Co., Ltd. Woori G Global Multi Asset Income Private Placement Investment Trust_Class Cs (*3) Securities investment and others 37.9 37.9 Korea December Woori G Happy Retirement Lifetime Income TIF Mixed Asset Investment Trust[FoF] C(Y) (*3) Securities investment and others — 99.3 Korea December Percentage of ownership (%) Location Financial Subsidiaries Main business December 31, December 31, Held by Woori Bank, Woori Financial Capital Co., Ltd., Woori (*6) Woori Innovative Growth Professional Investment Type Private (*3) Securities investment and others 90.0 90.0 Korea December Held by Woori Bank, Woori Financial Capital Co., Ltd., Woori (*6) Woori Innovative Growth Professional Investment Type Private (*3) Securities investment and others 85.0 85.0 Korea December Woori Innovative Growth New Deal Private Investment Trust No.3 (*3) Securities investment and others 94.3 94.3 Korea December Held by Woori Bank, Woori Financial Capital Co., Ltd., and Woori (*6) Woori G GP Commitment Loan General Type Private Investment (*3) Securities investment and others 100.0 100.0 Korea December Woori G Equity Bridge Loan General Type Private Investment (*3) Securities investment and others 80.0 80.0 Korea December Woori G GP Commitment Loan General Type Private Investment (*3) Securities investment and others — 100.0 Korea December Held by Woori Bank, Woori Financial Capital Co., Ltd., and Woori (*6) Woori G New Deal(Infrastructure) Policy Fund No.1 (*3) Securities investment and others — 70.0 Korea December Held by Woori bank and Woori Investment Bank Co., Ltd. (*6) Heungkuk Woori Tech Company Private Placement Investment (*3)(*5) Securities investment and others 100.0 — Korea — Woori Global Development Infrastructure Synergy Company (*3) Securities investment and others 100.0 100.0 Korea December Woori G NorthAmerica Infra Private Placement Investment Trust (*3) Securities investment and others 100.0 100.0 Korea December Woori G Infrastructure New Deal Specialized Investment Private (*3) Securities investment and others 100.0 100.0 Korea December Woori G General Type Private Real Estate Investment Trust No.2 (*3) Securities investment and others 30.1 30.1 Korea December Woori G ESG Infrastructure Development General Type Private (*3) Securities investment and others 100.0 100.0 Korea December Held by Woori bank (*6) Woori G WooriBank Partners General Type Private Investment (*3) Securities investment and others 92.6 92.6 Korea December Woori G General Type Private Real Estate Investment Trust No.1 (*3) Securities investment and others 80.0 80.0 Korea December Woori G Global Mid-market (*3) Securities investment and others 80.0 80.0 Korea December Woori G Woori Bank Partners Professional Type Private (*3) Securities investment and others 90.9 90.9 Korea December Woori G General Type Private Real Estate Investment Trust No.5 (*3) Securities investment and others 87.0 86.8 Korea December Woori G Senior Loan General Type Private Investment Trust No.2 (*3) Securities investment and others — 50.0 Korea December Woori G Government Bond MMF C/I (*3) Securities investment and others — 46.0 Korea December Percentage of ownership (%) Location Financial Subsidiaries Main business December 31, December 31, Held by Woori Bank and Woori Financial Capital Co., Ltd. (*6) Woori G Renewable New Deal Fund No.1 (*3) Securities investment and others — 60.0 Korea December Woori G Equity Investment General Type Private Investment Trust No.1 (*3) Securities investment and others — 100.0 Korea December Woori Busan Logistics Infra Private Placement Special Asset Investment Trust (*3) Securities investment and others — 100.0 Korea December Held by Woori Financial Capital Co., Ltd. (*6) Woori G Japan Private Placement Real Estate Feeder Investment Trust No.1-1 (*3) Securities investment and others 63.2 63.2 Korea December Held by Woori Bank, Woori Card Co., Woori Financial Capital Co., Ltd. and Woori Investment Bank Co., Ltd. (*6) Woori FG Digital Investment Fund (*3) Securities investment and others — 100.0 Korea December Held by Woori G Japan Private Placement Real Estate Feeder (*6) Woori G Japan Private Placement Real Estate Master Investment Trust No.1 (*3) Securities investment and others 100.0 100.0 Korea December 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) Securities investment and others 100.0 100.0 Korea December 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) Securities investment and others 100.0 100.0 Korea December Held by Woori G Japan Private Placement Real Estate Master Investment Trust No.1 (*3) Other financial services 99.9 99.9 Japan October 31 (*8) Held by Woori G Japan Blind General Type Private Real Estate Feeder Investment Trust No.1 (*6) Woori G Private Placement Investment Trust No. 3 (*3) Securities investment and others — 76.5 Korea December Held by Woori G Private Placement Investment Trust No. 3 Other financial services — 100.0 Japan December Held by (*6) Woori Seoul- Chuncheon Highway Private Placement Special Asset Investment Trust No.1 (*3) Securities investment and others — 48.0 Korea December (*1) Additional investment occurred made for year ended December 31, 2021. (*2) T he 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 (*3) The entity is a structured entity for the purpose o f investment in securities. Although the Group is not a majority shareholder, the Group 1) has th (*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 (*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 (*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 the financial statements for the end of the reporting period were not available, the most recent financial statements available from the date of settlement were used. (*9) The Parent company’s subsidiary WB Finance Co., Ltd. has changed the name to WOORI BANK (CAMBODIA) PLC. (*10) The Russia—Ukraine conflict has been escalated in February 2022, Russia is imposed to the international sanctions. Due to the sanctions, the lack of liquidity in the Russian 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, decrease in the profit. As of December 31, 2022, 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. (*11) As a master |
Unconsolidated companies with more than 50 Percent ownership interests | (3) The Group has not consolidated the following entities as of December 31, 2021 and 2022 despite having more than 50% ownership interest: As of December 31, 2021 Subsidiaries Location Main Business Percentage of Mirae Asset Maps Clean Water Private Equity Investment Trust 7th (*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 (*2)(*4) Korea Securities Investment 97.9 IGIS Global Private Placement Real Estate Fund No. 148-1 (*1)(*4) Korea Securities Investment 75.0 IGIS Global Private Placement Real Estate Fund No. 148-2 ( *1)(*4) Korea Securities Investment 75.0 Mirae Asset Seoul Ring Expressway Private Special Asset Fund No. 1 (*1)(*4) Korea Securities Investment 66.7 Hangkang Sewage Treatment Plant Fund (*1)(*4) Korea Securities Investment 55.6 Korea Investment Pocheon Hwado Expressway Professional Investment Fund (*1)(*4) Korea Securities Investment 55.2 Midas Global Private Placement Real Estate Investment Trust No. 7-2 (*1)(*4) Korea Securities Investment 58.3 Together-Korea Government Private Pool Private Securities Investment Trust No.3 (*3)(*4) Korea Securities Investment 100.0 INMARK France Private Placement Investment Trust No. 18-1 (*1)(*4) Korea Securities Investment 93.8 Kiwoom Vibrato Private Placement Investment Trust 1-W(EUR) (*2)(*4) Korea Securities Investment 99.5 KOTAM Global Infrastructure Private Equity Investment Trust No. 1-4 (*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)(*4) Korea Securities Investment 50.0 Kiwoom Harmony Private Placement Investment Trust No. 3 (*1)(*4) Korea Securities Investment 77.4 Consus Solar Energy Private Placement Investment Truns No.1 (*1) Korea Securities Investment 50.0 (*1) The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. (*2) The Group does not have power over the fund of funds because the Group cannot decide the relevant activities of the fund through the related contract. The (*3) The Group does not have power over the stock market stabilization fund as the fund’s relevant activities are determined by the management committee, over which the Group does not have substantial control. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. (*4) In accordance with the amendment to the Capital Market Act, a specialized investment type private equity fund has been changed to a general private equity fund during the prior period. As of December 31, 2022 Subsidiaries Location Main Business Percentage of Mirae Asset Maps Clean Water Private Equity Investment Trust 7th (*1) Korea Securities Investment 57.6 Kiwoom Yonsei Private Equity Investment Trust (*1) Korea Securities Investment 88.9 IGIS Europe Private Placement Real Estate Fund No. 163-2 (*2) Korea Securities Investment 97.8 IGIS Global Private Placement Real Estate Fund No. 148-1 (*1) Korea Securities Investment 75.0 IGIS Global Private Placement Real Estate Fund No. 148-2 (*1) Korea Securities Investment 75.0 Mirae Asset Seoul Ring Expressway Private Special Asset Fund No. 1 (*1) Korea Securities Investment 66.7 Hangkang Sewage Treatment Plant Fund (*1) Korea Securities Investment 55.6 Korea Investment Pocheon Hwado Expressway Professional Investment Fund (*1) Korea Securities Investment 55.2 Midas Global Private Placement Real Estate Investment Trust No. 7-2 (*1) Korea Securities Investment 58.3 Together-Korea Government Private Pool Private Securities Investment Trust No.3 (*3) Korea Securities Investment 100.0 INMARK France Private Placement Investment Trust No. 18-1 (*1) Korea Securities Investment 93.8 Kiwoom Vibrato Private Placement Investment Trust 1-W(EUR) (*2) Korea Securities Investment 99.5 KOTAM Global Infra Private Fund 1-4 (*2) Korea Securities Investment 99.7 UBSHana Class 1 Special Asset Investment Trust 3 Class C 2 (*1) Korea Securities Investment 51.0 Consus GyeongJu Green Specialized Private Special Asset Investment Trust 1 (*1) Korea Securities Investment 50.0 Kiwoom Harmony Private Placement Investment Trust No. 3 (*1) Korea Securities Investment 77.4 Consus Solar Energy Private Placement Investment Truns No.1 (*1) Korea Securities Investment 50.0 IGIS ESG General Private Investment Trust No.1 (*1) Korea Securities Investment 60.0 Kiwoom Aurora Geneal Type Private Placement Investment Trust No. 2 (*1) Korea Securities Investment 60.0 NH-Amundi (*1) Korea Securities Investment 65.2 AI Partners Global Infrastructure Specialized Privately Placed Feeder Fund Trust No. 2 (*2) Korea Securities Investment 100.0 Hangang new deal infra BTL fund 4 (HNBF4) (*1) Korea Securities Investment 60.0 Rifa Qualified Investors Private Real Estate Investment Trust No.40 (*2) Korea Securities Investment 55.0 (*1) The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. (*2) The Group does not have power over the fund of funds because the Group cannot decide the relevant activities of the fund through the related contract. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. (*3) The Group does not have power over the stock market stabilization fund as the fund’s relevant activities are determined by the management committee, over which the Group does not have substantial control. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. |
Summarized financial information before elimination of intercompany transactions of the subsidiaries | (4) The summarized financial information of the major subsidiaries are as follows. The financial information of each subsidiary was prepared on the basis of consolidated financial statements. (Unit: Korean Won in millions): As of and for the year ended December 31, 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 As of and for the year ended December 31, 2022 Subsidiaries Assets Liabilities Operating revenue Net income (loss) Comprehensive Woori Bank 443,340,979 417,583,793 38,656,623 2,937,257 2,696,965 Woori Card Co., Ltd. 16,118,967 13,692,456 1,845,296 204,385 199,397 Woori Financial Capital Co., Ltd. 12,581,473 11,040,754 1,323,574 183,328 189,765 Woori Investment Bank Co., Ltd. 5,657,191 4,982,410 406,157 91,794 92,379 Woori Asset Trust Co., Ltd. 322,098 94,573 137,114 60,319 60,316 Woori Savings Bank 1,786,495 1,556,679 110,868 10,607 10,998 Woori Asset Management Corp. 185,389 62,568 35,019 1,259 1,314 Woori Financial F&I Co., Ltd. 336,141 135,562 8,086 867 867 Woori Credit Information Co., Ltd. 42,832 9,240 38,549 1,784 2,083 Woori Fund Service Co., Ltd. 25,094 2,691 16,337 3,917 3,917 Woori Private Equity Asset Management Co., Ltd 94,434 4,672 7,830 1,902 1,872 Woori Global Asset Management Co., Ltd. 34,988 7,090 13,711 211 211 Woori FIS Co., Ltd. 112,117 54,645 296,235 1,069 11,559 Woori Finance Research Institute Co., Ltd. 6,456 2,604 7,006 46 245 |
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 commitments, credit offerings. (unit : Korean Won in millions) 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 offerings and others 220,933 1,095,502 6,325 60,550 Loss recognized on unconsolidated structured entities 183 11,872 71,309 282 (unit : Korean Won in millions) December 31, 2022 Asset Structured Investment Real-estate trust Total asset of the unconsolidated structured entities 14,856,750 82,724,618 132,264,383 1,316,930 Assets recognized in the consolidated financial statements related to the unconsolidated structured entities 8,051,144 5,537,836 4,964,712 40,073 Financial assets at FVTPL 258,552 6,642 4,397,416 10,480 Financial assets at FVTOCI 3,213,331 45,735 — — Financial assets at amortized cost 4,579,261 5,485,336 31,124 29,593 Investments in joint ventures and associates — — 535,427 — Derivative assets — 123 745 — Liabilities recognized in the consolidated financial statements related to the unconsolidated structured entities 824 6,606 2,091 5,760 Derivative liabilities 729 4,975 2,091 — Other liabilities (provisions) 95 1,631 — 5,760 The maximum exposure to risks 8,153,111 6,086,831 9,322,308 92,856 Investment assets 8,051,144 5,537,836 4,964,712 40,073 Purchase commitment — — 4,352,518 — Credit offerings and others 101,967 548,995 5,078 52,783 Loss recognized on unconsolidated structured entities — 17,388 113,976 1,040 |
Accumulated non-controlling interests, net income attributable non-controlling interests and dividends to non-controlling interests | (7) As of December 31, 2021 and 2022, the share of non-controlling non-controlling 1) Accumulated non-controlling December 31, 2021 December 31, 2022 Woori Bank (*) 2,555,166 2,344,816 Woori Investment Bank Co., Ltd. 251,879 283,221 Woori Asset Trust Co., Ltd. 60,726 78,434 Woori Asset Management Corp 33,768 34,073 PT Bank Woori Saudara Indonesia 1906 Tbk 87,741 92,118 Wealth Development Bank 20,835 20,759 PT Woori Finance Indonesia Tbk. — 13,964 (*) Hybrid securities issued by Woori Bank 2) Net income attributable to non-controlling For the years ended December 31 2020 2021 2022 Woori Bank (*) 162,362 144,923 113,995 Woori Financial Capital Co., Ltd. 1,466 17,949 — Woori Investment Bank Co., Ltd. 25,643 33,274 38,319 Woori Asset Trust Co., Ltd. 9,732 11,366 18,074 Woori Asset Management Corp 1,699 2,341 290 PT Bank Woori Saudara Indonesia 1906 Tbk 6,040 8,619 10,806 Wealth Development Bank 1,130 928 401 PT Woori Finance Indonesia Tbk. — — 379 (*) Distribution of the hybrid securities issued by Woori Bank 3) Dividends to non-controlling For the years ended December 31 2020 2021 2022 Woori Bank (*) 162,362 144,923 113,995 Woori Financial Capital Co., Ltd. — 4,121 — Woori Investment Bank Co., Ltd. — 3,610 7,219 Woori Asset Trust Co., Ltd. 365 365 365 PT Bank Woori Saudara Indonesia 1906 Tbk 1,669 1,262 2,330 (*) 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, 2022 | |
Accounting policies [Abstract] | |
Summary of impact on balance sheet as a result of adoption of IFRS 7 | a) Impact on the statements of financial position December 31, 2022 December 31, 2021 January 1, 2021 Increase in cash and cash equivalents 22,965,162 13,047,255 7,352,253 Decrease in loans and other financial assets at amortized cost (22,965,162 ) (13,047,255 ) (7,352,253 ) |
Summary of impact on cash flow statement as a result of adoption of ifrs 7 | b) Impact on the statements of cash flow December 31, 2022 December 31, 2021 Increase in cash flows from operating activities 9,981,310 5,600,710 Increase in exchange rate changes on cash and cash equivalents denominated in foreign currencies (63,403 ) 94,292 Net increase in cash and cash equivalents 9,981,310 5,600,710 Increase in cash and cash equivalents, the beginning of the year 13,047,255 7,352,253 Increase in cash and cash equivalents, the end of the year 22,965,162 13,047,255 |
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 26 to 57 years Structures in leased office 4 to 5 years Properties for business purpose 4 to 7 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, 2022 | |
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 (loan receivables, payment guarantees) that are subject to loan deferment and interest deferment, total loans that changed its stage from 12-month December 31, 2021 December 31, 2022 Total loans (loan receivables, payment guarantees) that are subject to loan deferment and interest deferment Corporate 2,428,496 1,960,524 Retail 167,146 216,487 Total 2,595,642 2,177,011 Total loans changed its stage from 12-month Corporate 2,125,492 1,777,108 Retail 134,920 169,851 Total 2,260,412 1,946,959 The expected credit loss allowances that are additionally recognized Corporate 275,057 312,371 Retail 9,657 12,643 Total 284,714 325,014 |
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 and 2022, the monetary effect of the provision for expected credit loss due to the application of the forecast of future economic conditions overlay is as follows. (Unit: Korean Won in millions): December 31, 2021 December 31, 2022 Corporate 48,583 347,801 Retail 6,237 16,256 Total 54,820 364,057 |
Risk Management (Tables)
Risk Management (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of risk management [Abstract] | |
Probability weights applied to the scenarios of the forecasts of macroeconomic variables | As of December 31, 2022, 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 52.57 12.52 34.91 |
Disclosure in tabular form of macroeconomic forecasts for the forthcoming financial year | As of December 31, 2022, the forecasts of major macroeconomic variables by scenario is as follows (Unit: %) Basic Scenario Upside Scenario Downside Scenario GDP growth rate 1.70 1.89 1.36 Personal consumption expenditures price index rate 2.70 3.11 1.97 Consumer price index change rate 3.60 3.39 3.97 |
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, 2021 and 2022 are as follows (Unit: Korean Won in millions): 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 change rate Increase by 1% point (29,469 ) Decrease by 1% point 34,352 December 31, 2022 Corporate Personal consumption expenditures price index rate Increase by 1% point (59,987 ) Decrease by 1% point 68,036 Retail Consumer price index change rate Increase by 1% point (24,164 ) Decrease by 1% point 28,042 (*) The sensitivity of the effect of the GDP growth rate on banks’ ECLs is not significant. |
Maximum exposure to credit risk by customer | The maximum exposure to credit risk as of December 31, 2021 and 2022 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 2,207,893 2,877,685 Banks 24,412,685 21,571,097 Corporates 131,027,256 143,507,852 Consumers 191,237,783 187,804,095 Sub-total 348,885,617 355,760,729 Financial assets at FVTPL (*2) Deposits 65,072 34,995 Debt securities 2,743,239 4,270,532 Loans 667,467 899,228 Derivative assets 4,803,131 8,206,181 Others 1,518 1,505 Sub-total 8,280,427 13,412,441 Financial assets at FVTOCI Debt securities 38,126,977 32,145,758 Securities at amortized cost Debt securities 17,086,274 28,268,516 Derivative assets Derivative assets (Designated for hedging) 106,764 37,786 Off-balance Payment guarantees (*3) 12,987,809 11,921,586 Loan commitments 114,414,462 118,172,070 Sub-total 127,402,271 130,093,656 Total 539,888,330 559,718,886 (*1) Cash and cash equivalents are not included. (*2) Puttable financial instruments are not included. (*3) As of December 31, 2021 and 2022, the financial guarantee amount of 3,960,383 million W W |
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, 2021 Korea China USA UK Japan Others (*) Total Loans and other financial assets at amortized cost 325,947,526 5,620,622 3,742,331 212,821 635,939 12,726,378 348,885,617 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 506,512,905 7,524,621 7,142,157 440,740 752,849 17,515,058 539,888,330 (*) Others consist of financial assets in Indonesia, Hong Kong, Germany, Australia, and other countries. December 31, 2022 Korea China USA UK Japan Others (*) Total Loans and other financial assets at amortized cost 331,572,328 5,188,826 4,721,440 215,174 719,301 13,343,660 355,760,729 Securities at amortized cost 26,883,967 642,089 421,248 16,658 — 304,554 28,268,516 Financial assets at FVTPL 9,272,673 2,607 2,210,580 318,322 168,013 1,440,246 13,412,441 Financial assets at FVTOCI 27,780,323 806,320 2,297,076 1,726 41,421 1,218,892 32,145,758 Derivative assets (Designated for hedging) 37,786 — — — — — 37,786 Off-balance 126,531,020 981,139 380,209 25,644 16,987 2,158,657 130,093,656 Total 522,078,097 7,620,981 10,030,553 577,524 945,722 18,466,009 559,718,886 |
Credit risk exposure by industries | 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, 2021 and 2022 (Unit: Korean Won in millions): 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 32,493,347 4,303,491 185,972,844 20,541,133 348,885,617 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 87,490,064 8,627,849 253,941,506 45,317,099 539,888,330 December 31, 2022 Service Manufacturing Finance and Construction Individuals Others Total Loans and other financial assets at amortized cost 78,173,716 37,013,486 31,485,795 5,613,480 183,167,572 20,306,680 355,760,729 Securities at amortized cost 239,141 — 16,198,175 199,924 — 11,631,276 28,268,516 Financial assets at FVTPL 200,678 184,019 9,776,234 51,244 1,167 3,199,099 13,412,441 Financial assets at FVTOCI 417,877 231,132 22,249,839 48,225 — 9,198,685 32,145,758 Derivative assets (Designated for hedging) — — 37,786 — — — 37,786 Off-balance 18,661,383 22,492,863 10,523,731 3,143,673 69,404,456 5,867,550 130,093,656 Total 97,692,795 59,921,500 90,271,560 9,056,546 252,573,195 50,203,290 559,718,886 |
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, 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 December 31, 2022 Loans and other Financial assets Financial assets Service business Distribution business General retail business 1,157,537 824 6,296 General wholesale business 1,801,361 1,659 — Sub-total 2,958,898 2,483 6,296 Accommodation business 1,434,456 2,228 24,121 Travel business 48,655 — — Art/sports, leisure service 1,780,739 1,012 — Food business 1,520,098 426 — Transportation business 357,940 181 — Education Business 425,779 169 — Others 1,560,457 773 — Sub-total 10,087,022 7,272 30,417 Manufacturing Textile 2,361,092 767 8,898 Metal 1,579,004 191 — Non-metal 796,671 1,529 7,629 Chemical 3,649,189 158 — Electronics 1,409,475 58 — Others 3,280,434 1,287 11,452 Sub-total 13,075,865 3,990 27,979 Total 23,162,887 11,262 58,396 December 31, 2022 Off-balance accounts Total Service business Distribution business General retail business 496,830 1,661,487 General wholesale business 533,368 2,336,388 Sub-total 1,030,198 3,997,875 Accommodation business 161,573 1,622,378 Travel business 16,369 65,024 Art/sports, leisure service 104,065 1,885,816 Food business 179,977 1,700,501 Transportation business 248,801 606,922 Education Business 40,891 466,839 Others 301,343 1,862,573 Sub-total 2,083,217 12,207,928 Manufacturing Textile 1,076,002 3,446,759 Metal 1,225,601 2,804,796 Non-metal 381,014 1,186,843 Chemical 3,627,183 7,276,530 Electronics 1,202,758 2,612,291 Others 2,530,964 5,824,137 Sub-total 10,043,522 23,151,356 Total 12,126,739 35,359,284 < Woori Card Co., Ltd. > 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 December 31, 2022 Loans and other Financial assets at Financial assets at Off-balance Total Accommodation business 5,562 — — 9,762 15,324 Travel business 7,927 — — 15,182 23,109 Aviation 1,072 — — 3,760 4,832 Cosmetics industry 11,364 — — 9,766 21,130 Distribution business 30,904 — — 36,190 67,094 Food industry 134,006 — — 115,695 249,701 Art/sports, leisure service 24,614 — — 41,003 65,617 Total 215,449 — — 231,358 446,807 <Woori Financial Capital Co., Ltd.> 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 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 December 31, 2022 Loans and other Financial assets Financial assets Service business Distribution business General retail business 363,655 — — General wholesale business 266,515 — — Sub-total 630,170 — — Accommodation business 40,237 — — Travel business 5,880 — — Art/sports, leisure service 66,388 — — Food business 228,254 — — Transportation business 367,311 — — Education business 52,652 — — Others 1,997,073 — — Sub-total 3,387,965 — — Manufacturing Textile 15,204 — — Metal 25,274 — — Non-metal 4,067 — — Chemical 14,071 — — Transportation 2,867 — — Electronics 28,202 — — Cosmetics 1,192 — — Others 235,972 — — Sub-total 326,849 — — Total COVID-19 3,714,814 — — Other business Others 5,337,618 21,652 — Total 9,052,432 21,652 — December 31, 2022 Off-balance Total Service business Distribution business General retail business — 363,655 General wholesale business — 266,515 Sub-total — 630,170 Accommodation business — 40,237 Travel business — 5,880 Art/sports, leisure service — 66,388 Food business — 228,254 Transportation business — 367,311 Education business — 52,652 Others 206,191 2,203,264 Sub-total 206,191 3,594,156 Manufacturing Textile — 15,204 Metal — 25,274 Non-metal — 4,067 Chemical — 14,071 Transportation — 2,867 Electronics — 28,202 Cosmetics — 1,192 Others 19,892 255,864 Sub-total 19,892 346,741 Total COVID-19 226,083 3,940,897 Other business Others 347,025 5,706,295 Total 573,108 9,647,192 < Woori Investment Bank Co., Ltd. > 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 December 31, 2022 Loans and other Financial assets at Financial assets at Off-balance Total Accommodation business 19,323 — — — 19,323 Distribution business 10,084 19,774 — — 29,858 Art/sports, leisure service 59,160 — — — 59,160 Total 88,567 19,774 — — 108,341 |
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, 2021 and 2022 is as follows (Unit: Korean Won in millions): December 31, 2021 Stage 1 Stage 2 Stage 3 Total Loss Total, net Above (*1) Less than a (*2) Above (*1) Less than a (*2) Loans and other financial assets at amortized cost 303,317,270 22,734,430 13,270,491 10,190,307 1,332,644 350,845,142 (1,959,525 ) 348,885,617 Korean treasury and government agencies 2,211,798 9 9 — — 2,211,816 (3,923 ) 2,207,893 Banks 23,865,911 492,447 46,373 — 23,509 24,428,240 (15,555 ) 24,412,685 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 358,326,701 22,943,485 13,270,491 10,190,307 1,332,644 406,063,628 (1,976,906 ) 404,098,868 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 loss allowance because loss allowance does not reduce the carrying amount. December 31, 2022 Stage 1 Stage 2 Above appropriate credit rating (*1) Less than a limited credit rating (*2) Above appropriate credit rating (*1) Less than a limited credit rating (*2) Stage 3 Credit impairment model Total Loss allowance Total, net Loans and other financial assets at amortized cost 308,498,799 23,391,187 13,061,081 11,533,632 1,447,967 313,717 358,246,383 (2,485,654 ) 355,760,729 Korean treasury and government agencies 2,879,057 39 — — — — 2,879,096 (1,411 ) 2,877,685 Banks 21,182,445 393,181 2,125 — 18,053 — 21,595,804 (24,707 ) 21,571,097 Corporates 120,407,588 16,680,863 2,556,885 4,429,148 637,187 313,717 145,025,388 (1,517,536 ) 143,507,852 General business 74,939,770 9,291,691 1,754,620 3,083,232 421,659 — 89,490,972 (1,016,039 ) 88,474,933 Small- and medium-sized 34,965,279 6,751,297 754,668 1,257,741 173,818 — 43,902,803 (400,328 ) 43,502,475 Project financing and others 10,502,539 637,875 47,597 88,175 41,710 313,717 11,631,613 (101,169 ) 11,530,444 Consumers 164,029,709 6,317,104 10,502,071 7,104,484 792,727 — 188,746,095 (942,000 ) 187,804,095 Securities at amortized cost 28,276,901 — — — — — 28,276,901 (8,385 ) 28,268,516 Financial assets at FVTOCI (*3) 31,914,193 231,565 — — — — 32,145,758 (11,805 ) 32,145,758 Total 368,689,893 23,622,752 13,061,081 11,533,632 1,447,967 313,717 418,669,042 (2,505,844 ) 416,175,003 December 31, 2022 Collateral value Stage1 Stage2 Stage3 Credit impairment model Total Loans and other financial assets at amortized cost 213,228,740 19,354,919 607,614 313,717 233,504,990 Korean treasury and government agencies 24,276 — — — 24,276 Banks 1,858,595 — — — 1,858,595 Corporates 82,314,488 4,982,087 316,085 313,717 87,926,377 General business 44,465,799 3,390,139 194,597 — 48,050,535 Small- and medium-sized 32,503,289 1,537,173 84,798 — 34,125,260 Project financing and others 5,345,400 54,775 36,690 313,717 5,750,582 Consumers 129,031,381 14,372,832 291,528 — 143,695,742 Securities at amortized cost — — — — — Financial assets at FVTOCI (*3) — — — — — Total 213,228,740 19,354,919 607,614 313,717 233,504,990 (*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 loss allowance because loss allowance does not reduce the carrying amount. |
Credit quality of the payment guarantees and loan commitments | The credit quality of the payment guarantees and loan commitments as of December 31, 2021 and 2022 are as follows (Unit: Korean Won in millions): December 31, 2021 Financial assets Stage 1 Stage 2 Stage3 Total Above appropriate credit rating (*1) Less than a limited credit rating (*2) Above appropriate credit rating (*1) Less than a limited credit rating (*2) Off-balance Payment 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 corporate are BBB- December 31, 2022 Financial assets Stage 1 Stage 2 Stage3 Total Above appropriate credit rating (*1) Less than a limited credit rating (*2) Above appropriate credit rating (*1) Less than a limited credit rating (*2) Off-balance Payment Guarantees 10,790,470 846,997 25,826 245,061 13,232 11,921,586 Loan Commitments 113,169,542 2,610,173 1,638,982 753,139 234 118,172,070 Total 123,960,012 3,457,170 1,664,808 998,200 13,466 130,093,656 (*1) Credit grade of corporates are AAA ~ BBB, and consumers are grades 1 ~ 6. (*2) Credit grade of corporate are BBB- |
Value at risk analysis for trading activities | The minimum, maximum and average VaR of the Bank for the year December 31, 2021 December 31, 2021 For the year ended December 31, 2021 December 31, 2022 For the year ended December 31, 2022 Risk factor Average Maximum Minimum Average Maximum Minimum Interest rate 4,177 4,681 14,017 2,405 11,800 8,847 11,987 4,298 Stock price 2,972 3,637 6,676 1,609 7,055 6,590 12,448 1,806 Foreign currencies 5,904 6,745 13,144 4,747 17,608 14,002 22,251 5,421 Diversification (6,072 ) (7,300 ) (20,006 ) (3,627 ) (17,354 ) (12,725 ) (19,640 ) (4,201 ) Total VaR (*) 6,981 7,763 13,831 5,134 19,109 16,714 27,046 7,324 (*) VaR (Value at Risk): Retention period of 1 day, 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 | ΔEVE and ΔNII calculated on interest risk in banking book(IRRBB) basis for assets and liabilities by subsidiary as of December 31, 2021 and 2022 are as follows(Unit: Korean Won in millions): December 31, 2021 December 31, 2022 Δ EVE (*1) Δ NII (*2) Δ EVE (*1) Δ NII (*2) Woori Bank 920,290 195,186 411,447 448,509 Woori Card Co., Ltd. 126,576 59,114 139,005 185,637 Woori Financial Capital Co., Ltd. 58,794 1,384 43,098 13,814 Woori Investment Bank Co., Ltd. 17,607 5,556 26,311 8,229 Woori Asset Trust Co., Ltd. 820 1,709 1,137 6,736 Woori Asset Management Corp. 1,411 504 913 1,299 Woori Savings Bank 15,175 949 6,618 10,348 Woori Private Equity Asset Management Co., Ltd. 32 59 547 886 Woori Global Asset Management Co., Ltd. 246 143 251 538 Woori Financial F&I Co., Ltd. — — 26,069 219 (*1) ΔEVE: change in Economic Value of Equity (*2) ΔNII: change in Net Interest Income |
Cash flows of principal amounts and interests from interest bearing assets and liabilities by each re-pricing date | At the interest rate re-pricing non-trading December 31, 2021 Within 3 months 4 to 6 months 7 to 9 months 10 to 12 months 1 to 5 years Over 5 years 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 December 31, 2022 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 224,863,400 56,669,335 15,469,920 15,108,779 59,454,649 5,963,926 377,530,009 Financial assets at FVTPL 1,888,996 119,725 1,364 4,670 71,620 13,129 2,099,504 Financial assets at FVTOCI 6,093,805 4,224,460 3,014,625 3,550,982 15,409,527 584,203 32,877,602 Securities at amortized cost 2,749,432 1,806,804 1,768,936 1,427,736 20,126,354 2,100,203 29,979,465 Total 235,595,633 62,820,324 20,254,845 20,092,167 95,062,150 8,661,461 442,486,580 Liability: Deposits due to customers 167,237,029 49,107,093 33,506,265 40,006,233 55,855,781 69,861 345,782,262 Borrowings 14,829,024 4,159,096 1,542,340 1,183,331 6,654,602 472,325 28,840,718 Debentures 9,068,737 4,905,727 4,633,137 4,962,350 19,621,659 3,298,581 46,490,191 Total 191,134,790 58,171,916 39,681,742 46,151,914 82,132,042 3,840,767 421,113,171 |
Foreign currency risk exposure of financial instruments in foreign currency | Financial instruments in foreign currencies exposed to currency risk as of December 31, 2021 and 2022 are as follows (Unit: USD in millions, JPY in millions, CNY in millions, EUR in millions, and Korean Won in millions): December 31, 2021 USD JPY CNY EUR Others Total Foreign currency Korean Won equivalent Foreign currency Korean Won equivalent Foreign currency Korean Won equivalent Foreign currency Korean Won equivalent Korean Won equivalent Korean Won equivalent Asset Cash and cash equivalents 3,176 3,765,800 32,829 338,222 1,236 230,188 94 125,513 971,774 5,431,497 Loans and other financial assets at amortized cost 28,771 34,107,769 147,981 1,504,891 23,733 4,420,551 2,329 3,126,363 5,604,781 48,764,355 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 December 31, 2022 USD JPY CNY EUR Others Total Foreign currency Korean Won equivalent Foreign currency Korean Won equivalent Foreign currency Korean Won equivalent Foreign currency Korean Won equivalent Korean Won equivalent Korean Won equivalent Asset Cash and cash equivalents 9,041 11,457,194 64,824 617,888 1,542 279,779 484 653,870 1,022,909 14,031,640 Loans and other financial assets at amortized cost 24,361 30,872,442 116,298 1,108,529 24,637 4,470,059 2,510 3,391,155 4,952,002 44,794,187 Financial assets at FVTPL 970 1,229,059 25,416 242,260 — — 358 484,172 176,057 2,131,548 Financial assets at FVTOCI 3,307 4,191,383 — — 3,999 725,511 2 2,573 725,271 5,644,738 Securities at amortized cost 576 729,811 — — 3,540 642,214 69 93,250 206,497 1,671,772 Total 38,255 48,479,889 206,538 1,968,677 33,718 6,117,563 3,423 4,625,020 7,082,736 68,273,885 Liability Financial liabilities at FVTPL 415 526,553 26,766 255,128 — — 322 434,590 274,895 1,491,166 Deposits due to customers 24,569 31,135,881 227,260 2,166,196 28,125 5,102,886 2,108 2,847,863 5,008,487 46,261,313 Borrowings 6,894 8,737,229 44,365 422,876 1,023 185,652 431 582,034 2,179,085 12,106,876 Debentures 4,174 5,289,246 — — — — 195 263,187 339,188 5,891,621 Other financial liabilities 3,040 3,852,255 8,685 82,783 4,295 779,233 380 513,285 200,249 5,427,805 Total 39,092 49,541,164 307,076 2,926,983 33,443 6,067,771 3,436 4,640,959 8,001,904 71,178,781 Off-balance 6,698 8,488,374 34,512 328,964 1,141 207,012 787 1,063,680 868,470 10,956,500 |
Conversion to the libor-related interest rates benchmark | The details of Woori Bank’s financial instruments that have not completed the conversion to the LIBOR-related interest rates benchmark at the end of the year are as follows: Non-derivative amount December 31.2022 USD (*1) Total Amount (*2) Interest Rate Provision Non-derivative Financial assets at FVTOCI 514,935 355,247 Financial assets at amortized cost 4,214,876 3,237,567 Total 4,729,811 3,592,814 Non-derivative Financial liabilities at amortized cost 89,326 89,326 Derivatives Interest rate(trading) 26,210,037 26,208,438 Currency(trading) 33,886,969 33,598,769 Interest rate(hedging) 2,344,505 2,344,505 Total 62,441,511 62,151,712 (*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, The Group is in the process of negotiating to add an interest rate alternative clause. |
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, 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 December 31, 2022 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 35,161 — — — — 12,113 47,274 Deposits due to customers 228,890,427 36,851,103 24,091,740 42,652,679 14,999,516 1,522,830 349,008,295 Borrowings 8,969,648 5,734,715 3,210,812 3,156,211 7,457,240 484,909 29,013,535 Debentures 6,348,064 6,841,379 5,211,032 5,214,942 19,621,659 3,298,581 46,535,657 Lease liabilities 68,279 36,724 35,136 29,646 151,379 33,007 354,171 Other financial liabilities 14,409,376 113,049 19,370 20,315 765,870 3,037,563 18,365,543 Total 258,720,955 49,576,970 32,568,090 51,073,793 42,995,664 8,389,003 443,324,475 |
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, 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 December 31, 2022 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 35,161 — — — — 12,113 47,274 Deposits due to customers 242,132,680 41,113,768 24,269,363 29,670,943 10,490,993 56,013 347,733,760 Borrowings 8,969,648 5,734,715 3,210,812 3,156,211 7,457,240 484,909 29,013,535 Debentures 6,348,064 6,841,379 5,211,032 5,214,942 19,621,659 3,298,581 46,535,657 Lease liabilities 68,344 36,729 35,377 29,948 157,361 38,584 366,343 Other financial liabilities 14,409,376 113,049 19,370 20,315 765,870 3,037,563 18,365,543 Total 271,963,273 53,839,640 32,745,954 38,092,359 38,493,123 6,927,763 442,062,112 |
Cash flow of derivative financial liabilities by maturities | The cash flow by the maturity of derivative financial liabilities as of December 31, 2021 and 2022 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, 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 December 31, 2022 Cash flow risk hedge 856 905 915 1,255 50,682 — 54,613 Fair value risk hedge 25,048 16,175 31,974 18,540 118,027 (3,615 ) 206,149 Trading purpose 8,905,125 — — — — — 8,905,125 |
Maturity analysis of off-balance accounts | 4) Maturity analysis of off-balance A payment 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. Loan commitments 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 payment guarantees, such as financial guarantees for debentures issued or loans, unused loan commitments, and other credits, 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, 2021 December 31, 2022 Payment guarantees 12,987,809 11,921,586 Loan commitments 114,414,462 118,172,070 Other commitments 3,427,331 4,602,429 |
Capital adequacy ratio | Details of the Group’s capital adequacy ratio as of December 31, 2021 and 2022 are as follows (Unit: Korean Won in millions): Details December 31, 2021 December 31, 2022 Tier 1 capital 21,994,047 23,757,296 Other Tier 1 capital 3,590,212 4,208,994 Tier 2 capital 3,395,989 3,437,735 Total risk-adjusted capital 28,980,248 31,404,025 Risk-weighted assets for credit risk 171,199,840 182,028,062 Risk-weighted assets for market risk 6,388,428 6,759,527 Risk-weighted assets for operational risk 14,914,801 16,519,885 Total risk-weighted assets 192,503,069 205,307,474 Common Equity Tier 1 ratio 11.43 % 11.57 % Tier 1 capital ratio 13.29 % 13.62 % Total capital ratio 15.05 % 15.30 % |
Operating Segments (Tables)
Operating Segments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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, comprehensive finance 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 customers of Woori Bank and its subsidiaries 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 Financial F&I Co., 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, December 31, Domestic 5,201,838 5,152,033 Foreign 482,930 533,354 Total 5,684,768 5,685,387 (*) Major non-current |
Reconciliation of operating profit loss from segments to consolidated | (2) The composition of each organization’s sect o For the year ended December 31, 2020 Banking Credit card Investment banking Others (*1) Sub-total Other adjustments (*2) Internal adjustments (*3) consolidated adjustments (*4) Total Net Interest income 4,545,155 564,461 78,302 69,188 5,257,106 52,171 692,298 (3,063 ) 5,998,512 Non-interest 1,423,286 3,648 34,497 1,071,852 2,533,283 (19,082 ) (676,483 ) (1,015,284 ) 822,434 Impairment losses due to credit loss (512,008 ) (195,816 ) (4,146 ) (43,660 ) (755,630 ) (808 ) (17,138 ) (10,795 ) (784,371 ) General and administrative expense (3,545,186 ) (207,301 ) (39,039 ) (416,595 ) (4,208,121 ) (2,921 ) — 254,861 (3,956,181 ) Net operating income (expense) 1,911,247 164,992 69,614 680,785 2,826,638 29,360 (1,323 ) (774,281 ) 2,080,394 Share of gain (loss) of associates (6,895 ) — 170 1,255 (5,470 ) (22,047 ) — 128,594 101,077 Other non-operating (50,132 ) (5,569 ) (945 ) (484 ) (57,130 ) 33,895 1,323 (158,308 ) (180,220 ) Non-operating (57,027 ) (5,569 ) (775 ) 771 (62,600 ) 11,848 1,323 (29,714 ) (79,143 ) Net income (expense) before tax 1,854,220 159,423 68,839 681,556 2,764,038 41,208 — (803,995 ) 2,001,251 Tax income (expense) (437,288 ) (39,193 ) (5,902 ) (29,372 ) (511,755 ) 29 — 25,724 (486,002 ) Net income (loss) 1,416,932 120,230 62,937 652,184 2,252,283 41,237 — (778,271 ) 1,515,249 Total assets 374,120,064 11,366,596 4,332,474 31,872,690 421,691,824 5,643,135 — (28,253,942 ) 399,081,017 Investment in associate 3,382,650 — 2,494 21,586,506 24,971,650 10,194 — (23,988,553 ) 993,291 Other assets 370,737,414 11,366,596 4,329,980 10,286,184 396,720,174 5,632,941 — (4,265,389 ) 398,087,726 Total liabilities 348,706,682 9,312,986 3,803,594 9,606,742 371,430,004 4,643,899 — (3,718,731 ) 372,355,172 (*1) 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. (*2) Other segments includes the funds subject to Group’s consolidated not included in the reporting segment. (*3) Internal reconciliation includes the adjustment of deposit insurance premiums of KRW 371,054 million and fund contribution fees of KRW 327,911 million from net interest income expenses to non-interest (*4) Consolidation adjustments include the elimination of KRW 252,922 million of internal transactions between Woori FIS Co., Ltd., the group’s IT service agency, and affiliates, and the removal of KRW 680,375 million of dividends received by the holding company from its subsidiaries. For the year ended December 31, 2021 Banking Credit card Capital Investment banking Others (*1) Sub-total Other adjustments (*2) Internal adjustments (*3) consolidated (*4) Total Net interest income 5,158,078 606,506 315,600 108,321 29,515 6,218,020 9,938 758,559 (796 ) 6,985,721 Non-interest 1,661,903 63,839 95,297 49,419 1,111,422 2,981,880 16,431 (670,230 ) (969,804 ) 1,358,277 Impairment losses due to credit loss (140,574 ) (164,097 ) (122,089 ) (1,885 ) (19,601 ) (448,246 ) — (89,683 ) 1,091 (536,838 ) General and administrative expense (3,606,715 ) (225,175 ) (99,048 ) (51,490 ) (440,601 ) (4,423,029 ) (256 ) — 275,874 (4,147,411 ) Net operating income(expense) 3,072,692 281,073 189,760 104,365 680,735 4,328,625 26,113 (1,354 ) (693,635 ) 3,659,749 Share of gain of associates 60,049 — 1,000 750 4,390 66,189 51 — (4,044 ) 62,196 Other non-operating (19,654 ) (7,936 ) (16,943 ) (660 ) (1,071 ) (46,264 ) 2,956 1,354 7,054 (34,900 ) Non-operating 40,395 (7,936 ) (15,943 ) 90 3,319 19,925 3,007 1,354 3,010 27,296 Net income(expense) before tax 3,113,087 273,137 173,817 104,455 684,054 4,348,550 29,120 — (690,625 ) 3,687,045 Tax expense (773,073 ) (72,411 ) (33,238 ) (24,531 ) (16,799 ) (920,052 ) — — (4,714 ) (924,766 ) Net income(loss) 2,340,014 200,726 140,579 79,924 667,255 3,428,498 29,120 — (695,339 ) 2,762,279 Total assets 415,976,627 14,116,832 10,259,868 5,159,742 25,627,649 471,140,718 1,101,162 — (25,058,009 ) 447,183,871 Investment in associate 858,706 — 12,403 8,846 22,165,895 23,045,850 35,134 — (21,745,817 ) 1,335,167 Other assets 415,117,921 14,116,832 10,247,465 5,150,896 3,461,754 448,094,868 1,066,028 — (3,312,192 ) 445,848,704 Total liabilities 391,360,200 11,858,065 9,073,104 4,559,856 3,284,269 420,135,494 54,595 — (1,811,321 ) 418,378,768 (*1) Other segments include gains and losses from Woori Financial Group Inc., Woori Asset Trust Co., Ltd., Woori Savings Bank, Woori Asset Management Corp., Woori Financial F&I Co., Ltd., Woori Credit Information Co., Ltd., Woori Fund Service Co., Ltd., Woori Private Equity Asset Management Co., Ltd., Woori Global Asset Management Co., Ltd., Woori FIS Co., Ltd. and Woori Finance Research Institute. (*2) Other segments includes the funds subject to Group’s consolidated not included in the reporting segment. (*3) Internal reconciliation includes the adjustment of deposit insurance premiums of KRW 406,276 million and fund contribution fees of KRW 367,961 million from net interest income expenses to non-interest (*4) Consolidation adjustments include the elimination of KRW 274,768 million of internal transactions between Woori FIS Co., Ltd., the group’s IT service agency, and affiliates, and the removal of KRW 692,605 million of dividends received by the holding company from its subsidiaries. For the year ended December 31, 2022 Banking Credit card Capital Investment banking Others (*1) Sub-total Other adjustments Internal adjustments Consolidated Adjustments (*4) Total Net interest income 6,603,834 675,250 376,133 117,867 73,800 7,846,884 34,307 817,543 (2,155 ) 8,696,579 Non-interest 1,520,576 110,888 83,428 82,885 1,750,203 3,547,980 17,498 (761,029 ) (1,655,342 ) 1,149,107 Impairment losses due to credit loss (426,552 ) (238,607 ) (107,906 ) (16,491 ) (38,319 ) (827,875 ) — (57,992 ) 595 (885,272 ) General and administrative expense (3,914,672 ) (262,525 ) (99,872 ) (61,631 ) (493,502 ) (4,832,202 ) (409 ) — 302,721 (4,529,890 ) Net operating income(expense) 3,783,186 285,006 251,783 122,630 1,292,182 5,734,787 51,396 (1,478 ) (1,354,181 ) 4,430,524 Share of gain of associates 73,958 — 1,430 334 2,173 77,895 (182 ) — (7,717 ) 69,996 Other non-operating 67,759 (6,373 ) (1,835 ) (1,399 ) (2,386 ) 55,766 2,371 1,478 (12,565 ) 47,050 Non-operating 141,717 (6,373 ) (405 ) (1,065 ) (213 ) 133,661 2,189 1,478 (20,282 ) 117,046 Net income(expense) before tax 3,924,903 278,633 251,378 121,565 1,291,969 5,868,448 53,585 — (1,374,463 ) 4,547,570 Tax expense (976,402 ) (73,869 ) (68,050 ) (29,771 ) (26,739 ) (1,174,831 ) — — (3,665 ) (1,178,496 ) Net income(loss) 2,948,501 204,764 183,328 91,794 1,265,230 4,693,617 53,585 — (1,378,128 ) 3,369,074 Total assets 443,340,979 16,118,967 12,581,473 5,657,191 28,059,619 505,758,229 2,019,322 — (27,303,155 ) 480,474,396 Investment in associate 917,581 — 40,987 6,548 22,427,853 23,392,969 29,658 — (22,116,991 ) 1,305,636 Other assets 442,423,398 16,118,967 12,540,486 5,650,643 5,631,766 482,365,260 1,989,664 — (5,186,164 ) 479,168,760 Total liabilities 417,583,793 13,692,456 11,040,754 4,982,410 4,146,997 451,446,410 50,762 — (2,650,118 ) 448,847,054 (*1) Other segments include gains and losses from Woori Financial Group Inc., Woori Asset Trust Co., Ltd., Woori Savings Bank, Woori Asset Management Corp., Woori Financial F&I Co., Ltd., Woori Credit Information Co., Ltd., Woori Fund Service Co., Ltd., Woori Private Equity Asset Management Co., Ltd., Woori Global Asset Management Co., Ltd., Woori FIS Co., Ltd. and Woori Finance Research Institute. (*2) Other segments includes the funds subject to Group’s consolidated not included in the reporting segment. (*3) Internal reconciliation includes the adjustment of deposit insurance premiums of KRW 423,834 million and fund contribution fees of KRW 402,057 million from net interest income expenses to non-interest (*4) Consolidation adjustments include the elimination of KRW 300,297 million of internal transactions between Woori FIS Co., Ltd., the group’s IT service agency, and affiliates, and the removal of KRW 1,272,393 million of dividends received by the holding company from its subsidiaries. |
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, 2020, 2021 and 2022 are as follows (Unit: Korean Won in millions): For the years ended December 31 Details 2020 2021 2022 Domestic 1,869,516 3,288,341 3,835,809 Foreign 210,878 371,408 594,715 Total 2,080,394 3,659,749 4,430,524 |
Statements of cash flows (Table
Statements of cash flows (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 1,742,449 1,771,316 Foreign currencies 503,205 628,590 Demand deposits 18,208,784 31,729,228 Fixed deposits 158,635 90,014 Total 20,613,073 34,219,148 |
Summary of restricted cash and cash equivalents | (2) Details of restricted cash and cash equivalents are as follows (Unit: Korean Won in millions) Counterparty December 31, Reason of restriction Due from banks in local currency: Due from BOK on demand BOK 9,619,055 Reserve deposits under the BOK Act Due from banks in foreign currencies: Due from banks on demand BOK and others 3,428,200 Reserve deposits under the BOK Act and others Total 13,047,255 Counterparty December 31, Reason of restriction Due from banks in local currency: Due from BOK on demand BOK 16,527,445 Reserve deposits under the BOK Act Due from banks in foreign currencies: Due from banks on demand BOK and others 6,437,717 Reserve deposits under the BOK Act and others Total 22,965,162 |
Summary of Significant transactions of investing activities and financing activities not involving cash inflows and outflows | (3) 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 2020 2021 2022 Changes in other comprehensive income related to valuation of financial assets at FVTOCI 59,360 (150,327 ) (493,871 ) Changes in other comprehensive income related to valuation of assets of associate (2,298 ) 1,526 612 Changes in other comprehensive income related to valuation profit or loss on cash flow hedge 4,420 7,107 (9,835 ) Changes in financial assets measure at FVTOCI due to debt-for-equity 3,575 79 14,594 Changes in the investment assets of associates due to the transfer of assets held-for-sale (50,411 ) (52 ) — Changes in financial assets at FVTPL and assets held-for-sale (2,385 ) — — Changes in the property, plant and equipment due to the transfer of assets held-for-sale — (12,852 ) (13,109 ) Transfer of investment properties and premises and equipment 30,431 6,095 7,153 Changes in account payables related to premises and equipment — — 281 Changes in account payables related to intangible assets (11,639 ) (11,640 ) (11,530 ) Changes in right-of-use 222,587 150,644 194,236 Comprehensive stock exchange — 64,301 — Changes in other comprehensive income related to foreign operation translation (153,472 ) 246,808 32,536 |
Summary of Adjustments of liabilities from financing activities | (4) 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, 2021 Beginning Cash flow Not involving cash inflows and outflows Ending Foreign Variation of 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 W For the year ended December 31, 2022 Beginning Cash flow Not involving cash inflows and outflows Ending Foreign Variation of Others(*) Borrowings 24,755,459 2,881,675 760,918 — 31,551 28,429,603 Debentures 44,653,864 (484,874 ) 297,861 (257,910 ) (10,455 ) 44,198,486 Lease liabilities 343,213 (187,531 ) 4,645 — 158,834 319,161 Other liabilities 26,907 513 — — (36 ) 27,384 Total 69,779,443 2,209,783 1,063,424 (257,910 ) 179,894 72,974,634 (*) The change in lease liabilities due to the new contract includes 235,215 million W |
Financial Assets at FVTPL (Tabl
Financial Assets at FVTPL (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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, 2021 and 2022 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 13,497,234 19,860,573 |
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, 2021 and 2022 are as follows (Unit: Korean Won in millions): December 31, December 31, Deposits: Gold banking asset 65,072 34,995 Securities: Debt securities Korean treasury and government agencies 995,713 2,754,442 Financial institutions 925,474 620,311 Corporates 751,636 721,573 Others 70,416 174,206 Equity securities 329,864 383,883 Capital contributions 1,287,723 1,976,474 Beneficiary certificates 3,504,547 3,902,762 Others 94,673 143,334 Sub-total 7,960,046 10,676,985 Loans 667,467 899,228 Derivatives assets 4,803,131 8,206,181 Other financial assets 1,518 43,184 Total 13,497,234 19,860,573 |
Financial Assets at FVTOCI (Tab
Financial Assets at FVTOCI (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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, 2021 and 2022 are as follows (Unit: Korean Won in millions): December 31, December 31, Debt securities: Korean treasury and government agencies 4,728,085 5,487,983 Financial institutions 22,909,615 16,870,619 Corporates 5,091,035 4,044,446 Bond denominated in foreign currencies 5,299,707 5,644,684 Securities loaned 98,535 98,026 Sub-total 38,126,977 32,145,758 Equity securities 992,812 939,322 Total 39,119,789 33,085,080 |
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, 2021 and 2022 are as follows (Unit: Korean Won in millions): Purpose of acquisition December 31, December 31, Purpose of acquisition Investment for strategic business partnership purpose 796,835 776,199 Debt-equity swap 195,971 157,216 Others 6 5,907 Insurance for mutual aid association etc. Total 992,812 939,322 |
Changes in allowance for credit losses of financial assets at FVTOCI | (3) Changes in the loss allowance 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, 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 loss allowance (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 loss allowance (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. For the year ended December 31, 2022 Stage 1 Stage 2 Stage 3 Total Beginning balance (12,146 ) — — (12,146 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Reversal of loss allowance 827 — — 827 Disposal 714 — — 714 Others (*) (1,200 ) — — (1,200 ) Ending balance (11,805 ) — — (11,805 ) (*) 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, 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. For the year ended December 31, 2022 Stage 1 Stage 2 Stage 3 Total Beginning balance 38,126,977 — — 38,126,977 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Acquisition 16,108,426 — — 16,108,426 Disposal / Recovery (21,670,160 ) — — (21,670,160 ) Gain (loss) on valuation (669,936 ) — — (669,936 ) Amortization based on effective interest method 41,813 — — 41,813 Others (*) 208,638 — — 208,638 Ending balance 32,145,758 — — 32,145,758 (*) Others consist of foreign currencies translation, etc. |
Securities at Amortized Cost (T
Securities at Amortized Cost (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of securities at amortised cost [Abstract] | |
Details of securities at amortized cost | (1) Details of securities at amortized cost as of December 31, 2021 and 2022 are as follows (Unit: Korean Won in millions): December 31, December 31, Korean treasury and government agencies 8,882,500 10,083,951 Financial institutions 1,835,947 10,283,631 Corporates 5,818,646 6,237,547 Bond denominated in foreign currencies 554,416 1,671,772 Allowance for credit losses (5,235 ) (8,385 ) Total 17,086,274 28,268,516 |
Changes in allowance for credit losses of securities at amortized cost | (2) Changes in the loss allowance and gross carrying amount of securities at amortized cost are as follows (Unit: Korean Won in millions): 1) Loss allowance For the year ended December 31, 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 loss allowance 934 — — 934 Others (*) 11 — — 11 Ending balance (4,566 ) — — (4,566 ) (*) Changes due to 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 reversal of loss allowance (664 ) — — (664 ) Others (*) (5 ) — — (5 ) Ending balance (5,235 ) — — (5,235 ) (*) Changes due to foreign currencies translation, etc. For the year ended December 31, 2022 Stage 1 Stage 2 Stage 3 Total Beginning balance (5,235 ) — — (5,235 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net provision of loss allowance (3,151 ) — — (3,151 ) Others (*) 1 — — 1 Ending balance (8,385 ) — — (8,385 ) (*) Changes due to foreign currencies translation, etc. |
Changes in gross carrying amount of securities at amortized cost | 2) Gross carrying amount 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 (*) Changes due to 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 (*) Changes due to foreign currencies translation, etc. For the year ended December 31, 2022 Stage 1 Stage 2 Stage 3 Total Beginning balance 17,091,509 — — 17,091,509 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Acquisition 16,873,194 — — 16,873,194 Disposal / Recovery (5,871,234 ) — — (5,871,234 ) Amortization based on effective interest method 86,212 — — 86,212 Others (*) 97,220 — — 97,220 Ending balance 28,276,901 — — 28,276,901 (*) Changes due to foreign currencies translation, etc. |
Loans and other financial ass_2
Loans and other financial assets at amortized cost (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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, 2021 and 2022 are as follows (Unit: Korean Won in millions): December 31, December 31, Due from banks 2,866,884 2,994,672 Loans 336,799,510 343,918,560 Other financial assets 9,219,223 8,847,497 Total 348,885,617 355,760,729 |
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”) 600,000 160,000 Due from depository banks 159,264 170,006 Due from non-depository 14,146 183 Due from the Korea Exchange 54 2,440 Others 191,501 421,318 Loss allowance (2,452 ) (116 ) Sub-total 962,513 753,831 Due from banks in foreign currencies: Due from banks on demand 194,781 199,671 Due from banks on time 205,351 466,963 Others 1,507,821 1,586,408 Loss allowance (3,582 ) (12,201 ) Sub-total 1,904,371 2,240,841 Total 2,866,884 2,994,672 |
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 600,000 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 675,951 Due from banks in foreign currencies: Due from banks on demand The BOK and others 128,492 Reserve deposits under the BOK Act and others Foreign currency deposits on time National Bank Cambodia 237 Reserve deposits and others Others Korea Investment & Securities and others 1,502,474 Overseas futures and options trade deposits and others Sub-total 1,631,203 Total 2,307,154 Counterparty December 31, Reason of restriction Due from banks in local currency: Due from BOK BOK 160,000 Reserve deposits under BOK Act Due from KSFC The Korea Securities Finance Corporation 2,419 Customer deposits return reserve Others Korea Exchange and others 223,705 Korean Won CCP margin and others Sub-total 386,124 Due from banks in foreign currencies: Due from banks on demand BOK and others 193,507 Reserve deposits under BOK Act and others Due from banks on time National Bank Cambodia 253 Reserve deposits and others Others Korea Investment & Securities and others 1,581,298 Overseas futures and options trade deposits and others Sub-total 1,775,058 Total 2,161,182 |
Changes in allowance for credit losses of due from banks | (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, 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 ) (*) Changes due to 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 ) (*) Changes due to foreign currencies translation, etc For the year ended December 31, 2022 Stage 1 Stage 2 Stage 3 Total Beginning balance (6,034 ) — — (6,034 ) Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Provision of allowance for credit losses (7,702 ) — — (7,702 ) Others (*) 1,419 — — 1,419 Ending balance (12,317 ) — — (12,317 ) (*) Changes due to foreign currencies translation, etc |
Changes in gross carrying amount of due from banks | 2) Gross carrying amount For the year ended December 31, 2020 Stage 1 Stage 2 Stage 3 Total Beginning balance 3,135,940 — — 3,135,940 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net decrease (750,163 ) — — (750,163 ) Business combination 129,825 — — 129,825 Others (*) (329 ) — — (329 ) Ending balance 2,515,273 — — 2,515,273 (*) Changes due to foreign currencies translation, etc For the year ended December 31, 2021 Stage 1 Stage 2 Stage 3 Total Beginning balance 2,515,273 — — 2,515,273 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net increase 282,987 — — 282,987 Others (*) 74,658 — — 74,658 Ending balance 2,872,918 — — 2,872,918 (*) Changes due to foreign currencies translation, etc For the year ended December 31, 2022 Stage 1 Stage 2 Stage 3 Total Beginning balance 2,872,918 — — 2,872,918 Transfer to 12-month — — — — Transfer to lifetime expected credit losses — — — — Transfer to credit-impaired financial assets — — — — Net increase 166,693 — — 166,693 Others (*) (32,622 ) — — (32,622 ) Ending balance 3,006,989 — — 3,006,989 (*) Changes due to foreign currencies translation, etc |
Details of loans | (5) Details of loans are as follows (Unit: Korean Won in millions): December 31, 2021 December 31, 2022 Loans in local currency 273,283,542 282,686,620 Loans in foreign currencies 24,508,250 26,988,360 Domestic banker’s usance 3,403,021 2,877,079 Credit card accounts 9,757,115 10,370,362 Bills bought in foreign currencies 5,310,080 3,650,792 Bills bought in local currency 265,275 533,879 Factoring receivables 17,406 25,469 Advances for customers on guarantees 26,766 25,698 Private placement bonds 519,150 485,519 Securitized loans 2,874,480 2,990,937 Call loans 3,481,219 3,626,226 Bonds purchased under resale agreements 10,332,858 6,849,038 Financial lease receivables 1,173,751 1,467,858 Installment financial bond 2,882,396 2,832,972 Others 159 140 Loan origination costs and fees 858,051 852,002 Discounted present value (7,299 ) (10,238 ) Allowance for credit losses (1,886,710 ) (2,334,153 ) Total 336,799,510 343,918,560 |
Changes in allowance for credit losses of loans | (6) Changes in the loss allowance of loans are as follows (Unit: Korean Won in millions): 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 Changes due to business combinations (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 loss allowance 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 Changes due to business combinations — — — (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 loss allowance (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 loss allowance 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 ) For the year ended December 31, 2022 Consumers Corporates Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Credit Beginning balance (136,520 ) (97,604 ) (206,617 ) (362,766 ) (576,740 ) (251,233 ) — Transfer to 12-month (21,684 ) 21,210 474 (74,402 ) 68,546 5,856 — Transfer to lifetime expected credit losses 10,211 (11,568 ) 1,357 18,678 (21,502 ) 2,824 — Transfer to credit-impaired financial assets 3,960 8,975 (12,935 ) 2,217 12,769 (14,986 ) — Net reversal(provision) of allowance for credit losses (734 ) (49,398 ) (156,286 ) (22,646 ) (303,198 ) (107,038 ) (27 ) Recovery — — (70,077 ) — — (55,743 ) — Charge-off 161,850 140,744 — Disposal — 62 21,862 280 128 — Interest income from impaired loans — — 11,805 — — 9,576 — Others (4,350 ) (495 ) (948 ) (479 ) (84 ) (97 ) — Changes due to business combinations 1,241 729 7,573 (14,503 ) 1,847 (9,090 ) — Ending balance (147,876 ) (128,089 ) (241,942 ) (453,621 ) (818,234 ) (241,465 ) (27 ) For the year ended December 31, 2022 Credit card accounts Total Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Credit Beginning balance (68,814 ) (115,489 ) (70,927 ) (568,100 ) (789,833 ) (528,777 ) — Transfer to 12-month (31,360 ) 31,284 76 (127,446 ) 121,040 6,406 — Transfer to lifetime expected credit losses 7,576 (7,694 ) 118 36,465 (40,764 ) 4,299 — Transfer to credit-impaired financial assets 642 2,190 (2,832 ) 6,819 23,934 (30,753 ) — Net reversal(provision) of allowance for credit losses 20,820 (38,105 ) (204,569 ) (2,560 ) (390,701 ) (467,893 ) (27 ) Recovery — — (53,988 ) — — (179,808 ) — Charge-off — — 220,280 — — 522,874 — Disposal — — 7,896 280 190 67,480 — Interest income from impaired loans — — — — Others — (4,829 ) (579 ) (1,045 ) — Changes due to business combinations (3 ) — — (13,265 ) 2,576 (1,517 ) — Ending balance (71,139 ) (127,814 ) (103,946 ) (672,636 ) (1,074,137 ) (587,353 ) (27 ) |
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, 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 ) Changes due to business combinations 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 Changes due to business combinations — — — 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 For the year ended December 31, 2022 Consumers Corporates Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Credit Beginning balance 135,139,685 13,500,783 499,969 170,795,255 8,458,279 541,732 — Transfer to 12-month expected credit losses 4,651,157 (4,637,460 ) (13,697 ) 1,784,684 (1,768,655 ) (16,029 ) — Transfer to lifetime expected credit losses (6,284,951 ) 6,303,526 (18,575 ) (3,773,713 ) 3,792,473 (18,760 ) — Transfer to credit-impaired financial assets (157,808 ) (102,097 ) 259,905 (242,421 ) (123,225 ) 365,646 — Charge-off — — (161,850 ) — — (140,744 ) — Disposal — (259 ) (57,052 ) (48,472 ) (391 ) (134,732 ) — Net increase (decrease) (2,077,449 ) (1,046,885 ) 47,727 11,005,551 (873,200 ) 28,198 313,717 Changes due to business combinations 57,743 2,974 7,630 31,551 1,016 687 — Ending balance 131,328,377 14,020,582 564,057 179,552,435 313,717 For the year ended December 31, 2022 Credit card accounts Total Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 Credit Beginning balance 8,239,303 1,395,139 116,075 314,174,243 23,354,201 1,157,776 — Transfer to 12-month expected credit 542,021 (541,913 ) (108 ) 6,977,862 (6,948,028 ) (29,834 ) — Transfer to lifetime expected credit losses (403,398 ) 403,598 (200 ) (10,462,062 ) 10,499,597 (37,535 ) — Transfer to credit-impaired financial assets (31,780 ) (21,244 ) 53,024 (432,009 ) (246,566 ) 678,575 — Charge-off — — (220,280 ) — — (522,874 ) — Disposal — — (17,082 ) (48,472 ) (650 ) (208,866 ) — Net increase (decrease) 769,314 (169,200 ) 247,981 9,697,416 (2,089,285 ) 323,906 313,717 Changes due to business combinations — — — 89,294 3,990 8,317 — Ending balance 179,410 319,996,272 24,573,259 1,369,465 313,717 |
Details of other financial assets | (8) Details of other financial assets are as follows (Unit: Korean Won in millions): December 31, 2021 December 31, 2022 Cash Management Account asset (CMA asset) 140,000 157,000 Receivables 6,852,139 5,438,469 Accrued income 1,049,857 1,667,397 Telex and telephone subscription rights and refundable deposits 870,707 801,536 Domestic exchange settlement debit 82,555 577,919 Other assets (*) 290,746 344,356 Allowance for credit losses (66,781 ) (139,180 ) Total 9,219,223 8,847,497 (*) The Group became aware of employee embezzlement incidents that occurred before the end of April 2022, and the Financial Supervisory Service conducted on-site |
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, 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 Changes due to 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 loss allowance 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 ) For the year ended December 31, 2022 Stage 1 Stage 2 Stage 3 Total Beginning balance (3,675 ) (5,580 ) (57,526 ) (66,781 ) Transfer to 12-month (261 ) 246 15 — Transfer to lifetime expected credit losses 209 (225 ) 16 — Transfer to credit-impaired financial assets 981 1,134 (2,115 ) — Reversal (provision) of loss allowance (1,749 ) (4,707 ) (6,329 ) (12,785 ) Charge-off — — 2,223 2,223 Disposal — — 751 751 Others 317 (1 ) (62,904 ) (62,588 ) Ending balance (4,178 ) (9,133 ) (125,869 ) (139,180 ) |
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, 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 ) Changes due to 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 For the year ended December 31, 2022 Stage 1 Stage 2 Stage 3 Total Beginning balance 9,004,539 106,597 174,868 9,286,004 Transfer to 12-month 9,765 (9,749 ) (16 ) — Transfer to lifetime expected credit losses (38,248 ) 38,265 (17 ) — Transfer to credit-impaired financial assets (1,484 ) (2,824 ) 4,308 — Charge-off — — 24 24 Disposal (5 ) — (917 ) (922 ) Net increase (decrease) (88,214 ) (110,835 ) (99,748 ) (298,797 ) Changes due to business combinations 368 — — 368 Ending balance 8,886,721 21,454 78,502 8,986,677 |
Fair value of financial asset_2
Fair value of financial assets and liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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, 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 (Designated for hedging) — 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 (Designated for hedging) — 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. December 31, 2022 Level 1 (*) Level 2 (*) Level 3 Total Financial assets: Financial assets at FVTPL Deposits 34,995 — — 34,995 Debt securities 2,580,563 1,654,591 1,078 4,236,232 Equity securities 76,007 25 307,851 383,883 Capital contributions — — 1,976,474 1,976,474 Beneficiary certificates 45,394 2,398,592 1,458,776 3,902,762 Loans — 794,723 104,505 899,228 Derivative assets 69,316 8,042,895 93,970 8,206,181 Other financial assets in foreign currency — — 41,679 41,679 Others 34,299 — 144,840 179,139 Sub-total 2,840,574 12,890,826 4,129,173 19,860,573 Financial assets at FVTOCI Debt securities 9,895,456 22,250,302 — 32,145,758 Equity securities 382,257 — 557,065 939,322 Sub-total 10,277,713 22,250,302 557,065 33,085,080 Derivative assets (designated for hedging) — 37,786 — 37,786 Total 13,118,287 35,178,914 4,686,238 52,983,439 Financial liabilities: Financial liabilities at FVTPL Deposits due to customers 35,161 — — 35,161 Derivative liabilities 11,700 8,883,976 9,449 8,905,125 Securities sold 12,113 — — 12,113 Sub-total 58,974 8,883,976 9,449 8,952,399 Derivative liabilities (designated for hedging) — 202,911 — 202,911 Total 58,974 9,086,887 9,449 9,155,310 (*) Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 |
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, 2021 and 2022 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. Values of underlying assets such as bond 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, volatility, 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, 2021 and 2022 are as follows: Valuation methods Input variables Loans Fair value is calculated by using Binomial Tree, LSMC and Discounted Cash Flow Model which is a valuation technique commonly used in the market taking into account value of underlying assets, volatility, discount rate. Value of underlying assets Volatility, Discount rate Debt securities 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 debt securities issuers. Fair value is measured by models such as LSMC (Least-Squares Monte Carlo), Hull-white. Risk-free market rate, credit spread, discount rate originated credit grade, volatility of stock price, volatility of interest 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, Imputed Market Value Model 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, discount rate originated credit grade, stock prices, volatility of underlying asset, net asset value, volatility of stock price, volatility of interest rate, Capital increase amount, Fluctuation rate of real estate sale price, etc 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, volatility, etc. Others The fair value of the underlying asset, after calculating the fair value using the DCF model, etc., considering the price and volatility of the calculated underlying asset, is calculated using the binomial tree and least-squares Monte Carlo simulation (LSMC), which are commonly used valuation techniques in the market. 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: Fair value Type Significant Range(%) Impact of changes in significant Loans Binomial Tree Stock prices 46.53% Variation of fair value increases as volatility of underlying asset and stock price increases. DCF model Discount rate 1.98%~2.18% Fair value decreases as discount rate increases. Derivative assets Option valuation model and others Equity related Correlation coefficient 0.21~0.67 Variation of fair value increases as correlation coefficient increases. Derivative liabilities Option valuation model and others Equity related Correlation coefficient 0.21~0.67 Variation of fair value increases as correlation coefficient increases. Volatility of underlying asset 11.74% ~ 97.16% Variation of fair value increases as volatility of underlying assets increases. Equity securities, capital contributions, and beneficiary certificates Binomial Tree Stock prices, Volatility of underlying asset 28.40% Variation of fair value increases as volatility of underlying asset and stock price increases. DCF model and others Discount rate 0.00%~19.14% Fair value increases as discount rate decreases. Terminal growth rate 0.00%, 1.00% Fair value increases as terminal growth rate increases. Liquidation value 0.00% Fair value increases as liquidation value increases. Others Binomial Tree Stock prices, Volatility of underlying asset 20.15%~36.19% Variation of fair value increases as volatility of underlying asset and stock price increases. |
Changes in financial assets and liabilities measured at fair value classified into Level 3 | (3) Changes in financial assets and liabilities measured at fair value classified into Level 3 are as follows (Unit: Korean Won in millions): For the year ended December 31, 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. For the year ended December 31, 2022 Beginning Net (*1) Other Purchases/ issuances Disposals / settlements Transfer to or (*2) Ending Financial assets: Financial assets at FVTPL Debt securities 2,117 (40 ) — — (999 ) — 1,078 Equity securities 303,985 697 — 20,175 (16,974 ) (32 ) 307,851 Capital contributions 1,287,723 103,376 — 703,160 (117,785 ) — 1,976,474 Beneficiary certificates 1,104,074 (2,922 ) — 98,420 259,204 — 1,458,776 Loans 213,635 17,544 — 802,092 (928,766 ) — 104,505 Derivative assets 29,348 64,359 — 582 (319 ) — 93,970 Other foreign currency financial assets — — — 41,679 — — 41,679 Others 96,191 16,744 — 40,836 (8,931 ) — 144,840 Sub-total 3,037,073 199,758 — 1,706,944 (814,570 ) (32 ) 4,129,173 Financial assets at FVTOCI Equity securities 581,455 — 2,084 2,357 (28,831 ) — 557,065 Total 3,618,528 199,758 2,084 1,709,301 (843,401 ) (32 ) 4,686,238 Financial liabilities: Financial liabilities at FVTPL Derivative liabilities 4,641 8,058 — (351 ) (2,899 ) — 9,449 Total 4,641 8,058 — (351 ) (2,899 ) — 9,449 (*1) For financial liabilities, positive numbers represent losses that increase balance and negative numbers represent gains that decrease balance. The gain amounting to 2,770 million Won for the year ended December 31, 2022, 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, 2020, 2021 and 2022 is as follows (Unit: Korean Won in millions): December 31, 2020 Net income 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 (-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 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 (-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%. December 31, 2022 Net income Other comprehensive income (loss) Favorable Unfavorable Favorable Unfavorable Financial assets: Financial assets at FVTPL Derivative assets (*1) 2,453 (1,993 ) — — Loans (*2) 203 (200 ) — — Debt securities 1 — — — Equity securities (*2)(*3)(*4) 10,146 (8,079 ) — — Beneficiary certificates (*4) 737 (737 ) — — Others (*2) 2,860 (2,790 ) — — Financial assets at FVTOCI — — — — Equity securities (*3)(*4) — — 24,370 (17,579 ) Total 16,400 (13,799 ) 24,370 (17,579 ) Financial liabilities: Financial liabilities at FVTPL Derivative liabilities (*1) 41 (39 ) — — Total 41 (39 ) — — (*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, 2021 Fair value Carrying amount 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 — 3 346,871,245 346,871,248 348,885,617 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 December 31, 2022 Fair value Carrying amount Level 1 Level 2 Level 3 Total Financial assets: Securities at amortized cost 2,652,449 24,623,369 — 27,275,818 28,268,516 Loans and other financial assets at amortized cost — 6,238,724 345,952,544 352,191,268 355,760,729 Financial liabilities: Deposits due to customers — 343,931,576 — 343,931,576 342,105,209 Borrowings — 26,063,256 2,135,047 28,198,303 28,429,603 Debentures — 42,918,411 — 42,918,411 44,198,486 Other financial liabilities — 21,244,664 536,209 21,780,873 22,492,705 |
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, 2021 Financial assets Financial Financial Financial Derivatives Total Deposits 65,072 — 2,866,884 — 2,931,956 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 39,119,789 365,971,891 106,764 418,695,678 December 31, 2021 Financial liabilities Financial Financial 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 December 31, 2022 Financial assets Financial Financial Financial Derivatives Total Deposits 34,995 — 2,994,672 — 3,029,667 Securities 10,676,985 33,085,080 28,268,516 — 72,030,581 Loans 899,228 — 343,918,560 — 344,817,788 Derivative assets 8,206,181 — — 37,786 8,243,967 Other financial assets 43,184 — 8,847,497 — 8,890,681 Total 19,860,573 33,085,080 384,029,245 37,786 437,012,684 December 31, 2022 Financial liabilities Financial Financial Derivatives Total Deposits due to customers 35,161 342,105,209 — 342,140,370 Borrowings 12,113 28,429,603 — 28,441,716 Debentures — 44,198,486 — 44,198,486 Derivative liabilities 8,905,125 — 202,911 9,108,036 Other financial liabilities — 22,492,707 — 22,492,707 Total 8,952,399 437,226,005 202,911 446,381,315 |
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, 2020, 2021 and 2022 are as follows (Unit: Korean Won in millions): For the year ended December 31, 2020 Interest Fees and 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 Reversal 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 For the year ended December 31, 2022 Interest Fees and Reversal Gain or Dividends, Total Financial assets at FVTPL 106,698 (134 ) — 238,502 136,136 481,202 Financial assets at FVTOCI 632,615 1,606 827 (21,498 ) 23,846 637,396 Securities at amortized cost 515,246 — (3,151 ) — — 512,095 Loans and other financial assets at amortized cost 13,399,990 600,902 (881,668 ) 74,204 — 13,193,428 Financial liabilities at amortized cost (5,950,277 ) 2,094 — — — (5,948,183 ) Net derivatives (designated for hedging) — — — 78,822 — 78,822 Total 8,704,272 604,468 (883,992 ) 370,030 159,982 8,954,760 |
Derecognition And Offset Of F_2
Derecognition And Offset Of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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, 2021 December 31, 2022 Assets transferred Financial assets at FVTPL 248,009 214,577 Financial assets at FVTOCI 127,065 583,198 Securities at amortized cost 38,995 1,171,300 Total 414,069 1,969,075 Related liabilities Bonds sold under repurchase agreements 749,976 1,898,744 |
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 amount 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 98,535 98,027 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, 2021 and 2022, 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, 2021 December 31, 2022 Carrying amount (*) Carrying amount (*) Assets transferred Financial assets at FVPL 151,930 49,808 Loans at amortized cost 4,682,882 4,640,182 Related liabilities Asset-backed borrowings 2,424,080 231,800 Asset-backed bonds 978,274 1,209,364 (*) 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, 2021 and 2022, 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, 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. December 31, 2022 Gross Gross Net amounts of Related amounts not setoff Net amounts Netting Cash Financial assets: Derivative assets (*1) 7,032,465 — 7,032,465 9,175,416 748,981 1,616,779 Receivable spot exchange (*2) 4,508,711 — 4,508,711 Bonds purchased under resale agreements (*2) 6,793,938 — 6,793,938 6,793,938 — — Domestic exchange settlement debits (*2)(*5) 39,787,371 39,209,452 577,919 — — 577,919 Total 58,122,485 39,209,452 18,913,033 15,969,354 748,981 2,194,698 Financial liabilities: Derivative liabilities (*1) 7,652,440 — 7,652,440 10,043,092 145,268 1,972,695 Payable spot exchange (*3) 4,508,615 — 4,508,615 Bonds sold under repurchase agreements (*4) 2,313,044 — 2,313,044 2,313,044 — — Domestic exchange settlement credits (*3)(*5) 43,841,373 39,209,452 4,631,921 2,504,062 — 2,127,859 Total 58,315,472 39,209,452 19,106,020 14,860,198 145,268 4,100,554 (*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, 2022 | |
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 (*4) Main business December 31, December 31, Location Financial Woori Bank W Service Networks Co., Ltd. (*1) Freight & staffing services 4.9 4.9 Korea 2022.11.30 (*5) Korea Credit Bureau Co., Ltd. (*2) Credit information 9.9 9.9 Korea 2022.12.31 Korea Finance Security Co., Ltd. (*1) Security service 15.0 15.0 Korea 2022.11.30 (*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 — Reading Doctors Co., Ltd. (*3)(*11) Other services 35.4 — Korea — Cultizm Korea LTD Co., Ltd. (*3)(*11) Wholesale and retail sales 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 2022.12.31 2016KIF-IMM Other financial services 20.0 20.0 Korea 2022.12.31 K BANK Co., Ltd. (*2) Finance 12.6 12.6 Korea 2022.12.31 Woori Bank-Company K Korea Movie Asset Fund (*9) Other financial services 25.0 25.0 Korea 2022.12.31 Partner One Value Up I Private Equity Fund Other financial services 23.3 23.3 Korea 2022.12.31 IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership Other financial services 20.0 20.0 Korea 2022.12.31 Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund Other financial services 25.0 25.0 Korea 2022.12.31 LOTTE CARD Co., Ltd. Credit card and installment financing 20.0 20.0 Korea 2022.9.30 (*5) Together-Korea Government Private Pool Private Securities Investment Trust No. 3 Other financial services 100.0 100.0 Korea 2022.12.31 Genesis Environmental Energy Company 1st Private Equity Fund (*8) Trust and collective investment 24.8 — Korea — Union Technology Finance Investment Association Trust and collective investment 29.7 29.7 Korea 2022.12.31 Dicustody Co., Ltd. (*2) Other information technology and computer operation related services 1.0 1.0 Korea 2022.12.31 Orient Shipyard Co., Ltd. (*3) Manufacture of sections for ships — 22.7 Korea 2022.12.31 Joongang Network Solution Co.,Ltd. (*3) Other information technology — 25.3 Korea — BTS 2nd Private Equity Fund Other financial services — 20.0 Korea 2022.12.31 STASSETS FUND III Other financial services — 28.3 Korea 2022.12.31 Woori Bank (*6) Japanese Hotel Real Estate Private Equity Fund No.2 Other financial services 19.9 19.9 Korea 2022.12.31 Woori Seoul Beltway Private Special Asset Fund No.1 Trust and collective investment 25.0 25.0 Korea 2022.12.31 Woori Multi-Return Securities Investment Trust 3(Balanced Bond) (*8) Collective investment business 20.0 — Korea — Percentage of ownership (%) Joint ventures and associates (*4) Main business December 31, December 31, Location Financial Woori Short-term Bond Securities Investment Trust(Bond) ClassC-F Collective investment business 14.5 27.9 Korea 2022.12.31 Woori Safe Plus General Type Private Investment Trust S-8(Bond) Collective investment business — 9.2 Korea 2022.12.31 Woori Financial Capital Co., Ltd. WOORI TAERIM 1st Fund Other financial services 25.6 25.6 Korea 2022.12.31 Portone-Cape Fund No.1 Other financial services 20.0 20.0 Korea 2022.12.31 KIWOOM WOORI Financial 1st Fund (*7) Other financial services 9.1 9.1 Korea 2022.12.31 DeepDive WOORI 2021-1 (*7) Other financial services 11.9 11.9 Korea 2022.12.31 Darwin Green Packaging Private Equity Fund Other financial services 20.4 20.4 Korea 2022.12.31 DS Power Semicon Private Equity Fund Other financial services — 21.0 Korea 2022.12.31 Koreawide partners 2nd Private Equity Fund Other financial services — 26.7 Korea 2022.12.31 Woori Investment Bank Co., Ltd. (*6) Woori FirstValue Private Real Estate Fund No.2 Real estate business 12.0 12.0 Korea 2022.12.31 WooriG Real Infrastructure Blind General Type Private Placement Investment Trust Investment trust and discretionary investment business 0.3 0.1 Korea 2022.12.31 Woori Asset Management Co. Ltd. Woori BIG2 Plus Securities Investment Trust(Balanced Bond) (*12) Collective investment business — 23.1 Korea 2022.12.31 Woori Together TDF 2025 (*12) Collective investment business — 23.6 Korea 2022.12.31 Woori Together TDF 2030 (*12) Collective investment business — 23.8 Korea 2022.12.31 Woori Star50 feeder fund(H) (*12) Collective investment business — 17.9 Korea 2022.12.31 Woori Private Equity Asset Management Co., Ltd. Woori Hanhwa Eureka Private Equity Fund (*10) Other financial services 0.8 — Korea — Aarden Woori Apparel 1st Private Equity Fund (*2) Other financial services 0.5 0.5 Korea 2022.12.31 Woori Dyno 1st Private Equity Fund (*2) Other financial services — 19.6 Korea 2022.12.31 Australia Green Energy 1st PEF (*2) Other financial services — 4.0 Korea 2022.12.31 Japanese Hotel Real Estate Private Equity Fund 1 Godo Kaisha Oceanos 1 Other financial services 47.8 47.8 Japan 2022.10.31 (*5) Woori G Japan Private Placement Real Estate Master Investment Trust No.2 Woori Zip 1 Other financial services 63.9 64.0 Japan 2022.9.30 (*5) Woori Zip 2 Other financial services 63.8 64.0 Japan 2022.9.30 (*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 29.7 29.8 Korea — G2 Collection Co., Ltd. (*3) Wholesale and retail sales 29.2 29.2 Korea — The Base Enterprise Co., Ltd. (*3)(*11) Manufacturing 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)(*11) Complex transportation brokerage 49.8 — Korea — DAEA SNC Co., Ltd. (*3) Wholesale and retail sales 25.5 25.5 Korea — Force TEC Co., Ltd. Manufacturing 24.5 24.5 Korea 2022.9.30 (*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 — Percentage of ownership (%) Joint ventures and associates (*4) Main business December 31, December 31, Location Financial KUM HWA Co., Ltd. Telecommunication equipment retail sales 20.1 20.1 Korea 2022.09.30 (*5) Jinmyung Plus Co., Ltd. Manufacturing 21.3 21.3 Korea 2022.09.30 (*5) Woori bank and Woori Financial Capital Co., Ltd. (*6) JC Assurance No.2 Private Equity Fund Other financial services 24.4 23.5 Korea 2022.09.30 (*5) Dream Company Growth no.1 PEF Other financial services 27.8 27.8 Korea 2022.12.31 HMS-Oriens 1st Fund Other financial services 22.8 22.8 Korea 2022.12.31 Woori G Senior Loan Private Placement Investment Trust No.1 Collective investment business 21.7 21.7 Korea 2022.12.31 Genesis Eco No.1 Private Equity Fund Other financial services 29.0 29.0 Korea 2022.12.31 Paratus Woori Material Component Equipment joint venture company Other financial services 29.9 29.9 Korea 2022.12.31 Midas No. 8 Private Equity Joint Venture Company Other financial services 28.5 28.5 Korea 2022.12.31 Orchestra Private Equity Fund IV Other financial services — 28.2 Korea 2022.12.31 Synaptic Green No.1 PEF Other financial services — 21.1 Korea 2022.12.31 IGEN2022No. 1 Private Equity Fund Other financial services — 24.8 Korea 2022.12.31 Woori Bank and Woori Investment Bank Co., Ltd. (*6) PCC-Woori Other financial services 38.8 38.8 Korea 2022.12.31 Woori bank and Woori Asset Management Co., Ltd. (*6) Woori High Plus Short-term High Graded ESG Bond Sec Feeder Inv Trust 1 (*10) Collective investment business 27.5 — Korea — Woori Bank and Woori Private Equity Asset Management Co., Ltd. (*6) Woori-Q Other financial services 38.1 35.6 Korea 2022.12.31 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 2022.12.31 (*1) Most of the significant business transactions of associates are with the Group as of December 31, 2022 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, 2022 and 2021. (*4) Woori G Oncorp Corporate support of Major Industry General Type Private Placement Investment Trust (Type 2) and other 13 joint ventures and associates can exercise significant influence but was classified as an item measured at fair value through profit or loss. (*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 the reporting period 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) It was excluded due to liquidation. (*9) It was dissoluted and will be liquidated. (*10) It was excluded from associates during the period. (*11) It was excluded as Woori Bank sold its shares during the period. (*12) It was reclassified to associate from subsidiary resulted from the loss of control along with the changes in percentage of ownership. |
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, 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 For the year ended December 31, 2020 Acquisition January 1, Share of Acquisition Disposal/ Dividends Business Change in December 31, 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 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 1st Fund 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 ) — — — 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 For the year ended December 31, 2021 Acquisition January 1, Share of Acquisition Disposal/ Dividends Change in December 31, 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) — — — — — — — — Jinmyung Plus 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 1st Fund 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 Trust 1 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 W (*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 W For the year ended December 31, 2022 Acquisition January 1, Share of Acquisition Disposal/ Dividends Change in December 31, W Service Networks Co., Ltd. 108 183 29 — — (4 ) — 208 Korea Credit Bureau Co., Ltd. 3,313 9,423 (3,714 ) — — — — 5,709 Korea Finance Security Co., Ltd. 3,267 3,101 (727 ) — — — — 2,374 Woori Growth Partnerships New Technology Private Equity Fund 12,942 12,448 490 — (2,049 ) — — 10,889 2016KIF-IMM 7,594 12,630 (1,619 ) — (801 ) (736 ) — 9,474 K BANK Co., Ltd. 236,232 239,493 11,854 — — — (3,558 ) 247,789 Woori Bank-Company K Korea Movie Asset Fund — 345 71 — — (177 ) — 239 Partner One Value Up I Private Equity Fund 5,039 6,576 (2,298 ) — — — — 4,278 IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 7,556 11,153 1,312 — (2,180 ) — — 10,285 Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 4,355 4,254 1 100 — — — 4,355 LOTTE CARD Co.,Ltd. 346,810 458,295 58,400 — — (12,960 ) 10,396 514,131 Together-Korea Government Private Pool Private Securities Investment Trust No. 3 10,000 10,070 173 — — — — 10,243 Genesis Environmental Energy Company 1st Private Equity Fund — 4,126 (41 ) — (3,738 ) (347 ) — — Union Technology Finance Investment Association 14,637 12,388 187 2,250 (363 ) — — 14,462 Dicustody Co., Ltd. 1 1 — — — — — 1 Orient Shipyard Co., Ltd. — — — — — — — — BTS 2nd Private Equity Fund 3,026 — (145 ) 3,026 — — — 2,881 STASSETS FUND III 1,500 — (270 ) 1,500 — — — 1,230 Japanese Hotel Real Estate Private Equity Fund No.2 3,174 3,196 194 — — (299 ) (236 ) 2,855 Woori Seoul Beltway Private Special Asset Fund No.1 9,791 7,551 246 2,312 — (235 ) — 9,874 Woori Multi-Return Securities Investment Trust 3 (Balanced Bond) — 10,023 — — (9,950 ) (73 ) — — Woori Short-term Bond Securities Investment Trust(Bond) ClassC-F 110,000 151,822 2,312 50,000 (90,137 ) (1,972 ) — 112,025 Woori Safe Plus General Type Private Investment Trust S-8(Bond) 10,000 — 230 10,000 — (48 ) — 10,182 WOORI TAERIM 1st Fund 1,100 991 (3 ) — — — — 988 Portone-Cape Fund No.1 340 489 (25 ) — — — — 464 KIWOOM WOORI Financial 1st Investment Fund 1,000 973 (20 ) — — — — 953 DeepDive WOORI 2021-1 900 993 (12 ) — (100 ) (3 ) — 878 Darwin Green Packaging Private Equity Fund 4,000 3,957 388 — — (400 ) — 3,945 DS Power Semicon Private Equity Fund 3,000 — 245 3,000 — (269 ) — 2,976 Koreawide partners 2nd Private Equity Fund 20,000 — — 20,000 — — — 20,000 Woori FirstValue Private Real Estate Fund No.2 9,000 763 (6 ) — (199 ) — — 558 For the year ended December 31, 2022 Acquisition January 1, Share of Acquisition Disposal/ Dividends Change in December 31, WooriG Real Infrastructure Blind General Type Private Placement Investment Trust 100 100 2 — — — — 102 Woori BIG2 Plus Securities Investment Trust(Balanced Bond) 1,200 — (161 ) — 1,235 — — 1,074 Woori Together TDF 2025 2,000 — (202 ) — 2,192 — — 1,990 Woori Together TDF 2030 2,000 — (214 ) — 2,247 — — 2,033 WOORI Star50 feeder fund(H) 200 — (5 ) — 131 — — 126 Woori Hanhwa Eureka Private Equity Fund — 327 (48 ) — (164 ) (115 ) — — Aarden Woori Apparel 1st Private Equity Fund 100 99 (2 ) — — — — 97 Woori Dyno 1st Private Equity Fund 2,000 — (6 ) 2,000 — — — 1,994 Australia Green Energy 1st PEF 4,913 — (55 ) 4,913 — — — 4,858 Godo Kaisha Oceanos 1 10,800 9,905 84 — — (1,049 ) (152 ) 8,788 Woori Zip 1 9,254 10,496 (138 ) — (873 ) — (795 ) 8,690 Woori Zip 2 12,928 14,732 (127 ) — (1,309 ) — (1,116 ) 12,180 Force TEC Co., Ltd. (*) — — 56 — — — (56 ) — KUM HWA Co., Ltd. (*) — — — — — — — — Jinmyung Plus Co., Ltd. — — 10 — — — — 10 JC Assurance No.2 Private Equity Fund 29,349 17,728 (17,728 ) — — — — — Dream Company Growth no.1 PEF 7,412 7,914 418 — — (471 ) — 7,861 HMS-Oriens 1st Fund 12,000 12,007 1,245 — — — — 13,252 WooriG Senior Loan General Type Private Investment Trust No.1 80,268 88,029 3,788 14,073 (20,322 ) (3,707 ) — 81,861 Genesis Eco No.1 Private Equity Fund 12,000 11,120 (99 ) 195 — — — 11,216 Paratus Woori Material Component Equipment joint venture company 17,700 17,493 (243 ) — — — — 17,250 Midas No. 8 Private Equity Joint Venture Company 18,735 18,968 275 — — (530 ) — 18,713 Orchestra Private Equity Fund IV 9,878 — 197 10,000 (122 ) (377 ) — 9,698 Synaptic Green No.1 PEF 8,000 — (207 ) 8,000 — — — 7,793 IGEN2022No. 1 Private Equity Fund 7,822 — 650 8,000 (475 ) (165 ) — 8,010 PCC-Woori 10,440 12,350 674 3,440 (3,480 ) — — 12,984 Woori High Plus Short-term High Graded ESG Bond Sec Feeder Inv Trust 1 — 73,787 — — (73,598 ) (189 ) — — Woori-Q 27,063 46,155 (288 ) 536 (18,867 ) — — 27,536 Woori-Shinyoung Growth-Cap 17,018 28,713 14,561 — — — — 43,274 1,131,865 1,335,167 69,689 143,345 (222,922 ) (24,126 ) 4,483 1,305,636 (*) As a result of discontinuation of the equity method, related companies’ losses amount not recognized is 665 million Won for Force TEC Co., Ltd. 3,743 million Won for Orient Shipyard Co., Ltd. and 0.2 million Won for KUM HWA Co., Ltd. and cumulated amount is 1,462 million Won for Force TEC Co., Ltd. 3,743 million Won for Orient Shipyard 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, 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 2 16,104 14 911 1,196 (373 ) 823 Woori Seoul Beltway Private Special Asset Fund No.1 30,206 1 536 500 — 500 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 ) December 31, 2021 Assets Liabilities Operating Net (loss) Other Total 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 ) Jinmyung Plus 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 1st Fund 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 December 31, 2022 Assets Liabilities Operating Net (loss) Other Total W Service Networks Co., Ltd. 7,052 2,825 19,697 1,215 — 1,215 Korea Credit Bureau Co., Ltd. 155,165 100,065 144,907 13,809 — 13,809 Korea Finance Security Co., Ltd. 28,792 12,964 47,043 (3,856 ) — (3,856 ) Woori Growth Partnerships New Technology Private Equity Fund 47,394 208 2,978 2,185 — 2,185 2016KIF-IMM 47,979 609 665 (7,839 ) — (7,839 ) K BANK Co., Ltd. 16,694,289 14,896,426 491,880 91,059 (32,156 ) 58,903 Woori Bank-Company K Korea Movie Asset Fund (*1) 989 33 462 324 — 324 Partner One Value Up I Private Equity Fund 18,395 — (9,431 ) (9,831 ) — (9,831 ) IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 51,804 385 8,092 7,288 — 7,288 December 31, 2022 Assets Liabilities Operating Net (loss) Other Total Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 15,811 95 1 (383 ) — (383 ) LOTTE CARD Co., Ltd. (*2) 19,983,059 17,179,093 1,925,577 268,096 43,162 311,258 Together-Korea Government Private Pool Private Securities Investment Trust No. 3 10,246 1 218 170 — 170 Union Technology Finance Investment Association 48,991 299 2,300 632 — 632 Dicustody Co., Ltd. 95 — — (3 ) — (3 ) Orient Shipyard Co., Ltd. 10,832 27,225 — (16,467 ) — (16,467 ) BTS 2nd Private Equity Fund 15,012 608 1 (725 ) — (725 ) STASSETS FUND III 4,660 313 37 (953 ) — (953 ) Japanese Hotel Real Estate Private Equity Fund 2 14,387 13 1,050 968 (1,186 ) (218 ) Woori Seoul Beltway Private Special Asset Fund No.1 39,497 2 1,028 984 — 984 Woori Short-term Bond Securities Investment Trust(Bond) ClassC-F 468,357 67,022 14,189 11,804 — 11,804 Woori Safe Plus General Type Private Investment Trust S-8(Bond) 115,781 4,508 1,899 1,763 — 1,763 WOORI TAERIM 1st Fund 4,047 185 — (13 ) — (13 ) Portone-Cape Fund No.1 2,344 26 — (129 ) — (129 ) KIWOOM WOORI Financial 1st Investment Fund 10,597 111 1 (222 ) — (222 ) DeepDive WOORI 2021-1 7,412 37 57 (103 ) — (103 ) Darwin Green Packaging Private Equity Fund 19,332 — 2,215 1,904 — 1,904 DS Power Semicon Private Equity Fund 14,230 44 1,185 937 — 937 Koreawide partners 2nd Private Equity Fund 77,039 2,038 3,020 1 — 1 Woori FirstValue Private Real Estate Fund No.2 67,005 62,357 3 (54 ) — (54 ) WooriG Real Infrastructure Blind General Type Private Placement Investment Trust 73,064 56 3,140 2,874 — 2,874 Woori BIG2 Plus Securities Investment Trust(Balanced Bond) 4,667 12 389 (636 ) — (636 ) Woori Together TDF 2025 8,513 16 1,287 (1,018 ) — (1,018 ) Woori Together TDF 2030 8,615 — 1,352 (1,108 ) — (1,108 ) WOORI Star50 feeder fund(H) 709 — 48 (480 ) — (480 ) Aarden Woori Apparel 1st Private Equity Fund 20,750 89 8 (325 ) — (325 ) Woori Dyno 1st Private Equity Fund 10,212 43 200 (31 ) — (31 ) Australia Green Energy 1st PEF 122,634 14 30 (1,380 ) — (1,380 ) Godo Kaisha Oceanos 1 63,741 45,358 2,942 176 — 176 Woori Zip 1 48,309 34,346 2,085 (215 ) — (215 ) Woori Zip 2 68,388 48,927 3,069 (198 ) — (198 ) Force TEC Co., Ltd. 10,489 24,804 25,182 (2,664 ) — (2,664 ) KUM HWA Co., Ltd. 4 159 — (8 ) — (8 ) Jinmyung Plus Co.,Ltd. 696 649 177 (9 ) — (9 ) December 31, 2022 Assets Liabilities Operating Net (loss) Other Total JC Assurance No.2 Private Equity Fund 122,015 3 — (929 ) — (929 ) Dream Company Growth no.1 PEF 28,351 50 1,695 1,506 — 1,506 HMS-Oriens 1st Fund 58,095 6 3,829 3,279 — 3,279 Woori G Senior Loan Private Placement Investment Trust No.1 378,145 23 18,584 17,496 — 17,496 Genesis Eco No.1 Private Equity Fund 38,700 5 48 (593 ) — (593 ) Paratus Woori Material Component Equipment joint venture company 58,311 617 7 (812 ) — (812 ) Midas No. 8 Private Equity Joint Venture Company 65,936 242 1,928 977 — 977 Orchestra Private Equity Fund IV 34,427 — 1,580 878 — 878 Synaptic Green No.1 PEF 37,017 — 4 (983 ) — (983 ) IGEN2022No. 1 Private Equity Fund 32,362 122 3,166 2,616 — 2,616 PCC-Woori 33,591 168 6,127 1,152 — 1,152 Woori-Q 75,973 418 3,019 (4,696 ) — (4,696 ) Woori-Shinyoung Growth-Cap 123,824 312 41,780 40,544 — 40,544 (*1) It was dissoluted for the year ended December 31,2021 and will be liquidated. (*2) 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 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 December 31, 2022 Associate (*) Number of shares owned Ownership (%) CL Tech Co., Ltd. 10,191 28.6 (*) 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 |
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, 2020, 2021 and 2022, the reconciliations from the net assets of the associates to the carrying amount of the shares of the investment in joint ventures and associates are as follows (Unit: Korean Won in millions except for ownership): 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 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 December 31, 2020 Total net Ownership Ownership Basis Impairment Intercompany Book value 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 1st Fund 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 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 Ist 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 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 December 31, 2021 Total net Ownership Ownership Basis Impairment Intercompany Book value 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 — Jinmyung Plus 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 1st Fund 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 December 31, 2022 Total net Ownership Ownership Basis Impairment Intercompany Book value W Service Networks Co., Ltd. 4,227 4.9 209 — — (1 ) 208 Korea Credit Bureau Co., Ltd. 55,100 9.9 5,462 246 — 1 5,709 Korea Finance Security Co., Ltd. 15,828 15.0 2,374 — — — 2,374 Woori Growth Partnerships New Technology Private Equity Fund 47,185 23.1 10,889 — — — 10,889 2016KIF-IMM 47,370 20.0 9,474 — — — 9,474 December 31, 2022 Total net Ownership Ownership Basis Impairment Intercompany Book value K BANK Co., Ltd. (*) 1,796,269 12.6 225,894 21,894 — 1 247,789 Woori Bank-Company K Korea Movie Asset Fund 957 25.0 239 — — — 239 Partner One Value Up Ist Private Equity Fund 18,395 23.3 4,278 — — — 4,278 IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 51,419 20.0 10,284 — — 1 10,285 Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 15,716 25.0 3,929 — — 426 4,355 LOTTE CARD Co., Ltd. (*) 2,570,656 20.0 514,131 — — — 514,131 Together-Korea Government Private Pool Private Securities Investment Trust No.3 10,245 100.0 10,244 — — (1 ) 10,243 Union Technology Finance Investment Association 48,692 29.7 14,463 — — (1 ) 14,462 Dicustody Co., Ltd. 95 1.0 1 — — — 1 Orient Shipyard Co., Ltd. (16,393 ) 22.7 (3,721 ) — — 3,721 — BTS 2nd Private Equity Fund 14,405 20.0 2,881 — — — 2,881 STASSETS FUND III 4,347 28.3 1,230 — — — 1,230 Japanese Hotel Real Estate Private Equity Fund No.2 14,374 19.9 2,855 — — — 2,855 Woori Seoul Beltway Private Special Asset Fund No.1 39,495 25.0 9,874 — — — 9,874 Woori Short-term Bond Securities Investment Trust (Bond) ClassC-F 401,335 27.9 112,025 — — — 112,025 Woori Safe Plus General Type Private Investment Trust S-8(Bond) 111,273 9.2 10,182 — — — 10,182 WOORI TAERIM 1st Fund 3,862 25.6 988 — — — 988 Portone-Cape Fund No.1 2,318 20.0 464 — — — 464 KIWOOM WOORI Financial 1st Investment Fund 10,486 9.1 953 — — — 953 DeepDive WOORI 2021-1 7,375 11.9 878 — — — 878 Darwin Green Packaging Private Equity Fund 19,332 20.4 3,945 — — — 3,945 DS Power Semicon Private Equity Fund 14,186 21.0 2,976 — — — 2,976 Koreawide partners 2nd Private Equity Fund 75,001 26.7 20,000 — — — 20,000 Woori FirstValue Private Real Estate Fund No.2 4,648 12.0 558 — — — 558 Woori G Real Infrastructure Blind General Type Private Placement Investment Trust 73,008 0.1 102 — — — 102 Woori BIG2 Plus Securities Investment Trust(Balanced Bond) 4,655 23.1 1,074 — — — 1,074 Woori Together TDF 2025 8,497 23.6 1,990 — — — 1,990 Woori Together TDF 2030 8,615 23.8 2,033 — — — 2,033 WOORI Star50 feeder fund(H) 709 17.9 126 — — — 126 Aarden Woori Apparel 1st Private Equity Fund 20,661 0.5 97 — — — 97 Woori Dyno 1st Private Equity Fund 10,169 19.6 1,994 — — — 1,994 Australia Green Energy 1st PEF 122,620 4.0 4,858 — — — 4,858 Godo Kaisha Oceanos 1 18,383 47.8 8,788 — — — 8,788 Woori Zip 1 13,963 64.0 8,690 — — — 8,690 Woori Zip 2 19,461 64.0 12,180 — — — 12,180 December 31, 2022 Total net Ownership Ownership Basis Impairment Intercompany Book value Force TEC (14,315 ) 24.5 (3,513 ) — — 3,513 — KUM HWA Co., Ltd. (155 ) 20.1 (31 ) — — 31 — Jinmyung Plus Co.,Ltd. 47 21.3 10 — — — 10 JC Assurance No.2 Private Equity Fund 122,012 23.5 17,728 — (17,728 ) — — Dream Company Growth no.1 PEF 28,301 27.8 7,861 — — — 7,861 HMS-Oriens 1st Fund 58,089 22.8 13,252 — — — 13,252 Woori G Senior Loan General Type Private Investment Trust No.1 378,122 21.7 81,861 — — — 81,861 Genesis Eco No.1 Private Equity Fund 38,695 29.0 11,216 — — — 11,216 Paratus Woori Material Component Equipment joint venture company 57,694 29.9 17,250 — — — 17,250 Midas No. 8 Private Equity Joint Venture Company 65,694 28.5 18,713 — — — 18,713 Orchestra Private Equity Fund IV 34,427 28.2 9,698 — — — 9,698 Synaptic Green No.1 PEF 37,017 21.1 7,793 — — — 7,793 IGEN2022No. 1 Private Equity Fund 32,240 24.8 8,010 — — — 8,010 PCC-Woori 33,423 38.8 12,984 — — — 12,984 Woori-Q 75,555 35.6 27,536 — — — 27,536 Woori-Shinyoung Growth-Cap 123,512 35.0 43,274 — — — 43,274 (*) The net asset equity amount is after the debt-for-equity non-controlling |
Investment Properties (Tables)
Investment Properties (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 415,163 418,775 Accumulated depreciation (25,582 ) (30,982 ) Accumulated impairment losses (86 ) (86 ) Net carrying value 389,495 387,707 |
Changes in investment properties | (2) Changes in investment properties are as follows (Unit: Korean Won in millions): For the years ended December 31 2020 2021 2022 Beginning balance 280,239 387,464 389,495 Acquisition 76,588 — — Disposal (353 ) — (1,206 ) Depreciation (2,689 ) (2,809 ) (3,925 ) Transfer 30,431 6,095 7,153 Foreign currencies translation adjustments 267 (1,255 ) (3,810 ) Business combination 10,557 — — Others (7,576 ) — — Ending balance 387,464 389,495 387,707 |
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, 2021 and 2022 are as follows (Unit: Korean Won in millions): December 31, December 31, Lease payments: Within a year 13,769 12,368 More than 1 year and within 2 years 10,770 8,481 More than 2 years and within 3 years 7,743 5,320 More than 3 years and within 4 years 5,009 3,201 More than 4 years and within 5 years 2,953 2,634 More than 5 years 2,603 2,568 Total 42,847 34,572 |
Premises And Equipment (Tables)
Premises And Equipment (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Property Plant And Equipment [Abstract] | |
Details of premises and equipment | (1) Details of premises and equipment as of December 31, 2021 and 2022 are as follows (Unit: Korean Won in millions): 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 December 31, 2022 Land Building Equipment Leasehold Construction Structures Total Premises and equipment (owned) 1,695,357 730,676 261,278 58,352 32,184 — 2,777,847 Right-of-use — 349,494 15,589 — — — 365,083 Carrying value 1,695,357 1,080,170 276,867 58,352 32,184 — 3,142,930 |
Details of premises and equipment owned | (2) Details of premises and equipment (owned) as of December 31, 2021 and 2022 are as follows (Unit: Korean Won in millions): 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 December 31, 2022 Land Building Equipment Leasehold Construction Structures Total Acquisition cost 1,696,017 1,078,385 1,179,928 470,513 32,184 20 4,457,047 Accumulated depreciation — (347,709 ) (918,650 ) (412,161 ) — (20 ) (1,678,540 ) Accumulated impairment losses (660 ) — — — — — (660 ) Net carrying value 1,695,357 730,676 261,278 58,352 32,184 — 2,777,847 |
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, 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 For the year ended December 31, 2022 Land Building Equipment Leasehold Construction Structures Total Beginning balance 1,719,325 756,964 258,361 51,354 3,171 1 2,789,176 Acquisitions 24 14,524 98,620 28,178 31,810 — 173,156 Disposals (20,024 ) (788 ) (1,003 ) (656 ) — — (22,471 ) Depreciation — (32,290 ) (97,600 ) (21,185 ) — (1 ) (151,076 ) Classification of assets held for sale (6,405 ) (6,704 ) — — — — (13,109 ) Transfer (3,040 ) (4,113 ) — — — — (7,153 ) Foreign currencies translation adjustments (855 ) (428 ) 392 549 225 — (117 ) Business combination 5,917 3,523 2,586 — — — 12,026 Others 415 (12 ) (78 ) 112 (3,022 ) — (2,585 ) Ending balance 1,695,357 730,676 261,278 58,352 32,184 — 2,777,847 |
Details of right-of-use assets | (4) Details of right-of-use 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 December 31, 2022 Building Equipment Total Acquisition cost 643,484 32,700 676,184 Accumulated depreciation (293,990 ) (17,111 ) (311,101 ) Net carrying value 349,494 15,589 365,083 |
Changes in right-of-use assets | (5) Details of changes in right-of-use 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 For the year ended December 31, 2022 Building Equipment Total Beginning balance 367,480 18,064 385,544 New contracts 225,396 9,819 235,215 Changes in contract 3,514 (26 ) 3,488 Termination (43,597 ) (870 ) (44,467 ) Depreciation (211,175 ) (11,406 ) (222,581 ) Business combination 819 — 819 Others 7,057 8 7,065 Ending balance 349,494 15,589 365,083 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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, 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 December 31, 2022 Goodwill Industrial Development Other Membership Construction Total Acquisition cost 397,527 2,219 754,031 1,244,516 46,231 3,027 2,447,551 Accumulated amortization — (1,576 ) (541,404 ) (1,018,591 ) — — (1,561,571 ) Accumulated impairment losses — — — (33,552 ) (3,314 ) — (36,866 ) Net carrying value 397,527 643 212,627 192,373 42,917 3,027 849,114 |
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, 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 W For the year ended December 31, 2022 Goodwill Industrial Development Other Membership Construction Total Beginning balance 345,449 723 207,708 193,182 37,607 717 785,386 Acquisitions — 162 91,992 62,073 6,571 2,421 163,219 Disposal — — — (2 ) (1,295 ) — (1,297 ) Amortization (*) — (242 ) (87,294 ) (75,299 ) — — (162,835 ) Impairment losses — — — — 88 — 88 Transfer — — 300 182 — (482 ) — Business combination 57,670 — — 7,795 — — 65,465 Foreign currencies translation adjustments (5,592 ) — (5 ) (865 ) (42 ) (53 ) (6,557 ) Others — — (74 ) 5,307 (12 ) 424 5,645 Ending balance 397,527 643 212,627 192,373 42,917 3,027 849,114 (*) Amortization of other intangible assets amounting to 14,664 million W |
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, 2021 and 2022 are as follows (Unit: Korean W 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) 99,667 97,029 WOORI BANK (CAMBODIA) PLC (*3) 52,082 55,570 PT Woori Finance Indonesia Tbk. — 51,382 Others 6,854 6,700 Total 345,449 397,527 (*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 WB Discount rate (%) 14.55 13.36 13.47 15.98 16.88 Terminal growth rate (%) 1.00 1.00 1.00 0.00 0.00 Recoverable amount 431,777 162,772 42,083 784,787 544,693 Carrying amount 300,023 134,073 29,917 739,878 499,823 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 WB Finance Discount rate (%) Increase by 1.0% point (39,501 ) (8,680 ) (2,553 ) (61,030 ) (38,845 ) Decrease by 1.0% point 48,345 10,686 3,169 71,658 45,066 Terminal growth rate (%) Increase by 1.0% point 30,344 6,699 2,034 43,855 26,515 Decrease by 1.0% point (*) (25,010 ) (5,464 ) (1,650 ) — — (*) 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, 2022 | |
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 8,900 9,589 Investments of associates 11,472 — Others 5,955 4,183 Total 26,327 13,772 (*) The Group classifies assets as held for sale that are highly likely to be sold within one year from December 31, 202 1 2 |
Assets Subject to Lien and As_2
Assets Subject to Lien and Assets Acquired Through Foreclosures (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Collateral [Abstract] | |
Assets subjected to lien | (1) Assets subjected to lien are as follows (Unit: Korean Won in milli on December 31, 2021 Collateral given to Amount Reason for collateral Financial assets at FVTPL Korean treasury and government bonds, etc Nonghyup bank and others 248,009 Related to bonds sold under repurchase agreements (*) Korean treasury and government bonds, etc Korea Securities Depository 179,079 Securities borrowing collateral Korean treasury and government bonds, etc VI Investment, etc. 3,008 Future trading collateral Korean financial institutions’ debt securities, etc Korea Securities Depository 205,783 Securities borrowing collateral Korean financial institutions’ debt securities, etc KOREA SECURITIES FINANCE CORPORATION 54,419 Collateral for securities lending purposes Korean financial institutions’ debt securities, etc Shinhan Investment Corp. 5,352 Collateral for futures transaction Korean corporate bonds Korea Securities Depository 299,161 Securities borrowing collateral Korean capital contributions Korea Software Financial Cooperative 101 Bid guarantee, etc. Financial assets at FVTOCI Korean treasury and government bonds Korea Securities Depository 470 Related to bonds sold under repurchase agreements (*) Korean financial institutions’ debt securities, etc The BOK and others 3,666,849 Settlement risk and others Foreign financial institutions’ debt securities STANDARD BANK LONDON LTD 126,595 Related to bonds sold under repurchase agreements (*) Securities at amortized cost Korean treasury and government bonds The BOK and others 8,977,748 Settlement risk and others December 31, 2021 Collateral given to Amount Reason for collateral 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 Premises and equipment Land and building Credit Counselling & Recovery Service and others 1,910 Right to collateral and others Investment properties 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. December 31, 2022 Collateral given to Amount Reason for collateral Financial assets at FVTPL Korean treasury and government bonds, etc. KOREA SECURITIES FINANCE CORPORATION, etc. 198,377 Related to bonds sold under repurchase agreements (*1) Korean treasury and government bonds, etc. Korea Securities Depository 659,050 Securities borrowing collateral Korean treasury and government bonds, etc. SHINHAN SECURITIES CO, etc. 6,939 Future trading collateral Korean financial institutions’ debt securities, etc. SC FIRST BANK KOREA, SEOUL, etc. 245,876 Variable margin deposit for CSA, etc. Korean financial institutions’ debt securities, etc. SHINHAN ASSET MANAGEMENT, etc. 16,200 Related to bonds sold under repurchase agreements (*1) Korean capital contributions, etc. Korea Software Financial Cooperative 104 Bid guarantee, etc. December 31, 2022 Collateral given to Amount Reason for collateral Financial assets at FVTOCI Korean treasury and government bonds Korea Securities Depository 460 Related to bonds sold under repurchase agreements (*1) Korean financial institutions’ debt securities, etc. The BOK, etc. 6,394,890 Settlement risk, etc. Debt securities in foreign currencies BNP-PARIBAS, etc. 1,060,120 Variable margin deposit for CSA, etc. Debt securities in foreign currencies SC BANK, H.K, etc. 582,738 Related to bonds sold under repurchase agreements (*1) Securities at amortized cost Korean treasury and government bonds Korea Securities Depository 1,100,351 Related to bonds sold under repurchase agreements (*1) Korean treasury and government bonds The BOK, etc. 10,820,136 Settlement risk, etc. Debt securities in foreign currencies NATIXIS, etc. 70,949 Related to bonds sold under repurchase agreements (*1) Debt securities in foreign currencies FHLB ADVANCE, etc. 10,570 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 The Korea Exchange, etc. 133,539 Margin deposit for CCP Other due from banks in foreign currency Korea Investment & Securities, etc. 1,142,784 Overseas futures option deposit, etc. Mortgage loan Public offering 1,892,723 Related to covered bonds Premises and equipment Land and building Gakorea Co., Ltd , etc. 1,851 Right to collateral and others (*2) Investment properties Land and building Gakorea Co., Ltd., etc. 5,365 Right to collateral and others (*2) Total 24,344,522 (*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. (*2) The maximum pledge amount is 522 million Won. |
Assets acquired through foreclosures | (2) As of December 31, 2021 and 2022 there is no asset acquired through foreclosures. December 31, December 31, Investment properties Land 2,185 6,404 Building 181 165 Sub-total 2,366 6,569 Other assets Land for non-business 21,156 21,302 Building for non-business (*1) 1,526 3,049 Movables for non-business (*2) 120 165 Real estate assessment provision for non-business (1,129 ) (1,176 ) Sub-total 21,673 23,340 Assets held for sale Land 2,980 2,351 Building 2,557 1,832 Others 418 — Sub-total 5,955 4,183 Total 29,994 34,092 (*1) The cumulative depreciation amount as of December 31, 2021 and 2022 is 716 million Won and 1,055 million Won, respectively. (*2) The cumulative depreciation amount as of December 31, 2021 and 2022 is 907 million Won and 882 million Won, respectively. |
Schedule of securities loaned | (3) Securities loaned are as follows (Unit: Korean Won in millions): December 31, 2021 December 31, Loaned to Financial assets at FVTOCI Korean treasury and government bonds 98,535 98,027 Korea Securities Finance Corporation |
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, 2021 Fair values of collaterals Fair values of collaterals were disposed re-subjected Securities 10,785,412 — December 31, 2022 Fair values of collaterals Fair values of collaterals were disposed re-subjected Securities 7,109,933 — |
Other Assets (Tables)
Other Assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 1,782,887 2,593,578 Prepaid expenses 189,808 287,323 Advance payments 61,042 99,772 Non-operational 16,248 23,340 Others 38,965 57,539 Total 2,088,950 3,061,552 |
Financial Liabilities at FVTPL
Financial Liabilities at FVTPL (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 4,873,458 8,952,399 Total 4,873,458 8,952,399 |
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 65,016 35,161 Borrowings Securities sold 241,174 12,113 Derivative liabilities 4,567,268 8,905,125 Total 4,873,458 8,952,399 |
Deposits Due to Customers (Tabl
Deposits Due to Customers (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 18,029,136 15,627,300 Deposits at termination 254,319,473 270,092,855 Mutual installment 24,620 22,995 Deposits on notes payables 2,954,066 3,675,596 Deposits on CMA 92,360 60,079 Certificate of deposits 3,586,423 5,255,889 Other deposits 1,286,719 1,196,486 Sub-total 280,292,797 295,931,200 Deposits in foreign currencies: Deposits in foreign currencies 37,643,900 46,263,943 Present value discount (36,826 ) (92,352 ) Sub-total 37,607,074 46,171,591 Customers’ deposits for beneficiary — 2,418 Total 317,899,871 342,105,209 |
Borrowings And Debentures (Tabl
Borrowings And Debentures (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Borrowings [abstract] | |
Details Of Borrowings | (1) Details of borrowings are as follows (Unit: Korean Won in millions): 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 (*) As of December 31, 2021, foreign currency borrowings subject to fair value hedges were included in the amount of 35,694 million Won. December 31, 2022 Lenders Interest rate Amount Borrowings in local currency: Borrowings from The BOK The BOK 0.3 ~ 1.8 3,040,877 Borrowings from government funds Small Enterprise and Market Service and others 0.0 ~ 3.5 2,021,049 Others The Korea Development Bank and others 0.0 ~ 6.7 9,562,082 Sub-total 14,624,008 Borrowings in foreign currencies: Borrowings in foreign currencies The Export-Import Bank of Korea and others (0.1) ~ 10.6 11,161,294 Bills sold Others 0.0 ~ 2.4 7,308 Call money Bank and others 1.6 ~ 5.5 400,071 Bonds sold under repurchase agreements Other financial institutions 0.2 ~ 6.4 2,313,044 Present value discount (76,122 ) Total 28,429,603 |
Details Of Debentures | (2) Details of debentures are as follows (Unit: Korean Won in millions): December 31, 2021 December 31, 2022 Interest rate Amount Interest rate Amount Face value of bond (*) Ordinary bonds 0.7 ~ 3.6 37,004,942 0.8 ~ 7.5 37,132,334 Subordinated bonds 1.9 ~ 5.1 6,767,442 1.9 ~ 5.1 5,835,325 Other bonds 0.8 ~ 17.0 911,190 0.8 ~ 17.0 1,271,364 Sub-total 44,683,574 44,239,023 Discounts on bonds (29,710 ) (40,537 ) Total 44,653,864 44,198,486 (*) Included debentures under fair value hedge amounting to and 2,366,724 million W W W W |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Provisions [abstract] | |
Summary of details of provisions | (1) Details of provisions are as follows (Unit: Korean Won in millions): December 31, December 31, Asset retirement obligation 80,777 82,717 Provisions for guarantees (*1) 74,866 76,508 Provisions for unused loan commitments 112,296 106,033 Other provisions (*2) 308,195 280,607 Total 576,134 545,865 (*1) Provisions for guarantees includes provision for financial guarantee of 53,321 million W W (*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, 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 ) Changes due to business combinations 14,501 — — 14,501 Others (*) 953 — — 953 Ending balance 64,804 16,745 8,043 89,592 (*) Recognized as a result of new financial guarantee contract valued at initial fair value. 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 (*) Recognized as a result of new financial guarantee contract valued at initial fair value. For the year ended December 31, 2022 Stage1 Stage2 Stage3 Total Beginning balance 52,830 15,269 6,767 74,866 Transfer to 12-month 1,206 (1,206 ) — — Transfer to expected credit loss for the entire period (119 ) 119 — — Transfer to credit-impaired financial assets (3 ) (338 ) 341 — Provisions used — — — — Net provision (reversal) of unused amount (3,449 ) 10,483 577 7,611 Others (*) (5,969 ) — — (5,969 ) Ending balance 44,496 24,327 7,685 76,508 (*) Recognized as a result of new financial guarantee contract valued at initial fair value. |
Summary of changes in provisions on unused loan commitments | 2) Provisions for unused loan commitment 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 Changes due to business combinations 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 For the year ended December 31, 2022 Stage1 Stage2 Stage3 Total Beginning balance 67,440 44,536 320 112,296 Transfer to 12-month 14,349 (14,217 ) (132 ) — Transfer to expected credit loss for the entire period (2,619 ) 2,648 (29 ) — Transfer to credit-impaired financial assets (197 ) (306 ) 503 — Net provision (reversal) of unused amount (11,402 ) 5,527 (457 ) (6,332 ) Others 69 — — 69 Ending balance 67,640 38,188 205 106,033 |
Summary of changes in asset retirement obligation | (3) Changes in asset retirement obligation for the years ended December 31, 2020, 2021 and 2022 are as follows (Unit: Korean Won in millions): For the years ended 2020 2021 2022 Beginning balance 66,485 68,402 80,777 Provisions provided 806 3,235 4,082 Provisions used (2,958 ) (5,066 ) (7,400 ) Reversal of provisions unused (106 ) (947 ) (21 ) Unwinding of discount 459 495 909 Business combination 219 — — Increase (decrease) of restoration expense, etc. 3,497 14,658 4,370 Ending balance 68,402 80,777 82,717 |
Summary of changes in other obligation | (4) Changes in other provisions for the years ended December 31, 2020, 2021 and 2022 are as follows (Unit: Korean Won in millions): For the years ended December 31 2020 2021 2022 Beginning balance 172,455 221,494 308,195 Provisions provided 232,629 85,706 36,284 Provisions used (181,433 ) (10,375 ) (8,540 ) Reversal of provisions unused (*) (2,345 ) (718 ) (54,893 ) Foreign currencies translation adjustments 606 11,957 (621 ) Transfer (344 ) — — Others (74 ) 131 182 Ending balance 221,494 308,195 280,607 (*) The Group provided Korean Won settlement services for trading transaction settlement between Korea and Iran, investigated by U.S. prosecutors (federal prosecutors, New York state prosecutors) and New York State Department of Financial Services for violations of U.S. sanctions against Iran, Sudan, Syria and Cuba. In this regard, the Office of Foreign Assets Control concluded its investigation in December 2020 urging the bank’s attention without taking any additional sanctions, and New York State Department of Financial Services concluded its investigation in February 2022 without taking any additional sanctions. Meanwhile, in June 2022, the Group reversed the provision related to the investigation of the U.S. Prosecutors, which have not been completed yet, in consideration of the opinion of an independent legal expert that the probability of sanctions by the U.S. Prosecutors in this case is low. |
Net Defined Benefit Liability_2
Net Defined Benefit Liability (Asset) (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of defined benefit plans [abstract] | |
Summary of details of net defined benefit liability | December 31, December 31, Present value of defined benefit obligation 1,618,098 1,377,545 Fair value of plan assets (1,591,458 ) (1,661,623 ) Net defined benefit liabilities (*) 26,640 (284,078 ) (*) Net defined benefit liability of 26,640 million W W W W |
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 2020 2021 2022 Beginning balance 1,442,859 1,610,680 1,618,098 Current service cost 174,509 178,416 166,741 Interest cost 34,653 39,814 48,238 Remeasurements Financial assumption (20,838 ) (92,367 ) (356,344 ) Demographic assumptions 4,161 (251 ) (9 ) Experience adjustments (4,481 ) (12,155 ) (3,838 ) Retirement benefit paid (55,864 ) (106,050 ) (92,914 ) Foreign currencies translation adjustments (119 ) 165 (69 ) Changes due to business combinations 34,001 — — Others 1,799 (154 ) (2,358 ) Ending balance 1,610,680 1,618,098 1,377,545 |
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 2020 2021 2022 Beginning balance 1,352,971 1,564,101 1,591,458 Interest income 34,534 40,927 49,916 Remeasurements (7,666 ) (15,022 ) (18,095 ) Employer’s contributions 211,505 103,251 127,979 Retirement benefit paid (52,627 ) (99,523 ) (87,472 ) Changes due to business combination 27,599 — — Others (2,215 ) (2,276 ) (2,163 ) Ending balance 1,564,101 1,591,458 1,661,623 |
Summary of fair value of plan assets | (4) The fair value of the plan assets by composition as of December 31, 2021 and 2022 are as follows (Unit: Korean Won in millions): December 31, December 31, Cash and due from banks 1,591,458 1,661,623 |
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 2020 2021 2022 Current service cost 174,509 178,416 166,741 Net interest income (expense) 119 (1,113 ) (1,678 ) Cost recognized in net income 174,628 177,303 165,063 Remeasurements (*) (13,492 ) (89,751 ) (342,096 ) Cost recognized in total comprehensive income 161,136 87,552 (177,033 ) (*) Amount before tax Retirement benefits related to defined contribution plans recognized as expenses are 3,827 million Won, 4,494 million Won and 4,240 million Won for the years ended December 31, 2020, 2021 and 2022, 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, 2020 December 31, 2021 December 31, 2022 Discount rate 2.13% ~ 2.97% 2.40% ~ 3.49% 5.25% ~ 5.99% Future wage growth rate 2.05% ~ 7.00% 2.03% ~ 5.56% 2.1% ~ 5.84% 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 5.38 to a maximum 10.71 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 December 31, 2021 December 31, 2022 Discount rate Increase by 1% point (161,428 ) (146,319 ) Decrease by 1% point 189,630 170,529 Future wage growth rate Increase by 1% point 188,392 174,546 Decrease by 1% point (163,431 ) (153,712 ) |
Other Financial Liabilities a_2
Other Financial Liabilities and Other Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Miscellaneous liabilities [abstract] | |
Schedule of miscellaneous other liabilities | Other financial liabilities and other liabilities are as follows (Unit: Korean Won in millions): December 31, 2021 December 31, 2022 Other financial liabilities: Accounts payable 7,031,366 6,001,858 Accrued expenses 2,070,639 3,219,349 Borrowings from trust accounts 3,107,456 3,475,118 Agency business revenue 433,041 213,845 Foreign exchange payables 782,176 822,446 Domestic exchange settlement credits 6,708,220 4,631,921 Lease liabilities 343,213 319,161 Other miscellaneous financial liabilities 3,772,437 4,148,621 Present value discount (15,322 ) (20,451 ) Sub-total 24,233,226 22,811,868 Other liabilities: Unearned income 291,147 351,633 Other miscellaneous liabilities 265,706 338,524 Sub-total 556,853 690,157 Total 24,790,079 23,502,025 |
Derivatives (Tables)
Derivatives (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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, 2021 Assets Liabilities Nominal amount For cash flow hedge 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 December 31, 2022 Assets Liabilities Nominal amount For cash For fair hedge For trading For cash For fair hedge For trading Interest rate: Futures 42,545 — — — — — — Forwards 2,620,000 — — 249,356 — — — Swaps 136,550,518 2,041 — 440,540 — 193,831 474,158 Purchase options 170,000 — — 9,308 — — — Written options 310,000 — — — — — 16,752 Currency: Futures 51,136 — — — — — — Forwards 90,134,257 — — 3,083,082 — — 1,360,535 Swaps 97,197,309 35,745 — 3,105,901 9,080 — 5,500,970 Purchase options 487,852 — — 23,182 — — — Written options 570,982 — — — — — 7,929 — Equity: Futures 958,589 — — — — — — Forwards 183 — — 100 — — — Swaps 568,835 — — 90,237 — — 673 Purchase options 29,801,478 — — 1,204,475 — — — Written options 29,874,836 — — — — — 1,544,108 Total 389,338,520 37,786 — 8,206,181 9,080 193,831 8,905,125 |
Summary Of The Nominal Amounts Of Hedging Instruments | (3) The nominal amounts of the hedging instrument are as follows (Unit: USD, AUD, EUR, and Korean Won in millions): 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 December 31, 2022 1 year or less 1 year to 5 More than 5 Total Fair value hedge Interest rate risk Interest rate swap (USD) — 2,075,000,000 300,000,000 2,375,000,000 Interest rate swap (AUD) 150,000,000 — — 150,000,000 Interest rate swap (KRW) 150,000 — — 150,000 Cash flow hedge Interest rate risk Interest rate swap (KRW) 50,000 140,000 — 190,000 Foreign currencies translation risk and interest rate risk Currency swap (USD) — 270,000,000 — 270,000,000 Foreign currencies translation risk Currency swap (USD) 80,000,000 100,000,000 — 180,000,000 Currency swap (EUR) — 194,780,000 — 194,780,000 Hedges of net investment in foreign operations Exchange risk Foreign currency bond (USD) 272,390,437 592,000,000 — 864,390,437 |
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, 2021 and 2022 are as follows: 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, KRW/USD = 1,206.60 Foreign currencies translation risk Currency swap (USD) USD 1.50% receipt, KRW 1.57% paid, KRW/USD = 1,140.50 December 31, 2022 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 (USD) Fixed 2.05% receipt and (C.SOFR)+0.65% paid Interest rate swap (AUD) Fixed 0.84% receipt and BBSW 3M+0.72% paid Interest rate swap (KRW) Fixed 3.13% receipt and CD 3M paid Cash flow hedge Interest rate risk Interest rate swap (KRW) KRW CMS 5Y+0.46% receipt, 3.65% paid 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+0.79% receipt, KRW 0.80% paid, KRW/USD = 1,226.29 Foreign currencies translation risk Currency swap (USD) USD 1.50% receipt, KRW 1.57% paid, KRW/USD = 1,140.50 Currency swap (EUR) EUR 1.98% receipt, KRW 3.68% paid, KRW/EUR = 1,344.08 Hedges of net investment Exchanging rate risk Foreign currency denominated debentures (KRW/USD) 1,344.37 |
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, and Korean Won in millions): December 31, 2021 Nominal amounts of Carrying amount of the hedging instrument 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) (83,821 ) Interest rate swap (AUD) 150,000,000 Derivative liabilities (designated for hedging) 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 December 31, 2022 Nominal amounts of Carrying amount of Line item in the statement Changing in fair Assets Liabilities Fair value hedge Interest rate risk Interest rate Swap (USD) 2,375,000,000 — 193,831 Derivative assets (designated for hedging) Derivative liabilities (designated for hedging) (247,765 ) Interest rate Swap (AUD) 150,000,000 Interest rate Swap (KRW) 150,000 Cash flow hedge Interest rate risk Interest rate swap (KRW) 190,000 2,041 — Derivative liabilities (designated for hedging) 1,690 Foreign currency translation risk and interest rate risk Currency swap (USD) 270,000,000 17,909 — Derivative liabilities (designated for hedging) 58,253 Foreign currency translation risk Currency swap (USD) 180,000,000 17,836 — Derivative liabilities (designated for hedging) 9,317 Currency swap (EUR) 194,780,000 — 9,080 Derivative liabilities (designated for hedging) (10,286 ) Hedges of net investment in foreign operations Exchange rate risk Foreign currency bond (USD) 864,390,437 — 1,095,442 Foreign currency bond (28,553 ) |
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, 2021 Carrying amount 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 December 31, 2022 Carrying amount 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 — 3,076,983 — (199,804 ) Debentures 257,911 — Cash flow hedge Interest rate risk Debentures — 229,892 — — Debentures (3,742 ) 2,531 Foreign currencies translation risk and interest rate risk Debentures — 342,019 — — Debentures (23,296 ) 8,648 Foreign currencies translation risk Debentures — 752,901 — — Debentures 11,256 (24,600 ) Hedges of net investment in foreign operations Exchange rate risk Foreign operations net asset — 1,095,442 — — Foreign 28,553 (38,797 ) (*) 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, 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) For the year ended December 31, 2022 Hedge ineffectiveness Line item in the profit or loss that Fair value hedge Interest rate risk 10,146 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, 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, 2022 Changes in Hedge Changes Line item Amounts Line item Cash flow hedge Interest rate risk 1,653 37 — Other net operating income (expense) 220 Other net operating income (expense) Foreign currencies translation risk and interest rate risk 58,253 — (1,721 ) Other net operating income (expense) (53,743 ) Other net operating income (expense) Foreign currencies translation risk (969 ) — 2,046 Other net operating income (expense) (16,111 ) Other net operating income (expense) |
Disclosure of gain (loss) on fair value hedge ineffectiveness in profit or loss and other comprehensive income [Table Text Block] | (9) The amounts recognized in profit or loss and other comprehensive income related to the hedging of net investments in foreign operations are as follows (Unit: Korean Won in millions): For the year ended December 31, 2022 Profit or loss Hedge ineffectiveness Line item which Hedges of net investment in foreign operation Exchange (38,797 ) — — |
Deferred Day 1 Profits Or Los_2
Deferred Day 1 Profits Or Losses (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 2020 2021 2022 Beginning balance 52,259 6,939 29,111 New transactions 22,901 49,523 21,656 Amounts recognized in losses (68,221 ) (27,351 ) (32,803 ) Ending balance 6,939 29,111 17,964 |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Equity [Abstract] | |
Summary of Equity | (1) Details of equity as of December 31, 2021 and 2022 are as follows (Unit: Korean Won in millions): December 31, 2021 December 31, 2022 Capital Common stock capital 3,640,303 3,640,303 Hybrid securities 2,294,381 3,112,449 Capital surplus Paid in capital in excess of par 643,544 643,544 Others 38,841 38,841 Sub-total 682,385 682,385 Capital adjustments Treasury stocks (3,819 ) (3,819 ) Other adjustments (*1) (1,747,242 ) (1,780,367 ) Sub-total (1,751,061 ) (1,784,186 ) Accumulated other comprehensive income Financial assets at FVTOCI (162,522 ) (645,731 ) Changes in capital due to equity method (138 ) 475 Gain (loss) on foreign currency translation of foreign operations (63,781 ) (24,202 ) Gain (loss) on hedges of net investment in foreign operations — (20,701 ) Remeasurements of defined benefit plan (195,944 ) 55,235 Gain (loss) on valuation of cash flow hedge 5,553 (4,282 ) Capital related to non-current 279 — Sub-total (416,553 ) (639,206 ) Retained earnings (*2) (*3) 21,347,472 23,750,152 Non-controlling (*4) 3,008,176 2,865,445 Total 28,805,103 31,627,342 (*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 regulatory reserve for credit losses in retained earnings amounted to 2,568,367 million Won and 2,996,960 million Won and as of December 31, 2021 and 2022, respectively in accordance with the relevant article. (*3) The earned surplus reserve in retained earnings amounted to 122,370 million W W (*4) The hybrid securities issued by Woori Bank amounting to 2,555,166 million Won and 2,344,816 million Won as of December 31, 2021 and 2022, respectively, are recognized as non-controlling interests. 144,923 million Won and 113,995 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, 2021 and 2022, respectively. |
Summary of Authorized Shares And Others | (2) The number of authorized shares and others of the Group are as follows: December 31, 2021 December 31, 2022 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 728,060,549 Shares 728,060,549 Shares Capital stock 3,640,303 million Won 3,640,303 million Won |
Hybrid Securities | (3) 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, 2021 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 — 3.15 200,000 200,000 Securities in local currency 2021-10-14 — 3.60 200,000 200,000 Securities in local currency 2022-02-17 — 4.10 — 300,000 Securities in local currency 2022-07-28 — 4.99 — 300,000 Securities in local currency 2022-10-25 — 5.97 — 220,000 Issuance cost (5,619 ) (7,551 ) Total 2,294,381 3,112,449 |
Changes in the accumulated other comprehensive income or loss | (4) 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, 2020 Beginning Increase (*) Reclassification Classified as 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 non-current For the year ended December 31, 2022 Beginning Increase (*) Reclassification Income Ending balance Net gain (loss) on valuation of financial assets at FVTOCI (162,522 ) (659,906 ) 21,498 155,199 (645,731 ) Changes in capital due to equity method (138 ) 6,563 — (5,950 ) 475 Gain (loss) on foreign currency translation of foreign operations (63,781 ) 33,368 — 6,211 (24,202 ) Gain (loss) on hedges of net investment in foreign operations — (28,553 ) — 7,852 (20,701 ) Remeasurement gain (loss) related to defined benefit plan (195,944 ) 346,553 — (95,374 ) 55,235 Gain (loss) on valuation of cash flow hedge 5,553 (10,373 ) (220 ) 758 (4,282 ) Capital related to non-current 279 (385 ) — 106 — Total (416,553 ) (312,733 ) 21,278 68,802 (639,206 ) (*) The increase(decrease) of financial asset valuation profit or loss at fair value through other comprehensive income and non-current non-current |
Summary of Treasury Stocks | (5) Treasury stock Details of treasury stocks are as follows (Unit: Shares, Korean Won in millions): December 31, 2021 December 31, 2022 Number of Carrying Number of Carrying Beginning balance 2 — 343,991 3,819 Acquisition 343,989 3,819 — — Ending balance 343,991 3,819 343,991 3,819 |
Net Interest Income (Tables)
Net Interest Income (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 2020 2021 2022 Financial assets at FVTPL 48,612 45,803 106,698 Financial assets at FVTOCI 437,527 381,814 632,615 Financial assets at amortized cost Loans and other financial assets at amortized cost Interest on due from banks 53,586 46,600 244,331 Interest on loans 8,570,173 9,065,074 13,109,022 Interest of other receivables 30,967 30,538 46,637 Sub-total 8,654,726 9,142,212 13,399,990 Securities at amortized cost 382,988 324,920 515,246 Sub-total 9,037,714 9,467,132 13,915,236 Total 9,523,853 9,894,749 14,654,549 |
Summary of Interest Expense | (2) Details of interest expense recognized are as follows (Unit: Korean Won in millions): For the years ended December 31 2020 2021 2022 Interest on deposits due to customers 2,486,523 1,906,858 4,120,811 Interest on borrowings 269,985 219,994 598,185 Interest on debentures 722,551 727,093 1,036,191 Other interest expense 36,964 47,647 195,090 Interest on lease liabilities 9,318 7,436 7,693 Total 3,525,341 2,909,028 5,957,970 |
Net Fees and Commissions Inco_2
Net Fees and Commissions Income (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 2020 2021 2022 Fees and commission received for brokerage 162,653 182,794 185,545 Fees and commission received related to credit 195,391 197,125 189,856 Fees and commission received for electronic finance 125,107 131,941 130,712 Fees and commission received on foreign exchange handling 55,984 56,210 56,812 Fees and commission received on foreign exchange 69,017 73,894 96,713 Fees and commission received for guarantee 74,647 76,428 85,340 Fees and commission received on credit card 507,852 573,048 594,897 Fees and commission received on securities business 79,606 100,991 111,211 Fees and commission from trust management 160,564 216,203 266,447 Fees and commission received on credit information 13,254 10,220 10,190 Fees and commission received related to lease 84,164 374,900 572,563 Other fees 165,777 177,951 199,414 Total 1,694,016 2,171,705 2,499,700 |
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 2020 2021 2022 Fees and commissions paid 246,824 261,734 325,536 Credit card commission 424,316 425,796 446,885 Securities business commission 551 1,605 1,414 Others 8,286 11,795 15,695 Total 679,977 700,930 789,530 |
Dividend Income (Tables)
Dividend Income (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 2020 2021 2022 Dividend income related to financial assets at FVTPL 120,158 284,683 136,136 Dividend income related to financial assets at FVTOCI 18,385 24,528 23,846 Total 138,543 309,211 159,982 |
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 2020 2021 2022 Dividend income recognized from assets held: Equity securities 18,385 24,528 23,846 |
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, 2022 | |
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 2020 2021 2022 Gain on financial instruments at fair value through profit or loss measured at fair value 422,374 325,649 238,502 Gain (loss) on financial instruments at fair value through profit or loss designated as upon initial recognition (665 ) 102 — Total 421,709 325,751 238,502 |
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 and financial instruments held for trading are as follows (Unit: Korean Won in millions): For the years ended December 31 2020 2021 2022 Financial assets at FVTPL Securities Gain on transactions and valuation 142,551 249,803 294,667 Loss on transactions and valuation (122,506 ) (197,172 ) (553,093 ) Sub-total 20,045 52,631 (258,426 ) Loans Gain on transactions and valuation 15,299 24,674 24,005 Loss on transactions and valuation (8,087 ) (6,770 ) (2,219 ) Sub-total 7,212 17,904 21,786 Other financial assets Gain on transactions and valuation 10,902 17,034 21,602 Loss on transactions and valuation (10,257 ) (12,370 ) (12,314 ) Sub-total 645 4,664 9,288 Sub-total 27,902 75,199 (227,352 ) Derivatives (Held for trading) Interest rates derivatives Gain on transactions and valuation 1,727,585 2,020,004 5,216,543 Loss on transactions and valuation (1,998,824 ) (1,746,752 ) (3,625,834 ) Sub-total (271,239 ) 273,252 1,590,709 Currency derivatives Gain on transactions and valuation 12,562,354 9,685,798 14,601,674 Loss on transactions and valuation (11,906,353 ) (9,715,260 ) (15,713,074 ) Sub-total 656,001 (29,462 ) (1,111,400 ) Equity derivatives Gain on transactions and valuation 1,835,497 1,754,671 2,836,843 Loss on transactions and valuation (1,825,372 ) (1,744,294 ) (2,850,334 ) Sub-total 10,125 10,377 (13,491 ) Other derivatives Gain on transactions and valuation — 64 49 Loss on transactions and valuation (415 ) (3,781 ) (13 ) Sub-total (415 ) (3,717 ) 36 Sub-total 394,472 250,450 465,854 Net, Total 422,374 325,649 238,502 |
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 2020 2021 2022 Gain (loss) on equity-linked securities (665 ) 102 — |
Net gain or loss on financial_3
Net gain or loss on financial assets at FVTOCI (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 2020 2021 2022 Loss on redemption of securities (57 ) (23 ) (7 ) Gain (Loss) on transaction of securities 24,195 32,647 (21,491 ) Total 24,138 32,624 (21,498 ) |
Reversal of (provision for) i_2
Reversal of (provision for) impairment losses due to credit loss (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 2020 2021 2022 Reversal(provision) due to credit loss on financial assets measured at FVTOCI (1,529 ) (4,909 ) 827 Provision for impairment loss due to credit loss on securities at amortized cost 934 (664 ) (3,151 ) Provision for impairment loss due to credit loss on loan and other financial assets at amortized cost (792,250 ) (551,957 ) (881,668 ) Provision for(reversal of) provision on guarantee 18,348 10,701 (7,611 ) Reversal of(provision for) unused loan commitment (9,874 ) 9,991 6,332 Total (784,371 ) (536,838 ) (885,271 ) |
General administrative expens_2
General administrative expenses and other operating incomes (expenses) (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 2020 2021 2022 Employee benefits Short-term employee benefits Salaries 1,638,341 1,775,018 1,980,363 Employee fringe benefits 506,048 545,534 590,255 Share based payment 7,495 17,774 9,632 Retirement benefit service costs 178,455 181,797 169,303 Termination 202,259 180,872 162,019 Sub-total 2,532,598 2,700,995 2,911,572 Depreciation and amortization 520,969 524,154 521,827 Other general and administrative expenses Rent 78,707 83,879 80,130 Taxes and public dues 129,904 135,015 157,905 Service charges 244,825 231,852 233,495 Computer and IT related 108,810 117,875 127,186 Telephone and communication 72,711 79,145 84,204 Operating promotion 45,891 44,248 53,733 Advertising 94,880 101,384 160,464 Printing 6,954 6,449 6,799 Traveling 7,263 7,449 10,716 Supplies 12,127 7,642 8,309 Insurance premium 10,805 10,692 20,670 Maintenance 18,367 20,808 23,266 Water, light, and heating 14,993 14,520 16,165 Vehicle maintenance 10,225 11,590 14,831 Others 46,152 49,714 98,618 Sub-total 902,614 922,262 1,096,491 Total 3,956,181 4,147,411 4,529,890 |
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 2020 2021 2022 Gain on transactions of foreign exchange 758,347 562,935 1,403,083 Gain related to derivatives (Designated for hedging) 67,395 61,271 71,179 Gain on fair value hedged items 9,646 106,253 257,910 Others 63,702 172,044 249,509 Total 899,090 902,503 1,981,681 |
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 2020 2021 2022 Losses on transactions of foreign exchange 679,350 450,698 1,181,663 KDIC deposit insurance premium 371,054 406,276 423,834 Contribution to miscellaneous funds 327,911 367,961 402,057 Losses related to derivatives (Designated for hedging) 82,746 93,084 250,268 Losses on fair value hedged items 68,508 1,947 — Others (*) 189,959 469,938 736,112 Total 1,719,528 1,789,904 2,993,934 (*) Other expense includes 11,890 million Won, 13,963 million Won and 14,664 million Won for intangible asset amortization cost for the years ended December 31, 2020, 2021 and 2022 respectively. In addition, it includes 52,504 million Won, 250,971 million Won and 388,895 million Won for lease depreciation cost for the years ended December 31, 2020, 2021 and 2022, respectively. |
Performance condition share-based payment granted to executives | (4) Share-based payment Details of performance condition share-based payment granted to executives as of December 31, 2021 and 2022 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) 12,406 Won Valuation method Black-Scholes Model Expected dividend rate 5.05% Expected maturity date — Number of shares remaining As of December 31, 2021 602,474 shares As of December 31, 2022 602,474 shares Number of shares granted (*2) As of December 31, 2021 602,474 shares As of December 31, 2022 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) 11,796 Won Valuation method Black-Scholes Model Expected dividend rate 5.05% Expected maturity date 1 year Number of shares remaining As of December 31, 2021 944,343 shares As of December 31, 2022 944,343 shares Number of shares granted (*2) As of December 31, 2021 944,343 shares As of December 31, 2022 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) 11,215 Won Valuation method Black-Scholes Model Expected dividend rate 5.05% Expected maturity date 2 years Number of shares remaining As of December 31, 2021 1,105,515 shares As of December 31, 2022 1,105,515 shares Number of shares granted (*2) As of December 31, 2021 1,105,515 shares As of December 31, 2022 1,105,515 shares Subject to Shares granted for the year 2022 Type of payment Cash-settled Vesting period January 1, 2022 ~ December 31, 2025 Date of payment 2026-01-01 Fair value (*1) 10,662 Won Valuation method Black-Scholes Model Expected dividend rate 5.05% Expected maturity date 3 years Number of shares remaining As of December 31, 2021 — As of December 31, 2022 968,119 shares Number of shares granted (*2) As of December 31, 2021 — As of December 31, 2022 968,119 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 |
Non-operating income (expense_2
Non-operating income (expenses) (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 2020 2021 2022 Gains on valuation of investments in joint ventures and associates 125,602 80,268 98,858 Reversal of impairment losses of investments in joint ventures and associates — 1,744 — Losses on valuation of investments in joint ventures and associates (23,283 ) (7,405 ) (11,134 ) Impairment losses of investments in joint ventures and associates (1,242 ) (12,411 ) (17,728 ) Total 101,077 62,196 69,996 |
Details of other non-operating income and expenses | (2) Details of other non-operating For the years ended December 31 2020 2021 2022 Other non-operating 133,195 188,129 158,778 Other non-operating (313,415 ) (223,029 ) (111,728 ) Total (180,220 ) (34,900 ) 47,050 |
Details of other non-operating income | (3) Details of other non-operating For the years ended December 31 2020 2021 2022 Rental fee income 15,190 15,056 22,798 Gains on disposal of investments in joint ventures and associates 3,470 70,834 599 Gains on disposal of premises and equipment, intangible assets and other assets 9,715 51,083 55,852 Reversal of impairment loss of premises and equipment, intangible assets and other assets 172 166 310 Others (*) 104,648 50,990 79,219 Total 133,195 188,129 158,778 (*) Others include 67,427 million Won |
Details of other non-operating expenses | (4) Details of other non-operating For the years ended December 31 2020 2021 2022 Depreciation on investment properties 2,689 2,809 3,925 Operating expenses on investment properties 762 1,174 1,448 Losses on disposal of investment in joint ventures and associates — 174 3,690 Losses on disposal of premises and equipment, intangible assets and other assets 2,717 3,354 3,177 Impairment losses of premises and equipment, intangible assets and other assets 8,763 656 260 Donation 44,504 39,335 50,547 Others (*) 253,980 175,527 48,681 Total 313,415 223,029 111,728 (*) Others include 224,427 million W million Won of other extraordinary losses related to other provisions for the years ended December 31, 2020 and 2021, respectively. And they include million Won of other extraordinary loss related to embezzlement accidents for the years ended December 31, 2021. Also, they include million Won of other extraordinary loss related to other provisions for the year ended December 31, 2022. |
Income Tax Expense (Tables)
Income Tax Expense (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 2020 2021 2022 Current tax expense Current tax expense with respect to the current period 501,223 884,843 1,332,636 Adjustments recognized in the current period in relation to the tax expense of prior periods 4,914 2,074 (13,982 ) Income tax expense directly attributable to other equity — — 7,852 Sub-total 506,137 886,917 1,326,506 Deferred tax expense Change in deferred tax assets (liabilities) due to temporary differences (1,702 ) 15,672 (217,805 ) Income tax expense (income) directly attributable to equity (18,433 ) 22,177 68,802 Others — — 993 Sub-total (20,135 ) 37,849 (148,010 ) Income tax expense 486,002 924,766 1,178,496 |
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 2020 2021 2022 Net income before income tax expense 2,001,251 3,687,045 4,547,570 Tax calculated at statutory tax rate (*) 514,456 942,991 1,171,389 Adjustments: Effect of income that is exempt from taxation (42,440 ) (41,335 ) (73,488 ) Effect of expenses that are not deductible in determining taxable income 19,451 18,933 26,793 Adjustments recognized in the current period in relation to the current tax of prior periods 4,914 3,078 (14,088 ) Others (10,379 ) 1,099 67,890 Sub-total (28,454 ) (18,225 ) 7,107 Income tax expense 486,002 924,766 1,178,496 Effective tax rate 24.30 % 25.10 % 25.90 % (*) The applicable income tax rate: % up to 200 million Won in tax basis, 22% over 200 million Won to 20 billion Won, 24.2% over 20 billion Won to 300 billion Won and 27.5% over 300 billion Won. |
Changes in cumulative temporary differences | (3) Changes in deferred tax assets and liabilities for the years ended December 31, 2020, 2021 and 2022, are as follows (Unit: Korean Won in millions): 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. For the year ended December 31, 2022 Beginning Business Recognized Recognized as Ending Balance Gain (loss) on financial assets 273,356 — (55,410 ) 155,199 373,145 Gain on valuation using the equity method of accounting 15,260 — 11,139 (5,844 ) 20,555 Gain (loss) on valuation of derivatives (149,805 ) — 159,664 758 10,617 Accrued income (82,482 ) — (7,848 ) — (90,330 ) Provision for loan losses (34,625 ) — 14,520 — (20,105 ) Loan and receivables written off 8,244 — (318 ) — 7,926 Loan origination costs and fees (194,463 ) — 25,370 — (169,093 ) Defined benefit liability 449,615 — 15,760 (95,590 ) 369,785 Deposits with employee retirement insurance trust (432,001 ) — (18,437 ) 216 (450,222 ) Provision for guarantee 7,424 — 904 — 8,328 Other provision 100,571 — (13,342 ) — 87,229 Others (*) (99,803 ) (1,473 ) 16,878 14,063 (70,335 ) Net deferred tax assets (138,709 ) (1,473 ) 148,880 68,802 77,500 (*) Among the deferred tax assets and liabilities classified as ‘Others,’ the deferred tax asset arising from unused tax losses amounts to 3,536 million Won. |
Unrealizable temporary differences | (4) Unrealizable temporary differences are as follows (Unit: Korean Won in millions): December 31, 2021 December 31, 2022 Deductible temporary differences 303,067 330,376 Tax loss carry forward 63,908 49,405 Taxable temporary differences (8,025,672 ) (8,898,834 ) Total (7,658,697 ) (8,519,053 ) |
Expected extinctive date of tax loss carry forward that are not recognized as deferred tax assets | As of December 31, 2022, 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 36,967 10,828 — 1,610 |
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 58,677 213,876 Gain on valuation of equity method investments 2,078 (3,766 ) Gain on foreign currency translation of foreign operations 5,689 9,938 Gain on valuation of hedge accounting of the net investment in foreign operations — 9,815 Remeasurements of the net defined benefit liability 74,790 (20,584 ) Gain on derivatives designated as cash flow hedge (843 ) (86 ) Total 140,391 209,193 |
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 22,598 53,274 Current tax liabilities 584,491 843,555 |
Earnings per Share (Tables)
Earnings per Share (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 2020 2021 2022 Net income attributable to common shareholders 1,307,266 2,542,844 3,186,772 Dividends to hybrid securities (48,915 ) (66,250 ) (91,756 ) Net income attributable to common shareholders 1,258,351 2,476,594 3,095,016 Weighted average number of common shares outstanding (Unit: million shares) 722 724 728 Basic EPS (Unit: Korean Won) 1,742 3,419 4,251 |
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, 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 For the year ended December 31, 2022 Period Number of Dates Accumulated Common shares issued at the beginning of the period 2022-01-01 2022-12-31 728,060,549 365 265,742,100,385 Treasury stocks 2022-01-01 2022-12-31 (343,991 ) 365 (125,556,715 ) Sub-total 265,616,543,670 Weighted average number of common shares outstanding (②=(①/365) 727,716,558 |
Contingent Liabilities and Co_2
Contingent Liabilities and Commitments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of contingent liabilities [abstract] | |
Details of guarantees | (1) Details of guarantees are as follows (Unit: Korean Won in millions): December 31, 2021 December 31, 2022 Confirmed guarantees Guarantee for loans 38,897 39,684 Acceptances 622,758 501,921 Guarantees in acceptances of imported goods 111,195 97,920 Other confirmed guarantees 7,215,557 6,847,713 Sub-total 7,988,407 7,487,238 Unconfirmed guarantees Local letters of credit 243,072 150,075 Letters of credit 3,186,513 3,014,228 Other unconfirmed guarantees 778,088 1,144,498 Sub-total 4,207,673 4,308,801 Commercial paper purchase commitments and others 791,729 125,547 Total 12,987,809 11,921,586 (*) Includes financial guarantees of 3,960,383 million Won and 3,095,091 million Won as of December 31, 2021 and December 31, 2022, 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 114,414,462 118,172,070 Other commitments (*) 5,652,557 7,107,828 (*) As of December 31, 2021 and 2022, the amount of unsecured bills (purchase note sales) and discounts on electronic short-term bond sales (purchase) are 2,225,226 million Won and 2,505,399 million Won, respectively. |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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, 2021 December 31, 2022 Associates W Service Networks Co., Ltd. Loans 20 120 Deposits due to customers 2,832 3,298 Accrued expenses 6 7 Other liabilities 425 109 Korea Credit Bureau Co., Ltd. Loans 2 2 Deposits due to customers 1,557 4,450 Other liabilities — 40 Korea Finance Security Co., Ltd. Loans 3,425 3,433 Loss allowance (6 ) (46 ) Deposits due to customers 1,887 1,764 Other liabilities 2 6 LOTTE CARD Co. Ltd. Loans 3,750 50,000 Account receivables — 16 Loss allowance (39 ) (30 ) Other assets 10 — Deposits due to customers 13,482 35,986 Other liabilities 91 74 K BANK Co., Ltd. Loans 99 3 Account receivables 29 31 Other liabilities 84,935 108,156 Related parties Account title December 31, 2021 December 31, 2022 Others (*1) Loans 73,940 68,660 Loss allowance (124 ) (34 ) Other assets 739 768 Deposits due to customers 1,063 3,622 Other liabilities 3 119 (*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, 2021 and 2022. |
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 2020 2021 2022 Associates W Service Network Co., Ltd. Other income 32 30 — Interest expenses 13 7 14 Fees expenses 525 612 543 Reversal of allowance for credit losses (4 ) — — Other expenses 2,174 1,878 1,907 Korea Credit Bureau Co., Ltd. Interest expenses 5 4 40 Fees expenses 3,155 3,503 3,730 Other expenses — 68 139 Korea Finance Security Co., Ltd. Interest income 70 80 141 Interest expenses 3 2 3 Provision of allowance for credit losses 3 1 44 Other expenses 100 92 52 Chin Hung International Inc. Interest expenses 19 — — Reversal of allowance for credit losses (145 ) — — LOTTE CARD Co., Ltd. Interest income 311 196 83 Fees income 2,748 10,248 7,701 Interest expenses 68 462 1,902 Provision (Reversal) of allowance for credit losses 171 (59 ) (27 ) K BANK Co., Ltd. Fees income 1,763 1,952 698 Fees expenses — 636 937 Well to Sea No.3 Private Equity Fund Interest income 1,883 — — Interest expenses 5 — — Reversal of allowance for credit loss (55 ) — — Others (*1) Interest income — 679 713 Fees income 2,677 5,546 7,138 Dividends income 52 — — Other income 16 — — Interest expenses 28 17 10 Provision of allowance for credit loss — 2 92 Provision of impairment losses due to credit loss — — 1 (*1) 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, 2021 and 2022. |
Summary Of Major Loan Transactions With Related Parties | (3) Major loan transactions with related parties for the years ended December 31, 2020, 2021 and 2022 are as follows (Unit: Korean Won in millions): 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. For the year ended December 31, 2022 Related parties Beginning Loan Collection Others Ending Associates W Service Network Co., Ltd. 20 352 252 — 120 Korea Credit Bureau Co., Ltd. 2 15 15 — 2 Korea Finance Security Co., Ltd. 3,425 2,407 2,399 — 3,433 LOTTE CARD Co., Ltd. 3,750 50,000 3,750 — 50,000 K BANK Co., Ltd. 99 315 411 — 3 Godo Kaisha Oceanos 1 43,033 41,467 43,033 (1,653 ) 39,814 Woori Zip 1 12,775 — — (956 ) 11,819 Woori Zip 2 18,132 — — (1,356 ) 16,776 Central Network Solutions Co., Ltd. — 251 — — 251 (*) 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 years ended December 31, 2020, 2021 and 2022 are as follows (Unit: Korean Won in millions): 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. For the year ended December 31, 2022 Related parties Beginning Increase Decrease Ending balance (*) Associates W Service Networks Co., Ltd 1,180 1,200 1,180 1,200 Partner One Value Up I Private Equity Fund 329 550 779 100 Korea Credit Bureau Co., Ltd. — 3,000 — 3,000 (*) 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, 2021 and 2022. |
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, 2021 December 31, 2022 Warranty Korea Finance Security Co., Ltd. 835 627 Unused loan commitment Korea Credit Bureau Co., Ltd. 33 33 Unused loan commitment W Service Network Co., Ltd. 180 60 Unused loan commitment K BANK Co., Ltd. 201 297 Unused loan commitment LOTTE CARD Co. Ltd. 500,000 450,000 Unused loan commitment D-Custody — 10 Unused loan commitment As of December 31, 2021 and 2022, the recognized payment guarantee provisions are 93 million W W |
Amount Of Commitments With The Related Parties | (7) Amount of commitments with the related parties Warrantee December 31, 2021 December 31, 2022 Warranty IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership 4,664 4,664 Securities purchase commitment WooriG Senior Loan General Type Private Investment Trust No.1 14,284 — Securities purchase commitment Woori Seoul Beltway Private Special Asset Fund No.1 39,458 37,146 Securities purchase commitment Woori-Q 11,109 12,555 Securities purchase commitment Union Technology Finance Investment Association 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 — Securities purchase commitment JC Assurance No.2 Private Equity Fund 1,351 1,351 Securities purchase commitment Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund 425 325 Securities purchase commitment WooriG Oncorp Corporate support of Major Industry General Type Private Investment Trust (Type 2) 669 39 Securities purchase commitment BTS 2nd Private Equity Fund — 6,974 Securities purchase commitment STASSETS FUND III — 13,500 Securities purchase commitment Together Korea Government Private Securities Investment Trust No.3 — 990,000 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, 2021 and 2022 are as follows (Unit: Korean Won in millions): For the year ended December 31, 2021 Related parties Investment others (*) 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) For the year ended December 31, 2022 Related parties Investment others (*) Recovery Woori High Plus Short-term High Graded ESG Bond Sec Feeder Inv Trust 1 — 21,606 Woori High Plus Bond Sec Feeder Inv Trust 3(USD) — 1,052 Woori BANKPLUS IPO 10 FEEDER FUND 2(BALANCED BOND) 200 — Woori Two-year — 213 Woori China Mainland Stock Securities Investment Trust H(Securities) — 443 Woori Long-term government bond securities Investment Trust No.1 — 1,951 Woori Republic of Korea Treasury Bond Active ETF(Bond) 3,000 — Woori K-New 200 — Woori 2023 Maturity Securities Investment Trust(Bond) 200 — Woori 2024 Maturity Securities Investment Trust 1(Bond) 200 — Woori BIG SATISFACTION SHINJONG MMF 3RD 320,000 — Woori MULTI RETURN PRIVATE EQUITY 1 — 8,559 Woori 2024 December Maturity Securities Investment Trust 1(Bond) 200 — Woori Two-year — 209 Woori G Oncorp Corporate support of Major Industry General Type Private Investment Trust (Type 2) 630 — (*) 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 2020 2021 2022 Short-term employee salaries 22,778 20,742 21,990 Retirement benefit service costs 910 815 937 Share-based compensation 3,519 6,970 4,234 Total 27,207 28,527 27,161 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 are as follows (Unit: Korean Won in millions): 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 December 31, 2022 Total investment in lease Net investment in lease Within one year 160,181 146,749 After one year but within two years 231,075 215,497 After two years but within three years 366,599 338,709 After three years but within four years 501,034 452,099 After four years but within five years 368,420 314,696 After five years 19 18 Total 1,627,328 1,467,768 |
Summary of unrealized interest income of the finance lease | ② The unrealized interest income of the finance lease is as follows (Unit: Korean Won in millions): December 31, December 31, Total investment in lease 1,298,516 1,627,328 Net investment in lease 1,173,565 1,467,768 Present value of minimum lease payments 1,173,565 1,467,768 Present value of unguaranteed residual value — — Unearned interest income 124,951 159,560 |
Summary of operating lease assets | ① The details of operating lease assets are as follows (Unit: Korean Won in millions): December 31, 2021 December 31, 2022 Prepaid lease assets 4,579 3,121 Operating lease assets Acquisition cost 2,299,968 3,320,275 Accumulated depreciation (521,660 ) (729,818 ) Net carrying value 1,778,308 2,590,457 Total 1,782,887 2,593,578 |
Summary of changes in assets subject to operating lease | ② The details of changes in operating lease assets as of December 31, 2022 are as follows and there is no details of changes in operating lease assets as of December 31, 2021 (Unit: Korean Won in millions) December 31, 2021 December 31, 2022 Beginning balance 1,116,175 1,778,308 Acquisition 984,093 1,321,251 Disposal (93,138 ) (138,189 ) Depreciation (250,971 ) (388,895 ) Others 22,149 17,982 Ending balance 1,778,308 2,590,457 |
Summary of future lease payments to be received under operating lease contracts | ③ The future lease payments to be received under the lease contracts are as follows (Unit: Korean Won in millions): December 31, 2021 December 31, 2022 Within one year 377,153 567,998 After one year but within two years 347,539 526,899 After two years but within three years 262,176 420,244 After three years but within four years 170,391 275,080 After four years but within five years 79,555 86,606 Total 1,236,814 1,876,827 |
Summary of future lease payments for the lease contracts | 1) The future lease payments under the lease contracts are as follows (Unit: Korean Won in millions): December 31, 2021 December 31, 2022 Lease payments Within one year 151,259 170,781 After one year but within five years 155,707 152,145 After five years 38,275 33,007 Total 345,241 355,933 |
Summary of cash outflows from lease | 2) Total cash outflows from lease are as follows (Unit: Korean Won in millions): For the years ended December 31 2021 2022 Total cash outflows from lease 180,884 192,540 |
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 are as follows (Unit: Korean Won in millions): For the years ended December 31 2021 2022 Lease payments for short-term leases 1,598 1,469 Lease payments for which the underlying asset is of low value 1,488 1,316 Total 3,086 2,785 |
Business Combination (Tables)
Business Combination (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of detailed information about business combination [abstract] | |
Summary of the acquisition date, the transfer price, acquisition assets, liabilities, and non-controlling interests related to the business combination | 1) As of the acquisition date, the transfer price, acquisition assets, liabilities, and non-controlling Amount Fair value of transfer price Cash 130,424 Amount recognized as assets and liabilities Cash and cash equivalents 5,607 Financial assets at amortized cost 95,587 Other assets 24,096 Borrowings 25,932 Other liabilities 10,150 Fair value of identifiable net assets 89,208 Non-controlling (*1) 16,453 Goodwill 57,670 (*1) Represents amount of a proportionate interest of the fair value of indentifiable net assets. |
General - General Information (
General - General Information (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Jan. 07, 2022 KRW (₩) | Dec. 31, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | |
Disclosure Of Notes And Other Explanatory Information [Line Items] | ||||
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 | $ 2,888,671 | ₩ 3,640,303 | |
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.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 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.As of January 7, 2022, the Parent company established Woori Financial F&I Co., Ltd., an investment company for non-performing loans and restructuring companies (100% interest, 200 billion Won in stock payments) and included it as a subsidiary. | |||
Address of registered office of entity | The headquarters of the Parent company is located at 51, Sogong-ro, Jung-gu, Seoul, Korea | |||
Woori Financial F&I Co., Ltd., [member] | ||||
Disclosure Of Notes And Other Explanatory Information [Line Items] | ||||
Proportion of owenrship interest in subsidiary | 100% | |||
In stock payments made | ₩ 200,000 |
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, 2022 | Dec. 31, 2021 | |
Disclosure Of Stock Transfer [Line Items] | ||
Total number of issued shares | 728,060,549 | 728,060,549 |
Woori bank | ||
Disclosure Of Stock Transfer [Line Items] | ||
Total number of issued shares | 676,000,000 | |
Exchange ratio per share | 1% | |
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 | 0.29997% | |
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 | 0.18882% | |
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 | 1.10373% | |
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 | 0.4709% | |
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 | 0.0878% | |
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, 2022 | Dec. 31, 2021 | |||
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% | 100% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 443,340,979 | ₩ 415,976,627 | ||
Liabilities | 417,583,793 | 391,360,200 | ||
Operating revenue | 38,656,623 | 24,311,964 | ||
Net income (loss) attributable to owners | 2,937,257 | 2,330,433 | ||
Comprehensive income (loss) attributable to owners | ₩ 2,696,965 | ₩ 2,478,754 | ||
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% | 100% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 16,118,967 | ₩ 14,116,832 | ||
Liabilities | 13,692,456 | 11,858,065 | ||
Operating revenue | 1,845,296 | 1,528,680 | ||
Net income (loss) attributable to owners | 204,385 | 200,726 | ||
Comprehensive income (loss) attributable to owners | ₩ 199,397 | ₩ 210,316 | ||
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% | 100% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 12,581,473 | ₩ 10,259,868 | ||
Liabilities | 11,040,754 | 9,073,104 | ||
Operating revenue | 1,323,574 | 997,655 | ||
Net income (loss) attributable to owners | 183,328 | 140,579 | ||
Comprehensive income (loss) attributable to owners | ₩ 189,765 | ₩ 141,275 | ||
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, 2022 | Dec. 31, 2021 | ||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 5,657,191 | ₩ 5,159,742 | ||
Liabilities | 4,982,410 | 4,559,856 | ||
Operating revenue | 406,157 | 303,253 | ||
Net income (loss) attributable to owners | 91,794 | 79,924 | ||
Comprehensive income (loss) attributable to owners | ₩ 92,379 | ₩ 79,747 | ||
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, 2022 | Dec. 31, 2021 | ||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 322,098 | ₩ 254,773 | ||
Liabilities | 94,573 | 86,418 | ||
Operating revenue | 137,114 | 94,228 | ||
Net income (loss) attributable to owners | 60,319 | 40,300 | ||
Comprehensive income (loss) attributable to owners | ₩ 60,316 | ₩ 40,263 | ||
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% | 73% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 185,389 | ₩ 151,651 | ||
Liabilities | 62,568 | 30,144 | ||
Operating revenue | 35,019 | 33,343 | ||
Net income (loss) attributable to owners | 1,259 | 8,244 | ||
Comprehensive income (loss) attributable to owners | ₩ 1,314 | ₩ 8,458 | ||
Woori Financial F&I Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Financial Group Inc. | Woori Financial Group Inc. | ||
Subsidiaries | Woori Financial F&I Co., Ltd. | Woori Financial F&I Co., Ltd. | ||
Main business | Finance | Finance | ||
Percentage of ownership (%) | 100% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 336,141 | |||
Liabilities | 135,562 | |||
Operating revenue | 8,086 | |||
Net income (loss) attributable to owners | 867 | |||
Comprehensive income (loss) attributable to owners | ₩ 867 | |||
Woori Savings Bank | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Financial Group Inc. | Woori Financial Group Inc. | ||
Subsidiaries | [1] | Woori Savings Bank | Woori Savings Bank | |
Main business | Mutual saving bank | Mutual saving bank | ||
Percentage of ownership (%) | 100% | 100% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 | ₩ 1,786,495 | ₩ 1,444,508 | ||
Liabilities | 1,556,679 | 1,222,888 | ||
Operating revenue | 110,868 | 85,813 | ||
Net income (loss) attributable to owners | 10,607 | 15,315 | ||
Comprehensive income (loss) attributable to owners | ₩ 10,998 | ₩ 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% | 100% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 42,832 | ₩ 40,510 | ||
Liabilities | 9,240 | 8,532 | ||
Operating revenue | 38,549 | 37,507 | ||
Net income (loss) attributable to owners | 1,784 | 1,563 | ||
Comprehensive income (loss) attributable to owners | ₩ 2,083 | ₩ 1,513 | ||
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% | 100% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 25,094 | ₩ 22,168 | ||
Liabilities | 2,691 | 2,582 | ||
Operating revenue | 16,337 | 15,618 | ||
Net income (loss) attributable to owners | 3,917 | 3,570 | ||
Comprehensive income (loss) attributable to owners | ₩ 3,917 | ₩ 3,570 | ||
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% | 100% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 94,434 | ₩ 42,790 | ||
Liabilities | 4,672 | 4,652 | ||
Operating revenue | 7,830 | 4,230 | ||
Net income (loss) attributable to owners | 1,902 | 2,209 | ||
Comprehensive income (loss) attributable to owners | ₩ 1,872 | ₩ 2,113 | ||
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% | 100% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 34,988 | ₩ 35,265 | ||
Liabilities | 7,090 | 7,579 | ||
Operating revenue | 13,711 | 11,785 | ||
Net income (loss) attributable to owners | 211 | (441) | ||
Comprehensive income (loss) attributable to owners | ₩ 211 | ₩ (441) | ||
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 | |||
Percentage of ownership (%) | 100% | 100% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 112,117 | ₩ 105,138 | ||
Liabilities | 54,645 | 59,225 | ||
Operating revenue | 296,235 | 270,393 | ||
Net income (loss) attributable to owners | 1,069 | 1,587 | ||
Comprehensive income (loss) attributable to owners | ₩ 11,559 | ₩ 8,010 | ||
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% | 100% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
Disclosure of condensed financial information of significant investments in subsidiaries [Abstract] | ||||
Assets | ₩ 6,456 | ₩ 5,864 | ||
Liabilities | 2,604 | 2,257 | ||
Operating revenue | 7,006 | 6,812 | ||
Net income (loss) attributable to owners | 46 | 57 | ||
Comprehensive income (loss) attributable to owners | ₩ 245 | ₩ 64 | ||
Woori America Bank | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | [2] | Woori America Bank | Woori America Bank | |
Main business | Finance | Finance | ||
Percentage of ownership (%) | 100% | 100% | ||
Location | America | America | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 100% | ||
Location | Hong Kong | Hong Kong | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 100% | ||
Location | China | China | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
AO Woori Bank | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | [3] | AO Woori Bank | AO Woori Bank | |
Main business | Finance | Finance | ||
Percentage of ownership (%) | 100% | 100% | ||
Location | Russia | Russia | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
PT Bank Woori Saudara Indonesia 1906 Tbk | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | [2] | PT Bank Woori Saudara Indonesia 1906 Tbk | PT Bank Woori Saudara Indonesia 1906 Tbk | |
Main business | Finance | Finance | ||
Percentage of ownership (%) | 84.20% | 84.20% | ||
Location | Indonesia | Indonesia | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 100% | ||
Location | Brazil | Brazil | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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, 2022 | Dec. 31, 2021 | ||
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% | 100% | ||
Location | Myanmar | Myanmar | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 51% | ||
Location | Philippines | Philippines | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 100% | ||
Location | Vietnam | Vietnam | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
Woori Bank (Cambodia) PLC | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | [4] | Woori Bank (Cambodia) PLC | Woori Bank (Cambodia) PLC | |
Main business | Finance | Finance | ||
Percentage of ownership (%) | 100% | 100% | ||
Location | Cambodia | Cambodia | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
Woori Bank Europe | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | [2] | Woori Bank Europe | Woori Bank Europe | |
Main business | Finance | Finance | ||
Percentage of ownership (%) | 100% | 100% | ||
Location | Germany | Germany | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 | 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% | 15% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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. | ||
Deogi Dream Fourth Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | [5],[6] | Deogi Dream Fourth Co., Ltd | Deogi Dream Fourth Co., Ltd | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 0% | |||
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 | 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. Companies are excluded from the consolidation as of December 31, 2022. | 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. Companies are excluded from the consolidation as of December 31, 2022. | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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],[6] | Woori Display 1st Co., Ltd | Woori Display 1st Co., Ltd | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 0% | |||
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 | 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. Companies are excluded from the consolidation as of December 31, 2022. | 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. Companies are excluded from the consolidation as of December 31, 2022. | ||
Tiger Eyes 2nd Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | [5],[6] | Tiger Eyes 2nd Co., Ltd | Tiger Eyes 2nd Co., Ltd | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 0% | |||
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 | 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. Companies are excluded from the consolidation as of December 31, 2022. | 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. Companies are excluded from the consolidation as of December 31, 2022. | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | |||
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 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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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. | Woori Display 3rd Co. | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 0% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 3rd Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | [5],[6] | Woori-HJ 3rd Co., Ltd | Woori-HJ 3rd Co., Ltd | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 0% | |||
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 | 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. Companies are excluded from the consolidation as of December 31, 2022. | 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. Companies are excluded from the consolidation as of December 31, 2022. | ||
Woori K 2nd Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | [5],[6] | Woori K 2nd Co., Ltd. | Woori K 2nd Co., Ltd. | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 0% | |||
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 | 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. Companies are excluded from the consolidation as of December 31, 2022. | 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. Companies are excluded from the consolidation as of December 31, 2022. | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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],[6] | Quantum Jump the 1st Co., Ltd | Quantum Jump the 1st Co., Ltd | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 0% | |||
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 | 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. Companies are excluded from the consolidation as of December 31, 2022. | 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. Companies are excluded from the consolidation as of December 31, 2022. | ||
Woori BK the 1st Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | [5],[6] | Woori BK the 1st Co., Ltd | Woori BK the 1st Co., Ltd | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 0% | |||
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 | 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. Companies are excluded from the consolidation as of December 31, 2022. | 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. Companies are excluded from the consolidation as of December 31, 2022. | ||
Woori-HC 1st Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | [5],[6] | Woori-HC 1st Co., Ltd | Woori-HC 1st Co., Ltd | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 0% | |||
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 | 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. Companies are excluded from the consolidation as of December 31, 2022. | 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. Companies are excluded from the consolidation as of December 31, 2022. | ||
Wivi Synergy 1st Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | [5],[6] | Wivi Synergy 1st Co.,Ltd. | Wivi Synergy 1st Co.,Ltd. | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 0% | |||
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 | 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. Companies are excluded from the consolidation as of December 31, 2022. | 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. Companies are excluded from the consolidation as of December 31, 2022. | ||
ATLANTIC TRANSPORTATION 1 S.A. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | [5] | ATLANTIC TRANSPORTATION 1 S.A | ATLANTIC TRANSPORTATION 1 S.A | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 0% | 0% | ||
Location | Marshall islands | Marshall islands | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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. | Woori Park I 1st co. | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 0% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 H chemical 1st Co.,Ltd | Woori H chemical 1st Co.,Ltd | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 0% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 HO First Co Ltd | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | [5] | Woori HO 1th Co., Ltd | Woori HO 1th Co., Ltd | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 0% | |||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 ESG First Co Ltd | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | [5] | Woori ESG 1st Co.,Ltd | Woori ESG 1st Co.,Ltd | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 0% | |||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 Osiria First Co Limited | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | [5] | Woori Osiria 1st Co.,Ltd | Woori Osiria 1st Co.,Ltd | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 0% | |||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 Second Co Limited | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | [5] | Woori Eco 2nd Co.,Ltd. | Woori Eco 2nd Co.,Ltd. | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 0% | |||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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. | ||
Gangnam Landmark Second Co Ltd | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | [5] | Gangnam Landmark 2nd Co | Gangnam Landmark 2nd Co | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 0% | |||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 Hp The First Co Limited | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | [5] | Woori HP the 1st co.,Ltd. | Woori HP the 1st co.,Ltd. | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 0% | |||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2022 | ||
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 | [6],[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% | |||
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 | 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. Companies are excluded from the consolidation as of December 31, 2022. | 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. Companies are excluded from the consolidation as of December 31, 2022. | ||
Heungkuk Global Private Placement Investment Trust No. 1 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | [7] | 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% | 98.80% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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. | ||
AI Partners UK Water Supply Private Placement Investment Trust No.2 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | [7] | AI Partners UK Water Supply Private Placement Investment Trust 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, 2022 | Dec. 31, 2021 | ||
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. | ||
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% | 99% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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] | 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, 2022 | Dec. 31, 2021 | ||
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. | ||
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, 2022 | Dec. 31, 2021 | ||
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] | Woori G Japan General Type Private Real Estate Feeder Investment Trust No.1-2 | Woori G Japan General Type Private Real Estate Feeder Investment Trust No.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, 2022 | Dec. 31, 2021 | ||
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 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 Fund No. 316-1 | IGIS Global Private Placement Real Estate Fund No. 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, 2022 | Dec. 31, 2021 | ||
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 | Woori G Secondary Private Placement Investment Trust No. 1 | |
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership (%) | 98.30% | 98.10% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 Blind General Type Private Real Estate Feeder Investment Trust No.1 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | [7] | Woori G Japan Blind General Type Private Real Estate Feeder Investment Trust No.1 | Woori G 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 (%) | 99.90% | 99.80% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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. | ||
JBairline Private Placement Investment Trust No.8 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | [7] | JB Airline Private Placement Investment Trust No.8 | JB Airline Private Placement Investment Trust No.8 | |
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership (%) | 97% | 97% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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. | ||
Kiwoom Harmony Private Placement Investment Trust No. 2 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | [7] | Kiwoom Harmony Private Placement Investment Trust No. 2 | Kiwoom Harmony Private Placement Investment Trust No. 2 | |
Main business | Securities investment and others | |||
Percentage of ownership (%) | 97.10% | 97.10% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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. | ||
Kiwoom Harmony Private Placement Investment Trust No.1 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | [7] | 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 (%) | 97.20% | 96% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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. | ||
Principal Guaranteed Trust | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | [8] | Principal Guaranteed Trust | Principal Guaranteed Trust | |
Main business | Trust | Trust | ||
Percentage of ownership (%) | 0% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 | [8] | Principal and Interest Guaranteed Trust | Principal and Interest Guaranteed Trust | |
Main business | Trust | Trust | ||
Percentage of ownership (%) | 0% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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, 2022 | Dec. 31, 2021 | ||
ADP 16 Brussels | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | MAGI No.5 LuxCo S.a.r.l. | MAGI No.5 LuxCo S.a.r.l. | ||
Subsidiaries | ADP 16 Brussels | ADP 16 Brussels | ||
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 99.90% | 99.90% | ||
Location | Belgium | Belgium | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
TUTU Finance –WCI Myanmar Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Card Co., Ltd. | Woori Card Co., Ltd. | ||
Subsidiaries | TUTU Finance –WCI Myanmar Co., Ltd. | TUTU Finance –WCI Myanmar Co., Ltd. | ||
Main business | Finance | Finance | ||
Percentage of ownership (%) | 100% | 100% | ||
Location | Myanmar | Myanmar | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
Woori Card one of 2018-1 Securitization Specialty Co., Ltd | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Card Co., Ltd. | Woori Card Co., Ltd. | ||
Subsidiaries | [5],[6] | Woori Card 2018-1 Securitization Specialty Co., Ltd. | Woori Card 2018-1 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 | 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. Companies are excluded from the consolidation as of December 31, 2022. | 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. Companies are excluded from the consolidation as of December 31, 2022. | ||
Woori Card 2019-1 Asset Securitization Specialty Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Card Co., Ltd. | 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, 2022 | Dec. 31, 2021 | ||
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 | Woori Card Co., Ltd. | 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, 2022 | Dec. 31, 2021 | ||
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 | Woori Card Co., Ltd. | 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, 2022 | Dec. 31, 2021 | ||
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 2022-1 Asset Securitization Specialty Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Card Co., Ltd. | Woori Card Co., Ltd. | ||
Subsidiaries | [5] | Woori Card 2022-1 Asset Securitization Specialty Co., Ltd. | Woori Card 2022-1 Asset Securitization Specialty Co., Ltd. | |
Main business | Asset securitization | Asset securitization | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 2022-2 Asset Securitization Specialty Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Card Co., Ltd. | Woori Card Co., Ltd. | ||
Subsidiaries | [5] | Woori Card 2022-2 Asset Securitization Specialty Co., Ltd. | Woori Card 2022-2 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, 2022 | Dec. 31, 2021 | ||
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 2023-1 Asset Securitization Specialty Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Card Co., Ltd. | Woori Card Co., Ltd. | ||
Subsidiaries | [5] | Woori Card 2023-1 Asset Securitization Specialty Co., Ltd. | Woori Card 2023-1 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, 2022 | Dec. 31, 2021 | ||
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 48th Securitization Specialty Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Financial Capital Co., Ltd. | Woori Financial Capital Co., Ltd. | ||
Subsidiaries | [5],[6] | ACE Auto Invest the 48th Securitization Specialty Co., Ltd. | ACE Auto Invest the 48th Securitization Specialty Co., Ltd. | |
Main business | Asset securitization | |||
Percentage of ownership (%) | 1% | |||
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 | 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. Companies are excluded from the consolidation as of December 31, 2022. | 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. Companies are excluded from the consolidation as of December 31, 2022. | ||
ACE Auto Invest the 49th Securitization Specialty Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Financial Capital Co., Ltd. | Woori Financial Capital Co., Ltd. | ||
Subsidiaries | [5],[6] | 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% | |||
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 | 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. Companies are excluded from the consolidation as of December 31, 2022. | 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. Companies are excluded from the consolidation as of December 31, 2022. | ||
Specified Money Market Trust | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Financial Capital Co., Ltd. | Woori Financial Capital Co., Ltd. | ||
Subsidiaries | Specified Money Market Trust | Specified Money Market Trust | ||
Main business | Trust | Trust | ||
Percentage of ownership (%) | 100% | |||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
Seari First Securitization Specialty Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Investment Bank Co., Ltd. | Woori Investment Bank Co., Ltd. | ||
Subsidiaries | [5],[6] | Seari First Securitization Specialty Co., Ltd. | Seari First Securitization Specialty Co., Ltd. | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 5% | |||
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 | 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. Companies are excluded from the consolidation as of December 31, 2022. | 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. Companies are excluded from the consolidation as of December 31, 2022. | ||
Seari Second Securitization Specialty Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Investment Bank Co., Ltd. | 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% | 5% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 | Woori Investment Bank Co., Ltd. | 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% | 5% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 | Woori Investment Bank Co., Ltd. | 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% | 5% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 | Woori Investment Bank Co., Ltd. | 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% | 5% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 | Woori Investment Bank Co., Ltd. | 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% | 5% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 | Woori Investment Bank Co., Ltd. | 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% | 5% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 | Woori Investment Bank Co., Ltd. | 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% | 5% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 | Woori Investment Bank Co., Ltd. | 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% | 5% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 | Woori Investment Bank Co., Ltd. | 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% | 5% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 | Woori Investment Bank Co., Ltd. | 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% | 5% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 | Woori Investment Bank Co., Ltd. | 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% | 5% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 | Woori Investment Bank Co., Ltd. | Woori Investment Bank Co., Ltd. | ||
Subsidiaries | [5],[6] | One Punch Korea the 1st Co., Ltd. | One Punch Korea the 1st Co., Ltd. | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 0% | 0% | ||
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 | 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. Companies are excluded from the consolidation as of December 31, 2022. | 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. Companies are excluded from the consolidation as of December 31, 2022. | ||
One Punch blue the 1st Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Investment Bank Co., Ltd. | Woori Investment Bank Co., Ltd. | ||
Subsidiaries | [5],[6] | One Punch blue the 1st Co., Ltd. | One Punch blue the 1st Co., Ltd. | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 0% | 0% | ||
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 | 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. Companies are excluded from the consolidation as of December 31, 2022. | 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. Companies are excluded from the consolidation as of December 31, 2022. | ||
One Punch red the 1st Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Investment Bank Co., Ltd. | Woori Investment Bank Co., Ltd. | ||
Subsidiaries | [5],[6] | One Punch red the 1st Co., Ltd. | One Punch red the 1st Co., Ltd. | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 0% | 0% | ||
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 | 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. Companies are excluded from the consolidation as of December 31, 2022. | 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. Companies are excluded from the consolidation as of December 31, 2022. | ||
Woori China Convertible Bond Hedging feeder Investment Trust H (debt-oriented hybrid) | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Asset Management Corp. | 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 (%) | 88% | 93.60% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 2025 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Asset Management Corp. | Woori Asset Management Corp. | ||
Subsidiaries | [6],[7] | Woori Together TDF 2025 | Woori Together TDF 2025 | |
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership (%) | 0% | 34.10% | ||
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 | 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. Companies are excluded from the consolidation as of December 31, 2022. | |||
Woori Together TDF 2030 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Asset Management Corp. | Woori Asset Management Corp. | ||
Subsidiaries | [6],[7] | Woori Together TDF 2030 | Woori Together TDF 2030 | |
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership (%) | 0% | 32.30% | ||
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 | 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. Companies are excluded from the consolidation as of December 31, 2022. | 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. Companies are excluded from the consolidation as of December 31, 2022. | ||
Woori Together TDF 2035 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Asset Management Corp. | 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 (%) | 57.10% | 56% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 | Woori Asset Management Corp. | 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 (%) | 58.30% | 55.70% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 | Woori Asset Management Corp. | 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 (%) | 69.30% | 65.20% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | |||
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 | Woori Asset Management Corp. | 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 (%) | 66.30% | 63.60% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 | Woori Asset Management Corp. | Woori Asset Management Corp. | ||
Subsidiaries | [6],[7] | Woori Star50 Feeder Fund(H) | Woori Star50 Feeder Fund(H) | |
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership (%) | 0% | 44.80% | ||
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 | 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. Companies are excluded from the consolidation as of December 31, 2022. | 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. Companies are excluded from the consolidation as of December 31, 2022. | ||
Woori BIG2 Plus Securities Investment Trust (Balanced Bond) | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Asset Management Corp. | Woori Asset Management Corp. | ||
Subsidiaries | [6],[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 (%) | 0% | 40.80% | ||
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 | 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. Companies are excluded from the consolidation as of December 31, 2022. | 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. Companies are excluded from the consolidation as of December 31, 2022. | ||
Japanese Hotel Real Estate Private Equity Fund 1 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | Woori Financial Capital Co., Ltd., Woori Private Equity Asset Management Co., Ltd. and Woori Investment Bank Co., Ltd. | Woori Financial Capital Co., Ltd., Woori Private Equity Asset Management Co., Ltd. and Woori Investment Bank Co., Ltd. | |
Subsidiaries | [7] | 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% | 100% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 Global Multi Asset Income Private Placement Investment Trust_Class Cs | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Global Asset Management Co., Ltd. | Woori Global Asset Management Co., Ltd. | ||
Subsidiaries | [7] | 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% | 37.90% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 Innovative Growth Professional Investment Type Private Investment Trust No.1 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | 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] | 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% | 90% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 Innovative Growth Professional Investment Type Private Investment Trust No.2 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | 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 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% | 85% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 Innovative Growth New Deal Private Investment Trust No.3 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | 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% | 94.30% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 Woori Tech Company Private Placement Investment Trust No.1 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | Held by Woori bank and Woori Investment Bank Co., Ltd. | Held by Woori bank and Woori Investment Bank Co., Ltd. | |
Subsidiaries | [6],[7] | Heungkuk Woori Tech Company Private Placement Investment Trust No. 1 | Heungkuk Woori Tech Company Private Placement Investment Trust No. 1 | |
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership (%) | 100% | |||
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 | 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. Companies are excluded from the consolidation as of December 31, 2022. | 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. Companies are excluded from the consolidation as of December 31, 2022. | ||
Woori Global Development Infrastructure Synergy Company Private Placement Investment Trust No.1 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | Held by Woori bank and Woori Investment Bank Co., Ltd. | ||
Subsidiaries | [7] | 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% | 100% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 North America Infra Private Placement Investment Trust No. 1 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | Held by Woori bank and Woori Investment Bank Co., Ltd. | Held by Woori bank and Woori Investment Bank Co., Ltd. | |
Subsidiaries | [7] | Woori G NorthAmerica Infra Private Placement Investment Trust No. 1 | Woori G NorthAmerica Infra Private Placement Investment Trust No. 1 | |
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership (%) | 100% | 100% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 Infrastructure New Deal Specialized Investment Private Equity Investment Trust No. 1 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | Held by Woori bank and Woori Investment Bank Co., Ltd. | Held by Woori bank and Woori Investment Bank Co., Ltd. | |
Subsidiaries | [7] | 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% | 100% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 General Type Private Real Estate Investment Trust No.2 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | Held by Woori bank and Woori Investment Bank Co., Ltd. | Held by Woori bank and Woori Investment Bank Co., Ltd. | |
Subsidiaries | [7] | Woori G General Type Private Real Estate Investment Trust No.2 | Woori G General Type Private Real Estate Investment Trust No.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, 2022 | Dec. 31, 2021 | ||
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 ESG Infrastructure Development General Type Private Investment Trust No.1 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | Held by Woori bank and Woori Investment Bank Co., Ltd. | Held by Woori bank and Woori Investment Bank Co., Ltd. | |
Subsidiaries | [7] | Woori G ESG Infrastructure Development General Type Private Investment Trust No.1 | Woori G ESG Infrastructure Development General Type Private Investment Trust No.1 | |
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership (%) | 100% | 100% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 General Type Private Real Estate Investment Trust No.1 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | Held by Woori bank | Held by Woori bank | |
Subsidiaries | [7] | Woori G General Type Private Real Estate Investment Trust No.1 | Woori G General Type Private Real Estate Investment Trust No.1 | |
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership (%) | 80% | 80% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 Seoul- Chuncheon Highway Private Placement Special Asset Investment Trust No.1 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | Held by Woori G Infrastructure New Deal General Type Private Investment Trust | Held by Woori G Infrastructure New Deal General Type Private Investment Trust | |
Subsidiaries | [7] | Woori Seoul- Chuncheon Highway Private Placement Special Asset Investment Trust No.1 | Woori Seoul- Chuncheon Highway Private Placement Special Asset Investment Trust No.1 | |
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership (%) | 48% | |||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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. | ||
GK Woorido | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Held by Woori G Private Placement Investment Trust No. 3 | Held by Woori G Private Placement Investment Trust No. 3 | ||
Subsidiaries | GK Woorido | GK Woorido | ||
Main business | Other financial services | Other financial services | ||
Percentage of ownership (%) | 100% | |||
Location | Japan | Japan | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
Woori G Private Placement Investment Trust No. 3 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | Held by Woori G Japan Blind General Type Private Real Estate Feeder Investment Trust No.1 | Held by Woori G Japan Blind General Type Private Real Estate Feeder Investment Trust No.1 | |
Subsidiaries | [7] | Woori G Private Placement Investment Trust No. 3 | Woori G Private Placement Investment Trust No. 3 | |
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership (%) | 76.50% | |||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | [10] | Dec. 31, 2021 | |
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 FG Digital Investment Fund 1st | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | Held by Woori Bank, Woori Card Co., Woori Financial Capital Co., Ltd. and Woori Investment Bank Co., Ltd. | Held by Woori Bank, Woori Card Co., Woori Financial Capital Co., Ltd. and Woori Investment Bank Co., Ltd. | |
Subsidiaries | [7] | Woori FG Digital Investment Fund 1st | Woori FG Digital Investment Fund 1st | |
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership (%) | 100% | |||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 Busan Logistics Infra Private Placement Special Asset Investment Trust | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | Held by Woori Bank and Woori Financial Capital Co., Ltd. | Held by Woori Bank and Woori Financial Capital Co., Ltd. | |
Subsidiaries | [7] | Woori Busan Logistics Infra Private Placement Special Asset Investment Trust | Woori Busan Logistics Infra Private Placement Special Asset Investment Trust | |
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership (%) | 100% | |||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 Equity Investment General Type Private Investment Trust No.1 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | Held by Woori Bank and Woori Financial Capital Co., Ltd. | Held by Woori Bank and Woori Financial Capital Co., Ltd. | |
Subsidiaries | [7] | Woori G Equity Investment General Type Private Investment Trust No.1 | Woori G Equity Investment General Type Private Investment Trust No.1 | |
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership (%) | 100% | |||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 Renewable New Deal Fund No.1 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | Held by Woori Bank and Woori Financial Capital Co., Ltd. | Held by Woori Bank and Woori Financial Capital Co., Ltd. | |
Subsidiaries | [7] | Woori G Renewable New Deal Fund No.1 | Woori G Renewable New Deal Fund No.1 | |
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership (%) | 60% | |||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 Government Bond MMF C/I | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | Held by Woori bank | Held by Woori bank | |
Subsidiaries | [7] | Woori G Government Bond MMF C/I | Woori G Government Bond MMF C/I | |
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership (%) | 46% | |||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 Senior Loan General Type Private Investment Trust No.2 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | Held by Woori bank | Held by Woori bank | |
Subsidiaries | [7] | Woori G Senior Loan General Type Private Investment Trust No.2 | Woori G Senior Loan General Type Private Investment Trust No.2 | |
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership (%) | 50% | |||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 General Type Private Real Estate Investment Trust No.5 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | Held by Woori bank | Held by Woori bank | |
Subsidiaries | [7] | Woori G General Type Private Real Estate Investment Trust No.5 | Woori G General Type Private Real Estate Investment Trust No.5 | |
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership (%) | 86.80% | 87% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 Woori Bank Partners Professional Type Private Investment Trust No. 2 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | Held by Woori bank | Held by Woori bank | |
Subsidiaries | [7] | 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% | 90.90% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 Global Mid-market Secondary General Type Private Investment Trust No.1(EUR) | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | Held by Woori bank | Held by Woori bank | |
Subsidiaries | Woori G Global Mid-market Secondary General Type Private Investment Trust No.1(EUR) | Woori G 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% | 80% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 WooriBank Partners General Type Private Investment Trust No.1 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | Held by Woori bank | Held by Woori bank | |
Subsidiaries | [7] | Woori G WooriBank Partners General Type Private Investment Trust No.1 | Woori G 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, 2022 | Dec. 31, 2021 | ||
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 New Deal(Infrastructure) Policy Fund No.1 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | Held by Woori Bank, Woori Financial Capital Co., Ltd., and Woori Global Asset Management Co., Ltd | Held by Woori Bank, Woori Financial Capital Co., Ltd., and Woori Global Asset Management Co., Ltd | |
Subsidiaries | [7] | Woori G New Deal(Infrastructure) Policy Fund No.1 | Woori G New Deal(Infrastructure) Policy Fund No.1 | |
Main business | Securities investment and others | |||
Percentage of ownership (%) | 70% | |||
Location | Korea | |||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 GP Commitment Loan General Type Private Investment Trust No.2 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | 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] | Woori G GP Commitment Loan General Type Private Investment Trust No.2 | Woori G GP Commitment Loan General Type Private Investment Trust No.2 | |
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership (%) | 100% | |||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
Woori G Equity Bridge Loan General Type Private Investment Trust No.1 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | 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] | Woori G Equity Bridge Loan General Type Private Investment Trust No.1 | Woori G Equity Bridge Loan General Type Private Investment Trust No.1 | |
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership (%) | 80% | 80% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
Woori G GP Commitment Loan General Type Private Investment Trust No.1 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | 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] | Woori G GP Commitment Loan General Type Private Investment Trust No.1 | Woori G GP Commitment Loan General Type Private Investment Trust No.1 | |
Main business | Securities investment and others | |||
Percentage of ownership (%) | 100% | 100% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
Woori G Happy Retirement Lifetime Income TIF Mixed Asset Investment Trust[FoF] C(Y) | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Global Asset Management Co., Ltd. | Woori Global Asset Management Co., Ltd. | ||
Subsidiaries | [7] | Woori G Happy Retirement Lifetime Income TIF Mixed Asset Investment Trust[FoF] C(Y) | Woori G Happy Retirement Lifetime Income TIF Mixed Asset Investment Trust[FoF] C(Y) | |
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership (%) | 99.30% | |||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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. | ||
WK2212 Asset Securitization Specialty Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Financial F&I Co., Ltd. | Woori Financial F&I Co., Ltd. | ||
Subsidiaries | [5] | WK2212 Asset Securitization Specialty Co., Ltd. | WK2212 Asset Securitization Specialty Co., Ltd. | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 5% | |||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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. | ||
WN2212 Asset Securitization Specialty Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Financial F&I Co., Ltd. | Woori Financial F&I Co., Ltd. | ||
Subsidiaries | [5] | WN2212 Asset Securitization Specialty Co., Ltd. | WN2212 Asset Securitization Specialty Co., Ltd. | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 5% | |||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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. | ||
WI2209 Securitization Specialty Co., Ltd | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Financial F&I Co., Ltd. | Woori Financial F&I Co., Ltd. | ||
Subsidiaries | [5] | WI2209 Securitization Specialty Co., Ltd | WI2209 Securitization Specialty Co., Ltd | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 5% | |||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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. | ||
WNI2206 Asset Securitization Specialty Co., Ltd | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Financial F&I Co., Ltd. | Woori Financial F&I Co., Ltd. | ||
Subsidiaries | [5] | WNI2206 Asset Securitization Specialty Co., Ltd | WNI2206 Asset Securitization Specialty Co., Ltd | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 5% | |||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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. | ||
WM2203 Asset Securitization Specialty Co., Ltd | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Financial F&I Co., Ltd. | Woori Financial F&I Co., Ltd. | ||
Subsidiaries | [5] | WM2203 Asset Securitization Specialty Co., Ltd | WM2203 Asset Securitization Specialty Co., Ltd | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 5% | |||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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. | ||
WI2203 Securitization Specialty Co., Ltd. | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Financial F&I Co., Ltd. | Woori Financial F&I Co., Ltd. | ||
Subsidiaries | [5] | WI2203 Securitization Specialty Co., Ltd. | WI2203 Securitization Specialty Co., Ltd. | |
Main business | Asset securitization | Asset securitization | ||
Percentage of ownership (%) | 5% | 0% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 Multi Return Private Equity 2 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Asset Management Corp. | Woori Asset Management Corp. | ||
Subsidiaries | [7] | Woori Multi Return Private Equity 2 | Woori Multi Return Private Equity 2 | |
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership (%) | 30.90% | |||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 High Graded Bond Target Return Fund 1 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Asset Management Corp. | Woori Asset Management Corp. | ||
Subsidiaries | [7] | Woori High Graded Bond Target Return Fund 1 | Woori High Graded Bond Target Return Fund 1 | |
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership (%) | 77% | |||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 OCIO Target Return Feeder fund | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Asset Management Corp. | Woori Asset Management Corp. | ||
Subsidiaries | [7] | Woori Together OCIO Target Return Feeder fund | Woori Together OCIO Target Return Feeder fund | |
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership (%) | 81.20% | |||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 OCIO Target Return Master fund | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Asset Management Corp. | Woori Asset Management Corp. | ||
Subsidiaries | [7],[11] | Woori Together OCIO Target Return Master fund | Woori Together OCIO Target Return Master fund | |
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership (%) | 100% | |||
Location | Korea | |||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 Franklin Technology Feeder Fund (H) | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Asset Management Corp. | Woori Asset Management Corp. | ||
Subsidiaries | [7] | Woori Franklin Technology Feeder Fund (H) | Woori Franklin Technology Feeder Fund (H) | |
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership (%) | 71.80% | |||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 Franklin Technology Master Fund (USD) | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Asset Management Corp. | Woori Asset Management Corp. | ||
Subsidiaries | [7],[11] | Woori Franklin Technology Master Fund (USD) | Woori Franklin Technology Master Fund (USD) | |
Main business | Securities investment and others | Securities investment and others | ||
Percentage of ownership (%) | 91.10% | |||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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. As a master-feeder fund, it is the percentage of the feeder fund’s ownership in the master 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. As a master-feeder fund, it is the percentage of the feeder fund’s ownership in the master fund. | ||
Kiwoom Frontier Private Investment Trust No.23[Bond] | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Bank | Woori Bank | ||
Subsidiaries | [7] | Kiwoom Frontier Private Investment Trust No.23[Bond] | Kiwoom Frontier Private Investment Trust No.23[Bond] | |
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, 2022 | Dec. 31, 2021 | ||
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. | ||
PT Woori Finance Indonesia Tbk [Member] | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | Woori Card Co., Ltd. | Woori Card Co., Ltd. | ||
Subsidiaries | PT Woori Finance Indonesia Tbk. | PT Woori Finance Indonesia Tbk. | ||
Main business | Finance | Finance | ||
Percentage of ownership (%) | 82% | |||
Location | Indonesia | Indonesia | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
Woori G Japan Private Placement Real Estate Feeder Investment Trust No.1-1 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | Held by Woori Financial Capital Co., Ltd | Held by Woori Financial Capital Co., Ltd | |
Subsidiaries | [7] | 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, 2022 | Dec. 31, 2021 | ||
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 Japan Private Placement Real Estate Master Investment Trust No.1 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | 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] | 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% | 100% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 Japan Private Placement Real Estate Master Investment Trust No.2-1 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | 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] | 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% | 100% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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 Japan Private Placement Real Estate Master Investment Trust No.2 | ||||
Significant investments in subsidiaries [Abstract] | ||||
Investor | [9] | 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] | 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% | 100% | ||
Location | Korea | Korea | ||
Financial statements date of use | Dec. 31, 2022 | Dec. 31, 2021 | ||
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. | ||
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 | [10] | Oct. 31, 2022 | Oct. 31, 2021 | |
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]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.[2]Additional investment occurred made for year ended December 31, 2021.[3]The Russia—Ukraine conflict has been escalated in February 2022, Russia is imposed to the international sanctions. Due to the sanctions, the lack of liquidity in the Russian 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, decrease in the profit. As of December 31, 2022, 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.[4]The Parent company’s subsidiary WB Finance Co., Ltd. has changed the name to WOORI BANK (CAMBODIA) PLC.[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, 2022.[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]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.[9]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.[10]As the financial statements for the end of the reporting period were not available, the most recent financial statements available from the date of settlement were used.[11]As a master-feeder fund, it is the percentage of the feeder fund’s ownership in the master fund. |
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% |
General - Unconsolidated compan
General - Unconsolidated companies with more than 50 Percent ownership interests (Details) | 12 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | ||||
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 | [1] | Korea | Korea | ||
Main Business | [1] | Securities Investment | Securities Investment | ||
Percentage of ownership | [1] | 57.60% | 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 | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. 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 | [1] | Korea | Korea | ||
Main Business | [1] | Securities Investment | Securities Investment | ||
Percentage of ownership | [1] | 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 | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. 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 | IGIS Europe Private Placement Real Estate Fund No. 163-2 | [2] | IGIS Europe Private Placement Real Estate Fund No. 163-2 | ||
Location | [2] | Korea | Korea | [3] | |
Main Business | [2] | Securities Investment | Securities Investment | [3] | |
Percentage of ownership | [2] | 97.80% | 97.90% | [3] | |
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 | IGIS Global Private Placement Real Estate Fund No. 148-1 | ||
Location | [1] | Korea | Korea | [3] | |
Main Business | [1] | Securities Investment | Securities Investment | [3] | |
Percentage of ownership | [1] | 75% | 75% | [3] | |
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 | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. 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 | IGIS Global Private Placement Real Estate Fund No. 148-2 | ||
Location | [1] | Korea | Korea | [3] | |
Main Business | [1] | Securities Investment | Securities Investment | [3] | |
Percentage of ownership | [1] | 75% | 75% | [3] | |
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 | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. 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 | Mirae Asset Seoul Ring Expressway Private Special Asset Fund No. 1 | ||
Location | [1] | Korea | Korea | [3] | |
Main Business | [1] | Securities Investment | Securities Investment | [3] | |
Percentage of ownership | [1] | 66.70% | 66.70% | [3] | |
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 | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. 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 | Hangkang Sewage Treatment Plant Fund | ||
Location | [1] | Korea | Korea | [3] | |
Main Business | [1] | Securities Investment | Securities Investment | [3] | |
Percentage of ownership | [1] | 55.60% | 55.60% | [3] | |
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 | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. 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 | |||||
Disclosure of information about unconsolidated subsidiaries [line items] | |||||
Name of subsidiary | [1] | Korea Investment Pocheon Hwado Expressway Professional Investment Fund | Korea Investment Pocheon Hwado Expressway Professional Investment Fund | ||
Location | [1] | Korea | Korea | [3] | |
Main Business | [1] | Securities Investment | Securities Investment | [3] | |
Percentage of ownership | [1] | 55.20% | 55.20% | [3] | |
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 | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. 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 | Midas Global Private Placement Real Estate Investment Trust No. 7-2 | ||
Location | [1] | Korea | Korea | [3] | |
Main Business | [1] | Securities Investment | Securities Investment | [3] | |
Percentage of ownership | [1] | 58.30% | 58.30% | [3] | |
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 | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. 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 | Together-Korea Government Private Pool Private Securities Investment Trust No.3 | [4] | Together-Korea Government Private Pool Private Securities Investment Trust No.3 | ||
Location | [4] | Korea | Korea | [3] | |
Main Business | [4] | Securities Investment | Securities Investment | [3] | |
Percentage of ownership | [4] | 100% | 100% | [3] | |
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 | INMARK France Private Placement Investment Trust No. 18-1 | ||
Location | [1] | Korea | Korea | [3] | |
Main Business | [1] | Securities Investment | Securities Investment | [3] | |
Percentage of ownership | [1] | 93.80% | 93.80% | [3] | |
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 | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. 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 | Kiwoom Vibrato Private Placement Investment Trust 1-W(EUR) | [2] | Kiwoom Vibrato Private Placement Investment Trust 1-W(EUR) | ||
Location | [2] | Korea | Korea | [3] | |
Main Business | [2] | Securities Investment | Securities Investment | [3] | |
Percentage of ownership | [2] | 99.50% | 99.50% | [3] | |
KOTAM Global Infrastructure Private Equity Investment Trust No. 1-4 | |||||
Disclosure of information about unconsolidated subsidiaries [line items] | |||||
Name of subsidiary | KOTAM Global Infrastructure Private Equity Investment Trust No. 1-4 | ||||
Location | [2] | Korea | |||
Main Business | [2] | Securities Investment | |||
Percentage of ownership | [2] | 99.70% | |||
KOTAM Global Infra Private Fund 1-4 | |||||
Disclosure of information about unconsolidated subsidiaries [line items] | |||||
Name of subsidiary | [2] | KOTAM Global Infra Private Fund 1-4 | |||
Location | [2] | Korea | |||
Main Business | [2] | Securities Investment | |||
Percentage of ownership | [2] | 99.70% | |||
Hana UBS Class One Private Equity No. 3 C2 | |||||
Disclosure of information about unconsolidated subsidiaries [line items] | |||||
Name of subsidiary | [1] | Hana UBS Class One Private Equity No. 3 C2 | |||
Location | [1] | Korea | |||
Main Business | [1] | Securities Investment | |||
Percentage of ownership | [1] | 51% | |||
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 | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. | ||||
UBSHana Class 1 Special Asset Investment Trust 3 Class C 2 | |||||
Disclosure of information about unconsolidated subsidiaries [line items] | |||||
Name of subsidiary | [1] | UBSHana Class 1 Special Asset Investment Trust 3 Class C 2 | |||
Location | [1] | Korea | |||
Main Business | [1] | Securities Investment | |||
Percentage of ownership | [1] | 51% | |||
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 | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. 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 Specialized Private Special Asset Investment Trust 1 | |||||
Disclosure of information about unconsolidated subsidiaries [line items] | |||||
Name of subsidiary | [1] | Consus GyeongJu Green Specialized Private Special Asset Investment Trust 1 | Consus Gyeongju Green Private Equity Investment Trust No. 1 | ||
Location | [1] | Korea | Korea | [3] | |
Main Business | [1] | Securities Investment | Securities Investment | [3] | |
Percentage of ownership | [1] | 50% | 50% | [3] | |
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 | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. 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 | |||||
Disclosure of information about unconsolidated subsidiaries [line items] | |||||
Name of subsidiary | [1] | Kiwoom Harmony Private Placement Investment Trust No. 3 | Kiwoom Harmony Private Placement Investment Trust No. 3 | ||
Location | [1] | Korea | Korea | [3] | |
Main Business | [1] | Securities Investment | Securities Investment | [3] | |
Percentage of ownership | [1] | 77.40% | 77.40% | [3] | |
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 | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. 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 Truns No.1 | |||||
Disclosure of information about unconsolidated subsidiaries [line items] | |||||
Name of subsidiary | [1] | Consus Solar Energy Private Placement Investment Truns No.1 | Consus Solar Energy Private Placement Investment Truns No.1 | ||
Location | [1] | Korea | Korea | ||
Main Business | [1] | Securities Investment | Securities Investment | ||
Percentage of ownership | [1] | 50% | 50% | ||
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 | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. | |||
IGIS ESG General Private Investment Trust No.1 | |||||
Disclosure of information about unconsolidated subsidiaries [line items] | |||||
Name of subsidiary | [1] | IGIS ESG General Private Investment Trust No.1 | |||
Location | [1] | Korea | |||
Main Business | [1] | Securities Investment | |||
Percentage of ownership | [1] | 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 | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. | ||||
Kiwoom Aurora Geneal Type Private Placement Investment Trust No. 2 | |||||
Disclosure of information about unconsolidated subsidiaries [line items] | |||||
Name of subsidiary | [1] | Kiwoom Aurora Geneal Type Private Placement Investment Trust No. 2 | |||
Location | [1] | Korea | |||
Main Business | [1] | Securities Investment | |||
Percentage of ownership | [1] | 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 | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. | ||||
NH-Amundi WSCP VIII Private Fund 2 | |||||
Disclosure of information about unconsolidated subsidiaries [line items] | |||||
Name of subsidiary | [1] | NH-Amundi WSCP VIII Private Fund 2 | |||
Location | [1] | Korea | |||
Main Business | [1] | Securities Investment | |||
Percentage of ownership | [1] | 65.20% | |||
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 | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. | ||||
AI Partners Global Infrastructure Specialized Privately Placed Feeder Fund Trust No. 2 | |||||
Disclosure of information about unconsolidated subsidiaries [line items] | |||||
Name of subsidiary | [2] | AI Partners Global Infrastructure Specialized Privately Placed Feeder Fund Trust No. 2 | |||
Location | [2] | Korea | |||
Main Business | [2] | Securities Investment | |||
Percentage of ownership | [2] | 100% | |||
Hangang new deal infra BTL fund 4 | |||||
Disclosure of information about unconsolidated subsidiaries [line items] | |||||
Name of subsidiary | [1] | Hangang new deal infra BTL fund 4 (HNBF4) | |||
Location | [1] | Korea | |||
Main Business | [1] | Securities Investment | |||
Percentage of ownership | [1] | 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 | The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. | ||||
Rifa Qualified Investors Private Real Estate Investment Trust No.40 | |||||
Disclosure of information about unconsolidated subsidiaries [line items] | |||||
Name of subsidiary | [2] | Rifa Qualified Investors Private Real Estate Investment Trust No.40 | |||
Location | [2] | Korea | |||
Main Business | [2] | Securities Investment | |||
Percentage of ownership | [2] | 55% | |||
[1]The Group does not have power over the discretionary fund because the fund manager has the sole authority to decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest.[2]The Group does not have power over the fund of funds because the Group cannot decide the relevant activities of the fund through the related contract. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest.[3]In accordance with the amendment to the Capital Market Act, a specialized investment type private equity fund has been changed to a general private equity fund during the prior period.[4]The Group does not have power over the stock market stabilization fund as the fund’s relevant activities are determined by the management committee, over which the Group does not have substantial control. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. |
General - Limitations on transf
General - Limitations on transfer of assets or the redemption of liabilities within the Group (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of information about consolidated structured entities [line items] | ||
Purchase commitment | ₩ 2,545,164 | ₩ 2,263,387 |
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 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. | |
Credit facilities provided to structured entities | As of December 31, 2021 and 2022, the Group provides 2,480,131 million Won and 231,309 million Won 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 acquires 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, 2021 and 2022, the Group provides 2,480,131 million Won and 231,309 million Won 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, 2021 and 2022, the Group provides 2,480,131 million Won and 231,309 million Won 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, 2022 | Dec. 31, 2021 | |
Disclosure of unconsolidated structured entities [line items] | ||
Purchase commitment | ₩ 2,545,164 | ₩ 2,263,387 |
Investments in MMF(Money Market Funds) | 875,470 | 853,140 |
Asset securitization | ||
Disclosure of unconsolidated structured entities [line items] | ||
The maximum exposure to risks | 8,153,111 | 8,739,034 |
Investment assets | 8,051,144 | 8,518,101 |
Purchase commitment | 0 | |
Credit offerings and others | 101,967 | 220,933 |
Loss recognized on unconsolidated structured entities | ₩ 0 | ₩ 183 |
Disclosure of information about interests in structured entity | Unconsolidated structured entities classified as ‘asset securitization’ are entities that issue asset-backed securities, pay the principal and interest or distributes dividends on asset-backed securities through borrowings or profits from the management, operation and sale of securitized assets. The Group 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’ are entities that issue asset-backed securities, pay the principal and interest or distributes dividends on asset-backed securities through borrowings or profits from the management, operation and sale of securitized assets. The Group 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 | Assets [member] | ||
Disclosure of unconsolidated structured entities [line items] | ||
Total asset of the unconsolidated structured entities | ₩ 14,856,750 | ₩ 15,640,521 |
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 8,051,144 | 8,518,101 |
Asset securitization | Financial assets at FVTPL | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 258,552 | 374,423 |
Asset securitization | Financial assets at FVTOCI | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 3,213,331 | 3,878,882 |
Asset securitization | Financial assets at amortized cost | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 4,579,261 | 4,264,626 |
Asset securitization | Investments in joint ventures and associates | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 0 | 0 |
Asset securitization | Derivative assets | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 0 | 170 |
Asset securitization | Derivative liabilities | ||
Disclosure of unconsolidated structured entities [line items] | ||
Liabilities recognized in the consolidated financial statements related to the unconsolidated structured entities | 729 | 0 |
Asset securitization | Other liabilities (provisions) | ||
Disclosure of unconsolidated structured entities [line items] | ||
Liabilities recognized in the consolidated financial statements related to the unconsolidated structured entities | 95 | 677 |
Asset securitization | Liabilities [member] | ||
Disclosure of unconsolidated structured entities [line items] | ||
Liabilities recognized in the consolidated financial statements related to the unconsolidated structured entities | 824 | 677 |
Structured finance [Member] | ||
Disclosure of unconsolidated structured entities [line items] | ||
The maximum exposure to risks | 6,086,831 | 5,728,977 |
Investment assets | 5,537,836 | 4,633,475 |
Purchase commitment | 0 | |
Credit offerings and others | 548,995 | 1,095,502 |
Loss recognized on unconsolidated structured entities | ₩ 17,388 | ₩ 11,872 |
Disclosure of information about interests in structured entity | Unconsolidated structured entities classified as ‘structured finance’ 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 finance’ 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 | ₩ 82,724,618 | ₩ 94,969,317 |
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 5,537,836 | 4,633,475 |
Structured finance [Member] | Financial assets at FVTPL | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 6,642 | 5,021 |
Structured finance [Member] | Financial assets at FVTOCI | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 45,735 | 46,478 |
Structured finance [Member] | Financial assets at amortized cost | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 5,485,336 | 4,579,367 |
Structured finance [Member] | Investments in joint ventures and associates | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 0 | 0 |
Structured finance [Member] | Derivative assets | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 123 | 2,609 |
Structured finance [Member] | Derivative liabilities | ||
Disclosure of unconsolidated structured entities [line items] | ||
Liabilities recognized in the consolidated financial statements related to the unconsolidated structured entities | 4,975 | 673 |
Structured finance [Member] | Other liabilities (provisions) | ||
Disclosure of unconsolidated structured entities [line items] | ||
Liabilities recognized in the consolidated financial statements related to the unconsolidated structured entities | 1,631 | 863 |
Structured finance [Member] | Liabilities [member] | ||
Disclosure of unconsolidated structured entities [line items] | ||
Liabilities recognized in the consolidated financial statements related to the unconsolidated structured entities | 6,606 | 1,536 |
Investment Fund | ||
Disclosure of unconsolidated structured entities [line items] | ||
The maximum exposure to risks | 9,322,308 | 4,221,072 |
Investment assets | 4,964,712 | 4,214,747 |
Purchase commitment | 4,352,518 | |
Credit offerings and others | 5,078 | 6,325 |
Loss recognized on unconsolidated structured entities | ₩ 113,976 | ₩ 71,309 |
Disclosure of information about interests in structured entity | Unconsolidated structured entities classified as ‘investment funds’ include investment trusts and private equity funds. An investment trust orders the investment and operation of funds to the trust manager in accordance with trust contract with profits distributed to the investors. Private equity funds finances money required to acquire equity securities to enable direction of management and/or improvement of ownership structure, with profit distributed to the investors. The Group recognizes pro rata amount of dividend income as an investor in the same way as ‘structured finance’, and may be exposed to losses due to reduction in investment value. Investments in MMF(Money Market Funds) as of December 31, 2021 and 2022 are 853,140 million Won and 875,470 million Won, respectively, and there is no additional commitments for MMF. | 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 dividend income as an investor in the same way as ‘structured finance’, and may be exposed to losses due to reduction in investment value. Investments in MMF(Money Market Funds) as of December 31, 2021 and 2022 are 853,140 million Won and 875,470 million Won, respectively, and there is no additional commitments for MMF. |
Investment Fund | Assets [member] | ||
Disclosure of unconsolidated structured entities [line items] | ||
Total asset of the unconsolidated structured entities | ₩ 132,264,383 | ₩ 94,675,732 |
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 4,964,712 | 4,214,747 |
Investment Fund | Financial assets at FVTPL | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 4,397,416 | 3,550,532 |
Investment Fund | Financial assets at FVTOCI | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 0 | 0 |
Investment Fund | Financial assets at amortized cost | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 31,124 | 71,662 |
Investment Fund | Investments in joint ventures and associates | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 535,427 | 592,553 |
Investment Fund | Derivative assets | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 745 | 0 |
Investment Fund | Derivative liabilities | ||
Disclosure of unconsolidated structured entities [line items] | ||
Liabilities recognized in the consolidated financial statements related to the unconsolidated structured entities | 2,091 | 0 |
Investment Fund | Other liabilities (provisions) | ||
Disclosure of unconsolidated structured entities [line items] | ||
Liabilities recognized in the consolidated financial statements related to the unconsolidated structured entities | 0 | 0 |
Investment Fund | Liabilities [member] | ||
Disclosure of unconsolidated structured entities [line items] | ||
Liabilities recognized in the consolidated financial statements related to the unconsolidated structured entities | 2,091 | 0 |
Real estate trust | ||
Disclosure of unconsolidated structured entities [line items] | ||
The maximum exposure to risks | 92,856 | 115,212 |
Investment assets | 40,073 | 54,662 |
Purchase commitment | 0 | |
Credit offerings and others | 52,783 | 60,550 |
Loss recognized on unconsolidated structured entities | ₩ 1,040 | ₩ 282 |
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 | ₩ 1,316,930 | ₩ 1,398,508 |
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 40,073 | 54,662 |
Real estate trust | Financial assets at FVTPL | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 10,480 | 10,665 |
Real estate trust | Financial assets at FVTOCI | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 0 | 0 |
Real estate trust | Financial assets at amortized cost | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 29,593 | 43,997 |
Real estate trust | Investments in joint ventures and associates | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 0 | 0 |
Real estate trust | Derivative assets | ||
Disclosure of unconsolidated structured entities [line items] | ||
Assets recognized in the consolidated financial statements related to the unconsolidated structured entities | 0 | 0 |
Real estate trust | Derivative liabilities | ||
Disclosure of unconsolidated structured entities [line items] | ||
Liabilities recognized in the consolidated financial statements related to the unconsolidated structured entities | 0 | 0 |
Real estate trust | Other liabilities (provisions) | ||
Disclosure of unconsolidated structured entities [line items] | ||
Liabilities recognized in the consolidated financial statements related to the unconsolidated structured entities | 5,760 | 2,964 |
Real estate trust | Liabilities [member] | ||
Disclosure of unconsolidated structured entities [line items] | ||
Liabilities recognized in the consolidated financial statements related to the unconsolidated structured entities | ₩ 5,760 | ₩ 2,964 |
General - Noncontrolling intere
General - Noncontrolling interests (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Woori bank | ||||
Disclosure of subsidiaries [line items] | ||||
Accumulated non-controlling interests at the end of the reporting period | [1] | ₩ 2,344,816 | ₩ 2,555,166 | |
Net income attributable to non-controlling interests | [2] | 113,995 | 144,923 | ₩ 162,362 |
Dividends to non-controlling interests | [2] | 113,995 | 144,923 | 162,362 |
Woori Financial Capital Co., Ltd. | ||||
Disclosure of subsidiaries [line items] | ||||
Net income attributable to non-controlling interests | 0 | 17,949 | 1,466 | |
Dividends to non-controlling interests | 0 | 4,121 | 0 | |
Woori Investment Bank Co., Ltd. | ||||
Disclosure of subsidiaries [line items] | ||||
Accumulated non-controlling interests at the end of the reporting period | 283,221 | 251,879 | ||
Net income attributable to non-controlling interests | 38,319 | 33,274 | 25,643 | |
Dividends to non-controlling interests | 7,219 | 3,610 | 0 | |
Woori Asset Trust Co., Ltd. | ||||
Disclosure of subsidiaries [line items] | ||||
Accumulated non-controlling interests at the end of the reporting period | 78,434 | 60,726 | ||
Net income attributable to non-controlling interests | 18,074 | 11,366 | 9,732 | |
Dividends to non-controlling interests | 365 | 365 | 365 | |
Woori Asset Management Corp. | ||||
Disclosure of subsidiaries [line items] | ||||
Accumulated non-controlling interests at the end of the reporting period | 34,073 | 33,768 | ||
Net income attributable to non-controlling interests | 290 | 2,341 | 1,699 | |
PT Bank Woori Saudara Indonesia 1906 Tbk | ||||
Disclosure of subsidiaries [line items] | ||||
Accumulated non-controlling interests at the end of the reporting period | 92,118 | 87,741 | ||
Net income attributable to non-controlling interests | 10,806 | 8,619 | 6,040 | |
Dividends to non-controlling interests | 2,330 | 1,262 | 1,669 | |
Wealth Development Bank | ||||
Disclosure of subsidiaries [line items] | ||||
Accumulated non-controlling interests at the end of the reporting period | 20,759 | 20,835 | ||
Net income attributable to non-controlling interests | 401 | 928 | 1,130 | |
PT Woori Finance Indonesia Tbk | ||||
Disclosure of subsidiaries [line items] | ||||
Accumulated non-controlling interests at the end of the reporting period | 13,964 | 0 | ||
Net income attributable to non-controlling interests | ₩ 379 | ₩ 0 | ₩ 0 | |
[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, 2022 | |
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, 2022 |
Period covered by financial statements | For the years ended December 31, 2022 |
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 1,260.2 Korean Won to US$1.00, the noon buying exchange rate in effect on December 31, 2022, 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 - Summary of impact on balance sheet as a result of adoption of IFRS 7 (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2021 USD ($) | Jan. 01, 2021 KRW (₩) | Dec. 31, 2020 KRW (₩) | Dec. 31, 2019 KRW (₩) | ||
Disclosure in tabular form of impact on balance sheet as a result of adoption of IFRS 7 [Line Items] | |||||||||
Increase in cash and cash equivalents | ₩ 34,219,148 | $ 27,153,744 | ₩ 20,613,073 | $ 16,356,985 | ₩ 17,343,237 | ₩ 17,753,709 | |||
Decrease in loans and other financial assets at amortized cost | 355,760,729 | [1] | $ 282,304,975 | 348,885,617 | [1] | ||||
Increase (decrease) due to changes in accounting policy required by IFRSs [member] | Increase (decrease) due to changes in accounting policy required by IFRSs, cumulative effect at date of initial application [member] | IFRS 7 [member] | |||||||||
Disclosure in tabular form of impact on balance sheet as a result of adoption of IFRS 7 [Line Items] | |||||||||
Increase in cash and cash equivalents | 22,965,162 | 13,047,255 | ₩ 7,352,253 | ₩ 7,352,253 | |||||
Decrease in loans and other financial assets at amortized cost | ₩ (22,965,162) | ₩ (13,047,255) | ₩ (7,352,253) | ||||||
[1]Cash and cash equivalents are not included. |
Significant basis of preparat_3
Significant basis of preparation and accounting policies - Summary of impact on cash flow statement as a result of adoption of ifrs 7 (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2020 KRW (₩) | |
Disclosure in tabular form of impact on cash flow statement as a result of adoption of IFRS 7 [line items] | ||||
Cash and cash equivalents, beginning of the period | ₩ 20,613,073 | $ 16,356,985 | ₩ 17,343,237 | ₩ 17,753,709 |
Increase in cash flows from operating activities | 13,606,075 | 10,796,759 | 3,269,836 | (410,472) |
Increase in exchange rate changes on cash and cash equivalents denominated in foreign currencies | 30,860 | 24,489 | 1,061,251 | (1,072,912) |
Cash and cash equivalents, end of the period | 34,219,148 | $ 27,153,744 | 20,613,073 | 17,343,237 |
Increase (decrease) due to changes in accounting policy required by IFRSs [member] | Increase (decrease) due to changes in accounting policy required by IFRSs, cumulative effect at date of initial application [member] | IFRS 7 [member] | ||||
Disclosure in tabular form of impact on cash flow statement as a result of adoption of IFRS 7 [line items] | ||||
Cash and cash equivalents, beginning of the period | 13,047,255 | 7,352,253 | ||
Increase in cash flows from operating activities | 9,981,310 | 5,600,710 | ||
Increase in exchange rate changes on cash and cash equivalents denominated in foreign currencies | (63,403) | 94,292 | ||
Net increase in cash and cash equivalents | 9,981,310 | 5,600,710 | ||
Cash and cash equivalents, end of the period | ₩ 22,965,162 | ₩ 13,047,255 | ₩ 7,352,253 |
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, 2022 | |
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 December 31,2022 but have not yet reached the effective date, and which the Group have not been early adopted by the Group are as follows: ① 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, 2024, 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 1 ‘Presentation of Financial Statements’—Disclosure of Accounting Policy ‘IFRS Practice Statement 2’ has been amended to define and disclose important accounting policies and to provide guidance on how to apply the concept of importance. 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. ③ Amendments to IAS 1 ‘Presentation of Financial Statements’—Disclosure of valuation gains or losses on financial liabilities with condition to adjust exercise price The amendments require disclosure of valuation gains or losses (limited to those recognized in the profit or loss) of the conversion options or warrants (or financial liabilities including them), if all or part of the financial instrument with exercise price that is adjusted depending on the issuer’s share price change is classified as financial liability as defined in paragraph 11 (2) of IAS 32. 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. ④ 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. ⑤ 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. |
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, 2022 | |
Buildings used for business purpose | |
Disclosure of property plant and equipment [Line Items] | |
Useful life for property plant and equipment | 26 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 7 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, 2022 | |
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, 2022 | |
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 1,650 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, 2022 | |
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, 2022, the balance of amortised cost of a financial asset of the obligors who need financial support amounts to 6,670 million Won, and the additional provisioned loss allowance is 177 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 and 2022, the amortized cost of a financial asset of the obligors subject to the deferment of redemption and interest deferment due to COVID-19 amounts to 80,291 million Won and 52,611 million Won, and the expected credit loss provisions recognized in relation to them are 15,575 million Won and 10,606 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, 2022 | Dec. 31, 2021 | |
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 (loan receivables, payment guarantees) that are subject to loan deferment and interest deferment | ₩ 2,177,011 | ₩ 2,595,642 |
Total loans changed its stage from 12-month to lifetime (Stage 2) expected credit losses | 1,946,959 | 2,260,412 |
The expected credit loss allowances that are additionally recognized | 325,014 | 284,714 |
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 (loan receivables, payment guarantees) that are subject to loan deferment and interest deferment | 1,960,524 | 2,428,496 |
The expected credit loss allowances that are additionally recognized | 312,371 | 275,057 |
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 (loan receivables, payment guarantees) that are subject to loan deferment and interest deferment | 216,487 | 167,146 |
The expected credit loss allowances that are additionally recognized | 12,643 | 9,657 |
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 | 1,777,108 | 2,125,492 |
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 | ₩ 169,851 | ₩ 134,920 |
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] - KRW (₩) ₩ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
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 | ₩ 364,057 | ₩ 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 | 347,801 | 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 | ₩ 16,256 | ₩ 6,237 |
Significant accounting estima_7
Significant accounting estimates and assumptions - Additional Information (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of changes in accounting estimates [line items] | ||
Loans subject to deferred repayment inclusive of interest | ₩ 2,177,011 | ₩ 2,595,642 |
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 | 6,670 | |
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 | 52,611 | 80,291 |
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 | 177 | |
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 | ₩ 10,606 | ₩ 15,575 |
Risk Management - Probability w
Risk Management - Probability weights applied to the scenarios of the forecasts of macroeconomic variables (Details) | 12 Months Ended |
Dec. 31, 2022 | |
Basic scenario | |
Disclosure of sensitivity analysis for expected credit loss provisions [Line Items] | |
Woori Bank's probability weights for multiple economic scenario | 52.57% |
Upside scenario | |
Disclosure of sensitivity analysis for expected credit loss provisions [Line Items] | |
Woori Bank's probability weights for multiple economic scenario | 12.52% |
Downside scenario | |
Disclosure of sensitivity analysis for expected credit loss provisions [Line Items] | |
Woori Bank's probability weights for multiple economic scenario | 34.91% |
Risk Management - Disclosure in
Risk Management - Disclosure in tabular form of macroeconomic forecasts for the forthcoming financial year (Details) | 12 Months Ended |
Dec. 31, 2022 | |
Basic scenario [Member] | |
Disclosure In Tabular Form Of Macroeconomic Forecasts For The Forthcoming Financial Year [Line Items] | |
GDP growth rate | 1.70% |
Personal consumption expenditures price index rate | 2.70% |
Consumer price index change rate | 3.60% |
Upside scenario [Member] | |
Disclosure In Tabular Form Of Macroeconomic Forecasts For The Forthcoming Financial Year [Line Items] | |
GDP growth rate | 1.89% |
Personal consumption expenditures price index rate | 3.11% |
Consumer price index change rate | 3.39% |
Downside scenario [Member] | |
Disclosure In Tabular Form Of Macroeconomic Forecasts For The Forthcoming Financial Year [Line Items] | |
GDP growth rate | 1.36% |
Personal consumption expenditures price index rate | 1.97% |
Consumer price index change rate | 3.97% |
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, 2022 | Dec. 31, 2021 | |
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) | |
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 | |
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 | |
Consumer price index change 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 | ₩ (24,164) | (29,469) |
Consumer price index change 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 | 28,042 | 34,352 |
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 | (59,987) | (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 | ₩ 68,036 | ₩ 43,028 |
Risk management - Maximum expos
Risk management - Maximum exposure to credit risk (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | |||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | ₩ 355,760,729 | [1] | $ 282,304,975 | ₩ 348,885,617 | [1] | |
Financial assets at FVTPL | [2] | 13,412,441 | 8,280,427 | |||
Financial assets at FVTOCI | 32,145,758 | 38,126,977 | ||||
Securities at amortized cost | 28,268,516 | 22,431,770 | 17,086,274 | |||
Derivative assets (Designated for hedging) | 37,786 | $ 29,984 | 106,764 | |||
Off balance sheet item | ||||||
Off-balance accounts | 130,093,656 | 127,402,271 | ||||
Total | 559,718,886 | 539,888,330 | ||||
Financial guarantee | 3,095,091 | 3,960,383 | ||||
Korean treasury and government agencies | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | [1] | 2,877,685 | 2,207,893 | |||
Banks | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | [1] | 21,571,097 | 24,412,685 | |||
Corporates | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | [1] | 143,507,852 | 131,027,256 | |||
Consumers | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | [1] | 187,804,095 | 191,237,783 | |||
Deposits | ||||||
Categories of financial assets | ||||||
Financial assets at FVTPL | [2] | 34,995 | 65,072 | |||
Debt securities | ||||||
Categories of financial assets | ||||||
Financial assets at FVTPL | [2] | 4,270,532 | 2,743,239 | |||
Loans | ||||||
Categories of financial assets | ||||||
Financial assets at FVTPL | [2] | 899,228 | 667,467 | |||
Derivative assets | ||||||
Categories of financial assets | ||||||
Financial assets at FVTPL | [2] | 8,206,181 | 4,803,131 | |||
Others | ||||||
Categories of financial assets | ||||||
Financial assets at FVTPL | [2] | 1,505 | 1,518 | |||
Debt securities at FVTOCI | ||||||
Categories of financial assets | ||||||
Financial assets at FVTOCI | 32,145,758 | 38,126,977 | ||||
Debt securities at amortized cost | ||||||
Categories of financial assets | ||||||
Securities at amortized cost | 28,268,516 | 17,086,274 | ||||
Derivative assets (Designated for hedging) | ||||||
Categories of financial assets | ||||||
Derivative assets (Designated for hedging) | 37,786 | 106,764 | ||||
Payment guarantees | ||||||
Off balance sheet item | ||||||
Off-balance accounts | [3] | 11,921,586 | 12,987,809 | |||
Loan commitments | ||||||
Off balance sheet item | ||||||
Off-balance accounts | ₩ 118,172,070 | ₩ 114,414,462 | ||||
[1]Cash and cash equivalents are not included.[2]Puttable financial instruments are not included.[3]As of December 31, 2021 and 2022, the financial guarantee amount of 3,960,383 million won and 3,095,091 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, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | |||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | ₩ 355,760,729 | [1] | $ 282,304,975 | ₩ 348,885,617 | [1] | |
Securities at amortized cost | 28,268,516 | 22,431,770 | 17,086,274 | |||
Financial assets at FVTPL | [2] | 13,412,441 | 8,280,427 | |||
Financial assets at FVTOCI | 32,145,758 | 38,126,977 | ||||
Derivative assets (Designated for hedging) | 37,786 | $ 29,984 | 106,764 | |||
Off balance sheet item | ||||||
Off-balance accounts | 130,093,656 | 127,402,271 | ||||
Total | 559,718,886 | 539,888,330 | ||||
Korea | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | 331,572,328 | 325,947,526 | ||||
Securities at amortized cost | 26,883,967 | 16,785,265 | ||||
Financial assets at FVTPL | 9,272,673 | 6,150,464 | ||||
Financial assets at FVTOCI | 27,780,323 | 34,242,133 | ||||
Derivative assets (Designated for hedging) | 37,786 | 11,678 | ||||
Off balance sheet item | ||||||
Off-balance accounts | 126,531,020 | 123,375,839 | ||||
Total | 522,078,097 | 506,512,905 | ||||
China | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | 5,188,826 | 5,620,622 | ||||
Securities at amortized cost | 642,089 | 92,880 | ||||
Financial assets at FVTPL | 2,607 | 1,330 | ||||
Financial assets at FVTOCI | 806,320 | 808,359 | ||||
Derivative assets (Designated for hedging) | 0 | 0 | ||||
Off balance sheet item | ||||||
Off-balance accounts | 981,139 | 1,001,430 | ||||
Total | 7,620,981 | 7,524,621 | ||||
USA | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | 4,721,440 | 3,742,331 | ||||
Securities at amortized cost | 421,248 | 27,018 | ||||
Financial assets at FVTPL | 2,210,580 | 1,188,358 | ||||
Financial assets at FVTOCI | 2,297,076 | 1,713,435 | ||||
Derivative assets (Designated for hedging) | 0 | 95,086 | ||||
Off balance sheet item | ||||||
Off-balance accounts | 380,209 | 375,929 | ||||
Total | 10,030,553 | 7,142,157 | ||||
UK | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | 215,174 | 212,821 | ||||
Securities at amortized cost | 16,658 | 0 | ||||
Financial assets at FVTPL | 318,322 | 195,048 | ||||
Financial assets at FVTOCI | 1,726 | 1,755 | ||||
Derivative assets (Designated for hedging) | 0 | 0 | ||||
Off balance sheet item | ||||||
Off-balance accounts | 25,644 | 31,116 | ||||
Total | 577,524 | 440,740 | ||||
Japan | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | 719,301 | 635,939 | ||||
Securities at amortized cost | 0 | 0 | ||||
Financial assets at FVTPL | 168,013 | 61,315 | ||||
Financial assets at FVTOCI | 41,421 | 23,193 | ||||
Derivative assets (Designated for hedging) | 0 | 0 | ||||
Off balance sheet item | ||||||
Off-balance accounts | 16,987 | 32,402 | ||||
Total | 945,722 | 752,849 | ||||
Others | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | [3] | 13,343,660 | 12,726,378 | |||
Securities at amortized cost | [3] | 304,554 | 181,111 | |||
Financial assets at FVTPL | [3] | 1,440,246 | 683,912 | |||
Financial assets at FVTOCI | [3] | 1,218,892 | 1,338,102 | |||
Derivative assets (Designated for hedging) | [3] | 0 | 0 | |||
Off balance sheet item | ||||||
Off-balance accounts | [3] | 2,158,657 | 2,585,555 | |||
Total | [3] | ₩ 18,466,009 | ₩ 17,515,058 | |||
[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, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | |||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | ₩ 355,760,729 | [1] | $ 282,304,975 | ₩ 348,885,617 | [1] | |
Securities at amortized cost | 28,268,516 | 22,431,770 | 17,086,274 | |||
Financial assets at FVTPL | [2] | 13,412,441 | 8,280,427 | |||
Financial assets at FVTOCI | 32,145,758 | 38,126,977 | ||||
Derivative assets (Designated for hedging) | 37,786 | $ 29,984 | 106,764 | |||
Off balance sheet item | ||||||
Off-balance accounts | 130,093,656 | 127,402,271 | ||||
Total | 559,718,886 | 539,888,330 | ||||
Service | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | 78,173,716 | 67,895,018 | ||||
Securities at amortized cost | 239,141 | 479,291 | ||||
Financial assets at FVTPL | 200,678 | 115,346 | ||||
Financial assets at FVTOCI | 417,877 | 376,998 | ||||
Derivative assets (Designated for hedging) | 0 | 0 | ||||
Off balance sheet item | ||||||
Off-balance accounts | 18,661,383 | 18,565,570 | ||||
Total | 97,692,795 | 87,432,223 | ||||
Manufacturing | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | 37,013,486 | 37,679,784 | ||||
Securities at amortized cost | 0 | 0 | ||||
Financial assets at FVTPL | 184,019 | 146,277 | ||||
Financial assets at FVTOCI | 231,132 | 258,866 | ||||
Derivative assets (Designated for hedging) | 0 | 0 | ||||
Off balance sheet item | ||||||
Off-balance accounts | 22,492,863 | 18,994,662 | ||||
Total | 59,921,500 | 57,079,589 | ||||
Finance and insurance | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | 31,485,795 | 32,493,347 | ||||
Securities at amortized cost | 16,198,175 | 7,061,770 | ||||
Financial assets at FVTPL | 9,776,234 | 6,646,922 | ||||
Financial assets at FVTOCI | 22,249,839 | 29,444,989 | ||||
Derivative assets (Designated for hedging) | 37,786 | 79,369 | ||||
Off balance sheet item | ||||||
Off-balance accounts | 10,523,731 | 11,763,667 | ||||
Total | 90,271,560 | 87,490,064 | ||||
Construction | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | 5,613,480 | 4,303,491 | ||||
Securities at amortized cost | 199,924 | 250,607 | ||||
Financial assets at FVTPL | 51,244 | 13,623 | ||||
Financial assets at FVTOCI | 48,225 | 131,967 | ||||
Derivative assets (Designated for hedging) | 0 | 27,395 | ||||
Off balance sheet item | ||||||
Off-balance accounts | 3,143,673 | 3,900,766 | ||||
Total | 9,056,546 | 8,627,849 | ||||
Individuals | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | 183,167,572 | 185,972,844 | ||||
Securities at amortized cost | 0 | 0 | ||||
Financial assets at FVTPL | 1,167 | 1,836 | ||||
Financial assets at FVTOCI | 0 | 0 | ||||
Derivative assets (Designated for hedging) | 0 | 0 | ||||
Off balance sheet item | ||||||
Off-balance accounts | 69,404,456 | 67,966,826 | ||||
Total | 252,573,195 | 253,941,506 | ||||
Others | ||||||
Categories of financial assets | ||||||
Loans and other financial assets at amortized cost | 20,306,680 | 20,541,133 | ||||
Securities at amortized cost | 11,631,276 | 9,294,606 | ||||
Financial assets at FVTPL | 3,199,099 | 1,356,423 | ||||
Financial assets at FVTOCI | 9,198,685 | 7,914,157 | ||||
Derivative assets (Designated for hedging) | 0 | 0 | ||||
Off balance sheet item | ||||||
Off-balance accounts | 5,867,550 | 6,210,780 | ||||
Total | ₩ 50,203,290 | ₩ 45,317,099 | ||||
[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, 2022 | Dec. 31, 2021 |
Woori bank | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | ₩ 23,162,887 | ₩ 10,568,232 |
Financial assets at FVTPL | 11,262 | 5,298 |
Financial assets at FVTOCI | 58,396 | 34,558 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 12,126,739 | 3,215,674 |
Total | 35,359,284 | 13,823,762 |
Woori bank | Service business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 10,087,022 | 6,393,453 |
Financial assets at FVTPL | 7,272 | 2,515 |
Financial assets at FVTOCI | 30,417 | 23,840 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 2,083,217 | 1,333,939 |
Total | 12,207,928 | 7,753,747 |
Woori bank | Accommodation business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 1,434,456 | 1,441,185 |
Financial assets at FVTPL | 2,228 | 625 |
Financial assets at FVTOCI | 24,121 | 23,840 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 161,573 | 181,563 |
Total | 1,622,378 | 1,647,213 |
Woori bank | Travel business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 48,655 | 53,302 |
Financial assets at FVTPL | 0 | 0 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 16,369 | 12,455 |
Total | 65,024 | 65,757 |
Woori bank | Distribution business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 2,958,898 | 1,564,743 |
Financial assets at FVTPL | 2,483 | 495 |
Financial assets at FVTOCI | 6,296 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 1,030,198 | 536,742 |
Total | 3,997,875 | 2,101,980 |
Woori bank | General retail business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 1,157,537 | 754,850 |
Financial assets at FVTPL | 824 | 274 |
Financial assets at FVTOCI | 6,296 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 496,830 | 299,064 |
Total | 1,661,487 | 1,054,188 |
Woori bank | General wholesale business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 1,801,361 | 809,893 |
Financial assets at FVTPL | 1,659 | 221 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 533,368 | 237,678 |
Total | 2,336,388 | 1,047,792 |
Woori bank | Art/sports, leisure service | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 1,780,739 | 600,746 |
Financial assets at FVTPL | 1,012 | 503 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 104,065 | 63,660 |
Total | 1,885,816 | 664,909 |
Woori bank | Food business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 1,520,098 | 1,279,128 |
Financial assets at FVTPL | 426 | 216 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 179,977 | 179,799 |
Total | 1,700,501 | 1,459,143 |
Woori bank | Transportation business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 357,940 | 404,120 |
Financial assets at FVTPL | 181 | 77 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 248,801 | 167,883 |
Total | 606,922 | 572,080 |
Woori bank | Education business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 425,779 | |
Financial assets at FVTPL | 169 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 40,891 | |
Total | 466,839 | |
Woori bank | Others | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 1,560,457 | 1,050,229 |
Financial assets at FVTPL | 773 | 599 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 301,343 | 191,837 |
Total | 1,862,573 | 1,242,665 |
Woori bank | Manufacturing | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 13,075,865 | 4,174,779 |
Financial assets at FVTPL | 3,990 | 2,783 |
Financial assets at FVTOCI | 27,979 | 10,718 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 10,043,522 | 1,881,735 |
Total | 23,151,356 | 6,070,015 |
Woori bank | Textile | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 2,361,092 | 2,626,493 |
Financial assets at FVTPL | 767 | 724 |
Financial assets at FVTOCI | 8,898 | 10,718 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 1,076,002 | 1,012,989 |
Total | 3,446,759 | 3,650,924 |
Woori bank | Metal | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 1,579,004 | 199,877 |
Financial assets at FVTPL | 191 | 10 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 1,225,601 | 9,704 |
Total | 2,804,796 | 209,591 |
Woori bank | Non-metal | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 796,671 | 148,471 |
Financial assets at FVTPL | 1,529 | 24 |
Financial assets at FVTOCI | 7,629 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 381,014 | 48,171 |
Total | 1,186,843 | 196,666 |
Woori bank | Chemical | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 3,649,189 | 904,563 |
Financial assets at FVTPL | 158 | 1,994 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 3,627,183 | 689,895 |
Total | 7,276,530 | 1,596,452 |
Woori bank | Electronics | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 1,409,475 | 103,510 |
Financial assets at FVTPL | 58 | 31 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 1,202,758 | 33,389 |
Total | 2,612,291 | 136,930 |
Woori bank | Others | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 3,280,434 | 191,865 |
Financial assets at FVTPL | 1,287 | 0 |
Financial assets at FVTOCI | 11,452 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 2,530,964 | 87,587 |
Total | 5,824,137 | 279,452 |
Woori Card Co., Ltd. | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 215,449 | 56,030 |
Financial assets at FVTPL | 0 | 0 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 231,358 | 252,065 |
Total | 446,807 | 308,095 |
Woori Card Co., Ltd. | Accommodation business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 5,562 | 2,341 |
Financial assets at FVTPL | 0 | 0 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 9,762 | 11,472 |
Total | 15,324 | 13,813 |
Woori Card Co., Ltd. | Travel business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 7,927 | 3,334 |
Financial assets at FVTPL | 0 | 0 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 15,182 | 20,056 |
Total | 23,109 | 23,390 |
Woori Card Co., Ltd. | Aviation | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 1,072 | 983 |
Financial assets at FVTPL | 0 | 0 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 3,760 | 4,025 |
Total | 4,832 | 5,008 |
Woori Card Co., Ltd. | Cosmetics | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 11,364 | 3,187 |
Financial assets at FVTPL | 0 | 0 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 9,766 | 10,692 |
Total | 21,130 | 13,879 |
Woori Card Co., Ltd. | Distribution business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 30,904 | 7,582 |
Financial assets at FVTPL | 0 | 0 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 36,190 | 38,741 |
Total | 67,094 | 46,323 |
Woori Card Co., Ltd. | Art/sports, leisure service | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 24,614 | 8,336 |
Financial assets at FVTPL | 0 | 0 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 41,003 | 44,286 |
Total | 65,617 | 52,622 |
Woori Card Co., Ltd. | Food business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 134,006 | 30,267 |
Financial assets at FVTPL | 0 | 0 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 115,695 | 122,793 |
Total | 249,701 | 153,060 |
Woori Financial Capital Co., Ltd. | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 9,052,432 | 7,843,035 |
Financial assets at FVTPL | 21,652 | 28,222 |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 573,108 | 966,578 |
Total | 9,647,192 | 8,837,835 |
Woori Financial Capital Co., Ltd. | Service business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 3,387,965 | 1,235,564 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 206,191 | 140,549 |
Total | 3,594,156 | 1,376,113 |
Woori Financial Capital Co., Ltd. | Accommodation business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 40,237 | 7,338 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 40,237 | 7,338 |
Woori Financial Capital Co., Ltd. | Travel business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 5,880 | 57 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 5,880 | 57 |
Woori Financial Capital Co., Ltd. | Cosmetics | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 1,192 | 685 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 1,192 | 685 |
Woori Financial Capital Co., Ltd. | Distribution business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 630,170 | 370,673 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 630,170 | 370,673 |
Woori Financial Capital Co., Ltd. | General retail business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 363,655 | 77,841 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 363,655 | 77,841 |
Woori Financial Capital Co., Ltd. | General wholesale business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 266,515 | 292,832 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 266,515 | 292,832 |
Woori Financial Capital Co., Ltd. | Art/sports, leisure service | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 66,388 | 8,544 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 66,388 | 8,544 |
Woori Financial Capital Co., Ltd. | Food business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 228,254 | 125,075 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 228,254 | 125,075 |
Woori Financial Capital Co., Ltd. | Transportation business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 367,311 | 598,972 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 367,311 | 598,972 |
Woori Financial Capital Co., Ltd. | Education business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 52,652 | 22,118 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 52,652 | 22,118 |
Woori Financial Capital Co., Ltd. | Others | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 1,997,073 | 102,787 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 206,191 | 140,549 |
Total | 2,203,264 | 243,336 |
Woori Financial Capital Co., Ltd. | Manufacturing | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 326,849 | 118,077 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 19,892 | 13,432 |
Total | 346,741 | 131,509 |
Woori Financial Capital Co., Ltd. | Textile | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 15,204 | 727 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 15,204 | 727 |
Woori Financial Capital Co., Ltd. | Metal | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 25,274 | 2,824 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 25,274 | 2,824 |
Woori Financial Capital Co., Ltd. | Non-metal | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 4,067 | 698 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 4,067 | 698 |
Woori Financial Capital Co., Ltd. | Chemical | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 14,071 | 172 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 14,071 | 172 |
Woori Financial Capital Co., Ltd. | Transportation | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 2,867 | 438 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 2,867 | 438 |
Woori Financial Capital Co., Ltd. | Electronics | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 28,202 | 3,993 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 28,202 | 3,993 |
Woori Financial Capital Co., Ltd. | Others | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 235,972 | 108,540 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 19,892 | 13,432 |
Total | 255,864 | 121,972 |
Woori Financial Capital Co., Ltd. | COVID-19 vulnerable business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 3,714,814 | 1,353,641 |
Financial assets at FVTPL | 0 | |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 226,083 | 153,981 |
Total | 3,940,897 | 1,507,622 |
Woori Financial Capital Co., Ltd. | Other business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 5,337,618 | 6,489,394 |
Financial assets at FVTPL | 21,652 | 28,222 |
Financial assets at FVTOCI | 0 | |
Off balance sheet item [Abstract] | ||
Off balance accounts | 347,025 | 812,597 |
Total | 5,706,295 | 7,330,213 |
Woori Investment Bank Co., Ltd. | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 88,567 | 101,799 |
Financial assets at FVTPL | 19,774 | 0 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 108,341 | 101,799 |
Woori Investment Bank Co., Ltd. | Accommodation business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 19,323 | 57,142 |
Financial assets at FVTPL | 0 | 0 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 19,323 | 57,142 |
Woori Investment Bank Co., Ltd. | Distribution business | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 10,084 | 12,885 |
Financial assets at FVTPL | 19,774 | 0 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | 29,858 | 12,885 |
Woori Investment Bank Co., Ltd. | Art/sports, leisure service | ||
Categories of financial assets [Abstract] | ||
Loans and other financial assets at amortized cost | 59,160 | 31,772 |
Financial assets at FVTPL | 0 | 0 |
Financial assets at FVTOCI | 0 | 0 |
Off balance sheet item [Abstract] | ||
Off balance accounts | 0 | 0 |
Total | ₩ 59,160 | ₩ 31,772 |
Risk Management - Credit qualit
Risk Management - Credit quality of financial assets items (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | |||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | ₩ 355,760,729 | [1] | $ 282,304,975 | ₩ 348,885,617 | [1] | |
Securities at amortized cost | 28,268,516 | $ 22,431,770 | 17,086,274 | |||
Total | 416,175,003 | 404,098,868 | ||||
Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Total | 418,669,042 | 406,063,628 | ||||
Collateral value | 233,504,990 | 226,930,180 | ||||
Loss allowance | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Total | (2,505,844) | (1,976,906) | ||||
Stage 1 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 213,228,740 | 208,188,057 | ||||
Stage 1 | Above appropriate credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Total | [2] | 368,689,893 | 358,326,701 | |||
Stage 1 | Less than a limited credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Total | [3] | 23,622,752 | 22,943,485 | |||
Stage 2 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 19,354,919 | 18,098,940 | ||||
Stage 2 | Above appropriate credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Total | [2] | 13,061,081 | 13,270,491 | |||
Stage 2 | Less than a limited credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Total | [3] | 11,533,632 | 10,190,307 | |||
Stage 3 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Total | 1,447,967 | 1,332,644 | ||||
Collateral value | 607,614 | 643,183 | ||||
Credit Impaiment Model [Member] | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Total | 313,717 | |||||
Collateral value | 313,717 | |||||
Loans and other financial assets at amortized cost | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 358,246,383 | 350,845,142 | ||||
Collateral value | 233,504,990 | 226,930,180 | ||||
Loans and other financial assets at amortized cost | Loss allowance | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | (2,485,654) | (1,959,525) | ||||
Loans and other financial assets at amortized cost | Stage 1 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 213,228,740 | 208,188,057 | ||||
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 | [2] | 308,498,799 | 303,317,270 | |||
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 | [3] | 23,391,187 | 22,734,430 | |||
Loans and other financial assets at amortized cost | Stage 2 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 19,354,919 | 18,098,940 | ||||
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 | [2] | 13,061,081 | 13,270,491 | |||
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 | [3] | 11,533,632 | 10,190,307 | |||
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 | 1,447,967 | 1,332,644 | ||||
Collateral value | 607,614 | 643,183 | ||||
Loans and other financial assets at amortized cost | Credit Impaiment Model [Member] | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 313,717 | |||||
Collateral value | 313,717 | |||||
Korean treasury and government agencies | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | [1] | 2,877,685 | 2,207,893 | |||
Korean treasury and government agencies | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 2,879,096 | 2,211,816 | ||||
Collateral value | 24,276 | 20,679 | ||||
Korean treasury and government agencies | Loss allowance | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | (1,411) | (3,923) | ||||
Korean treasury and government agencies | Stage 1 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 24,276 | 20,679 | ||||
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 | [2] | 2,879,057 | 2,211,798 | |||
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 | [3] | 39 | 9 | |||
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 | [2] | 0 | 9 | |||
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 | [3] | 0 | 0 | |||
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 | ||||
Korean treasury and government agencies | Credit Impaiment Model [Member] | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 0 | |||||
Collateral value | 0 | |||||
Banks | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | [1] | 21,571,097 | 24,412,685 | |||
Banks | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 21,595,804 | 24,428,240 | ||||
Collateral value | 1,858,595 | 1,287,055 | ||||
Banks | Loss allowance | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | (24,707) | (15,555) | ||||
Banks | Stage 1 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 1,858,595 | 1,287,055 | ||||
Banks | Stage 1 | Above appropriate credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | [2] | 21,182,445 | 23,865,911 | |||
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 | [3] | 393,181 | 492,447 | |||
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 | [2] | 2,125 | 46,373 | |||
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 | [3] | 0 | 0 | |||
Banks | Stage 3 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 18,053 | 23,509 | ||||
Collateral value | 0 | 0 | ||||
Banks | Credit Impaiment Model [Member] | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 0 | |||||
Collateral value | 0 | |||||
Corporates | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | [1] | 143,507,852 | 131,027,256 | |||
Corporates | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 145,025,388 | 132,190,691 | ||||
Collateral value | 87,926,377 | 79,551,849 | ||||
Corporates | Loss allowance | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | (1,517,536) | (1,163,435) | ||||
Corporates | Stage 1 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 82,314,488 | 74,403,502 | ||||
Corporates | Stage 1 | Above appropriate credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | [2] | 120,407,588 | 108,917,062 | |||
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 | [3] | 16,680,863 | 15,952,017 | |||
Corporates | Stage 2 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 4,982,087 | 4,796,510 | ||||
Corporates | Stage 2 | Above appropriate credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | [2] | 2,556,885 | 2,698,907 | |||
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] | 4,429,148 | 3,963,782 | |||
Corporates | Stage 3 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 637,187 | 658,923 | ||||
Collateral value | 316,085 | 351,837 | ||||
Corporates | Credit Impaiment Model [Member] | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 313,717 | |||||
Collateral value | 313,717 | |||||
General business | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 88,474,933 | 81,914,261 | ||||
General business | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 89,490,972 | 82,700,169 | ||||
Collateral value | 48,050,535 | 43,630,245 | ||||
General business | Loss allowance | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | (1,016,039) | (785,908) | ||||
General business | Stage 1 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 44,465,799 | 40,288,663 | ||||
General business | Stage 1 | Above appropriate credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | [2] | 74,939,770 | 68,767,641 | |||
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 | [3] | 9,291,691 | 9,010,115 | |||
General business | Stage 2 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 3,390,139 | 3,120,790 | ||||
General business | Stage 2 | Above appropriate credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | [2] | 1,754,620 | 1,886,740 | |||
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 | [3] | 3,083,232 | 2,597,136 | |||
General business | Stage 3 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 421,659 | 438,537 | ||||
Collateral value | 194,597 | 220,792 | ||||
General business | Credit Impaiment Model [Member] | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 0 | |||||
Collateral value | 0 | |||||
Small and medium sized enterprise | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 43,502,475 | 41,743,993 | ||||
Small and medium sized enterprise | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 43,902,803 | 42,066,628 | ||||
Collateral value | 34,125,260 | 32,609,117 | ||||
Small and medium sized enterprise | Loss allowance | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | (400,328) | (322,635) | ||||
Small and medium sized enterprise | Stage 1 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 32,503,289 | 30,852,567 | ||||
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 | [2] | 34,965,279 | 33,306,787 | |||
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 | [3] | 6,751,297 | 6,459,338 | |||
Small and medium sized enterprise | Stage 2 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 1,537,173 | 1,675,720 | ||||
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 | [2] | 754,668 | 790,750 | |||
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 | [3] | 1,257,741 | 1,353,313 | |||
Small and medium sized enterprise | Stage 3 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 173,818 | 156,440 | ||||
Collateral value | 84,798 | 80,830 | ||||
Small and medium sized enterprise | Credit Impaiment Model [Member] | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 0 | |||||
Collateral value | 0 | |||||
Project financing and others | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 11,530,444 | 7,369,002 | ||||
Project financing and others | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 11,631,613 | 7,423,894 | ||||
Collateral value | 5,750,582 | 3,312,487 | ||||
Project financing and others | Loss allowance | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | (101,169) | (54,892) | ||||
Project financing and others | Stage 1 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 5,345,400 | 3,262,272 | ||||
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 | [2] | 10,502,539 | 6,842,634 | |||
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 | [3] | 637,875 | 482,564 | |||
Project financing and others | Stage 2 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 54,775 | 0 | ||||
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 | [2] | 47,597 | 21,417 | |||
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 | [3] | 88,175 | 13,333 | |||
Project financing and others | Stage 3 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 41,710 | 63,946 | ||||
Collateral value | 36,690 | 50,215 | ||||
Project financing and others | Credit Impaiment Model [Member] | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 313,717 | |||||
Collateral value | 313,717 | |||||
Consumers | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | [1] | 187,804,095 | 191,237,783 | |||
Consumers | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 188,746,095 | 192,014,395 | ||||
Collateral value | 143,695,742 | 146,070,597 | ||||
Consumers | Loss allowance | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | (942,000) | (776,612) | ||||
Consumers | Stage 1 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 129,031,381 | 132,476,821 | ||||
Consumers | Stage 1 | Above appropriate credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | [2] | 164,029,709 | 168,322,499 | |||
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 | [3] | 6,317,104 | 6,289,957 | |||
Consumers | Stage 2 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 14,372,832 | 13,302,430 | ||||
Consumers | Stage 2 | Above appropriate credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | [2] | 10,502,071 | 10,525,202 | |||
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 | [3] | 7,104,484 | 6,226,525 | |||
Consumers | Stage 3 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 792,727 | 650,212 | ||||
Collateral value | 291,528 | 291,346 | ||||
Consumers | Credit Impaiment Model [Member] | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Loans and other financial assets at amortized cost | 0 | |||||
Collateral value | 0 | |||||
Securities at amortized cost | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Securities at amortized cost | 28,268,516 | 17,086,274 | ||||
Securities at amortized cost | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Securities at amortized cost | 28,276,901 | 17,091,509 | ||||
Collateral value | 0 | 0 | ||||
Securities at amortized cost | Loss allowance | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Securities at amortized cost | (8,385) | (5,235) | ||||
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 | [2] | 28,276,901 | 17,091,509 | |||
Securities at amortized cost | Stage 1 | Less than a limited credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Securities at amortized cost | [3] | 0 | 0 | |||
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 | [2] | 0 | 0 | |||
Securities at amortized cost | Stage 2 | Less than a limited credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Securities at amortized cost | [3] | 0 | 0 | |||
Securities at amortized cost | Stage 3 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Securities at amortized cost | 0 | 0 | ||||
Collateral value | 0 | 0 | ||||
Securities at amortized cost | Credit Impaiment Model [Member] | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Securities at amortized cost | 0 | |||||
Collateral value | 0 | |||||
Financial assets at FVTOCI | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Financial assets at FVTOCI | [4] | 32,145,758 | 38,126,977 | |||
Financial assets at FVTOCI | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Financial assets at FVTOCI | 32,145,758 | 38,126,977 | [4] | |||
Collateral value | 0 | [5] | 0 | [4] | ||
Financial assets at FVTOCI | Loss allowance | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Financial assets at FVTOCI | (11,805) | (12,146) | [4] | |||
Financial assets at FVTOCI | Stage 1 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 0 | [5] | 0 | [4] | ||
Financial assets at FVTOCI | Stage 1 | Above appropriate credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Financial assets at FVTOCI | [2] | 31,914,193 | 37,917,922 | |||
Financial assets at FVTOCI | Stage 1 | Less than a limited credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Financial assets at FVTOCI | [3] | 231,565 | 209,055 | |||
Financial assets at FVTOCI | Stage 2 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Collateral value | 0 | [5] | 0 | [4] | ||
Financial assets at FVTOCI | Stage 2 | Above appropriate credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Financial assets at FVTOCI | [2],[4] | 0 | 0 | |||
Financial assets at FVTOCI | Stage 2 | Less than a limited credit rating | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Financial assets at FVTOCI | [3],[4] | 0 | 0 | |||
Financial assets at FVTOCI | Stage 3 | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Financial assets at FVTOCI | [4] | 0 | 0 | |||
Collateral value | 0 | [5] | ₩ 0 | [4] | ||
Financial assets at FVTOCI | Credit Impaiment Model [Member] | Total | ||||||
Disclosure of credit risk exposure [Line Items] | ||||||
Financial assets at FVTOCI | 0 | |||||
Collateral value | ₩ 0 | |||||
[1]Cash and cash equivalents are not included.[2]Credit grade of corporates are AAA ~ BBB, and consumers are grades 1 ~ 6.[3]Credit grade of corporates are BBB- ~ C, and consumers are grades 7 ~ 10.[4]Financial assets at FVTOCI has been disclosed as the amount before deducting loss allowance because loss allowance does not reduce the carrying amount.[5]Financial assets at FVTOCI has been disclosed as the amount before deducting loss allowance because loss allowance does not reduce the carrying amount. |
Risk Management - Credit qual_2
Risk Management - Credit quality of off balancesheet items (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | ₩ 130,093,656 | ₩ 127,402,271 | |
Payment Guarantees | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [1] | 11,921,586 | 12,987,809 |
Loan commitments | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | 118,172,070 | 114,414,462 | |
Stage 1 | Above appropriate credit rating | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [2] | 123,960,012 | 119,477,342 |
Stage 1 | Above appropriate credit rating | Payment Guarantees | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [2] | 10,790,470 | 11,560,908 |
Stage 1 | Above appropriate credit rating | Loan commitments | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [2] | 113,169,542 | 107,916,434 |
Stage 1 | Less than a limited credit rating | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [3] | 3,457,170 | 4,628,555 |
Stage 1 | Less than a limited credit rating | Payment Guarantees | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [3] | 846,997 | 1,037,142 |
Stage 1 | Less than a limited credit rating | Loan commitments | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [3] | 2,610,173 | 3,591,413 |
Stage 2 | Above appropriate credit rating | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [2] | 1,664,808 | 2,119,897 |
Stage 2 | Above appropriate credit rating | Payment Guarantees | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [2] | 25,826 | 47,549 |
Stage 2 | Above appropriate credit rating | Loan commitments | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [2] | 1,638,982 | 2,072,348 |
Stage 2 | Less than a limited credit rating | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [3] | 998,200 | 1,107,339 |
Stage 2 | Less than a limited credit rating | Payment Guarantees | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [3] | 245,061 | 275,166 |
Stage 2 | Less than a limited credit rating | Loan commitments | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | [3] | 753,139 | 832,173 |
Stage 3 | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | 13,466 | 69,138 | |
Stage 3 | Payment Guarantees | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | 13,232 | 67,044 | |
Stage 3 | Loan commitments | |||
Disclosure of credit risk exposure [Line Items] | |||
Off balance accounts | ₩ 234 | ₩ 2,094 | |
[1]As of December 31, 2021 and 2022, the financial guarantee amount of 3,960,383 million won and 3,095,091 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, 2022 | |
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, 2021 and 2022, 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, 2022 | Dec. 31, 2021 | |
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 | ₩ 149,511 | ₩ 145,594 |
Financial assets with contractual cash flows modified during reporting period while loss allowance measured at lifetime expected credit losses, modification gain (loss) | (8,474) | (11,734) |
Financial assets written off during reporting period and still subject to enforcement activity, contractual amount outstanding | 9,825,284 | ₩ 10,107,413 |
Non-recoverable financial assets still in the process of recovery | ₩ 1,382,281 |
Risk Management - Sensitivity A
Risk Management - Sensitivity Analysis of Market Risk (Details) | 12 Months Ended |
Dec. 31, 2022 | |
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 and its subsidiaries manage and measure 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). |
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 equity capital required for market 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 equity capital required for market 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, 2022 | Dec. 31, 2021 | |
Fair value concentration of risk market risk management reporting date value at risk [Member] | |||
Value at risk [Line Items] | |||
Total VaR | [1] | ₩ 19,109 | ₩ 6,981 |
Fair value concentration of risk market risk management value at risk during year [Member] | Average | |||
Value at risk [Line Items] | |||
Total VaR | [1] | 16,714 | 7,763 |
Fair value concentration of risk market risk management value at risk during year [Member] | Maximum | |||
Value at risk [Line Items] | |||
Total VaR | [1] | 27,046 | 13,831 |
Fair value concentration of risk market risk management value at risk during year [Member] | Minimum | |||
Value at risk [Line Items] | |||
Total VaR | [1] | 7,324 | 5,134 |
Interest rate | Fair value concentration of risk market risk management reporting date value at risk [Member] | |||
Value at risk [Line Items] | |||
Total VaR | 11,800 | 4,177 | |
Interest rate | Fair value concentration of risk market risk management value at risk during year [Member] | Average | |||
Value at risk [Line Items] | |||
Total VaR | 8,847 | 4,681 | |
Interest rate | Fair value concentration of risk market risk management value at risk during year [Member] | Maximum | |||
Value at risk [Line Items] | |||
Total VaR | 11,987 | 14,017 | |
Interest rate | Fair value concentration of risk market risk management value at risk during year [Member] | Minimum | |||
Value at risk [Line Items] | |||
Total VaR | 4,298 | 2,405 | |
Stock price | Fair value concentration of risk market risk management reporting date value at risk [Member] | |||
Value at risk [Line Items] | |||
Total VaR | 7,055 | 2,972 | |
Stock price | Fair value concentration of risk market risk management value at risk during year [Member] | Average | |||
Value at risk [Line Items] | |||
Total VaR | 6,590 | 3,637 | |
Stock price | Fair value concentration of risk market risk management value at risk during year [Member] | Maximum | |||
Value at risk [Line Items] | |||
Total VaR | 12,448 | 6,676 | |
Stock price | Fair value concentration of risk market risk management value at risk during year [Member] | Minimum | |||
Value at risk [Line Items] | |||
Total VaR | 1,806 | 1,609 | |
Foreign currencies | Fair value concentration of risk market risk management reporting date value at risk [Member] | |||
Value at risk [Line Items] | |||
Total VaR | 17,608 | 5,904 | |
Foreign currencies | Fair value concentration of risk market risk management value at risk during year [Member] | Average | |||
Value at risk [Line Items] | |||
Total VaR | 14,002 | 6,745 | |
Foreign currencies | Fair value concentration of risk market risk management value at risk during year [Member] | Maximum | |||
Value at risk [Line Items] | |||
Total VaR | 22,251 | 13,144 | |
Foreign currencies | Fair value concentration of risk market risk management value at risk during year [Member] | Minimum | |||
Value at risk [Line Items] | |||
Total VaR | 5,421 | 4,747 | |
Diversification | Fair value concentration of risk market risk management reporting date value at risk [Member] | |||
Value at risk [Line Items] | |||
Total VaR | (17,354) | (6,072) | |
Diversification | Fair value concentration of risk market risk management value at risk during year [Member] | Average | |||
Value at risk [Line Items] | |||
Total VaR | (12,725) | (7,300) | |
Diversification | Fair value concentration of risk market risk management value at risk during year [Member] | Maximum | |||
Value at risk [Line Items] | |||
Total VaR | (19,640) | (20,006) | |
Diversification | Fair value concentration of risk market risk management value at risk during year [Member] | Minimum | |||
Value at risk [Line Items] | |||
Total VaR | ₩ (4,201) | ₩ (3,627) | |
[1]VaR (Value at Risk): Retention period of 1 day, 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, 2022 | Dec. 31, 2021 | ||
Woori Bank | |||
Statement One [Line Items] | |||
Change in EVE | [1] | ₩ 411,447 | ₩ 920,290 |
Change in NII | [2] | 448,509 | 195,186 |
Woori Card Co., Ltd. | |||
Statement One [Line Items] | |||
Change in EVE | [1] | 139,005 | 126,576 |
Change in NII | [2] | 185,637 | 59,114 |
Woori Financial Capital Co., Ltd. | |||
Statement One [Line Items] | |||
Change in EVE | [1] | 43,098 | 58,794 |
Change in NII | [2] | 13,814 | 1,384 |
Woori Investment Bank Co., Ltd. | |||
Statement One [Line Items] | |||
Change in EVE | [1] | 26,311 | 17,607 |
Change in NII | [2] | 8,229 | 5,556 |
Woori Asset Trust Co., Ltd. | |||
Statement One [Line Items] | |||
Change in EVE | [1] | 1,137 | 820 |
Change in NII | [2] | 6,736 | 1,709 |
Woori Asset Management Corp. | |||
Statement One [Line Items] | |||
Change in EVE | [1] | 913 | 1,411 |
Change in NII | [2] | 1,299 | 504 |
Woori Savings Bank | |||
Statement One [Line Items] | |||
Change in EVE | [1] | 6,618 | 15,175 |
Change in NII | [2] | 10,348 | 949 |
Woori Private Equity Asset Management Co., Ltd. | |||
Statement One [Line Items] | |||
Change in EVE | [1] | 547 | 32 |
Change in NII | [2] | 886 | 59 |
Woori Global Asset Management Co., Ltd. | |||
Statement One [Line Items] | |||
Change in EVE | [1] | 251 | 246 |
Change in NII | [2] | 538 | 143 |
Woori Financial F&I Co., Ltd. | |||
Statement One [Line Items] | |||
Change in EVE | [1] | 26,069 | 0 |
Change in NII | [2] | ₩ 219 | ₩ 0 |
[1]ΔEVE: change in Economic Value of Equity[2]ΔNII: change in Net Interest Income |
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, 2022 | Dec. 31, 2021 |
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 | ₩ 442,486,580 | ₩ 418,398,513 |
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 | 377,530,009 | 359,420,134 |
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 | 2,099,504 | 2,081,692 |
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 | 32,877,602 | 38,881,263 |
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 | 29,979,465 | 18,015,424 |
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 | 421,113,171 | 388,770,151 |
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 | 345,782,262 | 318,182,204 |
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 | 28,840,718 | 24,468,890 |
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 | 46,490,191 | 46,119,057 |
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 | 235,595,633 | 214,427,607 |
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 | 224,863,400 | 205,915,030 |
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 | 1,888,996 | 1,725,063 |
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 | 6,093,805 | 5,489,649 |
Within 3 months | Securities at amortized cost | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 2,749,432 | 1,297,865 |
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 | 191,134,790 | 165,493,118 |
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 | 167,237,029 | 145,744,829 |
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 | 14,829,024 | 11,422,868 |
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 | 9,068,737 | 8,325,421 |
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 | 62,820,324 | 64,301,905 |
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 | 56,669,335 | 58,661,091 |
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 | 119,725 | 52,361 |
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 | 4,224,460 | 4,741,319 |
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 | 1,806,804 | 847,134 |
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 | 58,171,916 | 54,997,145 |
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 | 49,107,093 | 47,792,440 |
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 | 4,159,096 | 4,168,941 |
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 | 4,905,727 | 3,035,764 |
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 | 20,254,845 | 19,240,028 |
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 | 15,469,920 | 14,461,769 |
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 | 1,364 | 49,843 |
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 | 3,014,625 | 3,915,011 |
7 to 9 months | Securities at amortized cost | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 1,768,936 | 813,405 |
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 | 39,681,742 | 38,327,258 |
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 | 33,506,265 | 33,334,918 |
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 | 1,542,340 | 1,788,597 |
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 | 4,633,137 | 3,203,743 |
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 | 20,092,167 | 17,946,712 |
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 | 15,108,779 | 12,840,318 |
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 | 4,670 | 17,817 |
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 | 3,550,982 | 4,139,102 |
10 to 12 months | Securities at amortized cost | ||
Cash flows of principal and interests from interest baring assets and liabilities [Line Items] | ||
Cash flows of principal and interests from interest bearing assets | 1,427,736 | 949,475 |
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 | 46,151,914 | 33,330,592 |
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 | 40,006,233 | 28,615,157 |
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 | 1,183,331 | 1,540,533 |
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 | 4,962,350 | 3,174,902 |
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 | 95,062,150 | 94,513,058 |
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 | 59,454,649 | 62,337,321 |
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 | 71,620 | 223,107 |
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 | 15,409,527 | 19,962,071 |
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 | 20,126,354 | 11,990,559 |
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 | 82,132,042 | 92,791,939 |
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 | 55,855,781 | 62,635,705 |
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 | 6,654,602 | 5,119,291 |
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 | 19,621,659 | 25,036,943 |
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 | 8,661,461 | 7,969,203 |
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 | 5,963,926 | 5,204,605 |
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 | 13,129 | 13,501 |
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 | 584,203 | 634,111 |
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 | 2,100,203 | 2,116,986 |
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 | 3,840,767 | 3,830,099 |
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 | 69,861 | 59,155 |
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 | 472,325 | 428,660 |
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 | ₩ 3,298,581 | ₩ 3,342,284 |
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, 2022 USD ($) | Dec. 31, 2022 KRW (₩) | Dec. 31, 2022 JPY (¥) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 EUR (€) | Dec. 31, 2021 USD ($) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2021 JPY (¥) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2021 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 | ₩ 68,273,885 | ₩ 61,266,953 | ||||||||
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 | 14,031,640 | 5,431,497 | ||||||||
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 | 44,794,187 | 48,764,355 | ||||||||
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 | 2,131,548 | 1,216,923 | ||||||||
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 | 5,644,738 | 5,299,762 | ||||||||
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 | 1,671,772 | 554,416 | ||||||||
Won equivalent | Liability | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 71,178,781 | 56,771,154 | ||||||||
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 | 1,491,166 | 1,018,095 | ||||||||
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 | 46,261,313 | 37,643,900 | ||||||||
Won equivalent | Borrowings | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 12,106,876 | 9,025,657 | ||||||||
Won equivalent | Debentures | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | 5,891,621 | 4,569,676 | ||||||||
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 | 5,427,805 | 4,513,826 | ||||||||
Won equivalent | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | 10,956,500 | 12,403,265 | ||||||||
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 | $ | $ 38,255 | $ 35,850 | ||||||||
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 | $ | 9,041 | 3,176 | ||||||||
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 | $ | 24,361 | 28,771 | ||||||||
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 | $ | 970 | 468 | ||||||||
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 | $ | 3,307 | 3,195 | ||||||||
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 | $ | 576 | 240 | ||||||||
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 | $ | 39,092 | 32,148 | ||||||||
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 | $ | 415 | 274 | ||||||||
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 | $ | 24,569 | 19,803 | ||||||||
USD | Foreign currency | Borrowings | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | $ | 6,894 | 5,766 | ||||||||
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 | $ | 4,174 | 3,566 | ||||||||
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 | $ | 3,040 | 2,739 | ||||||||
USD | Foreign currency | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | $ | $ 6,698 | $ 8,047 | ||||||||
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 | 48,479,889 | 42,501,266 | ||||||||
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 | 11,457,194 | 3,765,800 | ||||||||
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 | 30,872,442 | 34,107,769 | ||||||||
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 | 1,229,059 | 556,296 | ||||||||
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 | 4,191,383 | 3,787,466 | ||||||||
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 | 729,811 | 283,935 | ||||||||
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 | 49,541,164 | 38,111,504 | ||||||||
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 | 526,553 | 324,420 | ||||||||
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 | 31,135,881 | 23,476,384 | ||||||||
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 | 8,737,229 | 6,835,191 | ||||||||
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 | 5,289,246 | 4,228,055 | ||||||||
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 | 3,852,255 | 3,247,454 | ||||||||
USD | Won equivalent | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | 8,488,374 | 9,540,185 | ||||||||
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 | ¥ | ¥ 206,538 | ¥ 195,428 | ||||||||
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 | ¥ | 64,824 | 32,829 | ||||||||
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 | ¥ | 116,298 | 147,981 | ||||||||
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 | ¥ | 25,416 | 14,618 | ||||||||
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 | ¥ | 307,076 | 278,172 | ||||||||
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 | ¥ | 26,766 | 16,384 | ||||||||
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 | ¥ | 227,260 | 219,514 | ||||||||
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 | ¥ | 44,365 | 31,601 | ||||||||
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 | ¥ | 8,685 | 10,673 | ||||||||
JPY | Foreign currency | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | ¥ | ¥ 34,512 | ¥ 32,777 | ||||||||
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 | 1,968,677 | 1,993,709 | ||||||||
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 | 617,888 | 338,222 | ||||||||
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 | 1,108,529 | 1,504,891 | ||||||||
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 | 242,260 | 150,596 | ||||||||
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 | 2,926,983 | 2,866,021 | ||||||||
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 | 255,128 | 168,798 | ||||||||
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 | 2,166,196 | 2,261,520 | ||||||||
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 | 422,876 | 325,745 | ||||||||
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 | 82,783 | 109,958 | ||||||||
JPY | Won equivalent | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | 328,964 | 337,685 | ||||||||
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 | ¥ | ¥ 33,718 | ¥ 29,367 | ||||||||
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 | ¥ | 1,542 | 1,236 | ||||||||
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 | ¥ | 24,637 | 23,733 | ||||||||
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 | 0 | ||||||||
CNY | Foreign currency | Financial assets at FVTOCI | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | ¥ | 3,999 | 3,899 | ||||||||
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 | ¥ | 3,540 | 499 | ||||||||
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 | ¥ | 33,443 | 29,000 | ||||||||
CNY | Foreign currency | Financial liabilities at FVTPL | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | ¥ | 0 | 0 | ||||||||
CNY | Foreign currency | Deposits due to customers | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial liabilities denominated in foregin currencies | ¥ | 28,125 | 26,342 | ||||||||
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 | ¥ | 1,023 | 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 | ¥ | 4,295 | 2,658 | ||||||||
CNY | Foreign currency | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | ¥ | ¥ 1,141 | ¥ 2,533 | ||||||||
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 | 6,117,563 | 5,469,966 | ||||||||
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 | 279,779 | 230,188 | ||||||||
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 | 4,470,059 | 4,420,551 | ||||||||
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 | 0 | ||||||||
CNY | Won equivalent | Financial assets at FVTOCI | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 725,511 | 726,310 | ||||||||
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 | 642,214 | 92,917 | ||||||||
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 | 6,067,771 | 5,401,566 | ||||||||
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 | 5,102,886 | 4,906,441 | ||||||||
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 | 185,652 | 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 | 779,233 | 495,125 | ||||||||
CNY | Won equivalent | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | 207,012 | 471,852 | ||||||||
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 | € | € 3,423 | € 2,812 | ||||||||
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 | € | 484 | 94 | ||||||||
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 | € | 2,510 | 2,329 | ||||||||
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 | € | 358 | 327 | ||||||||
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 | € | 2 | 33 | ||||||||
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 | € | 69 | 29 | ||||||||
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 | € | 3,436 | 2,563 | ||||||||
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 | € | 322 | 239 | ||||||||
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 | € | 2,108 | 1,640 | ||||||||
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 | € | 431 | 349 | ||||||||
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 | € | 195 | 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 | € | 380 | 335 | ||||||||
EUR | Foreign currency | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | € | € 787 | € 598 | ||||||||
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 | 4,625,020 | 3,774,318 | ||||||||
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 | 653,870 | 125,513 | ||||||||
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 | 3,391,155 | 3,126,363 | ||||||||
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 | 484,172 | 438,662 | ||||||||
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 | 2,573 | 44,638 | ||||||||
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 | 93,250 | 39,142 | ||||||||
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 | 4,640,959 | 3,441,608 | ||||||||
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 | 434,590 | 321,354 | ||||||||
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 | 2,847,863 | 2,201,233 | ||||||||
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 | 582,034 | 469,124 | ||||||||
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 | 263,187 | 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 | 513,285 | 449,897 | ||||||||
EUR | Won equivalent | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | 1,063,680 | 803,357 | ||||||||
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 | 7,082,736 | 7,527,694 | ||||||||
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 | 1,022,909 | 971,774 | ||||||||
Others | Won equivalent | Loans and other financial assets at amortized cost | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Financial assets denominated in foregin currencies | 4,952,002 | 5,604,781 | ||||||||
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 | 176,057 | 71,369 | ||||||||
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 | 725,271 | 741,348 | ||||||||
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 | 206,497 | 138,422 | ||||||||
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 | 8,001,904 | 6,950,455 | ||||||||
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 | 274,895 | 203,523 | ||||||||
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 | 5,008,487 | 4,798,322 | ||||||||
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 | 2,179,085 | 1,395,597 | ||||||||
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 | 339,188 | 341,621 | ||||||||
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 | 200,249 | 211,392 | ||||||||
Others | Won equivalent | Off-balance accounts | ||||||||||
Financial statement lineitems with diffrences in reported amount and reporting currency denominated amounts [Line Items] | ||||||||||
Off balance accounts | ₩ 868,470 | ₩ 1,250,186 |
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, 2022 | Dec. 31, 2021 |
Disclosure of maturity analysis for non-derivative financial liabilities [Line Items] | ||
Financial liabilities at FVTPL | ₩ 47,274 | ₩ 310,388 |
Deposits due to customers | 349,008,295 | 320,328,853 |
Borrowings | 29,013,535 | 24,995,360 |
Debentures | 46,535,657 | 46,284,097 |
Lease liabilities | 354,171 | 345,121 |
Other financial liabilities | 18,365,543 | 20,538,693 |
Total | 443,324,475 | 412,802,512 |
Within 3 months | ||
Disclosure of maturity analysis for non-derivative financial liabilities [Line Items] | ||
Financial liabilities at FVTPL | 35,161 | 100,976 |
Deposits due to customers | 228,890,427 | 224,881,863 |
Borrowings | 8,969,648 | 9,477,536 |
Debentures | 6,348,064 | 3,068,600 |
Lease liabilities | 68,279 | 41,731 |
Other financial liabilities | 14,409,376 | 17,614,313 |
Total | 258,720,955 | 255,185,019 |
4 to 6 months | ||
Disclosure of maturity analysis for non-derivative financial liabilities [Line Items] | ||
Financial liabilities at FVTPL | 0 | 10,397 |
Deposits due to customers | 36,851,103 | 32,559,199 |
Borrowings | 5,734,715 | 4,366,223 |
Debentures | 6,841,379 | 4,201,926 |
Lease liabilities | 36,724 | 53,245 |
Other financial liabilities | 113,049 | 290,584 |
Total | 49,576,970 | 41,481,574 |
7 to 9 months | ||
Disclosure of maturity analysis for non-derivative financial liabilities [Line Items] | ||
Financial liabilities at FVTPL | 0 | 91,785 |
Deposits due to customers | 24,091,740 | 20,290,566 |
Borrowings | 3,210,812 | 2,415,548 |
Debentures | 5,211,032 | 5,316,672 |
Lease liabilities | 35,136 | 30,148 |
Other financial liabilities | 19,370 | 12,190 |
Total | 32,568,090 | 28,156,909 |
10 to 12 months | ||
Disclosure of maturity analysis for non-derivative financial liabilities [Line Items] | ||
Financial liabilities at FVTPL | 0 | 107,230 |
Deposits due to customers | 42,652,679 | 31,768,748 |
Borrowings | 3,156,211 | 2,494,732 |
Debentures | 5,214,942 | 5,371,869 |
Lease liabilities | 29,646 | 25,494 |
Other financial liabilities | 20,315 | 11,894 |
Total | 51,073,793 | 39,779,967 |
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 | 14,999,516 | 9,213,279 |
Borrowings | 7,457,240 | 5,800,815 |
Debentures | 19,621,659 | 24,982,746 |
Lease liabilities | 151,379 | 156,228 |
Other financial liabilities | 765,870 | 610,514 |
Total | 42,995,664 | 40,763,582 |
Over 5 years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [Line Items] | ||
Financial liabilities at FVTPL | 12,113 | 0 |
Deposits due to customers | 1,522,830 | 1,615,198 |
Borrowings | 484,909 | 440,506 |
Debentures | 3,298,581 | 3,342,284 |
Lease liabilities | 33,007 | 38,275 |
Other financial liabilities | 3,037,563 | 1,999,198 |
Total | ₩ 8,389,003 | ₩ 7,435,461 |
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, 2022 | Dec. 31, 2021 |
Disclosure of maturity analysis for derivative financial liabilities by estimated redemption or withdrawal [Line Items] | ||
Financial liabilities at FVTPL | ₩ 47,274 | ₩ 310,388 |
Deposits due to customers | 347,733,760 | 319,930,769 |
Borrowings | 29,013,535 | 24,995,360 |
Debentures | 46,535,657 | 46,284,097 |
Lease liabilities | 366,343 | 354,751 |
Other financial liabilities | 18,365,543 | 20,538,693 |
Total | 442,062,112 | 412,414,058 |
Within 3 months | ||
Disclosure of maturity analysis for derivative financial liabilities by estimated redemption or withdrawal [Line Items] | ||
Financial liabilities at FVTPL | 35,161 | 100,976 |
Deposits due to customers | 242,132,680 | 230,823,884 |
Borrowings | 8,969,648 | 9,477,536 |
Debentures | 6,348,064 | 3,068,600 |
Lease liabilities | 68,344 | 41,716 |
Other financial liabilities | 14,409,376 | 17,614,313 |
Total | 271,963,273 | 261,127,025 |
4 to 6 months | ||
Disclosure of maturity analysis for derivative financial liabilities by estimated redemption or withdrawal [Line Items] | ||
Financial liabilities at FVTPL | 0 | 10,397 |
Deposits due to customers | 41,113,768 | 33,705,990 |
Borrowings | 5,734,715 | 4,366,223 |
Debentures | 6,841,379 | 4,201,926 |
Lease liabilities | 36,729 | 53,260 |
Other financial liabilities | 113,049 | 290,584 |
Total | 53,839,640 | 42,628,380 |
7 to 9 months | ||
Disclosure of maturity analysis for derivative financial liabilities by estimated redemption or withdrawal [Line Items] | ||
Financial liabilities at FVTPL | 0 | 91,785 |
Deposits due to customers | 24,269,363 | 20,107,790 |
Borrowings | 3,210,812 | 2,415,548 |
Debentures | 5,211,032 | 5,316,672 |
Lease liabilities | 35,377 | 30,216 |
Other financial liabilities | 19,370 | 12,190 |
Total | 32,745,954 | 27,974,201 |
10 to 12 months | ||
Disclosure of maturity analysis for derivative financial liabilities by estimated redemption or withdrawal [Line Items] | ||
Financial liabilities at FVTPL | 0 | 107,230 |
Deposits due to customers | 29,670,943 | 27,331,774 |
Borrowings | 3,156,211 | 2,494,732 |
Debentures | 5,214,942 | 5,371,869 |
Lease liabilities | 29,948 | 25,653 |
Other financial liabilities | 20,315 | 11,894 |
Total | 38,092,359 | 35,343,152 |
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 | 10,490,993 | 7,871,688 |
Borrowings | 7,457,240 | 5,800,815 |
Debentures | 19,621,659 | 24,982,746 |
Lease liabilities | 157,361 | 162,092 |
Other financial liabilities | 765,870 | 610,514 |
Total | 38,493,123 | 39,427,855 |
Over 5 years | ||
Disclosure of maturity analysis for derivative financial liabilities by estimated redemption or withdrawal [Line Items] | ||
Financial liabilities at FVTPL | 12,113 | 0 |
Deposits due to customers | 56,013 | 89,643 |
Borrowings | 484,909 | 440,506 |
Debentures | 3,298,581 | 3,342,284 |
Lease liabilities | 38,584 | 41,814 |
Other financial liabilities | 3,037,563 | 1,999,198 |
Total | ₩ 6,927,763 | ₩ 5,913,445 |
Risk Management - Cash flow of
Risk Management - Cash flow of derivative financial liabilities by maturities (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of maturity analysis for derivative financial liabilities [Line Items] | ||
Cash flow risk hedge | ₩ 54,613 | ₩ (7,976) |
Fair value risk hedge | 206,149 | 20,946 |
Trading purpose | 8,905,125 | 4,566,443 |
Within 3 months | ||
Disclosure of maturity analysis for derivative financial liabilities [Line Items] | ||
Cash flow risk hedge | 856 | 246 |
Fair value risk hedge | 25,048 | (1,656) |
Trading purpose | 8,905,125 | 4,566,443 |
4 to 6 months | ||
Disclosure of maturity analysis for derivative financial liabilities [Line Items] | ||
Cash flow risk hedge | 905 | (206) |
Fair value risk hedge | 16,175 | 598 |
Trading purpose | 0 | 0 |
7 to 9 months | ||
Disclosure of maturity analysis for derivative financial liabilities [Line Items] | ||
Cash flow risk hedge | 915 | (502) |
Fair value risk hedge | 31,974 | (940) |
Trading purpose | 0 | 0 |
10 to 12 months | ||
Disclosure of maturity analysis for derivative financial liabilities [Line Items] | ||
Cash flow risk hedge | 1,255 | (717) |
Fair value risk hedge | 18,540 | 1,392 |
Trading purpose | 0 | 0 |
1 to 5 years | ||
Disclosure of maturity analysis for derivative financial liabilities [Line Items] | ||
Cash flow risk hedge | 50,682 | (2,744) |
Fair value risk hedge | 118,027 | 21,552 |
Trading purpose | 0 | 0 |
Over 5 years | ||
Disclosure of maturity analysis for derivative financial liabilities [Line Items] | ||
Cash flow risk hedge | 0 | (4,053) |
Fair value risk hedge | (3,615) | 0 |
Trading purpose | ₩ 0 | ₩ 0 |
Risk Management - Maturity anal
Risk Management - Maturity analysis of Offbalance accounts (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of maturity analysis for off balance sheet item [Abstract] | ||
Payment guarantees | ₩ 11,921,586 | ₩ 12,987,809 |
Loan commitments | 118,172,070 | 114,414,462 |
Other commitments | ₩ 4,602,429 | ₩ 3,427,331 |
Risk Management - Capital adequ
Risk Management - Capital adequacy ratio (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
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 III published by Basel Committee on Banking Supervision in Bank for International Settlement 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 III published by Basel Committee on Banking Supervision in Bank for International Settlement 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 minimum requirements: Tier 1 common capital ratio of 8.0%, a Tier 1 capital ratio of 9.5%, and a total capital ratio of 11.5% as of December 31, 2021 and 2022 | According to the above regulations, the Group is required to meet the following minimum requirements: Tier 1 common capital ratio of 8.0%, a Tier 1 capital ratio of 9.5%, and a total capital ratio of 11.5% as of December 31, 2021 and 2022 |
Minimum common equity tier one ratio | 8% | 8% |
Minimum tier one ratio | 9.50% | 9.50% |
Minimum total regulatory capital ratio | 11.50% | 11.50% |
Tier one risk based capital [Abstract] | ||
Tier 1 capital | ₩ 23,757,296 | ₩ 21,994,047 |
Other Tier 1 capital | 4,208,994 | 3,590,212 |
Tier 2 capital | 3,437,735 | 3,395,989 |
Total risk adjusted capital | 31,404,025 | 28,980,248 |
Risk weighted assets for credit risk | 182,028,062 | 171,199,840 |
Risk weighted assets for market risk | 6,759,527 | 6,388,428 |
Risk weighted assets for operational risk | 16,519,885 | 14,914,801 |
Total risk weighted assets | ₩ 205,307,474 | ₩ 192,503,069 |
Common Equity Tier 1 ratio | 11.57% | 11.43% |
Tier 1 capital ratio | 13.62% | 13.29% |
Total capital ratio | 15.30% | 15.05% |
Risk Management - Disclosure Of
Risk Management - Disclosure Of Quantitative Information About Financial Instruments That Have Yet To Transition To Alternative Benchmark Rate (Details) $ in Thousands, ₩ in Millions | Jan. 07, 2022 KRW (₩) | Dec. 31, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | |
Disclosure of quantitative information about financial instruments that have yet to transition to alternative benchmark rate [line items] | |||||
Financial assets at FVTOCI | ₩ 33,085,080 | $ 26,253,833 | ₩ 39,119,789 | ||
Financial assets at amortised cost | 384,029,245 | 365,971,891 | |||
Total | 437,012,684 | 418,695,678 | |||
Financial liabilities at amortised cost | 437,226,005 | 411,199,211 | |||
Notional amount | 389,338,520 | ₩ 390,720,160 | |||
Non Derivative Financial Assets [Member] | LIBOR [Member] | Woori bank [Member] | Significant interest rate benchmarks subject to interest rate benchmark reform [member] | |||||
Disclosure of quantitative information about financial instruments that have yet to transition to alternative benchmark rate [line items] | |||||
Estimated Interest Expense On Account Of Transition To Interest Rate Benchmark | [1] | ₩ 3,592,814 | |||
Total | [1],[2] | 4,729,811 | |||
Derivative Financial Liabilities [Member] | LIBOR [Member] | Woori bank [Member] | Significant interest rate benchmarks subject to interest rate benchmark reform [member] | |||||
Disclosure of quantitative information about financial instruments that have yet to transition to alternative benchmark rate [line items] | |||||
Estimated Interest Expense On Account Of Transition To Interest Rate Benchmark | [1] | 62,151,712 | |||
Notional amount | [1],[2] | 62,441,511 | |||
Non Derivative Financial Liabilities [Member] | LIBOR [Member] | Woori bank [Member] | Significant interest rate benchmarks subject to interest rate benchmark reform [member] | |||||
Disclosure of quantitative information about financial instruments that have yet to transition to alternative benchmark rate [line items] | |||||
Estimated Interest Expense On Account Of Transition To Interest Rate Benchmark | [1] | 89,326 | |||
Financial liabilities at amortised cost | [1],[2] | 89,326 | |||
Interest rate [Member] | Derivative Financial Liabilities [Member] | LIBOR [Member] | Woori bank [Member] | Significant interest rate benchmarks subject to interest rate benchmark reform [member] | |||||
Disclosure of quantitative information about financial instruments that have yet to transition to alternative benchmark rate [line items] | |||||
Estimated Interest Expense On Account Of Transition To Interest Rate Benchmark | [1] | 2,344,505 | |||
Notional amount | [1],[2] | 2,344,505 | |||
Currency [Member] | Derivative Financial Liabilities [Member] | LIBOR [Member] | Woori bank [Member] | Significant interest rate benchmarks subject to interest rate benchmark reform [member] | |||||
Disclosure of quantitative information about financial instruments that have yet to transition to alternative benchmark rate [line items] | |||||
Estimated Interest Expense On Account Of Transition To Interest Rate Benchmark | [1] | 33,598,769 | |||
Notional amount | [1],[2] | 33,886,969 | |||
Interest rate [Member] | Derivative Financial Liabilities [Member] | LIBOR [Member] | Woori bank [Member] | Significant interest rate benchmarks subject to interest rate benchmark reform [member] | |||||
Disclosure of quantitative information about financial instruments that have yet to transition to alternative benchmark rate [line items] | |||||
Estimated Interest Expense On Account Of Transition To Interest Rate Benchmark | [1] | 26,208,438 | |||
Notional amount | [1],[2] | 26,210,037 | |||
Financial assets at FVTOCI [Member] | Non Derivative Financial Assets [Member] | LIBOR [Member] | Woori bank [Member] | Significant interest rate benchmarks subject to interest rate benchmark reform [member] | |||||
Disclosure of quantitative information about financial instruments that have yet to transition to alternative benchmark rate [line items] | |||||
Estimated Interest Expense On Account Of Transition To Interest Rate Benchmark | [1] | 355,247 | |||
Financial assets at FVTOCI | [1],[2] | 514,935 | |||
Financial assets at amortized cost [Member] | Non Derivative Financial Assets [Member] | LIBOR [Member] | Woori bank [Member] | Significant interest rate benchmarks subject to interest rate benchmark reform [member] | |||||
Disclosure of quantitative information about financial instruments that have yet to transition to alternative benchmark rate [line items] | |||||
Estimated Interest Expense On Account Of Transition To Interest Rate Benchmark | [1] | ₩ 3,237,567 | |||
Financial assets at amortised cost | [1],[2] | ₩ 4,214,876 | |||
[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, The Group is in the process of negotiating to add an interest rate alternative clause. |
Operating Segments - Details by
Operating Segments - Details by reporting segment (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | ||||||||
Dec. 31, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2020 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2019 KRW (₩) | ||||
Inter segment transaction [Line Items] | |||||||||
Net Interest income | ₩ 8,696,579 | $ 6,900,950 | ₩ 6,985,721 | ₩ 5,998,512 | |||||
Non-interest income(expense) | 1,149,107 | 1,358,277 | 822,434 | ||||||
Impairment losses due to credit loss | (885,272) | (702,485) | (536,838) | (784,371) | |||||
General and administrative expense | (4,529,890) | (3,594,580) | (4,147,411) | (3,956,181) | |||||
Net operating income (expense) | 4,430,524 | 3,515,731 | 3,659,749 | 2,080,394 | |||||
Other non-operating income (expense) | 47,050 | 37,335 | (34,900) | (180,220) | |||||
Share of gain (loss) of associates | 69,996 | 55,545 | 62,196 | 101,077 | |||||
Non-operating income (expense) | 117,046 | 92,880 | 27,296 | (79,143) | |||||
Net income (expense) before tax | 4,547,570 | 3,608,610 | 3,687,045 | 2,001,251 | |||||
Tax expenses | (1,178,496) | (935,166) | (924,766) | (486,002) | |||||
Net income (loss) | 3,369,074 | $ 2,673,444 | 2,762,279 | 1,515,249 | |||||
Total assets | 480,474,396 | 447,183,871 | 399,081,017 | $ 381,268,367 | |||||
Investment in associate | 1,305,636 | 1,335,167 | 993,291 | 1,036,055 | ₩ 806,360 | ||||
Other assets | 479,168,760 | 445,848,704 | 398,087,726 | ||||||
Total liabilities | 448,847,054 | 418,378,768 | 372,355,172 | $ 356,171,286 | |||||
Consolidated Adjustments [Member] | |||||||||
Inter segment transaction [Line Items] | |||||||||
Net Interest income | (2,155) | (796) | [1] | (3,063) | [2] | ||||
Non-interest income(expense) | (1,655,342) | (969,804) | [1] | (1,015,284) | [2] | ||||
Impairment losses due to credit loss | 595 | 1,091 | [1] | (10,795) | [2] | ||||
General and administrative expense | 302,721 | 275,874 | [1] | 254,861 | [2] | ||||
Net operating income (expense) | (1,354,181) | (693,635) | [1] | (774,281) | [2] | ||||
Other non-operating income (expense) | (12,565) | 7,054 | [1] | (158,308) | [2] | ||||
Share of gain (loss) of associates | (7,717) | (4,044) | [1] | 128,594 | [2] | ||||
Non-operating income (expense) | (20,282) | 3,010 | [1] | (29,714) | [2] | ||||
Net income (expense) before tax | (1,374,463) | (690,625) | [1] | (803,995) | [2] | ||||
Tax expenses | (3,665) | (4,714) | [1] | 25,724 | [2] | ||||
Net income (loss) | (1,378,128) | (695,339) | [1] | (778,271) | [2] | ||||
Total assets | (27,303,155) | (25,058,009) | [1] | (28,253,942) | [2] | ||||
Investment in associate | (22,116,991) | (21,745,817) | [1] | (23,988,553) | [2] | ||||
Other assets | (5,186,164) | (3,312,192) | [1] | (4,265,389) | [2] | ||||
Total liabilities | (2,650,118) | (1,811,321) | [1] | (3,718,731) | [2] | ||||
Internal Adjustments [Member] | |||||||||
Inter segment transaction [Line Items] | |||||||||
Net Interest income | 817,543 | 758,559 | [3] | 692,298 | [4] | ||||
Non-interest income(expense) | (761,029) | (670,230) | [3] | (676,483) | [4] | ||||
Impairment losses due to credit loss | (57,992) | (89,683) | [3] | (17,138) | [4] | ||||
General and administrative expense | 0 | 0 | [3] | 0 | [4] | ||||
Net operating income (expense) | (1,478) | (1,354) | [3] | (1,323) | [4] | ||||
Other non-operating income (expense) | 1,478 | 1,354 | [3] | 1,323 | [4] | ||||
Share of gain (loss) of associates | 0 | 0 | [3] | 0 | [4] | ||||
Non-operating income (expense) | 1,478 | 1,354 | [3] | 1,323 | [4] | ||||
Net income (expense) before tax | 0 | 0 | [3] | 0 | [4] | ||||
Tax expenses | 0 | 0 | [3] | 0 | [4] | ||||
Net income (loss) | 0 | 0 | [3] | 0 | [4] | ||||
Total assets | 0 | 0 | [3] | 0 | [4] | ||||
Investment in associate | 0 | 0 | [3] | 0 | [4] | ||||
Other assets | 0 | 0 | [3] | 0 | [4] | ||||
Total liabilities | 0 | 0 | [3] | 0 | [4] | ||||
Other Adjustments [Member] | |||||||||
Inter segment transaction [Line Items] | |||||||||
Net Interest income | [5] | 9,938 | 52,171 | ||||||
Non-interest income(expense) | [5] | 16,431 | (19,082) | ||||||
Impairment losses due to credit loss | [5] | 0 | (808) | ||||||
General and administrative expense | [5] | (256) | (2,921) | ||||||
Net operating income (expense) | [5] | 26,113 | 29,360 | ||||||
Other non-operating income (expense) | [5] | 2,956 | 33,895 | ||||||
Share of gain (loss) of associates | [5] | 51 | (22,047) | ||||||
Non-operating income (expense) | [5] | 3,007 | 11,848 | ||||||
Net income (expense) before tax | [5] | 29,120 | 41,208 | ||||||
Tax expenses | [5] | 0 | 29 | ||||||
Net income (loss) | [5] | 29,120 | 41,237 | ||||||
Total assets | [5] | 1,101,162 | 5,643,135 | ||||||
Investment in associate | [5] | 35,134 | 10,194 | ||||||
Other assets | [5] | 1,066,028 | 5,632,941 | ||||||
Total liabilities | [5] | 54,595 | 4,643,899 | ||||||
Banking | |||||||||
Inter segment transaction [Line Items] | |||||||||
Net Interest income | 6,603,834 | 5,158,078 | 4,545,155 | ||||||
Non-interest income(expense) | 1,520,576 | 1,661,903 | 1,423,286 | ||||||
Impairment losses due to credit loss | (426,552) | (140,574) | (512,008) | ||||||
General and administrative expense | (3,914,672) | (3,606,715) | (3,545,186) | ||||||
Net operating income (expense) | 3,783,186 | 3,072,692 | 1,911,247 | ||||||
Other non-operating income (expense) | 67,759 | (19,654) | (50,132) | ||||||
Share of gain (loss) of associates | 73,958 | 60,049 | (6,895) | ||||||
Non-operating income (expense) | 141,717 | 40,395 | (57,027) | ||||||
Net income (expense) before tax | 3,924,903 | 3,113,087 | 1,854,220 | ||||||
Tax expenses | (976,402) | (773,073) | (437,288) | ||||||
Net income (loss) | 2,948,501 | 2,340,014 | 1,416,932 | ||||||
Total assets | 443,340,979 | 415,976,627 | 374,120,064 | ||||||
Investment in associate | 917,581 | 858,706 | 3,382,650 | ||||||
Other assets | 442,423,398 | 415,117,921 | 370,737,414 | ||||||
Total liabilities | 417,583,793 | 391,360,200 | 348,706,682 | ||||||
Credit Card | |||||||||
Inter segment transaction [Line Items] | |||||||||
Net Interest income | 675,250 | 606,506 | 564,461 | ||||||
Non-interest income(expense) | 110,888 | 63,839 | 3,648 | ||||||
Impairment losses due to credit loss | (238,607) | (164,097) | (195,816) | ||||||
General and administrative expense | (262,525) | (225,175) | (207,301) | ||||||
Net operating income (expense) | 285,006 | 281,073 | 164,992 | ||||||
Other non-operating income (expense) | (6,373) | (7,936) | (5,569) | ||||||
Share of gain (loss) of associates | 0 | 0 | 0 | ||||||
Non-operating income (expense) | (6,373) | (7,936) | (5,569) | ||||||
Net income (expense) before tax | 278,633 | 273,137 | 159,423 | ||||||
Tax expenses | (73,869) | (72,411) | (39,193) | ||||||
Net income (loss) | 204,764 | 200,726 | 120,230 | ||||||
Total assets | 16,118,967 | 14,116,832 | 11,366,596 | ||||||
Investment in associate | 0 | 0 | 0 | ||||||
Other assets | 16,118,967 | 14,116,832 | 11,366,596 | ||||||
Total liabilities | 13,692,456 | 11,858,065 | 9,312,986 | ||||||
Capital | |||||||||
Inter segment transaction [Line Items] | |||||||||
Net Interest income | 376,133 | 315,600 | |||||||
Non-interest income(expense) | 83,428 | 95,297 | |||||||
Impairment losses due to credit loss | (107,906) | (122,089) | |||||||
General and administrative expense | (99,872) | (99,048) | |||||||
Net operating income (expense) | 251,783 | 189,760 | |||||||
Other non-operating income (expense) | (1,835) | (16,943) | |||||||
Share of gain (loss) of associates | 1,430 | 1,000 | |||||||
Non-operating income (expense) | (405) | (15,943) | |||||||
Net income (expense) before tax | 251,378 | 173,817 | |||||||
Tax expenses | (68,050) | (33,238) | |||||||
Net income (loss) | 183,328 | 140,579 | |||||||
Total assets | 12,581,473 | 10,259,868 | |||||||
Investment in associate | 40,987 | 12,403 | |||||||
Other assets | 12,540,486 | 10,247,465 | |||||||
Total liabilities | 11,040,754 | 9,073,104 | |||||||
Investment banking | |||||||||
Inter segment transaction [Line Items] | |||||||||
Net Interest income | 117,867 | 108,321 | 78,302 | ||||||
Non-interest income(expense) | 82,885 | 49,419 | 34,497 | ||||||
Impairment losses due to credit loss | (16,491) | (1,885) | (4,146) | ||||||
General and administrative expense | (61,631) | (51,490) | (39,039) | ||||||
Net operating income (expense) | 122,630 | 104,365 | 69,614 | ||||||
Other non-operating income (expense) | (1,399) | (660) | (945) | ||||||
Share of gain (loss) of associates | 334 | 750 | 170 | ||||||
Non-operating income (expense) | (1,065) | 90 | (775) | ||||||
Net income (expense) before tax | 121,565 | 104,455 | 68,839 | ||||||
Tax expenses | (29,771) | (24,531) | (5,902) | ||||||
Net income (loss) | 91,794 | 79,924 | 62,937 | ||||||
Total assets | 5,657,191 | 5,159,742 | 4,332,474 | ||||||
Investment in associate | 6,548 | 8,846 | 2,494 | ||||||
Other assets | 5,650,643 | 5,150,896 | 4,329,980 | ||||||
Total liabilities | 4,982,410 | 4,559,856 | 3,803,594 | ||||||
Others | |||||||||
Inter segment transaction [Line Items] | |||||||||
Net Interest income | 73,800 | 29,515 | [6] | 69,188 | [7] | ||||
Non-interest income(expense) | 1,750,203 | 1,111,422 | [6] | 1,071,852 | [7] | ||||
Impairment losses due to credit loss | (38,319) | (19,601) | [6] | (43,660) | [7] | ||||
General and administrative expense | (493,502) | (440,601) | [6] | (416,595) | [7] | ||||
Net operating income (expense) | 1,292,182 | 680,735 | [6] | 680,785 | [7] | ||||
Other non-operating income (expense) | (2,386) | (1,071) | [6] | (484) | [7] | ||||
Share of gain (loss) of associates | 2,173 | 4,390 | [6] | 1,255 | [7] | ||||
Non-operating income (expense) | (213) | 3,319 | [6] | 771 | [7] | ||||
Net income (expense) before tax | 1,291,969 | 684,054 | [6] | 681,556 | [7] | ||||
Tax expenses | (26,739) | (16,799) | [6] | (29,372) | [7] | ||||
Net income (loss) | 1,265,230 | 667,255 | [6] | 652,184 | [7] | ||||
Total assets | 28,059,619 | 25,627,649 | [6] | 31,872,690 | [7] | ||||
Investment in associate | 22,427,853 | 22,165,895 | [6] | 21,586,506 | [7] | ||||
Other assets | 5,631,766 | 3,461,754 | [6] | 10,286,184 | [7] | ||||
Total liabilities | 4,146,997 | 3,284,269 | [6] | 9,606,742 | [7] | ||||
Reporting segment total | |||||||||
Inter segment transaction [Line Items] | |||||||||
Net Interest income | 7,846,884 | 6,218,020 | 5,257,106 | ||||||
Non-interest income(expense) | 3,547,980 | 2,981,880 | 2,533,283 | ||||||
Impairment losses due to credit loss | (827,875) | (448,246) | (755,630) | ||||||
General and administrative expense | (4,832,202) | (4,423,029) | (4,208,121) | ||||||
Net operating income (expense) | 5,734,787 | 4,328,625 | 2,826,638 | ||||||
Other non-operating income (expense) | 55,766 | (46,264) | (57,130) | ||||||
Share of gain (loss) of associates | 77,895 | 66,189 | (5,470) | ||||||
Non-operating income (expense) | 133,661 | 19,925 | (62,600) | ||||||
Net income (expense) before tax | 5,868,448 | 4,348,550 | 2,764,038 | ||||||
Tax expenses | (1,174,831) | (920,052) | (511,755) | ||||||
Net income (loss) | 4,693,617 | 3,428,498 | 2,252,283 | ||||||
Total assets | 505,758,229 | 471,140,718 | 421,691,824 | ||||||
Investment in associate | 23,392,969 | 23,045,850 | 24,971,650 | ||||||
Other assets | 482,365,260 | 448,094,868 | 396,720,174 | ||||||
Total liabilities | 451,446,410 | ₩ 420,135,494 | ₩ 371,430,004 | ||||||
Adjustments | Other Adjustments [Member] | |||||||||
Inter segment transaction [Line Items] | |||||||||
Net Interest income | 34,307 | ||||||||
Non-interest income(expense) | 17,498 | ||||||||
Impairment losses due to credit loss | 0 | ||||||||
General and administrative expense | (409) | ||||||||
Net operating income (expense) | 51,396 | ||||||||
Other non-operating income (expense) | 2,371 | ||||||||
Share of gain (loss) of associates | (182) | ||||||||
Non-operating income (expense) | 2,189 | ||||||||
Net income (expense) before tax | 53,585 | ||||||||
Tax expenses | 0 | ||||||||
Net income (loss) | 53,585 | ||||||||
Total assets | 2,019,322 | ||||||||
Investment in associate | 29,658 | ||||||||
Other assets | 1,989,664 | ||||||||
Total liabilities | ₩ 50,762 | ||||||||
[1]Consolidation adjustments include the elimination of KRW 274,768 million of internal transactions between Woori FIS Co., Ltd., the group’s IT service agency, and affiliates, and the removal of KRW 692,605 million of dividends received by the holding company from its subsidiaries.[2]Consolidation adjustments include the elimination of KRW 252,922 million of internal transactions between Woori FIS Co., Ltd., the group’s IT service agency, and affiliates, and the removal of KRW 680,375 million of dividends received by the holding company from its subsidiaries.[3]Internal reconciliation includes the adjustment of deposit insurance premiums of KRW 406,276 million and fund contribution fees of KRW 367,961 million from net interest income expenses to non-interest income expenses in order to present the profit and loss adjustment between reporting divisions in accordance with management accounting standards as profit and loss in accordance with accounting standards.[4]Internal reconciliation includes the adjustment of deposit insurance premiums of KRW 371,054 million and fund contribution fees of KRW 327,911 million from net interest income expenses to non-interest income expenses in order to present the profit and loss adjustment between reporting divisions in accordance with management accounting standards as profit and loss in accordance with accounting standards[5]Other segments includes the funds subject to Group’s consolidated not included in the reporting segment.[6]Other segments include gains and losses from Woori Financial Group Inc., Woori Asset Trust Co., Ltd., Woori Savings Bank, Woori Asset Management Corp., Woori Financial F&I Co., Ltd., Woori Credit Information Co., Ltd., Woori Fund Service Co., Ltd., Woori Private Equity Asset Management Co., Ltd., Woori Global Asset Management Co., Ltd., Woori FIS Co., Ltd. and Woori Finance Research Institute.[7]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. |
Operating Segments - Informatio
Operating Segments - Information on geographical areas (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2020 KRW (₩) | |
Disclosure of geographical areas [line items] | ||||
Operating income(expense) | ₩ 4,430,524 | $ 3,515,731 | ₩ 3,659,749 | ₩ 2,080,394 |
Major non-current assets | 5,685,387 | 5,684,768 | ||
Domestic customers | ||||
Disclosure of geographical areas [line items] | ||||
Operating income(expense) | 3,835,809 | 3,288,341 | 1,869,516 | |
Major non-current assets | 5,152,033 | 5,201,838 | ||
Foreign customers | ||||
Disclosure of geographical areas [line items] | ||||
Operating income(expense) | 594,715 | 371,408 | ₩ 210,878 | |
Major non-current assets | ₩ 533,354 | ₩ 482,930 |
Operating Segments - Informat_2
Operating Segments - Information about major customers (Details) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
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, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 KRW (₩) | Dec. 31, 2019 KRW (₩) |
Cash and cash equivalents [abstract] | ||||||
Cash | ₩ 1,771,316 | ₩ 1,742,449 | ||||
Foreign currencies | 628,590 | 503,205 | ||||
Demand deposits | 31,729,228 | 18,208,784 | ||||
Fixed deposits | 90,014 | 158,635 | ||||
Total | ₩ 34,219,148 | $ 27,153,744 | ₩ 20,613,073 | $ 16,356,985 | ₩ 17,343,237 | ₩ 17,753,709 |
Statements of cash flows - Su_2
Statements of cash flows - Summary of restricted cash and cash equivalents (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure Of Restricted Cash And Cash Equivalents [Line Items] | ||
Restricted cash and cash equivalents | ₩ 22,965,162 | ₩ 13,047,255 |
Due In Local Currency From BOK [Member] | ||
Disclosure Of Restricted Cash And Cash Equivalents [Line Items] | ||
Restricted cash and cash equivalents | 16,527,445 | 9,619,055 |
Due In Foreign Currency From Banks On Demand [Member] | ||
Disclosure Of Restricted Cash And Cash Equivalents [Line Items] | ||
Restricted cash and cash equivalents | ₩ 6,437,717 | ₩ 3,428,200 |
Statements of cash flows - Su_3
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, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2020 KRW (₩) | |
Cash Flow Noncash Investing and Financing Activities Disclosure [Abstract] | ||||
Changes in other comprehensive income related to valuation of financial assets at FVTOCI | ₩ (493,871) | $ (391,899) | ₩ (150,327) | ₩ 59,360 |
Changes in other comprehensive income related to valuation of assets of associate | 612 | 1,526 | (2,298) | |
Changes in other comprehensive income related to valuation profit or loss on cash flow hedge | (9,835) | (7,804) | 7,107 | 4,420 |
Changes in financial assets measure at FVTOCI due to debt-for-equity swap | 14,594 | 79 | 3,575 | |
Changes in the investment assets of associates due to the transfer of assets held-for-sale | 0 | (52) | (50,411) | |
Changes in financial assets at FVTPL and assets held-for-sale | 0 | 0 | (2,385) | |
Changes in the property, plant and equipment due to the transfer of assets held-for-sale | (13,109) | (12,852) | 0 | |
Transfer of investment properties and premises and equipment | 7,153 | 6,095 | 30,431 | |
Changes in account payables related to premises and equipment | 281 | 0 | 0 | |
Changes in account payables related to intangible assets | (11,530) | (11,640) | (11,639) | |
Changes in right-of-use assets and lease liabilities | 194,236 | 150,644 | 222,587 | |
Comprehensive stock exchange | 0 | 64,301 | 0 | |
Changes in other comprehensive income related to foreign operation translation | ₩ 32,536 | $ 25,818 | ₩ 246,808 | ₩ (153,472) |
Statements of cash flows - Su_4
Statements of cash flows - Summary of Adjustments from Financing Activities (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||||
Beginning balance | ₩ 69,779,443 | ₩ 58,658,609 | ||
Changes in liabilities arising from financing activities [abstract] | ||||
Cash flow | 2,209,783 | 9,929,953 | ||
Not involving cash inflows and outflows | ||||
Foreign Exchange | 1,063,424 | 1,207,676 | ||
Variation of gains on valuation of hedged items | (257,910) | (104,306) | ||
Others | 179,894 | [1] | 87,511 | [2] |
Ending balance | 72,974,634 | 69,779,443 | ||
Borrowing [Member] | ||||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||||
Beginning balance | 24,755,459 | 20,745,466 | ||
Changes in liabilities arising from financing activities [abstract] | ||||
Cash flow | 2,881,675 | 3,199,712 | ||
Not involving cash inflows and outflows | ||||
Foreign Exchange | 760,918 | 804,649 | ||
Variation of gains on valuation of hedged items | 0 | 0 | ||
Others | 31,551 | [1] | 5,632 | [2] |
Ending balance | 28,429,603 | 24,755,459 | ||
Debentures | ||||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||||
Beginning balance | 44,653,864 | 37,479,358 | ||
Changes in liabilities arising from financing activities [abstract] | ||||
Cash flow | (484,874) | 6,893,661 | ||
Not involving cash inflows and outflows | ||||
Foreign Exchange | 297,861 | 392,077 | ||
Variation of gains on valuation of hedged items | (257,910) | (104,306) | ||
Others | (10,455) | [1] | (6,926) | [2] |
Ending balance | 44,198,486 | 44,653,864 | ||
Lease liabilities | ||||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||||
Beginning balance | 343,213 | 407,431 | ||
Changes in liabilities arising from financing activities [abstract] | ||||
Cash flow | (187,531) | (177,593) | ||
Not involving cash inflows and outflows | ||||
Foreign Exchange | 4,645 | 10,950 | ||
Variation of gains on valuation of hedged items | 0 | 0 | ||
Others | 158,834 | [1] | 102,425 | [2] |
Ending balance | 319,161 | 343,213 | ||
Other Liabilities | ||||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||||
Beginning balance | 26,907 | 26,354 | ||
Changes in liabilities arising from financing activities [abstract] | ||||
Cash flow | 513 | 14,173 | ||
Not involving cash inflows and outflows | ||||
Foreign Exchange | 0 | 0 | ||
Variation of gains on valuation of hedged items | 0 | 0 | ||
Others | (36) | [1] | (13,620) | [2] |
Ending balance | ₩ 27,384 | ₩ 26,907 | ||
[1]The change in lease liabilities due to the new contract includes 235,215 million won.[2]The change in lease liabilities due to the new contract includes 189,660 million won. |
Statements of cash flows - Su_5
Statements of cash flows - Summary of Adjustments from Financing Activities (Parenthetical) (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of reconciliation of liabilities arising from financing activities [abstract] | ||
Lease liabilities | ₩ 235,215 | ₩ 189,660 |
Financial assets at FVTPL - Det
Financial assets at FVTPL - Details of financial assets at FVTPL (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) |
Disclosure of financial assets at fair value through profit or loss [Line Items] | |||
Financial assets at FVTPL mandatorily measured at fair value | ₩ 19,860,573 | ₩ 13,497,234 | |
Total | 19,860,573 | $ 15,759,858 | 13,497,234 |
Deposits | |||
Disclosure of financial assets at fair value through profit or loss [Line Items] | |||
Total | 34,995 | 65,072 | |
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 | 34,995 | 65,072 | |
Securities | |||
Disclosure of financial assets at fair value through profit or loss [Line Items] | |||
Total | 10,676,985 | 7,960,046 | |
Debt Securities | |||
Disclosure of financial assets at fair value through profit or loss [Line Items] | |||
Financial assets at FVTPL mandatorily measured at fair value | 10,676,985 | 7,960,046 | |
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 | 2,754,442 | 995,713 | |
Financial institutions | |||
Disclosure of financial assets at fair value through profit or loss [Line Items] | |||
Financial assets at FVTPL mandatorily measured at fair value | 620,311 | 925,474 | |
Corporates [Member] | |||
Disclosure of financial assets at fair value through profit or loss [Line Items] | |||
Financial assets at FVTPL mandatorily measured at fair value | 721,573 | 751,636 | |
Equity securities | |||
Disclosure of financial assets at fair value through profit or loss [Line Items] | |||
Financial assets at FVTPL mandatorily measured at fair value | 383,883 | 329,864 | |
Capital contributions | |||
Disclosure of financial assets at fair value through profit or loss [Line Items] | |||
Financial assets at FVTPL mandatorily measured at fair value | 1,976,474 | 1,287,723 | |
Beneficiary certificates | |||
Disclosure of financial assets at fair value through profit or loss [Line Items] | |||
Financial assets at FVTPL mandatorily measured at fair value | 3,902,762 | 3,504,547 | |
Others | |||
Disclosure of financial assets at fair value through profit or loss [Line Items] | |||
Financial assets at FVTPL mandatorily measured at fair value | 143,334 | 94,673 | |
Loans | |||
Disclosure of financial assets at fair value through profit or loss [Line Items] | |||
Financial assets at FVTPL mandatorily measured at fair value | 899,228 | 667,467 | |
Derivative assets | |||
Disclosure of financial assets at fair value through profit or loss [Line Items] | |||
Financial assets at FVTPL mandatorily measured at fair value | 8,206,181 | 4,803,131 | |
Total | 8,206,181 | 4,803,131 | |
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 | 43,184 | 1,518 | |
Total | 43,184 | 1,518 | |
Others [Member] | |||
Disclosure of financial assets at fair value through profit or loss [Line Items] | |||
Financial assets at FVTPL mandatorily measured at fair value | ₩ 174,206 | ₩ 70,416 |
Financial assets at FVTOCI - De
Financial assets at FVTOCI - Details of financial assets at FVTOCI (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2020 KRW (₩) | Dec. 31, 2019 KRW (₩) |
Disclosure of financial assets at fair value through other comprehensive income [Line Items] | |||||
Debt securities | ₩ 32,145,758 | ₩ 38,126,977 | |||
Equity securities | 939,322 | 992,812 | |||
Total | 33,085,080 | $ 26,253,833 | 39,119,789 | ||
Financial assets at fair value through other comprehensive income, category [member] | |||||
Disclosure of financial assets at fair value through other comprehensive income [Line Items] | |||||
Debt securities | 32,145,758 | 38,126,977 | ₩ 28,948,141 | ₩ 26,795,161 | |
Debt Securities | |||||
Disclosure of financial assets at fair value through other comprehensive income [Line Items] | |||||
Debt securities | 32,145,758 | 38,126,977 | |||
Korean treasury and government agencies | |||||
Disclosure of financial assets at fair value through other comprehensive income [Line Items] | |||||
Debt securities | 5,487,983 | 4,728,085 | |||
Financial institutions | |||||
Disclosure of financial assets at fair value through other comprehensive income [Line Items] | |||||
Debt securities | 16,870,619 | 22,909,615 | |||
Corporates | |||||
Disclosure of financial assets at fair value through other comprehensive income [Line Items] | |||||
Debt securities | 4,044,446 | 5,091,035 | |||
Bond denominated in foreign currencies | |||||
Disclosure of financial assets at fair value through other comprehensive income [Line Items] | |||||
Debt securities | 5,644,684 | 5,299,707 | |||
Securities Loaned | |||||
Disclosure of financial assets at fair value through other comprehensive income [Line Items] | |||||
Debt securities | 98,026 | 98,535 | |||
Equity securities | |||||
Disclosure of financial assets at fair value through other comprehensive income [Line Items] | |||||
Equity securities | ₩ 939,322 | ₩ 992,812 |
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, 2022 | Dec. 31, 2021 | |
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 | ₩ 939,322 | ₩ 992,812 |
Fair value | 3,567 | 138,511 |
Cumulative gain (loss) on disposal of investments in equity instruments designated at fair value through other comprehensive income | 14,444 | 3,062 |
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 | ₩ 776,199 | ₩ 796,835 |
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 | ₩ 157,216 | ₩ 195,971 |
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 | ₩ 5,907 | ₩ 6 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Increase (decrease) in impairment loss financial assets at financial assets at fair value through other comprehensive income [Abstract] | ||||
Net reversal (provision) of loss allowance | ₩ 827 | ₩ (4,909) | ₩ (1,529) | |
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 | (12,146) | (9,631) | (8,569) | |
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 | |
Net reversal (provision) of loss allowance | 827 | (4,909) | (1,529) | |
Disposal | 714 | 2,378 | 764 | |
Others | [1] | (1,200) | 16 | (297) |
Ending balance | (11,805) | (12,146) | (9,631) | |
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 | (12,146) | (9,631) | (8,569) | |
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 | |
Net reversal (provision) of loss allowance | 827 | (4,909) | (1,529) | |
Disposal | 714 | 2,378 | 764 | |
Others | [1] | (1,200) | 16 | (297) |
Ending balance | (11,805) | (12,146) | (9,631) | |
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 | 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 | |
Net reversal (provision) of loss allowance | 0 | 0 | 0 | |
Disposal | 0 | 0 | 0 | |
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 | |
Net reversal (provision) of loss allowance | 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) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Explanation of changes in gross carrying amount for financial assets at fair value through other comprehensive income [Line Items] | ||||
Beginning balance | ₩ 38,126,977 | |||
Increase (decrease) in financial assets [abstract] | ||||
Ending balance | 32,145,758 | ₩ 38,126,977 | ||
Financial assets at fair value through other comprehensive income, category [member] | ||||
Explanation of changes in gross carrying amount for financial assets at fair value through other comprehensive income [Line Items] | ||||
Beginning balance | 38,126,977 | 28,948,141 | ₩ 26,795,161 | |
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 | 16,108,426 | 30,522,426 | 22,970,010 | |
Disposal / Recovery | (21,670,160) | (21,533,360) | (20,530,076) | |
Gain (loss) on valuation | (669,936) | (213,517) | 17,957 | |
Amortization based on effective interest method | 41,813 | 31,641 | (12,545) | |
Others | [1] | 208,638 | 371,646 | (292,366) |
Ending balance | 32,145,758 | 38,126,977 | 28,948,141 | |
Financial assets at fair value through other comprehensive income, category [member] | Stage 1 | ||||
Explanation of changes in gross carrying amount for financial assets at fair value through other comprehensive income [Line Items] | ||||
Beginning balance | 38,126,977 | 28,948,141 | 26,795,161 | |
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 | 16,108,426 | 30,522,426 | 22,970,010 | |
Disposal / Recovery | (21,670,160) | (21,533,360) | (20,530,076) | |
Gain (loss) on valuation | (669,936) | (213,517) | 17,957 | |
Amortization based on effective interest method | 41,813 | 31,641 | (12,545) | |
Others | [1] | 208,638 | 371,646 | (292,366) |
Ending balance | 32,145,758 | 38,126,977 | 28,948,141 | |
Financial assets at fair value through other comprehensive income, category [member] | Stage 2 | ||||
Explanation of changes in gross carrying amount for financial assets at fair value through other comprehensive income [Line Items] | ||||
Beginning balance | 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 | |
Others | [1] | 0 | 0 | 0 |
Ending balance | 0 | 0 | 0 | |
Financial assets at fair value through other comprehensive income, category [member] | Stage 3 | ||||
Explanation of changes in gross carrying amount for financial assets at fair value through other comprehensive income [Line Items] | ||||
Beginning balance | 0 | 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 | |
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, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) |
Disclosure of securities at amortised cost and held to maturity financial assets [Line Items] | |||
Securities at amortized cost | ₩ 28,268,516 | $ 22,431,770 | ₩ 17,086,274 |
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 | 10,083,951 | 8,882,500 | |
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 | 10,283,631 | 1,835,947 | |
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 | 6,237,547 | 5,818,646 | |
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 | 1,671,772 | 554,416 | |
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 | ₩ (8,385) | ₩ (5,235) |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Increase (decrease) in impairment loss securities at amortised cost [Abstract] | ||||
Net reversal (provision) of loss allowance for credit losses | ₩ (881,668) | ₩ (551,957) | ₩ (792,250) | |
Securities at amortized cost | ||||
Disclosure of reconciliation of changes in loss allowance for securities at amortised cost [Line Items] | ||||
Beginning balance | (5,235) | (4,566) | (5,511) | |
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 | (3,151) | (664) | 934 | |
Others | [1] | 1 | (5) | 11 |
Ending balance | (8,385) | (5,235) | (4,566) | |
Securities at amortized cost | Stage 1 | ||||
Disclosure of reconciliation of changes in loss allowance for securities at amortised cost [Line Items] | ||||
Beginning balance | (5,235) | (4,566) | (5,511) | |
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 | (3,151) | (664) | 934 | |
Others | [1] | 1 | (5) | 11 |
Ending balance | (8,385) | (5,235) | (4,566) | |
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]Changes due to 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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Explanation of changes in gross carrying amount for securities at amortised cost [Line Items] | ||||
Beginning balance | ₩ 17,091,509 | ₩ 17,025,405 | ₩ 20,326,050 | |
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 | 16,873,194 | 6,435,692 | 2,380,448 | |
Disposal / Recovery | (5,871,234) | (6,425,408) | (5,659,365) | |
Amortization based on effective interest method | 86,212 | 14,810 | (396) | |
Others | [1] | 97,220 | 41,010 | (21,332) |
Ending balance | 28,276,901 | 17,091,509 | 17,025,405 | |
Stage 1 | ||||
Explanation of changes in gross carrying amount for securities at amortised cost [Line Items] | ||||
Beginning balance | 17,091,509 | 17,025,405 | 20,326,050 | |
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 | 16,873,194 | 6,435,692 | 2,380,448 | |
Disposal / Recovery | (5,871,234) | (6,425,408) | (5,659,365) | |
Amortization based on effective interest method | 86,212 | 14,810 | (396) | |
Others | [1] | 97,220 | 41,010 | (21,332) |
Ending balance | 28,276,901 | 17,091,509 | 17,025,405 | |
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]Changes due to 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, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | ||
Disclosure of loans and other financial assets at amortised cost and loans and receivables [Abstract] | |||||
Due from banks | ₩ 2,994,672 | ₩ 2,866,884 | |||
Loans | 343,918,560 | 336,799,510 | |||
Other financial assets | 8,847,497 | 9,219,223 | |||
Total | ₩ 355,760,729 | [1] | $ 282,304,975 | ₩ 348,885,617 | [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, 2022 | Dec. 31, 2021 |
Cash and cash equivalents [Line Items] | ||
Total | ₩ 2,994,672 | ₩ 2,866,884 |
Due from banks in local currency | ||
Cash and cash equivalents [Line Items] | ||
Total | 753,831 | 962,513 |
Due from banks in local currency | Allowance for credit losses | ||
Cash and cash equivalents [Line Items] | ||
Total | (116) | (2,452) |
Due from banks in local currency | Due from The Bank of Korea ("BOK") | Gross carrying amount [member] | ||
Cash and cash equivalents [Line Items] | ||
Total | 160,000 | 600,000 |
Due from banks in local currency | Due from the depository banks | Gross carrying amount [member] | ||
Cash and cash equivalents [Line Items] | ||
Total | 170,006 | 159,264 |
Due from banks in local currency | Due from non-depository institutions | Gross carrying amount [member] | ||
Cash and cash equivalents [Line Items] | ||
Total | 183 | 14,146 |
Due from banks in local currency | Due from the Korea Exchange | Gross carrying amount [member] | ||
Cash and cash equivalents [Line Items] | ||
Total | 2,440 | 54 |
Due from banks in local currency | Others | Gross carrying amount [member] | ||
Cash and cash equivalents [Line Items] | ||
Total | 421,318 | 191,501 |
Due from banks in foreign currencies | ||
Cash and cash equivalents [Line Items] | ||
Total | 2,240,841 | 1,904,371 |
Due from banks in foreign currencies | Allowance for credit losses | ||
Cash and cash equivalents [Line Items] | ||
Total | (12,201) | (3,582) |
Due from banks in foreign currencies | Due from banks on demand | Gross carrying amount [member] | ||
Cash and cash equivalents [Line Items] | ||
Total | 199,671 | 194,781 |
Due from banks in foreign currencies | Due from banks on time | Gross carrying amount [member] | ||
Cash and cash equivalents [Line Items] | ||
Total | 466,963 | 205,351 |
Due from banks in foreign currencies | Others | Gross carrying amount [member] | ||
Cash and cash equivalents [Line Items] | ||
Total | ₩ 1,586,408 | ₩ 1,507,821 |
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, 2022 | Dec. 31, 2021 | |
Restricted due from financial institutions [Line Items] | ||
Total | ₩ 2,161,182 | ₩ 2,307,154 |
Due from banks in local currency | ||
Restricted due from financial institutions [Line Items] | ||
Total | 386,124 | 675,951 |
Due from banks in local currency | Due from The BOK | ||
Restricted due from financial institutions [Line Items] | ||
Total | ₩ 160,000 | ₩ 600,000 |
Reason of restriction | Reserve deposits under BOK Act | Reserve deposits under the BOK Act |
Counterparty | BOK | The BOK |
Due from banks in local currency | Due from KSFC | ||
Restricted due from financial institutions [Line Items] | ||
Total | ₩ 2,419 | ₩ 54 |
Reason of restriction | Customer deposits return reserve | Futures trading margin |
Counterparty | The Korea Securities Finance Corporation | KB Securities Co. Ltd. |
Due from banks in local currency | Others | ||
Restricted due from financial institutions [Line Items] | ||
Total | ₩ 223,705 | ₩ 75,897 |
Reason of restriction | Korean Won CCP margin and others | Guarantees, mortgage of domestic exchange transactions and others |
Counterparty | Korea Exchange and others | Korea Federation of Savings Banks and others |
Due from banks in foreign currencies | ||
Restricted due from financial institutions [Line Items] | ||
Total | ₩ 1,775,058 | ₩ 1,631,203 |
Due from banks in foreign currencies | Due from banks on demand | ||
Restricted due from financial institutions [Line Items] | ||
Total | ₩ 193,507 | ₩ 128,492 |
Reason of restriction | Reserve deposits under BOK Act and others | Reserve deposits under the BOK Act and others |
Counterparty | 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] | ||
Total | ₩ 253 | |
Reason of restriction | Reserve deposits and others | |
Counterparty | National Bank Cambodia | |
Due from banks in foreign currencies | Others | ||
Restricted due from financial institutions [Line Items] | ||
Total | ₩ 1,581,298 | ₩ 1,502,474 |
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 |
Due from banks in foreign currencies | Foreign currency deposits on time | ||
Restricted due from financial institutions [Line Items] | ||
Total | ₩ 237 | |
Reason of restriction | Reserve deposits and others | |
Counterparty | National Bank Cambodia |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |||
Reconciliation of changes in loss allowance for due from financial institutions [Line Items] | |||||
Beginning balance | ₩ (6,034) | ₩ (4,366) | ₩ (4,860) | ||
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 | (7,702) | (1,477) | 315 | ||
Others | 1,419 | (191) | [1] | 179 | [1] |
Ending balance | (12,317) | (6,034) | (4,366) | ||
Stage 1 | |||||
Reconciliation of changes in loss allowance for due from financial institutions [Line Items] | |||||
Beginning balance | (6,034) | (4,366) | (4,860) | ||
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 | (7,702) | (1,477) | 315 | ||
Others | 1,419 | (191) | [1] | 179 | [1] |
Ending balance | (12,317) | (6,034) | (4,366) | ||
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 | 0 | 0 | [1] | 0 | [1] |
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 | 0 | 0 | [1] | 0 | [1] |
Ending balance | ₩ 0 | ₩ 0 | ₩ 0 | ||
[1]Changes due to 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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Reconciliation of changes in gross carrying amount of due from financial institutions [Line Items] | ||||
Beginning balance | ₩ 2,872,918 | ₩ 2,515,273 | ₩ 3,135,940 | |
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 | 166,693 | 282,987 | (750,163) | |
Business combination | 129,825 | |||
Others | [1] | (32,622) | 74,658 | (329) |
Ending balance | 3,006,989 | 2,872,918 | 2,515,273 | |
Stage 1 | ||||
Reconciliation of changes in gross carrying amount of due from financial institutions [Line Items] | ||||
Beginning balance | 2,872,918 | 2,515,273 | 3,135,940 | |
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 | 166,693 | 282,987 | (750,163) | |
Business combination | 129,825 | |||
Others | [1] | (32,622) | 74,658 | (329) |
Ending balance | 3,006,989 | 2,872,918 | 2,515,273 | |
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 | |||
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 | |||
Others | [1] | 0 | 0 | 0 |
Ending balance | ₩ 0 | ₩ 0 | ₩ 0 | |
[1]Changes due to 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, 2022 | Dec. 31, 2021 | |
Disclosure of loans other than banks [Line Items] | ||
Discounted present value | ₩ (10,238) | ₩ (7,299) |
Allowance for credit losses | (2,334,153) | (1,886,710) |
Total | 343,918,560 | 336,799,510 |
Loans in local currency | Gross carrying amount [member] | ||
Disclosure of loans other than banks [Line Items] | ||
Gross carrying amount | 282,686,620 | 273,283,542 |
Loans in foreign currencies | Gross carrying amount [member] | ||
Disclosure of loans other than banks [Line Items] | ||
Gross carrying amount | 26,988,360 | 24,508,250 |
Domestic banker's usance | Gross carrying amount [member] | ||
Disclosure of loans other than banks [Line Items] | ||
Gross carrying amount | 2,877,079 | 3,403,021 |
Credit card accounts | Gross carrying amount [member] | ||
Disclosure of loans other than banks [Line Items] | ||
Gross carrying amount | 10,370,362 | 9,757,115 |
Bills bought in foreign currencies | Gross carrying amount [member] | ||
Disclosure of loans other than banks [Line Items] | ||
Gross carrying amount | 3,650,792 | 5,310,080 |
Bills bought in local currency | Gross carrying amount [member] | ||
Disclosure of loans other than banks [Line Items] | ||
Gross carrying amount | 533,879 | 265,275 |
Factoring receivables | Gross carrying amount [member] | ||
Disclosure of loans other than banks [Line Items] | ||
Gross carrying amount | 25,469 | 17,406 |
Advances for customers on guarantees | Gross carrying amount [member] | ||
Disclosure of loans other than banks [Line Items] | ||
Gross carrying amount | 25,698 | 26,766 |
Private placement bonds | Gross carrying amount [member] | ||
Disclosure of loans other than banks [Line Items] | ||
Gross carrying amount | 485,519 | 519,150 |
Securitized loans | Gross carrying amount [member] | ||
Disclosure of loans other than banks [Line Items] | ||
Gross carrying amount | 2,990,937 | 2,874,480 |
Call loans | Gross carrying amount [member] | ||
Disclosure of loans other than banks [Line Items] | ||
Gross carrying amount | 3,626,226 | 3,481,219 |
Bonds purchased under resale agreements | Gross carrying amount [member] | ||
Disclosure of loans other than banks [Line Items] | ||
Gross carrying amount | 6,849,038 | 10,332,858 |
Financial lease receivables | Gross carrying amount [member] | ||
Disclosure of loans other than banks [Line Items] | ||
Gross carrying amount | 1,467,858 | 1,173,751 |
Installment financial bond | Gross carrying amount [member] | ||
Disclosure of loans other than banks [Line Items] | ||
Gross carrying amount | 2,832,972 | 2,882,396 |
Others | Gross carrying amount [member] | ||
Disclosure of loans other than banks [Line Items] | ||
Gross carrying amount | 140 | 159 |
Loan origination costs and fees | Gross carrying amount [member] | ||
Disclosure of loans other than banks [Line Items] | ||
Gross carrying amount | ₩ 852,002 | ₩ 858,051 |
Loans and other financial ass_9
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Stage 1 | |||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | |||
Beginning balance | ₩ (568,100) | ₩ (511,699) | ₩ (484,132) |
Changes in allowance account for credit losses of financial assets [abstract] | |||
Transfer to 12-month expected credit losses | (127,446) | (130,977) | (64,934) |
Transfer to lifetime expected credit losses | 36,465 | 30,804 | 37,737 |
Transfer to credit-impaired financial assets | 6,819 | 4,670 | 7,783 |
Net reversal(provision) of allowance for credit losses | (2,560) | 58,000 | 24,995 |
Recovery | 0 | 0 | 0 |
Charge-off | 0 | 0 | 0 |
Disposal | 280 | 0 | 0 |
Interest income from impaired loans | 0 | 0 | 0 |
Changes due to business combinations | (13,265) | (45,030) | |
Others | (4,829) | (18,898) | 11,882 |
Ending balance | (672,636) | (568,100) | (511,699) |
Stage 2 | |||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | |||
Beginning balance | (789,833) | (696,851) | (447,213) |
Changes in allowance account for credit losses of financial assets [abstract] | |||
Transfer to 12-month expected credit losses | 121,040 | 96,219 | 59,872 |
Transfer to lifetime expected credit losses | (40,764) | (55,323) | (68,726) |
Transfer to credit-impaired financial assets | 23,934 | 29,584 | 16,399 |
Net reversal(provision) of allowance for credit losses | (390,701) | (169,108) | (235,164) |
Recovery | 0 | 0 | 0 |
Charge-off | 0 | 0 | 0 |
Disposal | 190 | 0 | 13 |
Interest income from impaired loans | 0 | 0 | 0 |
Changes due to business combinations | 2,576 | (33,293) | |
Others | (579) | 5,646 | 11,261 |
Ending balance | (1,074,137) | (789,833) | (696,851) |
Stage 3 | |||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | |||
Beginning balance | (528,777) | (699,974) | (643,675) |
Changes in allowance account for credit losses of financial assets [abstract] | |||
Transfer to 12-month expected credit losses | 6,406 | 34,758 | 5,062 |
Transfer to lifetime expected credit losses | 4,299 | 24,519 | 30,989 |
Transfer to credit-impaired financial assets | (30,753) | (34,254) | (24,182) |
Net reversal(provision) of allowance for credit losses | (467,893) | (444,083) | (577,060) |
Recovery | (179,808) | (195,786) | (203,482) |
Charge-off | 522,874 | 627,871 | 671,237 |
Disposal | 67,480 | 104,544 | 76,399 |
Interest income from impaired loans | 21,381 | 26,415 | 25,735 |
Changes due to business combinations | (1,517) | (96,404) | |
Others | (1,045) | 27,213 | 35,407 |
Ending balance | (587,353) | (528,777) | (699,974) |
Consumers | Stage 1 | |||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | |||
Beginning balance | (136,520) | (121,527) | (85,148) |
Changes in allowance account for credit losses of financial assets [abstract] | |||
Transfer to 12-month expected credit losses | (21,684) | (23,328) | (20,839) |
Transfer to lifetime expected credit losses | 10,211 | 9,201 | 9,137 |
Transfer to credit-impaired financial assets | 3,960 | 2,752 | 3,549 |
Net reversal(provision) of allowance for credit losses | (734) | (4,456) | 5,142 |
Recovery | 0 | 0 | 0 |
Charge-off | 0 | 0 | 0 |
Disposal | 0 | 0 | 0 |
Interest income from impaired loans | 0 | 0 | 0 |
Changes due to business combinations | 1,241 | (31,327) | |
Others | (4,350) | 838 | (2,041) |
Ending balance | (147,876) | (136,520) | (121,527) |
Consumers | Stage 2 | |||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | |||
Beginning balance | (97,604) | (84,463) | (77,962) |
Changes in allowance account for credit losses of financial assets [abstract] | |||
Transfer to 12-month expected credit losses | 21,210 | 19,736 | 20,050 |
Transfer to lifetime expected credit losses | (11,568) | (11,466) | (10,800) |
Transfer to credit-impaired financial assets | 8,975 | 9,918 | 4,913 |
Net reversal(provision) of allowance for credit losses | (49,398) | (32,764) | (10,042) |
Recovery | 0 | 0 | 0 |
Charge-off | 0 | 0 | 0 |
Disposal | 62 | 0 | 0 |
Interest income from impaired loans | 0 | 0 | 0 |
Changes due to business combinations | 729 | (15,129) | |
Others | (495) | 1,435 | 4,507 |
Ending balance | (128,089) | (97,604) | (84,463) |
Consumers | Stage 3 | |||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | |||
Beginning balance | (206,617) | (205,693) | (125,588) |
Changes in allowance account for credit losses of financial assets [abstract] | |||
Transfer to 12-month expected credit losses | 474 | 3,592 | 789 |
Transfer to lifetime expected credit losses | 1,357 | 2,265 | 1,663 |
Transfer to credit-impaired financial assets | (12,935) | (12,670) | (8,462) |
Net reversal(provision) of allowance for credit losses | (156,286) | (130,424) | (125,923) |
Recovery | (70,077) | (75,058) | (71,277) |
Charge-off | 161,850 | 174,012 | 181,713 |
Disposal | 21,862 | 14,890 | 5,640 |
Interest income from impaired loans | 11,805 | 13,743 | 10,790 |
Changes due to business combinations | 7,573 | (72,040) | |
Others | (948) | 8,726 | (2,998) |
Ending balance | (241,942) | (206,617) | (205,693) |
Corporates | Stage 1 | |||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | |||
Beginning balance | (362,766) | (327,460) | (324,258) |
Changes in allowance account for credit losses of financial assets [abstract] | |||
Transfer to 12-month expected credit losses | (74,402) | (80,803) | (29,117) |
Transfer to lifetime expected credit losses | 18,678 | 14,106 | 19,259 |
Transfer to credit-impaired financial assets | 2,217 | 1,562 | 3,607 |
Net reversal(provision) of allowance for credit losses | (22,646) | 49,562 | 2,831 |
Recovery | 0 | 0 | 0 |
Charge-off | 0 | 0 | 0 |
Disposal | 280 | 0 | 0 |
Interest income from impaired loans | 0 | 0 | 0 |
Changes due to business combinations | (14,503) | (13,703) | |
Others | (479) | (19,733) | 13,921 |
Ending balance | (453,621) | (362,766) | (327,460) |
Corporates | Stage 2 | |||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | |||
Beginning balance | (576,740) | (521,907) | (297,718) |
Changes in allowance account for credit losses of financial assets [abstract] | |||
Transfer to 12-month expected credit losses | 68,546 | 49,902 | 25,067 |
Transfer to lifetime expected credit losses | (21,502) | (35,706) | (48,184) |
Transfer to credit-impaired financial assets | 12,769 | 18,741 | 10,349 |
Net reversal(provision) of allowance for credit losses | (303,198) | (91,981) | (200,024) |
Recovery | 0 | 0 | 0 |
Charge-off | 0 | 0 | 0 |
Disposal | 128 | 0 | 13 |
Interest income from impaired loans | 0 | 0 | 0 |
Changes due to business combinations | 1,847 | (18,164) | |
Others | (84) | 4,211 | 6,754 |
Ending balance | (818,234) | (576,740) | (521,907) |
Corporates | Stage 3 | |||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | |||
Beginning balance | (251,233) | (388,744) | (390,045) |
Changes in allowance account for credit losses of financial assets [abstract] | |||
Transfer to 12-month expected credit losses | 5,856 | 30,901 | 4,050 |
Transfer to lifetime expected credit losses | 2,824 | 21,600 | 28,925 |
Transfer to credit-impaired financial assets | (14,986) | (20,303) | (13,956) |
Net reversal(provision) of allowance for credit losses | (107,038) | (168,323) | (271,265) |
Recovery | (55,743) | (55,108) | (66,179) |
Charge-off | 140,744 | 233,507 | 243,634 |
Disposal | 37,722 | 64,078 | 47,106 |
Interest income from impaired loans | 9,576 | 12,672 | 14,945 |
Changes due to business combinations | (9,090) | (24,364) | |
Others | (97) | 18,487 | 38,405 |
Ending balance | (241,465) | (251,233) | (388,744) |
Credit card accounts | |||
Changes in allowance account for credit losses of financial assets [abstract] | |||
Net reversal(provision) of allowance for credit losses | (27) | ||
Ending balance | (27) | ||
Credit card accounts | Stage 1 | |||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | |||
Beginning balance | (68,814) | (62,712) | (74,726) |
Changes in allowance account for credit losses of financial assets [abstract] | |||
Transfer to 12-month expected credit losses | (31,360) | (26,846) | (14,978) |
Transfer to lifetime expected credit losses | 7,576 | 7,497 | 9,341 |
Transfer to credit-impaired financial assets | 642 | 356 | 627 |
Net reversal(provision) of allowance for credit losses | 20,820 | 12,894 | 17,022 |
Recovery | 0 | 0 | 0 |
Charge-off | 0 | 0 | 0 |
Disposal | 0 | 0 | 0 |
Interest income from impaired loans | 0 | 0 | 0 |
Changes due to business combinations | (3) | 0 | |
Others | 0 | (3) | 2 |
Ending balance | (71,139) | (68,814) | (62,712) |
Credit card accounts | Stage 2 | |||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | |||
Beginning balance | (115,489) | (90,481) | (71,533) |
Changes in allowance account for credit losses of financial assets [abstract] | |||
Transfer to 12-month expected credit losses | 31,284 | 26,581 | 14,755 |
Transfer to lifetime expected credit losses | (7,694) | (8,151) | (9,742) |
Transfer to credit-impaired financial assets | 2,190 | 925 | 1,137 |
Net reversal(provision) of allowance for credit losses | (38,105) | (44,363) | (25,098) |
Recovery | 0 | 0 | 0 |
Charge-off | 0 | 0 | 0 |
Disposal | 0 | 0 | 0 |
Interest income from impaired loans | 0 | 0 | 0 |
Changes due to business combinations | 0 | 0 | |
Others | 0 | 0 | 0 |
Ending balance | (127,814) | (115,489) | (90,481) |
Credit card accounts | Stage 3 | |||
Reconciliation of changes in allowance account for credit losses of financial assets [Line Items] | |||
Beginning balance | (70,927) | (105,537) | (128,042) |
Changes in allowance account for credit losses of financial assets [abstract] | |||
Transfer to 12-month expected credit losses | 76 | 265 | 223 |
Transfer to lifetime expected credit losses | 118 | 654 | 401 |
Transfer to credit-impaired financial assets | (2,832) | (1,281) | (1,764) |
Net reversal(provision) of allowance for credit losses | (204,569) | (145,336) | (179,872) |
Recovery | (53,988) | (65,620) | (66,026) |
Charge-off | 220,280 | 220,352 | 245,890 |
Disposal | 7,896 | 25,576 | 23,653 |
Interest income from impaired loans | 0 | 0 | 0 |
Changes due to business combinations | 0 | 0 | |
Others | 0 | 0 | 0 |
Ending balance | ₩ (103,946) | ₩ (70,927) | ₩ (105,537) |
Loans and other financial as_10
Loans and other financial assets at amortized cost - Changes in gross carrying amount of loans (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Stage 1 | |||
Reconciliation of changes in gross carrying amount of loans [Line Items] | |||
Beginning balance | ₩ 314,174,243 | ₩ 282,843,945 | ₩ 252,975,729 |
Changes in gross carrying amount of loans [Abstract] | |||
Transfer to 12-month expected credit losses | 6,977,862 | 6,346,889 | 5,982,269 |
Transfer to lifetime expected credit losses | (10,462,062) | (10,245,852) | (9,803,421) |
Transfer to credit-impaired financial assets | (432,009) | (370,369) | (480,530) |
Charge off | 0 | 0 | 0 |
Disposal | (48,472) | 0 | 0 |
Net increase (decrease) | 9,697,416 | 35,599,630 | 28,355,237 |
Business combination | 89,294 | 5,814,661 | |
Ending balance | 319,996,272 | 314,174,243 | 282,843,945 |
Stage 2 | |||
Reconciliation of changes in gross carrying amount of loans [Line Items] | |||
Beginning balance | 23,354,201 | 20,423,672 | 18,245,237 |
Changes in gross carrying amount of loans [Abstract] | |||
Transfer to 12-month expected credit losses | (6,948,028) | (6,291,280) | (5,956,300) |
Transfer to lifetime expected credit losses | 10,499,597 | 10,312,654 | 9,865,879 |
Transfer to credit-impaired financial assets | (246,566) | (221,985) | (234,303) |
Charge off | 0 | 0 | 0 |
Disposal | (650) | 0 | (398) |
Net increase (decrease) | (2,089,285) | (868,860) | (1,980,455) |
Business combination | 3,990 | 484,012 | |
Ending balance | 24,573,259 | 23,354,201 | 20,423,672 |
Stage 3 | |||
Reconciliation of changes in gross carrying amount of loans [Line Items] | |||
Beginning balance | 1,157,776 | 1,435,089 | 1,386,298 |
Changes in gross carrying amount of loans [Abstract] | |||
Transfer to 12-month expected credit losses | (29,834) | (55,609) | (25,969) |
Transfer to lifetime expected credit losses | (37,535) | (66,802) | (62,458) |
Transfer to credit-impaired financial assets | 678,575 | 592,354 | 714,833 |
Charge off | (522,874) | (627,871) | (671,237) |
Disposal | (208,866) | (292,886) | (262,774) |
Net increase (decrease) | 323,906 | 173,501 | 194,382 |
Business combination | 8,317 | 162,014 | |
Ending balance | 1,369,465 | 1,157,776 | 1,435,089 |
Credit impairment model | |||
Changes in gross carrying amount of loans [Abstract] | |||
Net increase (decrease) | 313,717 | ||
Ending balance | 313,717 | ||
Consumers | Stage 1 | |||
Reconciliation of changes in gross carrying amount of loans [Line Items] | |||
Beginning balance | 135,139,685 | 125,990,038 | 111,253,283 |
Changes in gross carrying amount of loans [Abstract] | |||
Transfer to 12-month expected credit losses | 4,651,157 | 4,377,247 | 4,564,471 |
Transfer to lifetime expected credit losses | (6,284,951) | (6,104,417) | (5,365,577) |
Transfer to credit-impaired financial assets | (157,808) | (108,717) | (96,197) |
Charge off | 0 | 0 | 0 |
Disposal | 0 | 0 | 0 |
Net increase (decrease) | (2,077,449) | 10,985,534 | 13,326,560 |
Business combination | 57,743 | 2,307,498 | |
Ending balance | 131,328,377 | 135,139,685 | 125,990,038 |
Consumers | Stage 2 | |||
Reconciliation of changes in gross carrying amount of loans [Line Items] | |||
Beginning balance | 13,500,783 | 12,016,711 | 12,448,807 |
Changes in gross carrying amount of loans [Abstract] | |||
Transfer to 12-month expected credit losses | (4,637,460) | (4,357,347) | (4,552,400) |
Transfer to lifetime expected credit losses | 6,303,526 | 6,127,477 | 5,388,064 |
Transfer to credit-impaired financial assets | (102,097) | (79,746) | (103,016) |
Charge off | 0 | 0 | 0 |
Disposal | (259) | 0 | 0 |
Net increase (decrease) | (1,046,885) | (206,312) | (1,289,910) |
Business combination | 2,974 | 125,166 | |
Ending balance | 14,020,582 | 13,500,783 | 12,016,711 |
Consumers | Stage 3 | |||
Reconciliation of changes in gross carrying amount of loans [Line Items] | |||
Beginning balance | 499,969 | 537,106 | 417,674 |
Changes in gross carrying amount of loans [Abstract] | |||
Transfer to 12-month expected credit losses | (13,697) | (19,900) | (12,071) |
Transfer to lifetime expected credit losses | (18,575) | (23,060) | (22,487) |
Transfer to credit-impaired financial assets | 259,905 | 188,463 | 199,213 |
Charge off | (161,850) | (174,012) | (181,713) |
Disposal | (57,052) | (48,795) | (55,349) |
Net increase (decrease) | 47,727 | 40,167 | 54,503 |
Business combination | 7,630 | 137,336 | |
Ending balance | 564,057 | 499,969 | 537,106 |
Corporates | Stage 1 | |||
Reconciliation of changes in gross carrying amount of loans [Line Items] | |||
Beginning balance | 170,795,255 | 149,574,932 | 134,443,979 |
Changes in gross carrying amount of loans [Abstract] | |||
Transfer to 12-month expected credit losses | 1,784,684 | 1,610,541 | 1,160,399 |
Transfer to lifetime expected credit losses | (3,773,713) | (3,627,800) | (3,983,614) |
Transfer to credit-impaired financial assets | (242,421) | (244,236) | (357,386) |
Charge off | 0 | 0 | 0 |
Disposal | (48,472) | 0 | 0 |
Net increase (decrease) | 11,005,551 | 23,481,818 | 14,804,391 |
Business combination | 31,551 | 3,507,163 | |
Ending balance | 179,552,435 | 170,795,255 | 149,574,932 |
Corporates | Stage 2 | |||
Reconciliation of changes in gross carrying amount of loans [Line Items] | |||
Beginning balance | 8,458,279 | 7,328,741 | 4,910,598 |
Changes in gross carrying amount of loans [Abstract] | |||
Transfer to 12-month expected credit losses | (1,768,655) | (1,575,157) | (1,146,756) |
Transfer to lifetime expected credit losses | 3,792,473 | 3,670,808 | 4,023,106 |
Transfer to credit-impaired financial assets | (123,225) | (132,986) | (120,491) |
Charge off | 0 | 0 | 0 |
Disposal | (391) | 0 | (398) |
Net increase (decrease) | (873,200) | (833,127) | (696,164) |
Business combination | 1,016 | 358,846 | |
Ending balance | 9,486,297 | 8,458,279 | 7,328,741 |
Corporates | Stage 3 | |||
Reconciliation of changes in gross carrying amount of loans [Line Items] | |||
Beginning balance | 541,732 | 717,909 | 740,257 |
Changes in gross carrying amount of loans [Abstract] | |||
Transfer to 12-month expected credit losses | (16,029) | (35,384) | (13,643) |
Transfer to lifetime expected credit losses | (18,760) | (43,008) | (39,492) |
Transfer to credit-impaired financial assets | 365,646 | 377,222 | 477,877 |
Charge off | (140,744) | (233,507) | (243,634) |
Disposal | (134,732) | (187,571) | (163,644) |
Net increase (decrease) | 28,198 | (53,929) | (64,490) |
Business combination | 687 | 24,678 | |
Ending balance | 625,998 | 541,732 | 717,909 |
Corporates | Credit impairment model | |||
Changes in gross carrying amount of loans [Abstract] | |||
Net increase (decrease) | 313,717 | ||
Ending balance | 313,717 | ||
Credit card accounts | Stage 1 | |||
Reconciliation of changes in gross carrying amount of loans [Line Items] | |||
Beginning balance | 8,239,303 | 7,278,975 | 7,278,467 |
Changes in gross carrying amount of loans [Abstract] | |||
Transfer to 12-month expected credit losses | 542,021 | 359,101 | 257,399 |
Transfer to lifetime expected credit losses | (403,398) | (513,635) | (454,230) |
Transfer to credit-impaired financial assets | (31,780) | (17,416) | (26,947) |
Charge off | 0 | 0 | 0 |
Disposal | 0 | 0 | 0 |
Net increase (decrease) | 769,314 | 1,132,278 | 224,286 |
Business combination | 0 | 0 | |
Ending balance | 9,115,460 | 8,239,303 | 7,278,975 |
Credit card accounts | Stage 2 | |||
Reconciliation of changes in gross carrying amount of loans [Line Items] | |||
Beginning balance | 1,395,139 | 1,078,220 | 885,832 |
Changes in gross carrying amount of loans [Abstract] | |||
Transfer to 12-month expected credit losses | (541,913) | (358,776) | (257,144) |
Transfer to lifetime expected credit losses | 403,598 | 514,369 | 454,709 |
Transfer to credit-impaired financial assets | (21,244) | (9,253) | (10,796) |
Charge off | 0 | 0 | 0 |
Disposal | 0 | 0 | 0 |
Net increase (decrease) | (169,200) | 170,579 | 5,619 |
Business combination | 0 | 0 | |
Ending balance | 1,066,380 | 1,395,139 | 1,078,220 |
Credit card accounts | Stage 3 | |||
Reconciliation of changes in gross carrying amount of loans [Line Items] | |||
Beginning balance | 116,075 | 180,074 | 228,367 |
Changes in gross carrying amount of loans [Abstract] | |||
Transfer to 12-month expected credit losses | (108) | (325) | (255) |
Transfer to lifetime expected credit losses | (200) | (734) | (479) |
Transfer to credit-impaired financial assets | 53,024 | 26,669 | 37,743 |
Charge off | (220,280) | (220,352) | (245,890) |
Disposal | (17,082) | (56,520) | (43,781) |
Net increase (decrease) | 247,981 | 187,263 | 204,369 |
Business combination | 0 | 0 | |
Ending balance | ₩ 179,410 | ₩ 116,075 | ₩ 180,074 |
Loans and other financial as_11
Loans and other financial assets at amortized cost - Details of other financial assets (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of other financial assets [Line Items] | |||
Other financial assets | ₩ 8,847,497 | ₩ 9,219,223 | |
Allowance for credit losses | |||
Disclosure of other financial assets [Line Items] | |||
Other financial assets | (139,180) | (66,781) | |
Cash Management Account asset (CMA asset) | Gross carrying amount [member] | |||
Disclosure of other financial assets [Line Items] | |||
Other financial assets | 157,000 | 140,000 | |
Receivables | Gross carrying amount [member] | |||
Disclosure of other financial assets [Line Items] | |||
Other financial assets | 5,438,469 | 6,852,139 | |
Accrued Income | Gross carrying amount [member] | |||
Disclosure of other financial assets [Line Items] | |||
Other financial assets | 1,667,397 | 1,049,857 | |
Telex and telephone subscription rights and refundable deposits | Gross carrying amount [member] | |||
Disclosure of other financial assets [Line Items] | |||
Other financial assets | 801,536 | 870,707 | |
Domestic exchange settlement debit | Gross carrying amount [member] | |||
Disclosure of other financial assets [Line Items] | |||
Other financial assets | 577,919 | 82,555 | |
Other assets | Gross carrying amount [member] | |||
Disclosure of other financial assets [Line Items] | |||
Other financial assets | [1] | ₩ 344,356 | ₩ 290,746 |
[1]The Group became aware of employee embezzlement incidents that occurred before the end of April 2022, and the Financial Supervisory Service conducted on-site inspections from April 28 to May 30, 2022. An accusation of embezzlement and provisional seizure of found property were made, and an investigation by an investigative agency is currently underway. Th e related amount included in other assets amounted to 63,354 million Won, which was treated as a loss in its entirety because its recoverability was uncertain. |
Loans and other financial as_12
Loans and other financial assets at amortized cost - Details of other financial assets (Parenthetical) (Details) ₩ in Millions | 12 Months Ended |
Dec. 31, 2022 KRW (₩) | |
Employee Embezzlement Incidents [Member] | |
Disclosure of other financial assets [Line Items] | |
Unusual or Uncertainty Loss, Loss in Period | ₩ 63,354 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Reconciliation of changes in allowance account for credit losses of other receivables [Line Items] | |||
Beginning balance | ₩ (66,781) | ₩ (83,295) | ₩ (77,139) |
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 | (12,785) | 4,711 | (5,336) |
Charge off | 2,223 | 9,965 | 2,151 |
Disposal | 751 | 1,400 | 1,557 |
Changes due to business combination | (4,827) | ||
Others | (62,588) | 438 | 299 |
Ending balance | (139,180) | (66,781) | (83,295) |
Stage 1 | |||
Reconciliation of changes in allowance account for credit losses of other receivables [Line Items] | |||
Beginning balance | (3,675) | (3,666) | (3,196) |
Changes in allowance account for credit losses of other receivables [Abstract] | |||
Transfer to 12-month expected credit losses | (261) | (228) | (142) |
Transfer to lifetime expected credit losses | 209 | 147 | 125 |
Transfer to credit-impaired financial assets | 981 | 167 | 23 |
Reversal (provision) of allowance for credit losses | (1,749) | 511 | (667) |
Charge off | 0 | 0 | 0 |
Disposal | 0 | 0 | 0 |
Changes due to business combination | (624) | ||
Others | 317 | (606) | 815 |
Ending balance | (4,178) | (3,675) | (3,666) |
Stage 2 | |||
Reconciliation of changes in allowance account for credit losses of other receivables [Line Items] | |||
Beginning balance | (5,580) | (5,450) | (1,666) |
Changes in allowance account for credit losses of other receivables [Abstract] | |||
Transfer to 12-month expected credit losses | 246 | 217 | 129 |
Transfer to lifetime expected credit losses | (225) | (174) | (155) |
Transfer to credit-impaired financial assets | 1,134 | 288 | 64 |
Reversal (provision) of allowance for credit losses | (4,707) | (464) | (1,589) |
Charge off | 0 | 0 | 0 |
Disposal | 0 | 0 | 0 |
Changes due to business combination | (2,235) | ||
Others | (1) | 3 | 2 |
Ending balance | (9,133) | (5,580) | (5,450) |
Stage 3 | |||
Reconciliation of changes in allowance account for credit losses of other receivables [Line Items] | |||
Beginning balance | (57,526) | (74,179) | (72,277) |
Changes in allowance account for credit losses of other receivables [Abstract] | |||
Transfer to 12-month expected credit losses | 15 | 11 | 13 |
Transfer to lifetime expected credit losses | 16 | 27 | 30 |
Transfer to credit-impaired financial assets | (2,115) | (455) | (87) |
Reversal (provision) of allowance for credit losses | (6,329) | 4,664 | (3,080) |
Charge off | 2,223 | 9,965 | 2,151 |
Disposal | 751 | 1,400 | 1,557 |
Changes due to business combination | (1,968) | ||
Others | (62,904) | 1,041 | (518) |
Ending balance | ₩ (125,869) | ₩ (57,526) | ₩ (74,179) |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Reconciliation of changes in gross carrying amount of other receivables [Line Items] | |||
Beginning balance | ₩ 9,286,004 | ₩ 7,532,031 | ₩ 8,270,365 |
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 | 24 | (9,965) | (2,151) |
Disposal | (922) | (1,716) | (1,847) |
Net increase (decrease) | (298,797) | 1,765,654 | (813,047) |
Changes due to business combination | 368 | 78,711 | |
Ending balance | 8,986,677 | 9,286,004 | 7,532,031 |
Stage 1 | |||
Reconciliation of changes in gross carrying amount of other receivables [Line Items] | |||
Beginning balance | 9,004,539 | 7,267,426 | 8,059,844 |
Changes in gross carrying amount of other receivables [Abstract] | |||
Transfer to 12-month expected credit losses | 9,765 | 8,909 | 8,760 |
Transfer to lifetime expected credit losses | (38,248) | (27,369) | (15,305) |
Transfer to credit-impaired financial assets | (1,484) | (1,877) | (1,900) |
Charge off | 0 | 0 | 0 |
Disposal | (5) | 0 | 0 |
Net increase (decrease) | (88,214) | 1,757,450 | (856,008) |
Changes due to business combination | 368 | 72,035 | |
Ending balance | 8,886,721 | 9,004,539 | 7,267,426 |
Stage 2 | |||
Reconciliation of changes in gross carrying amount of other receivables [Line Items] | |||
Beginning balance | 106,597 | 76,418 | 92,647 |
Changes in gross carrying amount of other receivables [Abstract] | |||
Transfer to 12-month expected credit losses | (9,749) | (8,894) | (8,737) |
Transfer to lifetime expected credit losses | 38,265 | 27,399 | 15,334 |
Transfer to credit-impaired financial assets | (2,824) | (1,638) | (701) |
Charge off | 0 | 0 | 0 |
Disposal | 0 | 0 | 0 |
Net increase (decrease) | (110,835) | 13,312 | (26,539) |
Changes due to business combination | 0 | 4,414 | |
Ending balance | 21,454 | 106,597 | 76,418 |
Stage 3 | |||
Reconciliation of changes in gross carrying amount of other receivables [Line Items] | |||
Beginning balance | 174,868 | 188,187 | 117,874 |
Changes in gross carrying amount of other receivables [Abstract] | |||
Transfer to 12-month expected credit losses | (16) | (15) | (23) |
Transfer to lifetime expected credit losses | (17) | (30) | (29) |
Transfer to credit-impaired financial assets | 4,308 | 3,515 | 2,601 |
Charge off | 24 | (9,965) | (2,151) |
Disposal | (917) | (1,716) | (1,847) |
Net increase (decrease) | (99,748) | (5,108) | 69,500 |
Changes due to business combination | 0 | 2,262 | |
Ending balance | ₩ 78,502 | ₩ 174,868 | ₩ 188,187 |
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, 2022 KRW (₩) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2022 USD ($) | ||||
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 | ₩ 19,860,573 | ₩ 13,497,234 | $ 15,759,858 | |||
Financial assets at FVTOCI | 33,085,080 | 39,119,789 | 26,253,833 | |||
Derivative assets (designated for hedging) | 37,786 | 106,764 | 29,984 | |||
Total | 52,983,439 | 52,723,787 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||||
Financial liabilities at fair value through profit or loss measured at fair value | 8,952,399 | 4,873,458 | ||||
Derivative liabilities (designated for hedging) | 202,911 | 27,584 | $ 161,015 | |||
Total | ₩ 9,155,310 | ₩ 4,901,042 | ||||
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. | 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. | ||||
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. | 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. | ||||
Description of methods used to develop and substantiate unobservable inputs used in fair value measurement, assets | 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. | 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. | ||||
Description of methods used to develop and substantiate unobservable inputs used in fair value measurement, liabilities | 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. | 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. | ||||
Financial assets | Level 1 | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Total | ₩ 13,118,287 | [1] | ₩ 6,983,529 | [2] | ||
Financial assets | Level 2 | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Total | 35,178,914 | [1] | 42,121,730 | [2] | ||
Financial assets | Level 3 | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Total | 4,686,238 | 3,618,528 | ||||
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 | ₩ 2,840,574 | [1] | ₩ 993,717 | [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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | ₩ 12,890,826 | [1] | ₩ 9,466,444 | [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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 3 | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Financial assets at fair value through profit or loss | ₩ 4,129,173 | ₩ 3,037,073 | ||||
Deposits | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Financial assets at fair value through profit or loss | 34,995 | 65,072 | ||||
Deposits | Level 1 | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Financial assets at fair value through profit or loss | ₩ 34,995 | [1] | ₩ 65,072 | [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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | ₩ 0 | [1] | ₩ 0 | [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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | 4,236,232 | 2,743,239 | ||||
Debt securities | Level 1 | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Financial assets at fair value through profit or loss | ₩ 2,580,563 | [1] | ₩ 817,584 | [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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | ₩ 1,654,591 | [1] | ₩ 1,923,538 | [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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | ₩ 1,078 | ₩ 2,117 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||||
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 debt securities issuers. Fair value is measured by models such as LSMC (Least-Squares Monte Carlo), Hull-white. | 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 debt securities issuers. Fair value is measured by models such as LSMC (Least-Squares Monte Carlo), Hull-white. | ||||
Input variables | Risk-free market rate, credit spread, discount rate originated credit grade, volatility of stock price, volatility of interest rate | Risk-free market rate, credit spread, discount rate originated credit grade, volatility of stock price, volatility of interest rate | ||||
Equity securities | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Financial assets at fair value through profit or loss | ₩ 383,883 | ₩ 329,864 | ||||
Equity securities | Level 1 | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Financial assets at fair value through profit or loss | ₩ 76,007 | [1] | ₩ 25,879 | [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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | ₩ 25 | [1] | ₩ 0 | [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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | ₩ 307,851 | ₩ 303,985 | ||||
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, Imputed Market Value Model 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, Imputed Market Value Model 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, discount rate originated credit grade, stock prices, volatility of underlying asset, net asset value, volatility of stock price, volatility of interest rate, Capital increase amount, Fluctuation rate of real estate sale price, etc | Risk-free market rate, market risk premium, corporate Beta, discount rate originated credit grade, stock prices, volatility of underlying asset, net asset value, volatility of stock price, volatility of interest rate, Capital increase amount, Fluctuation rate of real estate sale price, etc | ||||
Capital contributions | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Financial assets at fair value through profit or loss | ₩ 1,976,474 | ₩ 1,287,723 | ||||
Capital contributions | Level 1 | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Financial assets at fair value through profit or loss | ₩ 0 | [1] | ₩ 0 | [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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | ₩ 0 | [1] | ₩ 0 | [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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | ₩ 1,976,474 | ₩ 1,287,723 | ||||
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, Imputed Market Value Model 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, Imputed Market Value Model 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, discount rate originated credit grade, stock prices, volatility of underlying asset, net asset value, volatility of stock price, volatility of interest rate, Capital increase amount, Fluctuation rate of real estate sale price, etc | Risk-free market rate, market risk premium, corporate Beta, discount rate originated credit grade, stock prices, volatility of underlying asset, net asset value, volatility of stock price, volatility of interest rate, Capital increase amount, Fluctuation rate of real estate sale price, etc | ||||
Beneficiary certificates | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Financial assets at fair value through profit or loss | ₩ 3,902,762 | ₩ 3,504,547 | ||||
Beneficiary certificates | Level 1 | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Financial assets at fair value through profit or loss | ₩ 45,394 | [1] | ₩ 74,271 | [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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | ₩ 2,398,592 | [1] | ₩ 2,326,202 | [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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | Values of underlying assets such as bond | Values of underlying assets such as bond | ||||
Beneficiary certificates | Level 3 | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Financial assets at fair value through profit or loss | ₩ 1,458,776 | ₩ 1,104,074 | ||||
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, Imputed Market Value Model 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, Imputed Market Value Model 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, discount rate originated credit grade, stock prices, volatility of underlying asset, net asset value, volatility of stock price, volatility of interest rate, Capital increase amount, Fluctuation rate of real estate sale price, etc | Risk-free market rate, market risk premium, corporate Beta, discount rate originated credit grade, stock prices, volatility of underlying asset, net asset value, volatility of stock price, volatility of interest rate, Capital increase amount, Fluctuation rate of real estate sale price, etc | ||||
Loans | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Financial assets at fair value through profit or loss | ₩ 899,228 | ₩ 667,467 | ||||
Loans | Level 1 | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Financial assets at fair value through profit or loss | ₩ 0 | [1] | ₩ 0 | [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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | ₩ 794,723 | [1] | ₩ 453,832 | [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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | ₩ 104,505 | ₩ 213,635 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||||
Fair value measurement methods | Fair value is calculated by using Binomial Tree, LSMC and Discounted Cash Flow Model which is a valuation technique commonly used in the market taking into account value of underlying assets, volatility, discount rate. | Fair value is calculated by using Binomial Tree, LSMC and Discounted Cash Flow Model which is a valuation technique commonly used in the market taking into account value of underlying assets, volatility, discount rate. | ||||
Input variables | Value of underlying assets, Volatility, Discount rate | Value of underlying assets, Volatility, Discount rate | ||||
Derivative assets | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Financial assets at fair value through profit or loss | ₩ 8,206,181 | ₩ 4,803,131 | ||||
Derivative assets | Level 1 | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Financial assets at fair value through profit or loss | ₩ 69,316 | [1] | ₩ 10,911 | [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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | ₩ 8,042,895 | [1] | ₩ 4,762,872 | [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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||||
Derivative assets | Level 3 | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Financial assets at fair value through profit or loss | ₩ 93,970 | ₩ 29,348 | ||||
Other financial assets in foreign currency | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Financial assets at fair value through profit or loss | 41,679 | |||||
Other financial assets in foreign currency | Level 1 | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Financial assets at fair value through profit or loss | [1] | ₩ 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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | |||||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | |||||
Other financial assets in foreign currency | Level 2 | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Financial assets at fair value through profit or loss | [1] | ₩ 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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | |||||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | |||||
Other financial assets in foreign currency | Level 3 | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Financial assets at fair value through profit or loss | ₩ 41,679 | |||||
Others | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Financial assets at fair value through profit or loss | 179,139 | 96,191 | ||||
Others | Level 1 | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Financial assets at fair value through profit or loss | ₩ 34,299 | [1] | ₩ 0 | [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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | ₩ 0 | [1] | ₩ 0 | [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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | ₩ 144,840 | ₩ 96,191 | ||||
Financial liabilities at fair value through profit or loss [abstract] | ||||||
Fair value measurement methods | The fair value of the underlying asset, after calculating the fair value using the DCF model, etc., considering the price and volatility of the calculated underlying asset, is calculated using the binomial tree and least-squares Monte Carlo simulation (LSMC), which are commonly used valuation techniques in the market. | The fair value of the underlying asset, after calculating the fair value using the DCF model, etc., considering the price and volatility of the calculated underlying asset, is calculated using the binomial tree and least-squares Monte Carlo simulation (LSMC), which are commonly used valuation techniques in the market. | ||||
Input variables | Stock prices, volatility of underlying assets, etc. | 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 | ₩ 10,277,713 | [1] | ₩ 5,989,812 | [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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | ₩ 22,250,302 | [1] | ₩ 32,548,522 | [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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | ₩ 557,065 | ₩ 581,455 | ||||
Debt securities | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Financial assets at FVTOCI | 32,145,758 | 38,126,977 | ||||
Debt securities | Level 1 | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Financial assets at FVTOCI | ₩ 9,895,456 | [1] | ₩ 5,578,455 | [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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | ₩ 22,250,302 | [1] | ₩ 32,548,522 | [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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||||
Debt securities | Level 3 | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Financial assets at FVTOCI | ₩ 0 | ₩ 0 | ||||
Equity securities | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Financial assets at FVTOCI | 939,322 | 992,812 | ||||
Equity securities | Level 1 | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Financial assets at FVTOCI | ₩ 382,257 | [1] | ₩ 411,357 | [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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||||
Equity securities | Level 2 | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Financial assets at FVTOCI | ₩ 0 | [1] | ₩ 0 | [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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | ₩ 557,065 | ₩ 581,455 | ||||
Derivative assets (Designated for hedging) | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Derivative assets (designated for hedging) | 37,786 | 106,764 | ||||
Derivative assets (Designated for hedging) | Level 1 | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Derivative assets (designated for hedging) | ₩ 0 | [1] | ₩ 0 | [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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||||
Derivative assets (Designated for hedging) | Level 2 | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Derivative assets (designated for hedging) | ₩ 37,786 | [1] | ₩ 106,764 | [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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. | ||||
Derivative assets (Designated for hedging) | Level 3 | ||||||
Fair value of financial instruments measured at fair value [Line Items] | ||||||
Derivative assets (designated for hedging) | ₩ 0 | ₩ 0 | ||||
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] | 58,974 | ||||
Total | ₩ 58,974 | [1] | 286,683 | [2] | ||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | |||||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | |||||
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] | ₩ 8,883,976 | ||||
Total | ₩ 9,086,887 | [1] | 4,609,718 | [2] | ||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, assets | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | |||||
Description of reasons for transfers out of Level 2 into Level 1 of fair value hierarchy, assets | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | |||||
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 | ₩ 9,449 | |||||
Total | ₩ 9,449 | 4,641 | ||||
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 | [2] | ₩ 286,683 | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | [2] | ₩ 4,582,134 | ||||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | ₩ 4,641 | |||||
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 | ₩ 35,161 | 65,016 | ||||
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 | ₩ 35,161 | [1] | ₩ 65,016 | [2] | ||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | ₩ 0 | [1] | ₩ 0 | [2] | ||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | 8,905,125 | 4,567,268 | ||||
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 | ₩ 11,700 | [1] | ₩ 10,259 | [2] | ||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | ₩ 8,883,976 | [1] | ₩ 4,552,368 | [2] | ||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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, volatility, risk-free market rate, forward rate, etc. | Discount rate, values of underlying assets such as foreign exchange rate and stock prices, volatility, 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 | ₩ 9,449 | ₩ 4,641 | ||||
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, volatility, etc. | Discount rate, values of underlying assets such as foreign exchange rate and stock prices, volatility, etc. | ||||
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 | ₩ 12,113 | ₩ 241,174 | ||||
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 | ₩ 12,113 | [1] | ₩ 211,408 | [2] | ||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | ₩ 0 | [1] | ₩ 29,766 | [2] | ||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 | ||||
Derivative financial liabilities held for hedging [Member] | ||||||
Financial liabilities at fair value through profit or loss [abstract] | ||||||
Derivative liabilities (designated for hedging) | 202,911 | 27,584 | ||||
Derivative financial liabilities held for hedging [Member] | Level 1 | ||||||
Financial liabilities at fair value through profit or loss [abstract] | ||||||
Derivative liabilities (designated for hedging) | ₩ 0 | [1] | ₩ 0 | [2] | ||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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) | ₩ 202,911 | [1] | ₩ 27,584 | [2] | ||
Description of reasons for transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities | Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 million Won. The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed. A change in the judgement of the active market where the financial product was traded resulted the transfer between levels. | There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured 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 3 | ||||||
Financial liabilities at fair value through profit or loss [abstract] | ||||||
Derivative liabilities (designated for hedging) | ₩ 0 | ₩ 0 | ||||
[1]Among financial assets and financial liabilities measured at fair value, the amount transferred from Level 2 to Level 1 is 2,835,187 |
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, 2022 | |
Loans, bond with options, convertible bonds | Binomial Tree | Stock Price Measurement Input [Member] | |
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 and stock price increases. |
Loans, bond with options, convertible bonds | Binomial Tree | Stock Price Measurement Input [Member] | Top of range [Member] | |
Disclosure of significant unobservable inputs used in fair value measurement of financial instruments [Line Items] | |
Significant unobservable input, assets | 46.53 |
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 | 1.98 |
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 | 2.18 |
Equity related derivative assets | 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 decreases as discount rate increases. |
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. |
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 | 0.21 |
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 | 0.67 |
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. |
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 | 0.21 |
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 | 0.67 |
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. |
Equity 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 | 11.74 |
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 | 97.16 |
Equity securities, capital contributions, and beneficiary certificates | 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 and stock price increases. |
Equity securities, capital contributions, and beneficiary certificates | 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, liabilities | 28.4 |
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. |
Equity securities, capital contributions, and beneficiary certificates | DCF model and others | Terminal growth 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 |
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 |
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. |
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 |
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 | 19.14 |
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 | Fair value increases as liquidation value 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 |
Others | 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 and stock price increases. |
Others | 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, liabilities | 20.15 |
Others | 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, liabilities | 36.19 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | ₩ 3,623,168 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Ending balance | 4,695,688 | ₩ 3,623,168 | |||||
Gains losses from financial assets and liabilities classified as level3 that the group holds as at the end of the year | 2,770 | ₩ 2,634 | ₩ 37,430 | ||||
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 other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | ₩ 0 | ₩ 0 | |||||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | 0 | ₩ 0 | |||||
Financial instruments measured at fair value level 3 of fair value hierarchy except for sensitivity analysis | ₩ 3,196,703 | ₩ 3,030,775 | |||||
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 equity capital required for market 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 | ₩ 3,618,528 | ₩ 4,111,113 | |||||
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 | ||||||
Net Income(loss) | 199,758 | [1] | 119,487 | [2] | 41,051 | [3] | |
Other comprehensive income | 2,084 | 11,362 | (4,920) | ||||
Purchases/issuances | 1,709,301 | 1,478,167 | 1,684,153 | ||||
Disposals/settlements | (843,401) | (2,096,296) | (975,385) | ||||
Transfer to or out of level 3 | [4] | (32) | (5,305) | (10,000) | |||
Ending balance | 4,686,238 | 3,618,528 | 4,111,113 | ||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | 16,400 | 10,937 | 11,638 | ||||
Unfavorable changes in unobservable inputs in net income(loss) | (13,799) | (9,252) | (10,620) | ||||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | 24,370 | 30,391 | 21,587 | ||||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | (17,579) | (23,865) | (16,740) | ||||
Financial assets at FVTPL | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | 3,037,073 | 3,540,398 | |||||
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 | ||||||
Net Income(loss) | 199,758 | [1] | 119,487 | [2] | 41,051 | [3] | |
Other comprehensive income | 0 | 0 | 0 | ||||
Purchases/issuances | 1,706,944 | 1,477,522 | 1,601,926 | ||||
Disposals/settlements | (814,570) | (2,095,029) | (972,903) | ||||
Transfer to or out of level 3 | [4] | (32) | (5,305) | (12,192) | |||
Ending balance | 4,129,173 | 3,037,073 | 3,540,398 | ||||
Debt securities | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | 2,117 | 4,618 | |||||
Beginning balance | 5,826 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Business combination | 0 | ||||||
Net Income(loss) | (40) | [1] | (431) | [2] | (632) | [3] | |
Other comprehensive income | 0 | 0 | 0 | ||||
Purchases/issuances | 0 | 1,000 | 2,627 | ||||
Disposals/settlements | (999) | (4,070) | (3,203) | ||||
Transfer to or out of level 3 | [4] | 0 | 1,000 | 0 | |||
Ending balance | 1,078 | 2,117 | 4,618 | ||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | 1 | 13 | 13 | ||||
Unfavorable changes in unobservable inputs in net income(loss) | 0 | (12) | (10) | ||||
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 | 303,985 | 450,371 | |||||
Beginning balance | 464,741 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Business combination | 3,894 | ||||||
Net Income(loss) | 697 | [1] | (24,501) | [2] | (8,977) | [3] | |
Other comprehensive income | 0 | 0 | 0 | ||||
Purchases/issuances | 20,175 | 33,570 | 5,088 | ||||
Disposals/settlements | (16,974) | (154,455) | (14,407) | ||||
Transfer to or out of level 3 | [4] | (32) | (1,000) | 32 | |||
Ending balance | 307,851 | 303,985 | 450,371 | ||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | 10,146 | 6,348 | 8,539 | ||||
Unfavorable changes in unobservable inputs in net income(loss) | (8,079) | (5,331) | (7,337) | ||||
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 | ||||
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 (-0.5%~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%.. | ||||
Capital contributions | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | ₩ 1,287,723 | ₩ 865,685 | |||||
Beginning balance | ₩ 515,199 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Business combination | 173,244 | ||||||
Net Income(loss) | 103,376 | [1] | 82,596 | [2] | 39,500 | [3] | |
Other comprehensive income | 0 | 0 | 0 | ||||
Purchases/issuances | 703,160 | 575,643 | 194,396 | ||||
Disposals/settlements | (117,785) | (236,201) | (56,654) | ||||
Transfer to or out of level 3 | [4] | 0 | 0 | 0 | |||
Ending balance | 1,976,474 | 1,287,723 | 865,685 | ||||
Beneficiary certificates | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | 1,104,074 | 1,917,811 | |||||
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 | ||||||
Net Income(loss) | (2,922) | [1] | 10,347 | [2] | (7,919) | [3] | |
Other comprehensive income | 0 | 0 | 0 | ||||
Purchases/issuances | 98,420 | 86,224 | 715,437 | ||||
Disposals/settlements | 259,204 | (910,308) | (231,908) | ||||
Transfer to or out of level 3 | [4] | 0 | 0 | 0 | |||
Ending balance | 1,458,776 | 1,104,074 | 1,917,811 | ||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | 737 | 1,305 | 1,403 | ||||
Unfavorable changes in unobservable inputs in net income(loss) | (737) | (1,171) | (1,537) | ||||
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 | ||||
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 | ₩ 213,635 | ₩ 209,062 | |||||
Beginning balance | ₩ 152,629 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Business combination | 35,854 | ||||||
Net Income(loss) | 17,544 | [1] | 16,975 | [2] | 6,149 | [3] | |
Other comprehensive income | 0 | 0 | 0 | ||||
Purchases/issuances | 802,092 | 761,045 | 656,880 | ||||
Disposals/settlements | (928,766) | (773,447) | (642,450) | ||||
Transfer to or out of level 3 | [4] | 0 | 0 | 0 | |||
Ending balance | 104,505 | 213,635 | 209,062 | ||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | 203 | 682 | 933 | ||||
Unfavorable changes in unobservable inputs in net income(loss) | (200) | (671) | (932) | ||||
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 | ||||
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. | |||||
Derivative assets | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | ₩ 29,348 | 7,872 | |||||
Beginning balance | ₩ 25,048 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Business combination | 0 | ||||||
Net Income(loss) | 64,359 | [1] | 22,256 | [2] | 9,458 | [3] | |
Other comprehensive income | 0 | 0 | 0 | ||||
Purchases/issuances | 582 | 5,058 | 9,501 | ||||
Disposals/settlements | (319) | 0 | (23,911) | ||||
Transfer to or out of level 3 | [4] | 0 | (5,838) | (12,224) | |||
Ending balance | 93,970 | 29,348 | 7,872 | ||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | 2,453 | 1,668 | 110 | ||||
Unfavorable changes in unobservable inputs in net income(loss) | (1,993) | (1,191) | (257) | ||||
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 | ||||
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 | ₩ 96,191 | ₩ 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) | 16,744 | [1] | 12,245 | [2] | 3,472 | [3] | |
Other comprehensive income | 0 | 0 | |||||
Purchases/issuances | 40,836 | 14,982 | 17,997 | ||||
Disposals/settlements | (8,931) | (16,548) | (370) | ||||
Transfer to or out of level 3 | [4] | 0 | 533 | 0 | |||
Ending balance | 144,840 | 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) | 2,860 | 921 | 640 | ||||
Unfavorable changes in unobservable inputs in net income(loss) | (2,790) | (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) | 0 | 0 | 0 | ||||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | ₩ 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. | ||||
Other foreign currency financial assets | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | ₩ 0 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Net Income(loss) | [1] | 0 | |||||
Purchases/issuances | 41,679 | ||||||
Disposals/settlements | 0 | ||||||
Transfer to or out of level 3 | [4] | 0 | |||||
Ending balance | 41,679 | ₩ 0 | |||||
Equity securities | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | 581,455 | 570,715 | |||||
Beginning balance | ₩ 493,698 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Business combination | 0 | ||||||
Net Income(loss) | 0 | [1] | 0 | [2] | 0 | [3] | |
Other comprehensive income | 2,084 | 11,362 | (4,920) | ||||
Purchases/issuances | 2,357 | 645 | 82,227 | ||||
Disposals/settlements | (28,831) | (1,267) | (2,482) | ||||
Transfer to or out of level 3 | [4] | 0 | 0 | 2,192 | |||
Ending balance | 557,065 | 581,455 | 570,715 | ||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | 0 | 0 | 0 | ||||
Unfavorable changes in unobservable inputs in net income(loss) | 0 | 0 | 0 | ||||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | 24,370 | 30,391 | 21,587 | ||||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | (17,579) | (23,865) | ₩ (16,740) | ||||
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 (0~1%) 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%. | ||||||
Financial liabilities | |||||||
Reconciliation of changes in level3 of fair value hierarchy [Abstract] | |||||||
Beginning balance | 4,641 | 39,766 | |||||
Beginning balance | ₩ 159,986 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Business combination | 0 | ||||||
Net Income(loss) | 8,058 | [1] | 4,824 | [2] | 30,815 | [3] | |
Other comprehensive income | 0 | 0 | 0 | ||||
Purchases/issuances | (351) | (3,979) | 2,650 | ||||
Disposals/settlements | (2,899) | (29,716) | (135,152) | ||||
Transfer to or out of level 3 | [4] | 0 | (6,254) | (18,533) | |||
Ending balance | 9,449 | 4,641 | 39,766 | ||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | 41 | 205 | 833 | ||||
Unfavorable changes in unobservable inputs in net income(loss) | (39) | (264) | (450) | ||||
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 | 4,641 | 20,136 | |||||
Beginning balance | 72,039 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Business combination | 0 | ||||||
Net Income(loss) | 8,058 | [1] | 4,926 | [2] | 30,150 | [3] | |
Other comprehensive income | 0 | 0 | 0 | ||||
Purchases/issuances | (351) | (3,979) | 2,650 | ||||
Disposals/settlements | (2,899) | (10,188) | (66,170) | ||||
Transfer to or out of level 3 | [4] | 0 | (6,254) | (18,533) | |||
Ending balance | 9,449 | 4,641 | 20,136 | ||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | 41 | 205 | 776 | ||||
Unfavorable changes in unobservable inputs in net income(loss) | (39) | (264) | ₩ (405) | ||||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | 0 | 0 | |||||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | 0 | ₩ 0 | |||||
Description of methods and assumptions used in preparing sensitivity analysis | 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 | ₩ 0 | ₩ 19,630 | |||||
Beginning balance | ₩ 87,626 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Business combination | 0 | ||||||
Net Income(loss) | (102) | [2] | 665 | [3] | |||
Other comprehensive income | 0 | 0 | |||||
Purchases/issuances | 0 | 0 | |||||
Disposals/settlements | (19,528) | (68,661) | |||||
Transfer to or out of level 3 | [4] | 0 | 0 | ||||
Ending balance | ₩ 0 | 19,630 | |||||
Changes in unobservable inputs financial assets liabilities recognition in profit or loss [Abstract] | |||||||
Favorable changes in unobservable inputs in net income(loss) | 57 | ||||||
Unfavorable changes in unobservable inputs in net income(loss) | (45) | ||||||
Changes in unobservable inputs financial assets liabilities recognition in other comprehensive income [Abstract] | |||||||
Favorable changes in unobservable inputs in other comprehensive income(loss) | 0 | ||||||
Unfavorable changes in unobservable inputs in other comprehensive income(loss) | ₩ 0 | ||||||
Description of methods and assumptions used in preparing sensitivity analysis | 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 | ||||||
Beginning balance | ₩ 321 | ||||||
Changes in financial assets liabilities measured at fair value level3 of the fair value hierarchy [Abstract] | |||||||
Business combination | 0 | ||||||
Net Income(loss) | [3] | 0 | |||||
Other comprehensive income | 0 | ||||||
Purchases/issuances | 0 | ||||||
Disposals/settlements | (321) | ||||||
Transfer to or out of level 3 | [4] | 0 | |||||
Ending balance | ₩ 0 | ||||||
[1]For financial liabilities, positive numbers represent losses that increase balance and negative numbers represent gains that decrease balance. The gain amounting to 2,770 million Won for the year ended December 31, 2022, which is from financial assets and liabilities that the Group holds as at the end of the year.[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]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. |
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, 2022 KRW (₩) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2022 USD ($) | |||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | |||||
Securities at amortized cost | ₩ 27,275,818 | ₩ 17,043,520 | |||
Loans and other financial assets at amortized cost | 352,191,268 | 346,871,248 | |||
Deposits due to customers | 343,931,576 | 318,070,829 | |||
Borrowings | 28,198,303 | 24,663,825 | |||
Debentures | 42,918,411 | 44,500,963 | |||
Other financial liabilities | 21,780,873 | 23,596,463 | |||
Carrying value of financial assets liabilities measured at amortised cost [Abstract] | |||||
Securities at amortized cost | 28,268,516 | 17,086,274 | $ 22,431,770 | ||
Loans and other financial assets at amortized cost | 355,760,729 | [1] | 348,885,617 | [1] | 282,304,975 |
Deposits due to customers | 342,105,209 | 317,899,871 | 271,468,980 | ||
Borrowings | 28,429,603 | 24,755,459 | 22,559,596 | ||
Debentures | 44,198,486 | 44,653,864 | $ 35,072,597 | ||
Other financial liabilities | ₩ 22,492,705 | ₩ 23,890,017 | |||
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 | ₩ 2,652,449 | ₩ 2,122,401 | |||
Securities at amortized cost | Level 2 | |||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | |||||
Securities at amortized cost | 24,623,369 | 14,921,119 | |||
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 | 6,238,724 | 3 | |||
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 | ₩ 345,952,544 | ₩ 346,871,245 | |||
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 | 343,931,576 | 318,070,829 | |||
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 | 26,063,256 | 23,393,520 | |||
Borrowings | Level 3 | |||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | |||||
Borrowings | ₩ 2,135,047 | ₩ 1,270,305 | |||
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 | 42,918,411 | 44,500,963 | |||
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 | 21,244,664 | 23,216,929 | |||
Other financial liabilities | Level 3 | |||||
Fair value of financial assets liabilities measured at amortised cost [Abstract] | |||||
Other financial liabilities | ₩ 536,209 | ₩ 379,534 | |||
[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, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) |
Disclosure of financial assets [line items] | |||
Financial assets at fair value through profit or loss | ₩ 19,860,573 | $ 15,759,858 | ₩ 13,497,234 |
Financial assets at FVTOCI | 33,085,080 | 26,253,833 | 39,119,789 |
Financial assets at amortised cost | 384,029,245 | 365,971,891 | |
Derivative assets (Designated for hedging) | 37,786 | $ 29,984 | 106,764 |
Total | 437,012,684 | 418,695,678 | |
Deposits | |||
Disclosure of financial assets [line items] | |||
Financial assets at fair value through profit or loss | 34,995 | 65,072 | |
Financial assets at FVTOCI | 0 | 0 | |
Financial assets at amortised cost | 2,994,672 | 2,866,884 | |
Derivative assets (Designated for hedging) | 0 | 0 | |
Total | 3,029,667 | 2,931,956 | |
Securities | |||
Disclosure of financial assets [line items] | |||
Financial assets at fair value through profit or loss | 10,676,985 | 7,960,046 | |
Financial assets at FVTOCI | 33,085,080 | 39,119,789 | |
Financial assets at amortised cost | 28,268,516 | 17,086,274 | |
Derivative assets (Designated for hedging) | 0 | 0 | |
Total | 72,030,581 | 64,166,109 | |
Loans | |||
Disclosure of financial assets [line items] | |||
Financial assets at fair value through profit or loss | 899,228 | 667,467 | |
Financial assets at FVTOCI | 0 | 0 | |
Financial assets at amortised cost | 343,918,560 | 336,799,510 | |
Derivative assets (Designated for hedging) | 0 | 0 | |
Total | 344,817,788 | 337,466,977 | |
Derivative assets | |||
Disclosure of financial assets [line items] | |||
Financial assets at fair value through profit or loss | 8,206,181 | 4,803,131 | |
Financial assets at FVTOCI | 0 | 0 | |
Financial assets at amortised cost | 0 | 0 | |
Derivative assets (Designated for hedging) | 37,786 | 106,764 | |
Total | 8,243,967 | 4,909,895 | |
Other financial assets | |||
Disclosure of financial assets [line items] | |||
Financial assets at fair value through profit or loss | 43,184 | 1,518 | |
Financial assets at FVTOCI | 0 | 0 | |
Financial assets at amortised cost | 8,847,497 | 9,219,223 | |
Derivative assets (Designated for hedging) | 0 | 0 | |
Total | ₩ 8,890,681 | ₩ 9,220,741 |
Fair value of financial asset_8
Fair value of financial assets and liabilities - Financial liabilities by category (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) |
Disclosure of financial liabilities [line items] | |||
Financial liabilities at FVTPL | ₩ 8,952,399 | ₩ 4,873,458 | |
Financial liabilities at amortised cost | 437,226,005 | 411,199,211 | |
Derivative liabilities (designated for hedging) | 202,911 | $ 161,015 | 27,584 |
Total | 446,381,315 | 416,100,253 | |
Deposits due to customers | |||
Disclosure of financial liabilities [line items] | |||
Financial liabilities at FVTPL | 35,161 | 65,016 | |
Financial liabilities at amortised cost | 342,105,209 | 317,899,871 | |
Derivative liabilities (designated for hedging) | 0 | 0 | |
Total | 342,140,370 | 317,964,887 | |
Borrowings | |||
Disclosure of financial liabilities [line items] | |||
Financial liabilities at FVTPL | 12,113 | 241,174 | |
Financial liabilities at amortised cost | 28,429,603 | 24,755,459 | |
Derivative liabilities (designated for hedging) | 0 | 0 | |
Total | 28,441,716 | 24,996,633 | |
Debentures | |||
Disclosure of financial liabilities [line items] | |||
Financial liabilities at FVTPL | 0 | 0 | |
Financial liabilities at amortised cost | 44,198,486 | 44,653,864 | |
Derivative liabilities (designated for hedging) | 0 | 0 | |
Total | 44,198,486 | 44,653,864 | |
Derivative Liabilities | |||
Disclosure of financial liabilities [line items] | |||
Financial liabilities at FVTPL | 8,905,125 | 4,567,268 | |
Financial liabilities at amortised cost | 0 | 0 | |
Derivative liabilities (designated for hedging) | 202,911 | 27,584 | |
Total | 9,108,036 | 4,594,852 | |
Other financial liabilities | |||
Disclosure of financial liabilities [line items] | |||
Financial liabilities at FVTPL | 0 | 0 | |
Financial liabilities at amortised cost | 22,492,707 | 23,890,017 | |
Derivative liabilities (designated for hedging) | 0 | 0 | |
Total | ₩ 22,492,707 | ₩ 23,890,017 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Gains Losses On Financial Instruments [Line Items] | |||
Financial assets at FVTPL | ₩ 481,202 | ₩ 656,081 | ₩ 590,479 |
Financial assets at FVTOCI | 637,396 | 435,400 | 478,832 |
Securities at amortized cost | 512,095 | 324,256 | 383,922 |
Loans and other financial assets at amortized cost | 13,193,428 | 9,191,868 | 8,283,791 |
Financial liabilities at amortized cost | (5,948,183) | (2,899,387) | (3,516,023) |
Net derivatives (Designated for hedging) | 78,822 | 72,493 | (74,213) |
Total | 8,954,760 | 7,780,711 | 6,146,788 |
Interest Income(expense) | |||
Gains Losses On Financial Instruments [Line Items] | |||
Financial assets at FVTPL | 106,698 | 45,803 | 48,612 |
Financial assets at FVTOCI | 632,615 | 381,814 | 437,527 |
Securities at amortized cost | 515,246 | 324,920 | 382,988 |
Loans and other financial assets at amortized cost | 13,399,990 | 9,142,212 | 8,654,726 |
Financial liabilities at amortized cost | (5,950,277) | (2,901,592) | (3,516,023) |
Net derivatives (Designated for hedging) | 0 | 0 | 0 |
Total | 8,704,272 | 6,993,157 | 6,007,830 |
Fees and Commissions Income(expense) | |||
Gains Losses On Financial Instruments [Line Items] | |||
Financial assets at FVTPL | (134) | (156) | 0 |
Financial assets at FVTOCI | 1,606 | 1,343 | 311 |
Securities at amortized cost | 0 | 0 | 0 |
Loans and other financial assets at amortized cost | 600,902 | 494,296 | 376,872 |
Financial liabilities at amortized cost | 2,094 | 2,205 | 0 |
Net derivatives (Designated for hedging) | 0 | 0 | 0 |
Total | 604,468 | 497,688 | 377,183 |
Reversal (provision) of credit loss | |||
Gains Losses On Financial Instruments [Line Items] | |||
Financial assets at FVTPL | 0 | 0 | 0 |
Financial assets at FVTOCI | 827 | (4,909) | (1,529) |
Securities at amortized cost | (3,151) | (664) | 934 |
Loans and other financial assets at amortized cost | (881,668) | (551,957) | (792,250) |
Financial liabilities at amortized cost | 0 | 0 | 0 |
Net derivatives (Designated for hedging) | 0 | 0 | 0 |
Total | (883,992) | (557,530) | (792,845) |
Gain or loss on transaction and valuation | |||
Gains Losses On Financial Instruments [Line Items] | |||
Financial assets at FVTPL | 238,502 | 325,751 | 421,709 |
Financial assets at FVTOCI | (21,498) | 32,624 | 24,138 |
Securities at amortized cost | 0 | 0 | 0 |
Loans and other financial assets at amortized cost | 74,204 | 107,317 | 44,443 |
Financial liabilities at amortized cost | 0 | 0 | 0 |
Net derivatives (Designated for hedging) | 78,822 | 72,493 | (74,213) |
Total | 370,030 | 538,185 | 416,077 |
Others | |||
Gains Losses On Financial Instruments [Line Items] | |||
Financial assets at FVTPL | 136,136 | 284,683 | 120,158 |
Financial assets at FVTOCI | 23,846 | 24,528 | 18,385 |
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 | ₩ 159,982 | ₩ 309,211 | ₩ 138,543 |
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, 2022 | Dec. 31, 2021 | ||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Book value of assets transferred | ₩ 1,969,075 | ₩ 414,069 | |
Financial assets at FVTPL | |||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Book value of assets transferred | 214,577 | 248,009 | |
Financial assets at FVTOCI | |||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Book value of assets transferred | 583,198 | 127,065 | |
Securities at amortized cost | |||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Book value of assets transferred | 1,171,300 | 38,995 | |
Bonds sold under repurchase agreements | |||
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | |||
Book value of Related liabilities | ₩ 1,898,744 | ₩ 749,976 | |
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 | ₩ 98,027 | ₩ 98,535 | |
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] | 49,808 | 151,930 |
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] | 4,640,182 | 4,682,882 |
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] | 231,800 | 2,424,080 |
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] | ₩ 1,209,364 | ₩ 978,274 |
[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, 2022 | Dec. 31, 2021 |
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 | ₩ 58,122,485 | ₩ 62,779,037 |
Gross amounts of recognized financial assets set off | 39,209,452 | 42,275,583 |
Net amounts of consolidate financial assets presented | 18,913,033 | 20,503,454 |
Related amounts not set off in the consolidated statement of financial position | ||
Netting agreements and others | 15,969,354 | 18,593,642 |
Cash collateral received and others | 748,981 | 552,071 |
Net amounts | 2,194,698 | 1,357,741 |
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 | 7,032,465 | 4,172,737 |
Gross amounts of recognized financial assets set off | 0 | 0 |
Net amounts of consolidate financial assets presented | 7,032,465 | 4,172,737 |
Receivable spot exchange | ||
Net financial assets subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position [abstract] | ||
Gross amounts of recognized financial assets | 4,508,711 | 5,915,304 |
Gross amounts of recognized financial assets set off | 0 | 0 |
Net amounts of consolidate financial assets presented | 4,508,711 | 5,915,304 |
Derivative assets and Receivable spot exchange | ||
Related amounts not set off in the consolidated statement of financial position | ||
Netting agreements and others | 9,175,416 | 8,260,784 |
Cash collateral received and others | 748,981 | 552,071 |
Net amounts | 1,616,779 | 1,275,186 |
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 | 6,793,938 | 10,332,858 |
Gross amounts of recognized financial assets set off | 0 | 0 |
Net amounts of consolidate financial assets presented | 6,793,938 | 10,332,858 |
Related amounts not set off in the consolidated statement of financial position | ||
Netting agreements and others | 6,793,938 | 10,332,858 |
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 | 39,787,371 | 42,358,138 |
Gross amounts of recognized financial assets set off | 39,209,452 | 42,275,583 |
Net amounts of consolidate financial assets presented | 577,919 | 82,555 |
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 | ₩ 577,919 | ₩ 82,555 |
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, 2022 | Dec. 31, 2021 | |
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 | ₩ 58,315,472 | ₩ 59,357,095 |
Gross amounts of recognized financial liabilities set off | 39,209,452 | 42,275,583 |
Net amounts of consolidate financial liabilities presented | 19,106,020 | 17,081,512 |
Related amounts not set off in the consolidated statement of financial position | ||
Netting agreements and others | 14,860,198 | 12,906,719 |
Cash collateral pledged and others | 145,268 | 114,716 |
Net amounts | 4,100,554 | 4,060,077 |
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 | 7,652,440 | 3,708,263 |
Gross amounts of recognized financial liabilities set off | 0 | 0 |
Net amounts of consolidate financial liabilities presented | ₩ 7,652,440 | ₩ 3,708,263 |
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. |
Equity-linked securities in short position | ||
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 | ₩ 4,508,615 | ₩ 5,916,800 |
Gross amounts of recognized financial liabilities set off | 0 | 0 |
Net amounts of consolidate financial liabilities presented | ₩ 4,508,615 | ₩ 5,916,800 |
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 and Payable spot exchange | ||
Related amounts not set off in the consolidated statement of financial position | ||
Netting agreements and others | ₩ 10,043,092 | ₩ 8,755,492 |
Cash collateral pledged and others | 145,268 | 114,716 |
Net amounts | 1,972,695 | 754,855 |
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 | 2,313,044 | 749,976 |
Gross amounts of recognized financial liabilities set off | 0 | 0 |
Net amounts of consolidate financial liabilities presented | 2,313,044 | 749,976 |
Related amounts not set off in the consolidated statement of financial position | ||
Netting agreements and others | 2,313,044 | 749,976 |
Cash collateral pledged and others | 0 | 0 |
Net amounts | ₩ 0 | ₩ 0 |
Description of rights of setoff associated with financial liabilities subject to enforceable master netting arrangement or similar agreement | The Group 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. | 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. |
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 | ₩ 43,841,373 | ₩ 48,982,056 |
Gross amounts of recognized financial liabilities set off | 39,209,452 | 42,275,583 |
Net amounts of consolidate financial liabilities presented | 4,631,921 | 6,706,473 |
Related amounts not set off in the consolidated statement of financial position | ||
Netting agreements and others | 2,504,062 | 3,401,251 |
Cash collateral pledged and others | 0 | 0 |
Net amounts | ₩ 2,127,859 | ₩ 3,305,222 |
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 has been offset with a part of unpaid domestic exchange payables, and they have 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 has been offset with a part of unpaid domestic exchange payables, and they have 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 | |
Disclosure of investments in associates and joint ventures [Line Items] | |||
Description of whether investment in associate is measured using equity method or at fair value | Woori G Oncorp Corporate support of Major Industry General Type Private Placement Investment Trust (Type 2) and other 13 joint ventures and associates can exercise significant influence but was classified as an item measured at fair value through profit or loss. | ||
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% | 20% | 20% |
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
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% | 15% | 15% |
Location | Korea | Korea | |
Financial statements as of | 2022.11.30 | ||
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 the reporting period 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, 2022 and 2021. | Most of the significant business transactions of associates are with the Group as of December 31, 2022 and 2021. | |
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 | 2022.12.31 | ||
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 | |
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2022 and 2021. | There is no investment balance as of December 31, 2022 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% | ||
Location | Korea | Korea | |
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2022 and 2021. | There is no investment balance as of December 31, 2022 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% | ||
Location | Korea | Korea | |
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2022 and 2021. | There is no investment balance as of December 31, 2022 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 | |
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2022 and 2021. | There is no investment balance as of December 31, 2022 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 | 2022.12.31 | ||
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% | 29% | |
Location | Korea | Korea | |
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2022 and 2021. | There is no investment balance as of December 31, 2022 and 2021. | |
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 | 2022.11.30 | ||
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 the reporting period 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, 2022 and 2021. | Most of the significant business transactions of associates are with the Group as of December 31, 2022 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 | |
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2022 and 2021. | There is no investment balance as of December 31, 2022 and 2021. | |
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% | 100% | |
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
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% | 20% | 20% |
Location | Korea | Korea | |
Financial statements as of | 2022.9.30 | ||
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 the reporting period 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 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% | 25% | 25% |
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
Description of reasons why presumption that interest of less than twenty per cent in associate is overcome | It was dissoluted and will be liquidated. | It was dissoluted and will be liquidated. | |
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% | 12.60% | 26.20% |
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
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. | |
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 | 2022.12.31 | ||
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% | 25% | 25% |
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
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% | 29.70% |
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
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% | 20% | 20% |
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
Dicustody Co., Ltd | |||
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% | 1% | |
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
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. | |
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 | |
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2022 and 2021. | There is no investment balance as of December 31, 2022 and 2021. | |
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 | |
Description of reasons why presumption that interest of less than twenty per cent in associate is overcome | It was excluded due to liquidation. | It was excluded due to liquidation. | |
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 | 2022.12.31 | ||
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 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% | 25% | 25% |
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
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 Short-term Bond Securities Investment Trust (Bond) ClassC-F | |||
Disclosure of investments in associates and joint ventures [Line Items] | |||
Investor | Woori Bank | Woori Bank | |
Main business | Collective investment business | Collective investment business | |
Percentage of ownership | 27.90% | 14.50% | |
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
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 MultiReturn Securities Investment Trust 3 (Balanced Bond) | |||
Disclosure of investments in associates and joint ventures [Line Items] | |||
Investor | Woori Bank | Woori Bank | |
Main business | Collective investment business | Collective investment business | |
Percentage of ownership | 20% | ||
Location | Korea | Korea | |
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 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% | 25.60% |
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
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% | 20% | |
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
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 | 2022.12.31 | ||
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% | 11.90% | |
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
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. | |
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% | 20.40% | |
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
Woori FirstValue Private Real Estate Fund No.2 | |||
Disclosure of investments in associates and joint ventures [Line Items] | |||
Investor | Woori Investment Bank Co., Ltd | Woori Investment Bank Co., Ltd | |
Main business | Real estate business | Real estate business | |
Percentage of ownership | 12% | 12% | |
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
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 | |||
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 | 0.10% | 0.30% | |
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
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 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 | 17.90% | ||
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
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% | |
Location | Korea | Korea | |
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% | 0.50% | |
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
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. | |
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 | 2022.10.31 | ||
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 the reporting period 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 | 64% | 63.90% | |
Location | Japan | Japan | |
Financial statements as of | 2022.9.30 | ||
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 the reporting period 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 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 | 64% | 63.80% | |
Location | Japan | Japan | |
Financial statements as of | 2022.9.30 | ||
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 the reporting period 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. | ||
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 | |
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. | |
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2022 and 2021. | There is no investment balance as of December 31, 2022 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 | 29.80% | 29.70% | |
Location | Korea | Korea | |
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. | |
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2022 and 2021. | There is no investment balance as of December 31, 2022 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 | |
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. | |
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2022 and 2021. | There is no investment balance as of December 31, 2022 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% | ||
Location | Korea | Korea | |
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. | |
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2022 and 2021. | There is no investment balance as of December 31, 2022 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 | |
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. | |
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2022 and 2021. | There is no investment balance as of December 31, 2022 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 | |
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. | |
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2022 and 2021. | There is no investment balance as of December 31, 2022 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% | ||
Location | Korea | Korea | |
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. | |
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2022 and 2021. | There is no investment balance as of December 31, 2022 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 | |
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. | |
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2022 and 2021. | There is no investment balance as of December 31, 2022 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% | 24.50% | |
Location | Korea | Korea | |
Financial statements as of | 2022.9.30 | ||
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 the reporting period 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 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. | |
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2022 and 2021. | There is no investment balance as of December 31, 2022 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 | |
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. | |
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2022 and 2021. | There is no investment balance as of December 31, 2022 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 | |
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. | |
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2022 and 2021. | There is no investment balance as of December 31, 2022 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 | |
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. | |
Description of nature of entity's relationship with associate | There is no investment balance as of December 31, 2022 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% | 20.10% | |
Location | Korea | Korea | |
Financial statements as of | 2022.09.30 | ||
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 the reporting period 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 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. | |
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% | 21.30% | |
Location | Korea | Korea | |
Financial statements as of | 2022.09.30 | ||
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 the reporting period 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 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. | |
JC Assurance No.2 Private Equity Fund [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 | 23.50% | 24.40% | 29.30% |
Location | Korea | Korea | |
Financial statements as of | 2022.09.30 | ||
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 the reporting period 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 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 | 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 | 2022.12.31 | ||
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 | 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 | 2022.12.31 | ||
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 | 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 | 2022.12.31 | ||
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% | 29% | |
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
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% | 29.90% | |
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
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. | |
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% | 28.50% | |
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
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. | |
PCC-Woori LP Secondary Fund | |||
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 | 2022.12.31 | ||
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% | ||
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-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 | 35.60% | 38.10% | |
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
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% | 35% | |
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
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. | |
IGEN2022No. 1 Private Equity Fund | |||
Disclosure of investments in associates and joint ventures [Line Items] | |||
Main business | Other financial services | Other financial services | |
Percentage of ownership | 24.80% | ||
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
Synaptic Green No.1 PEF | |||
Disclosure of investments in associates and joint ventures [Line Items] | |||
Main business | Other financial services | Other financial services | |
Percentage of ownership | 21.10% | ||
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
Orchestra Private Equity Fund IV | |||
Disclosure of investments in associates and joint ventures [Line Items] | |||
Main business | Other financial services | Other financial services | |
Percentage of ownership | 28.20% | ||
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
Australia Green Energy 1st PEF | |||
Disclosure of investments in associates and joint ventures [Line Items] | |||
Main business | Other financial services | Other financial services | |
Percentage of ownership | 4% | ||
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
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. | |
Woori Dyno 1st Private Equity Fund | |||
Disclosure of investments in associates and joint ventures [Line Items] | |||
Main business | Other financial services | Other financial services | |
Percentage of ownership | 19.60% | ||
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
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. | |
Woori Together TDF 2030 | |||
Disclosure of investments in associates and joint ventures [Line Items] | |||
Main business | Collective investment business | Collective investment business | |
Percentage of ownership | 23.80% | ||
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
Woori Together TDF 2025 | |||
Disclosure of investments in associates and joint ventures [Line Items] | |||
Main business | Collective investment business | Collective investment business | |
Percentage of ownership | 23.60% | ||
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
Woori BIG2 Plus Securities Investment Trust (Balanced Bond) | |||
Disclosure of investments in associates and joint ventures [Line Items] | |||
Main business | Collective investment business | Collective investment business | |
Percentage of ownership | 23.10% | ||
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
Description of reasons why presumption that interest of less than twenty per cent in associate is overcome | It was reclassified to associate from subsidiary resulted from the loss of control along with the changes in percentage of ownership. | It was reclassified to associate from subsidiary resulted from the loss of control along with the changes in percentage of ownership. | |
Koreawide partners 2nd Private Equity Fund | |||
Disclosure of investments in associates and joint ventures [Line Items] | |||
Main business | Other financial services | Other financial services | |
Percentage of ownership | 26.70% | ||
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
DS Power Semicon Private Equity Fund | |||
Disclosure of investments in associates and joint ventures [Line Items] | |||
Main business | Other financial services | Other financial services | |
Percentage of ownership | 21% | ||
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
Woori Safe Plus General Type Private Investment Trust S8(Bond) | |||
Disclosure of investments in associates and joint ventures [Line Items] | |||
Main business | Collective investment business | Collective investment business | |
Percentage of ownership | 9.20% | ||
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
STASSETS FUND III | |||
Disclosure of investments in associates and joint ventures [Line Items] | |||
Main business | Other financial services | Other financial services | |
Percentage of ownership | 28.30% | ||
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
BTS 2nd Private Equity Fund | |||
Disclosure of investments in associates and joint ventures [Line Items] | |||
Main business | Other financial services | Other financial services | |
Percentage of ownership | 20% | ||
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 | ||
Joongang Network Solution Co.,Ltd. | |||
Disclosure of investments in associates and joint ventures [Line Items] | |||
Main business | Other information technology and computer operation related services | Other information technology and computer operation related services | |
Percentage of ownership | 25.30% | ||
Location | Korea | Korea | |
Orient Shipyard Co., Ltd. | |||
Disclosure of investments in associates and joint ventures [Line Items] | |||
Main business | Manufacture of sections for ships | Manufacture of sections for ships | |
Percentage of ownership | 22.70% | ||
Location | Korea | Korea | |
Financial statements as of | 2022.12.31 |
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, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2020 KRW (₩) | |
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | ₩ 1,335,167 | ₩ 993,291 | ₩ 806,360 | |
Acquisition cost | 1,131,865 | 1,210,083 | 974,968 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 69,689 | 132,228 | 101,077 | |
Acquisition | 143,345 | 400,172 | 552,368 | |
Disposal/Reclassification | (222,922) | (165,042) | (274,498) | |
Dividends | (24,126) | (30,791) | (187,306) | |
Business combination | 1,249 | |||
Change in capital | 4,483 | 5,309 | (5,959) | |
Ending | 1,305,636 | $ 1,036,055 | 1,335,167 | 993,291 |
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 | 183 | 191 | 186 | |
Acquisition cost | 108 | 108 | 108 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 29 | (4) | 7 | |
Dividends | (4) | (4) | (3) | |
Change in capital | 1 | |||
Ending | 208 | 183 | 191 | |
Korea Credit Bureau Co., Ltd. | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 9,423 | 8,125 | 6,845 | |
Acquisition cost | 3,313 | 3,313 | 3,313 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (3,714) | 1,388 | 1,370 | |
Dividends | (90) | (90) | ||
Ending | 5,709 | 9,423 | 8,125 | |
Korea Finance Security Co., Ltd. | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 3,101 | 3,066 | 3,287 | |
Acquisition cost | 3,267 | 3,267 | 3,267 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (727) | 35 | (221) | |
Ending | 2,374 | 3,101 | 3,066 | |
Chin Hung International Inc. | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 51,176 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (742) | |||
Disposal/Reclassification | (50,411) | |||
Change in capital | (23) | |||
Saman Corporation | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 849 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (432) | |||
Disposal/Reclassification | (466) | |||
Change in capital | 49 | |||
Woori Growth Partnerships New Technology Private Equity Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 12,448 | 15,032 | 19,212 | |
Acquisition cost | 12,942 | 14,991 | 16,938 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 490 | (637) | (2,240) | |
Disposal/Reclassification | (2,049) | (1,947) | (1,728) | |
Dividends | (212) | |||
Ending | 10,889 | 12,448 | 15,032 | |
2016KIF-IMM Woori Bank Technology Venture Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 12,630 | 13,238 | 15,141 | |
Acquisition cost | 7,594 | 8,396 | 11,893 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (1,619) | 3,520 | 1,240 | |
Disposal/Reclassification | (801) | (3,497) | (492) | |
Dividends | (736) | (631) | (1,088) | |
Change in capital | (1,563) | |||
Ending | 9,474 | 12,630 | 13,238 | |
K BANK Co., Ltd. | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 239,493 | 174,097 | 31,254 | |
Acquisition cost | 236,232 | 236,232 | 236,232 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 11,854 | 67,553 | (18,334) | |
Acquisition | 163,082 | |||
Change in capital | (3,558) | (2,157) | (1,905) | |
Ending | 247,789 | 239,493 | 174,097 | |
Smart Private Equity Fund No.2 | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 1,481 | 2,764 | ||
Acquisition cost | 2,915 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (797) | (1,283) | ||
Disposal/Reclassification | (684) | |||
Ending | 1,481 | |||
Woori Bank-Company K Korea Movie Asset Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 345 | 2,788 | 3,323 | |
Acquisition cost | 2,100 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 71 | 137 | 365 | |
Disposal/Reclassification | (2,100) | (900) | ||
Dividends | (177) | (480) | ||
Ending | 239 | 345 | 2,788 | |
Well to Sea No.3 Private Equity Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 209,023 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 87,180 | |||
Disposal/Reclassification | (117,170) | |||
Dividends | (178,355) | |||
Change in capital | (678) | |||
Partner One Value Up I Private Equity Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 6,576 | 9,816 | 9,908 | |
Acquisition cost | 5,039 | 5,039 | 10,000 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (2,298) | 2,521 | (75) | |
Disposal/Reclassification | (4,961) | |||
Dividends | (800) | |||
Change in capital | (17) | |||
Ending | 4,278 | 6,576 | 9,816 | |
IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 11,153 | 9,756 | 4,576 | |
Acquisition cost | 7,556 | 9,736 | 9,756 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 1,312 | 1,417 | ||
Acquisition | 5,040 | 5,720 | ||
Disposal/Reclassification | (2,180) | (5,060) | (540) | |
Ending | 10,285 | 11,153 | 9,756 | |
Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 4,254 | 4,129 | 4,375 | |
Acquisition cost | 4,355 | 4,255 | 4,130 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 1 | |||
Acquisition | 100 | 125 | 75 | |
Disposal/Reclassification | (321) | |||
Ending | 4,355 | 4,254 | 4,129 | |
Woori-Shinyoung Growth-Cap Private Equity Fund I | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 28,713 | 38,342 | 11,841 | |
Acquisition cost | 17,018 | 17,218 | 32,480 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 14,561 | 20,813 | 7,366 | |
Acquisition | 12,799 | 31,363 | ||
Disposal/Reclassification | (32,415) | (12,124) | ||
Dividends | (10,826) | (104) | ||
Ending | 43,274 | 28,713 | 38,342 | |
LOTTE CARD Co., Ltd. | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 458,295 | 422,832 | 409,444 | |
Acquisition cost | 346,810 | 346,810 | 346,810 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 58,400 | 39,301 | 19,692 | |
Acquisition | 810 | |||
Dividends | (12,960) | (10,374) | (5,710) | |
Change in capital | 10,396 | 6,536 | (1,404) | |
Ending | 514,131 | 458,295 | 422,832 | |
Woori-Q Corporate Restructuring Private Equity Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 46,155 | 22,904 | 6,046 | |
Acquisition cost | 27,063 | 45,394 | 23,146 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (288) | 1,002 | (159) | |
Acquisition | 536 | 25,246 | 17,017 | |
Disposal/Reclassification | (18,867) | (2,997) | ||
Ending | 27,536 | 46,155 | 22,904 | |
PCC-Woori LP Secondary Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 12,350 | 8,128 | 2,525 | |
Acquisition cost | 10,440 | 10,100 | 7,575 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 674 | 1,697 | 554 | |
Acquisition | 3,440 | 2,525 | 5,049 | |
Disposal/Reclassification | (3,480) | |||
Ending | 12,984 | 12,350 | 8,128 | |
Force TEC Co., Ltd. | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 393 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 56 | (393) | 1,542 | |
Change in capital | (56) | (1,149) | ||
Ending | 393 | |||
Changes in investments in associates due to accounts transfer | 665 | 797 | ||
Cumulative changes in equity investments in associate due to accounts transfer | 1,462 | |||
Together-Korea Government Private Pool Private Securities Investment Trust No.3 | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 10,070 | 10,023 | ||
Acquisition cost | 10,000 | 10,000 | 10,000 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 173 | 47 | 23 | |
Acquisition | 100,000 | |||
Disposal/Reclassification | (90,000) | |||
Ending | 10,243 | 10,070 | 10,023 | |
Genesis Environmental Energy Company 1st Private Equity Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 4,126 | 3,979 | ||
Acquisition cost | 3,738 | 3,738 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (41) | 147 | 241 | |
Acquisition | 4,084 | |||
Disposal/Reclassification | (3,738) | (346) | ||
Dividends | (347) | |||
Ending | 4,126 | 3,979 | ||
Union Technology Finance Investment Association | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 12,388 | 4,485 | ||
Acquisition cost | 14,637 | 12,750 | 4,500 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 187 | (347) | (15) | |
Acquisition | 2,250 | 8,250 | 4,500 | |
Disposal/Reclassification | (363) | |||
Ending | 14,462 | 12,388 | 4,485 | |
Godo Kaisha Oceanos 1 | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 9,905 | 10,193 | 10,952 | |
Acquisition cost | 10,800 | 10,800 | 10,800 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 84 | 127 | 7 | |
Dividends | (1,049) | (370) | (850) | |
Change in capital | (152) | (45) | 84 | |
Ending | 8,788 | 9,905 | 10,193 | |
Japanese Hotel Real Estate Private Equity Fund No.2 | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 3,196 | 3,234 | 3,291 | |
Acquisition cost | 3,174 | 3,291 | 3,291 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 194 | 237 | 283 | |
Dividends | (299) | (201) | (154) | |
Change in capital | (236) | (74) | (186) | |
Ending | 2,855 | 3,196 | 3,234 | |
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 | |||
Acquisition cost | 6,000 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 49 | |||
Acquisition | 6,141 | |||
Disposal/Reclassification | (6,076) | |||
Change in capital | (114) | |||
Ending | 6,076 | |||
Woori G Clean Energy No.1 | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 1,024 | |||
Acquisition cost | 1,015 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 9 | |||
Acquisition | 1,462 | 1,015 | ||
Disposal/Reclassification | (2,338) | |||
Dividends | (148) | |||
Ending | 1,024 | |||
Woori Goseong Power EBL Private Special Asset Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 15,118 | |||
Acquisition cost | 14,915 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 227 | 611 | ||
Acquisition | 14,915 | |||
Disposal/Reclassification | (15,118) | |||
Dividends | (370) | (408) | ||
Change in capital | 143 | |||
Ending | 15,118 | |||
Woori Seoul Beltway Private Special Asset Fund No.1 | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 7,551 | 5,613 | ||
Acquisition cost | 9,791 | 7,513 | 5,590 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 246 | 124 | 97 | |
Acquisition | 2,312 | 1,935 | 5,591 | |
Dividends | (235) | (121) | (75) | |
Ending | 9,874 | 7,551 | 5,613 | |
Portone-Cape Fund No.1 | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 489 | 960 | ||
Acquisition cost | 340 | 340 | 1,000 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (25) | 189 | ||
Disposal/Reclassification | (660) | |||
Business combination | 960 | |||
Ending | 464 | 489 | 960 | |
Woori FirstValue Private Real Estate Fund No.2 | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 763 | 2,130 | ||
Acquisition cost | 9,000 | 9,000 | 9,000 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (6) | (637) | 1,184 | |
Disposal/Reclassification | (199) | |||
Dividends | (730) | |||
Change in capital | 946 | |||
Ending | 558 | 763 | 2,130 | |
Woori Star50 Master Fund ClassC-F | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 184 | |||
Acquisition cost | 200 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (4) | (16) | ||
Acquisition | 200 | |||
Disposal/Reclassification | (180) | |||
Ending | 184 | |||
JC Assurance No.2 Private Equity Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 17,728 | 29,050 | ||
Acquisition cost | 29,349 | 29,349 | 29,050 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (17,728) | (11,621) | ||
Acquisition | 299 | 29,050 | ||
Ending | 17,728 | 29,050 | ||
Dream Company Growth no.1 PEF | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 7,914 | 7,705 | ||
Acquisition cost | 7,412 | 7,706 | 7,705 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 418 | 680 | ||
Acquisition | 7,705 | |||
Dividends | (471) | (471) | ||
Ending | 7,861 | 7,914 | 7,705 | |
HMS-Oriens 1st Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 12,007 | 12,000 | ||
Acquisition cost | 12,000 | 12,000 | 12,000 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 1,245 | 7 | ||
Acquisition | 12,000 | |||
Ending | 13,252 | 12,007 | 12,000 | |
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 | 73,787 | 93,474 | ||
Acquisition cost | 70,988 | 91,092 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 921 | 2,382 | ||
Acquisition | 20,765 | 91,092 | ||
Disposal/Reclassification | (73,598) | (38,870) | ||
Dividends | (189) | (2,503) | ||
Ending | 73,787 | 93,474 | ||
Woori Hanhwa Eureka Private Equity Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 327 | 403 | 342 | |
Acquisition cost | 164 | 350 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (48) | 138 | 61 | |
Disposal/Reclassification | (164) | (214) | ||
Dividends | (115) | |||
Ending | 327 | 403 | ||
WooriG Senior Loan General Type Private Investment Trust No.1 | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 88,029 | 52,045 | ||
Acquisition cost | 80,268 | 87,382 | 51,959 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 3,788 | 2,959 | 343 | |
Acquisition | 14,073 | 38,757 | 51,959 | |
Disposal/Reclassification | (20,322) | (3,060) | ||
Dividends | (3,707) | (2,672) | (257) | |
Ending | 81,861 | 88,029 | 52,045 | |
Dicustody Co., Ltd | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 1 | |||
Acquisition cost | 1 | 1 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Acquisition | 1 | |||
Ending | 1 | 1 | ||
Woori Corporate Private Securities Fund 1 (Bond) | ||||
Changes in investments in associates and joint ventures [Abstract] | ||||
Acquisition | 10,000 | |||
Disposal/Reclassification | (10,000) | |||
Woori MultiReturn Securities Investment Trust 3 (Balanced Bond) | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 10,023 | |||
Acquisition cost | 10,000 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 23 | |||
Acquisition | 10,000 | |||
Disposal/Reclassification | (9,950) | |||
Dividends | (73) | |||
Ending | 10,023 | |||
WOORI TAERIM 1st Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 991 | 283 | ||
Acquisition cost | 1,100 | 1,100 | 1,100 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (3) | 708 | (6) | |
Business combination | 289 | |||
Ending | 988 | 991 | 283 | |
KIWOOM WOORI Financial 1st Investment Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 973 | 994 | ||
Acquisition cost | 1,000 | 1,000 | 1,000 | |
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (20) | (21) | (6) | |
Acquisition | 1,000 | |||
Ending | 953 | 973 | ₩ 994 | |
DeepDive WOORI 2021-1 Financial Investment Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 993 | |||
Acquisition cost | 900 | 1,000 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (12) | (7) | ||
Acquisition | 1,000 | |||
Disposal/Reclassification | (100) | |||
Dividends | (3) | |||
Ending | 878 | 993 | ||
Darwin Green Packaging Private Equity Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 3,957 | |||
Acquisition cost | 4,000 | 4,000 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 388 | (43) | ||
Acquisition | 4,000 | |||
Dividends | (400) | |||
Ending | 3,945 | 3,957 | ||
WooriG Real Infrastructure Blind General Type Private Placement Investment Trust [Member] | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 100 | |||
Acquisition cost | 100 | 100 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 2 | |||
Acquisition | 100 | |||
Ending | 102 | 100 | ||
Aarden Woori Apparel 1st Private Equity Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 99 | |||
Acquisition cost | 100 | 100 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (2) | (1) | ||
Acquisition | 100 | |||
Ending | 97 | 99 | ||
Woori Zip 1 | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 10,496 | |||
Acquisition cost | 9,254 | 10,143 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (138) | (26) | ||
Acquisition | 16,380 | |||
Disposal/Reclassification | (873) | (6,237) | ||
Change in capital | (795) | 379 | ||
Ending | 8,690 | 10,496 | ||
Woori Zip 2 | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 14,732 | |||
Acquisition cost | 12,928 | 14,254 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (127) | (50) | ||
Acquisition | 22,883 | |||
Disposal/Reclassification | (1,309) | (8,628) | ||
Change in capital | (1,116) | 527 | ||
Ending | 12,180 | 14,732 | ||
KUM HWA Co., Ltd. | ||||
Changes in investments in associates and joint ventures [Abstract] | ||||
Changes in investments in associates due to accounts transfer | 0.2 | 2 | ||
Cumulative changes in equity investments in associate due to accounts transfer | 2 | |||
Jinmyung Plus Co., Ltd. | ||||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 10 | |||
Ending | 10 | |||
Genesis Eco No.1 Private Equity Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 11,120 | |||
Acquisition cost | 12,000 | 11,805 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (99) | (685) | ||
Acquisition | 195 | 11,805 | ||
Ending | 11,216 | 11,120 | ||
Paratus Woori Material Component Equipment joint venture company | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 17,493 | |||
Acquisition cost | 17,700 | 17,700 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (243) | (207) | ||
Acquisition | 17,700 | |||
Ending | 17,250 | 17,493 | ||
Midas No. 8 Private Equity Joint Venture Company | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 18,968 | |||
Acquisition cost | 18,735 | 19,000 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 275 | (32) | ||
Acquisition | 19,000 | |||
Dividends | (530) | |||
Ending | 18,713 | 18,968 | ||
Woori Short-term Bond Securities Investment Trust (Bond) ClassC-F | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Beginning | 151,822 | |||
Acquisition cost | 110,000 | 150,000 | ||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 2,312 | 1,822 | ||
Acquisition | 50,000 | 150,000 | ||
Disposal/Reclassification | (90,137) | |||
Dividends | (1,972) | |||
Ending | 112,025 | 151,822 | ||
Woori G Star Private Placement Investment Trust No.33 [FI] | ||||
Changes in investments in associates and joint ventures [Abstract] | ||||
Acquisition | 20,000 | |||
Disposal/Reclassification | ₩ (20,000) | |||
IGEN2022No. 1 Private Equity Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Acquisition cost | 7,822 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 650 | |||
Acquisition | 8,000 | |||
Disposal/Reclassification | (475) | |||
Dividends | (165) | |||
Ending | 8,010 | |||
Synaptic Green No.1 PEF | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Acquisition cost | 8,000 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (207) | |||
Acquisition | 8,000 | |||
Ending | 7,793 | |||
Orchestra Private Equity Fund IV | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Acquisition cost | 9,878 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 197 | |||
Acquisition | 10,000 | |||
Disposal/Reclassification | (122) | |||
Dividends | (377) | |||
Ending | 9,698 | |||
Australia Green Energy 1st PEF | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Acquisition cost | 4,913 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (55) | |||
Acquisition | 4,913 | |||
Ending | 4,858 | |||
Woori Dyno 1st Private Equity Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Acquisition cost | 2,000 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (6) | |||
Acquisition | 2,000 | |||
Ending | 1,994 | |||
Woori Star50 Feeder Fund(H) | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Acquisition cost | 200 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (5) | |||
Disposal/Reclassification | 131 | |||
Ending | 126 | |||
Woori Together TDF 2030 | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Acquisition cost | 2,000 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (214) | |||
Disposal/Reclassification | 2,247 | |||
Ending | 2,033 | |||
Woori Together TDF 2025 | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Acquisition cost | 2,000 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (202) | |||
Disposal/Reclassification | 2,192 | |||
Ending | 1,990 | |||
Woori BIG2 Plus Securities Investment Trust (Balanced Bond) | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Acquisition cost | 1,200 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (161) | |||
Disposal/Reclassification | 1,235 | |||
Ending | 1,074 | |||
Koreawide partners 2nd Private Equity Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Acquisition cost | 20,000 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Acquisition | 20,000 | |||
Ending | 20,000 | |||
DS Power Semicon Private Equity Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Acquisition cost | 3,000 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 245 | |||
Acquisition | 3,000 | |||
Dividends | (269) | |||
Ending | 2,976 | |||
Woori Safe Plus General Type Private Investment Trust S8(Bond) | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Acquisition cost | 10,000 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | 230 | |||
Acquisition | 10,000 | |||
Dividends | (48) | |||
Ending | 10,182 | |||
STASSETS FUND III | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Acquisition cost | 1,500 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (270) | |||
Acquisition | 1,500 | |||
Ending | 1,230 | |||
BTS 2nd Private Equity Fund | ||||
Disclosure of changes in investments in associates and joint ventures [Line Items] | ||||
Acquisition cost | 3,026 | |||
Changes in investments in associates and joint ventures [Abstract] | ||||
Share of profits (losses) and others | (145) | |||
Acquisition | 3,026 | |||
Ending | 2,881 | |||
Orient Shipyard Co., Ltd. | ||||
Changes in investments in associates and joint ventures [Abstract] | ||||
Changes in investments in associates due to accounts transfer | 3,743 | |||
Cumulative changes in equity investments in associate due to accounts transfer | ₩ 3,743 |
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, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2020 KRW (₩) | Dec. 31, 2022 USD ($) | |
Equity method investment summarized financial information [Line Items] | |||||
Assets | ₩ 480,474,396 | ₩ 447,183,871 | ₩ 399,081,017 | $ 381,268,367 | |
Liabilites | 448,847,054 | 418,378,768 | 372,355,172 | $ 356,171,286 | |
Other comprehensive income(loss) | (239,819) | $ (190,302) | 170,181 | (82,207) | |
Total comprehensive income(loss) | (3,129,255) | $ (2,483,142) | (2,932,460) | ₩ (1,433,042) | |
W Service Networks Co., Ltd. | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 7,052 | 6,208 | |||
Liabilites | 2,825 | 2,504 | |||
Operating revenue | 19,697 | 17,019 | |||
Net income(loss) | 1,215 | 840 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 1,215 | 840 | |||
Korea Credit Bureau Co., Ltd. | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 155,165 | 113,859 | |||
Liabilites | 100,065 | 21,284 | |||
Operating revenue | 144,907 | 127,751 | |||
Net income(loss) | 13,809 | 20,486 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 13,809 | 20,486 | |||
Korea Finance Security Co., Ltd. | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 28,792 | 34,957 | |||
Liabilites | 12,964 | 14,286 | |||
Operating revenue | 47,043 | 57,462 | |||
Net income(loss) | (3,856) | 249 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | (3,856) | 249 | |||
Woori Growth Partnerships New Technology Private Equity Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 47,394 | 54,173 | |||
Liabilites | 208 | 231 | |||
Operating revenue | 2,978 | 3,807 | |||
Net income(loss) | 2,185 | (2,228) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 2,185 | (2,228) | |||
2016KIF-IMM Woori Bank Technology Venture Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 47,979 | 63,983 | |||
Liabilites | 609 | 837 | |||
Operating revenue | 665 | 23,010 | |||
Net income(loss) | (7,839) | 21,119 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | (7,839) | 21,119 | |||
K BANK Co., Ltd. | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 16,694,289 | 14,021,789 | |||
Liabilites | 14,896,426 | 12,291,131 | |||
Operating revenue | 491,880 | 250,502 | |||
Net income(loss) | 91,059 | 19,348 | |||
Other comprehensive income(loss) | (32,156) | (32,072) | |||
Total comprehensive income(loss) | 58,903 | (12,724) | |||
Woori Bank-Company K Korea Movie Asset Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 989 | 1,383 | |||
Liabilites | 33 | 2 | |||
Operating revenue | 462 | 1,075 | |||
Net income(loss) | 324 | 543 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 324 | 543 | |||
Partner One Value Up I Private Equity Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 18,395 | 28,273 | |||
Liabilites | 0 | 0 | |||
Operating revenue | (9,431) | 11,972 | |||
Net income(loss) | (9,831) | 10,914 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | (9,831) | 10,914 | |||
IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 51,804 | 56,363 | |||
Liabilites | 385 | 597 | |||
Operating revenue | 8,092 | 11,422 | |||
Net income(loss) | 7,288 | 10,077 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 7,288 | 10,077 | |||
Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 15,811 | 15,799 | |||
Liabilites | 95 | 5 | |||
Operating revenue | 1 | 0 | |||
Net income(loss) | (383) | (332) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | (383) | (332) | |||
Woori-Shinyoung Growth-Cap Private Equity Fund 1 | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 123,824 | 82,087 | |||
Liabilites | 312 | 314 | |||
Operating revenue | 41,780 | 83,143 | |||
Net income(loss) | 40,544 | 81,550 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 40,544 | 81,550 | |||
LOTTE CARD Co., Ltd. | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 19,983,059 | 15,980,312 | |||
Liabilites | 17,179,093 | 13,460,156 | |||
Operating revenue | 1,925,577 | 1,499,867 | |||
Net income(loss) | 268,096 | 184,919 | |||
Other comprehensive income(loss) | 43,162 | 25,612 | |||
Total comprehensive income(loss) | 311,258 | 210,531 | |||
Woori-Q Corporate Restructuring Private Equity Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 75,973 | 121,057 | |||
Liabilites | 418 | 555 | |||
Operating revenue | 3,019 | 327 | |||
Net income(loss) | (4,696) | (1,547) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | (4,696) | (1,547) | |||
PCC-Woori LP Secondary Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 33,591 | 31,585 | |||
Liabilites | 168 | 0 | |||
Operating revenue | 6,127 | 5,720 | |||
Net income(loss) | 1,152 | 4,162 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 1,152 | 4,162 | |||
Force TEC Co., Ltd. | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 10,489 | 11,904 | |||
Liabilites | 24,804 | 23,508 | |||
Operating revenue | 25,182 | 20,941 | |||
Net income(loss) | (2,664) | (9,188) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | (2,664) | (9,188) | |||
Together-Korea Government Private Pool Private Securities Investment Trust No.3 | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 10,246 | 10,073 | |||
Liabilites | 1 | 1 | |||
Operating revenue | 218 | 41 | |||
Net income(loss) | 170 | 37 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 170 | 37 | |||
Genesis Environmental Energy Company 1st Private Equity Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 20,610 | ||||
Liabilites | 3,941 | ||||
Operating revenue | 11,347 | ||||
Net income(loss) | 694 | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | 694 | ||||
Union Technology Finance Investment Association | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 48,991 | 41,996 | |||
Liabilites | 299 | 290 | |||
Operating revenue | 2,300 | 13 | |||
Net income(loss) | 632 | (1,168) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 632 | (1,168) | |||
Godo Kaisha Oceanos 1 | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 63,741 | 66,087 | |||
Liabilites | 45,358 | 45,367 | |||
Operating revenue | 2,942 | 3,141 | |||
Net income(loss) | 176 | 267 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 176 | 267 | |||
Japanese Hotel Real Estate Private Equity Fund No.2 | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 14,387 | 16,104 | |||
Liabilites | 13 | 14 | |||
Operating revenue | 1,050 | 911 | |||
Net income(loss) | 968 | 1,196 | |||
Other comprehensive income(loss) | (1,186) | (373) | |||
Total comprehensive income(loss) | (218) | 823 | |||
Woori Seoul Beltway Private Special Asset Fund No.1 | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 39,497 | 30,206 | |||
Liabilites | 2 | 1 | |||
Operating revenue | 1,028 | 536 | |||
Net income(loss) | 984 | 500 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 984 | 500 | |||
Portone-Cape Fund No.1 | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 2,344 | 2,447 | |||
Liabilites | 26 | 0 | |||
Operating revenue | 0 | 1,050 | |||
Net income(loss) | (129) | 947 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | (129) | 947 | |||
Woori FirstValue Private Real Estate Fund No.2 | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 67,005 | 69,672 | |||
Liabilites | 62,357 | 63,309 | |||
Operating revenue | 3 | 0 | |||
Net income(loss) | (54) | (5,303) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | (54) | (5,303) | |||
JC Assurance No.2 Private Equity Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 122,015 | 118,397 | |||
Liabilites | 3 | 0 | |||
Operating revenue | 0 | 0 | |||
Net income(loss) | (929) | (1,040) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | (929) | (1,040) | |||
Dream Company Growth no.1 PEF | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 28,351 | 28,533 | |||
Liabilites | 50 | 44 | |||
Operating revenue | 1,695 | 0 | |||
Net income(loss) | 1,506 | 1,500 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 1,506 | 1,500 | |||
HMS-Oriens 1st Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 58,095 | 52,659 | |||
Liabilites | 6 | 28 | |||
Operating revenue | 3,829 | 2,750 | |||
Net income(loss) | 3,279 | 2,179 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 3,279 | 2,179 | |||
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 | ||||
Liabilites | 0 | ||||
Operating revenue | 3,239 | ||||
Net income(loss) | 3,239 | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | 3,239 | ||||
Dicustody Co., Ltd. | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 95 | 98 | |||
Liabilites | 0 | 0 | |||
Operating revenue | 0 | 0 | |||
Net income(loss) | (3) | (2) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | (3) | (2) | |||
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 | 468,357 | 1,209,228 | |||
Liabilites | 67,022 | 158,524 | |||
Operating revenue | 14,189 | 89 | |||
Net income(loss) | 11,804 | 79 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 11,804 | 79 | |||
WOORI TAERIM 1st Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 4,047 | 4,047 | |||
Liabilites | 185 | 172 | |||
Operating revenue | 0 | 0 | |||
Net income(loss) | (13) | 2,770 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | (13) | 2,770 | |||
KIWOOM WOORI Financial 1st Investment Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 10,597 | 10,818 | |||
Liabilites | 111 | 111 | |||
Operating revenue | 1 | 1 | |||
Net income(loss) | (222) | (221) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | (222) | (221) | |||
DeepDive WOORI 20211 Financial Investment Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 7,412 | 8,340 | |||
Liabilites | 37 | 0 | |||
Operating revenue | 57 | 0 | |||
Net income(loss) | (103) | (60) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | (103) | (60) | |||
Darwin Green Packaging Private Equity Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 19,332 | 19,387 | |||
Liabilites | 0 | 0 | |||
Operating revenue | 2,215 | 0 | |||
Net income(loss) | 1,904 | (213) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 1,904 | (213) | |||
WooriG Real Infrastructure Blind General Type Private Placement Investment Trust | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 73,064 | 35,796 | |||
Liabilites | 56 | 1 | |||
Operating revenue | 3,140 | (34) | |||
Net income(loss) | 2,874 | (35) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 2,874 | (35) | |||
Aarden Woori Apparel 1st Private Equity Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 20,750 | 21,075 | |||
Liabilites | 89 | 89 | |||
Operating revenue | 8 | 0 | |||
Net income(loss) | (325) | (214) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | (325) | (214) | |||
Woori Zip 1 | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 48,309 | 52,259 | |||
Liabilites | 34,346 | 35,833 | |||
Operating revenue | 2,085 | 1,106 | |||
Net income(loss) | (215) | (26) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | (215) | (26) | |||
Woori Zip 2 | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 68,388 | 74,033 | |||
Liabilites | 48,927 | 50,951 | |||
Operating revenue | 3,069 | 1,536 | |||
Net income(loss) | (198) | (50) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | (198) | (50) | |||
KUM HWA Co., Ltd. | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 4 | 20 | |||
Liabilites | 159 | 176 | |||
Operating revenue | 0 | 58 | |||
Net income(loss) | (8) | (10) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | (8) | (10) | |||
Jinmyung Plus Co., Ltd. | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 696 | 568 | |||
Liabilites | 649 | 445 | |||
Operating revenue | 177 | 209 | |||
Net income(loss) | (9) | 5 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | (9) | 5 | |||
Woori G Senior Loan Private Placement Investment Trust No.1 | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 378,145 | 406,634 | |||
Liabilites | 23 | 25 | |||
Operating revenue | 18,584 | 14,553 | |||
Net income(loss) | 17,496 | 13,669 | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 17,496 | 13,669 | |||
Genesis Eco No.1 Private Equity Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 38,700 | 38,369 | |||
Liabilites | 5 | 4 | |||
Operating revenue | 48 | 308 | |||
Net income(loss) | (593) | (377) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | (593) | (377) | |||
Paratus Woori Material Component Equipment joint venture company | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 58,311 | 58,507 | |||
Liabilites | 617 | 0 | |||
Operating revenue | 7 | 7 | |||
Net income(loss) | (812) | (693) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | (812) | (693) | |||
Midas No. 8 Private Equity Joint Venture Company | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 65,936 | 66,699 | |||
Liabilites | 242 | 112 | |||
Operating revenue | 1,928 | 1 | |||
Net income(loss) | 977 | (113) | |||
Other comprehensive income(loss) | 0 | 0 | |||
Total comprehensive income(loss) | 977 | (113) | |||
Woori Hanhwa Eureka Private Equity Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 40,817 | ||||
Liabilites | 133 | ||||
Operating revenue | 20,193 | ||||
Net income(loss) | 19,821 | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | ₩ 19,821 | ||||
IGEN2022No. 1 Private Equity Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 32,362 | ||||
Liabilites | 122 | ||||
Operating revenue | 3,166 | ||||
Net income(loss) | 2,616 | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | 2,616 | ||||
Synaptic Green No.1 PEF | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 37,017 | ||||
Liabilites | 0 | ||||
Operating revenue | 4 | ||||
Net income(loss) | (983) | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | (983) | ||||
Orchestra Private Equity Fund IV | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 34,427 | ||||
Liabilites | 0 | ||||
Operating revenue | 1,580 | ||||
Net income(loss) | 878 | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | 878 | ||||
Koreawide partners 2nd Private Equity Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 77,039 | ||||
Liabilites | 2,038 | ||||
Operating revenue | 3,020 | ||||
Net income(loss) | 1 | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | 1 | ||||
Australia Green Energy 1st PEF | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 122,634 | ||||
Liabilites | 14 | ||||
Operating revenue | 30 | ||||
Net income(loss) | (1,380) | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | (1,380) | ||||
Woori Dyno 1st Private Equity Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 10,212 | ||||
Liabilites | 43 | ||||
Operating revenue | 200 | ||||
Net income(loss) | (31) | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | (31) | ||||
Woori Star50 Feeder Fund(H) | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 709 | ||||
Liabilites | 0 | ||||
Operating revenue | 48 | ||||
Net income(loss) | (480) | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | (480) | ||||
Woori Together TDF 2030 | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 8,615 | ||||
Liabilites | 0 | ||||
Operating revenue | 1,352 | ||||
Net income(loss) | (1,108) | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | (1,108) | ||||
Woori Together TDF 2025 | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 8,513 | ||||
Liabilites | 16 | ||||
Operating revenue | 1,287 | ||||
Net income(loss) | (1,018) | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | (1,018) | ||||
Woori BIG2 Plus Securities Investment Trust (Balanced Bond) | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 4,667 | ||||
Liabilites | 12 | ||||
Operating revenue | 389 | ||||
Net income(loss) | (636) | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | (636) | ||||
DS Power Semicon Private Equity Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 14,230 | ||||
Liabilites | 44 | ||||
Operating revenue | 1,185 | ||||
Net income(loss) | 937 | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | 937 | ||||
Woori Safe Plus General Type Private Investment Trust S8(Bond) | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 115,781 | ||||
Liabilites | 4,508 | ||||
Operating revenue | 1,899 | ||||
Net income(loss) | 1,763 | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | 1,763 | ||||
STASSETS FUND III | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 4,660 | ||||
Liabilites | 313 | ||||
Operating revenue | 37 | ||||
Net income(loss) | (953) | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | (953) | ||||
BTS 2nd Private Equity Fund | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 15,012 | ||||
Liabilites | 608 | ||||
Operating revenue | 1 | ||||
Net income(loss) | (725) | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | (725) | ||||
Orient Shipyard Co., Ltd. | |||||
Equity method investment summarized financial information [Line Items] | |||||
Assets | 10,832 | ||||
Liabilites | 27,225 | ||||
Operating revenue | 0 | ||||
Net income(loss) | (16,467) | ||||
Other comprehensive income(loss) | 0 | ||||
Total comprehensive income(loss) | ₩ (16,467) |
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, 2022 | Dec. 31, 2021 | |
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 | |
Ownership (%) | 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. | |
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 | |
Ownership (%) | 24% | |
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. | |
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 | 10,191 | 13,759 |
Ownership (%) | 28.60% | 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% | |
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, 2022 KRW (₩) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2020 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2019 KRW (₩) | |
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 | ₩ 31,627,342 | ₩ 28,805,103 | ₩ 26,725,845 | $ 25,097,081 | $ 22,857,565 | ₩ 25,492,332 |
Book value | 1,305,636 | 1,335,167 | 993,291 | $ 1,036,055 | 806,360 | |
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 | ₩ 4,227 | ₩ 3,704 | ₩ 3,857 | |||
Ownership | 4.90% | 4.90% | 4.90% | |||
Ownership portion of net assets | ₩ 209 | ₩ 183 | ₩ 191 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | (1) | 0 | 0 | |||
Book value | 208 | 183 | 191 | 186 | ||
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 | ₩ 55,100 | ₩ 92,575 | ₩ 79,478 | |||
Ownership | 9.90% | 9.90% | 9.90% | |||
Ownership portion of net assets | ₩ 5,462 | ₩ 9,177 | ₩ 7,876 | |||
Basis difference | 246 | 246 | 246 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 1 | 0 | 3 | |||
Book value | 5,709 | 9,423 | 8,125 | 6,845 | ||
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 | ₩ 15,828 | ₩ 20,671 | ₩ 20,442 | |||
Ownership | 15% | 15% | 15% | |||
Ownership portion of net assets | ₩ 2,374 | ₩ 3,101 | ₩ 3,066 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 0 | 0 | |||
Book value | 2,374 | 3,101 | 3,066 | 3,287 | ||
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 | ₩ 47,185 | ₩ 53,942 | ₩ 65,138 | |||
Ownership | 23.10% | 23.10% | 23.10% | |||
Ownership portion of net assets | ₩ 10,889 | ₩ 12,448 | ₩ 15,034 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 0 | (2) | |||
Book value | 10,889 | 12,448 | 15,032 | 19,212 | ||
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 | ₩ 47,370 | ₩ 63,146 | ₩ 62,911 | |||
Ownership | 20% | 20% | 20% | |||
Ownership portion of net assets | ₩ 9,474 | ₩ 12,630 | ₩ 12,582 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 0 | 656 | |||
Book value | 9,474 | 12,630 | 13,238 | 15,141 | ||
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 | ₩ 1,796,269 | ₩ 1,730,307 | ₩ 509,978 | |||
Ownership | 12.60% | 12.60% | 26.20% | |||
Ownership portion of net assets | ₩ 225,894 | ₩ 217,599 | ₩ 133,614 | |||
Basis difference | 21,894 | 21,894 | 44,117 | |||
Impairment | 0 | 0 | (3,634) | |||
Intercompany transaction | 1 | 0 | 0 | |||
Book value | 247,789 | 239,493 | 174,097 | 31,254 | ||
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 | |||||
Ownership | 20% | |||||
Ownership portion of net assets | ₩ 2,723 | |||||
Basis difference | 0 | |||||
Impairment | (1,242) | |||||
Intercompany transaction | 0 | |||||
Book value | 1,481 | 2,764 | ||||
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 | ₩ 957 | ₩ 1,381 | ₩ 11,154 | |||
Ownership | 25% | 25% | 25% | |||
Ownership portion of net assets | ₩ 239 | ₩ 345 | ₩ 2,788 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 0 | 0 | |||
Book value | 239 | 345 | 2,788 | 3,323 | ||
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 | |||||
Ownership | 50% | |||||
Ownership portion of net assets | ₩ 0 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 209,023 | |||||
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 | ₩ 18,395 | ₩ 28,273 | ₩ 42,205 | |||
Ownership | 23.30% | 23.30% | 23.30% | |||
Ownership portion of net assets | ₩ 4,278 | ₩ 6,576 | ₩ 9,817 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 0 | (1) | |||
Book value | 4,278 | 6,576 | 9,816 | 9,908 | ||
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 | ₩ 51,419 | ₩ 55,767 | ₩ 45,888 | |||
Ownership | 20% | 20% | 20% | |||
Ownership portion of net assets | ₩ 10,284 | ₩ 11,153 | ₩ 9,178 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 1 | 0 | 578 | |||
Book value | 10,285 | 11,153 | 9,756 | 4,576 | ||
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 | ₩ 15,716 | ₩ 15,794 | ₩ 15,747 | |||
Ownership | 25% | 25% | 25% | |||
Ownership portion of net assets | ₩ 3,929 | ₩ 3,949 | ₩ 3,937 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 426 | 305 | 192 | |||
Book value | 4,355 | 4,254 | 4,129 | 4,375 | ||
Woori-Shinyoung Growth-Cap Private Equity Fund I | ||||||
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 | ₩ 123,512 | ₩ 81,773 | ₩ 109,627 | |||
Ownership | 35% | 35% | 35% | |||
Ownership portion of net assets | ₩ 43,274 | ₩ 28,713 | ₩ 38,342 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 0 | 0 | |||
Book value | 43,274 | 28,713 | 38,342 | 11,841 | ||
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 | ₩ 2,570,656 | ₩ 2,291,474 | ₩ 2,114,159 | |||
Ownership | 20% | 20% | 20% | |||
Ownership portion of net assets | ₩ 514,131 | ₩ 458,295 | ₩ 422,832 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 0 | 0 | |||
Book value | 514,131 | 458,295 | 422,832 | 409,444 | ||
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 | ₩ 75,555 | ₩ 120,502 | ₩ 57,922 | |||
Ownership | 35.60% | 38.10% | 38.40% | |||
Ownership portion of net assets | ₩ 27,536 | ₩ 46,155 | ₩ 22,220 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 0 | 684 | |||
Book value | 27,536 | 46,155 | 22,904 | 6,046 | ||
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 | ₩ 33,423 | ₩ 31,585 | ₩ 20,923 | |||
Ownership | 38.80% | 38.80% | 38.80% | |||
Ownership portion of net assets | ₩ 12,984 | ₩ 12,350 | ₩ 8,126 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 0 | 2 | |||
Book value | 12,984 | 12,350 | 8,128 | 2,525 | ||
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 | ₩ (14,315) | ₩ (11,604) | ₩ 1,526 | |||
Ownership | 24.50% | 24.50% | 25.80% | |||
Ownership portion of net assets | ₩ (3,513) | ₩ (2,843) | ₩ 393 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 3,513 | 2,843 | 0 | |||
Book value | 393 | |||||
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 | ₩ 10,245 | ₩ 10,071 | ₩ 10,024 | |||
Ownership | 100% | 100% | 100% | |||
Ownership portion of net assets | ₩ 10,244 | ₩ 10,070 | ₩ 10,024 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | (1) | 0 | (1) | |||
Book value | 10,243 | 10,070 | 10,023 | |||
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 | ||||
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 | ₩ 48,692 | ₩ 41,706 | ₩ 15,100 | |||
Ownership | 29.70% | 29.70% | 29.70% | |||
Ownership portion of net assets | ₩ 14,463 | ₩ 12,388 | ₩ 4,485 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | (1) | 0 | 0 | |||
Book value | 14,462 | 12,388 | 4,485 | |||
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 | ₩ 18,383 | ₩ 20,720 | ₩ 21,321 | |||
Ownership | 47.80% | 47.80% | 47.80% | |||
Ownership portion of net assets | ₩ 8,788 | ₩ 9,905 | ₩ 10,193 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 0 | 0 | |||
Book value | 8,788 | 9,905 | 10,193 | 10,952 | ||
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 | ₩ 14,374 | ₩ 16,090 | ₩ 16,278 | |||
Ownership | 19.90% | 19.90% | 19.90% | |||
Ownership portion of net assets | ₩ 2,855 | ₩ 3,196 | ₩ 3,234 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 0 | 0 | |||
Book value | 2,855 | 3,196 | 3,234 | 3,291 | ||
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 | 6,076 | |||||
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 | 29.30% | |||||
Ownership portion of net assets | ₩ 1,024 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 1,024 | |||||
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 | 16.70% | |||||
Ownership portion of net assets | ₩ 15,118 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 15,118 | |||||
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 | ₩ 39,495 | ₩ 30,205 | ₩ 22,451 | |||
Ownership | 25% | 25% | 25% | |||
Ownership portion of net assets | ₩ 9,874 | ₩ 7,551 | ₩ 5,613 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 0 | 0 | |||
Book value | 9,874 | 7,551 | 5,613 | |||
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 | ₩ 2,318 | ₩ 2,447 | ₩ 4,800 | |||
Ownership | 20% | 20% | 20% | |||
Ownership portion of net assets | ₩ 464 | ₩ 489 | ₩ 960 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 0 | 0 | |||
Book value | 464 | 489 | 960 | |||
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 | ₩ 17,753 | |||||
Ownership | 12% | |||||
Ownership portion of net assets | ₩ 2,130 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 558 | 763 | 2,130 | |||
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 | 184 | |||||
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 | ₩ 122,012 | ₩ 118,397 | ₩ 98,418 | |||
Ownership | 23.50% | 24.40% | 29.30% | |||
Ownership portion of net assets | ₩ 17,728 | ₩ 29,349 | ₩ 29,050 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | (17,728) | (11,621) | 0 | |||
Intercompany transaction | 0 | 0 | 0 | |||
Book value | 17,728 | 29,050 | ||||
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 | ₩ 28,301 | ₩ 28,489 | ₩ 28,684 | |||
Ownership | 27.80% | 27.80% | 27.80% | |||
Ownership portion of net assets | ₩ 7,861 | ₩ 7,914 | ₩ 7,705 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 0 | 0 | |||
Book value | 7,861 | 7,914 | 7,705 | |||
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 | ₩ 58,089 | ₩ 52,631 | ₩ 52,632 | |||
Ownership | 22.80% | 22.80% | 22.80% | |||
Ownership portion of net assets | ₩ 13,252 | ₩ 12,007 | ₩ 12,000 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 0 | 0 | |||
Book value | 13,252 | 12,007 | 12,000 | |||
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 | ||||
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 | ₩ 3,862 | ₩ 3,875 | ₩ 1,106 | |||
Ownership | 25.60% | 25.60% | 25.60% | |||
Ownership portion of net assets | ₩ 988 | ₩ 991 | ₩ 283 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 0 | 0 | |||
Book value | 988 | 991 | 283 | |||
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 | ₩ 95 | ₩ 98 | ||||
Ownership | 1% | 1% | ||||
Ownership portion of net assets | ₩ 1 | ₩ 1 | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 0 | 0 | ||||
Book value | 1 | 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% | |||||
Ownership portion of net assets | ₩ 10,023 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 10,023 | |||||
Woori Short-term Bond Securities Investment Trust (Bond) 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 | ₩ 401,335 | ₩ 1,050,704 | ||||
Ownership | 27.90% | 14.50% | ||||
Ownership portion of net assets | ₩ 112,025 | ₩ 151,822 | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 0 | 0 | ||||
Book value | 112,025 | 151,822 | ||||
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 | ₩ 10,486 | ₩ 10,707 | ₩ 10,929 | |||
Ownership | 9.10% | 9.10% | 9.10% | |||
Ownership portion of net assets | ₩ 953 | ₩ 973 | ₩ 994 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 0 | 0 | |||
Book value | 953 | 973 | 994 | |||
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 | ₩ 7,375 | ₩ 8,340 | ||||
Ownership | 11.90% | 11.90% | ||||
Ownership portion of net assets | ₩ 878 | ₩ 993 | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 0 | 0 | ||||
Book value | 878 | 993 | ||||
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 | ₩ 19,332 | ₩ 19,387 | ||||
Ownership | 20.40% | 20.40% | ||||
Ownership portion of net assets | ₩ 3,945 | ₩ 3,957 | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 0 | 0 | ||||
Book value | 3,945 | 3,957 | ||||
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 | ₩ 4,648 | ₩ 6,363 | ||||
Ownership | 12% | 12% | ||||
Ownership portion of net assets | ₩ 558 | ₩ 763 | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 0 | 0 | ||||
Book value | 558 | 763 | ||||
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 | ₩ 73,008 | ₩ 35,795 | ||||
Ownership | 0.10% | 0.30% | ||||
Ownership portion of net assets | ₩ 102 | ₩ 100 | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 0 | 0 | ||||
Book value | 102 | 100 | ||||
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 | ||||
Ownership | 0.80% | 0.80% | ||||
Ownership portion of net assets | ₩ 327 | ₩ 403 | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 0 | 0 | ||||
Book value | 327 | 403 | ₩ 342 | |||
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 | ₩ 20,661 | ₩ 20,986 | ||||
Ownership | 0.50% | 0.50% | ||||
Ownership portion of net assets | ₩ 97 | ₩ 99 | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 0 | 0 | ||||
Book value | 97 | 99 | ||||
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 | ₩ 13,963 | ₩ 16,426 | ||||
Ownership | 64% | 63.90% | ||||
Ownership portion of net assets | ₩ 8,690 | ₩ 10,496 | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 0 | 0 | ||||
Book value | 8,690 | 10,496 | ||||
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 | ₩ 19,461 | ₩ 23,082 | ||||
Ownership | 64% | 63.80% | ||||
Ownership portion of net assets | ₩ 12,180 | ₩ 14,732 | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 0 | 0 | ||||
Book value | 12,180 | 14,732 | ||||
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 | ₩ (155) | ₩ (156) | ||||
Ownership | 20.10% | 20.10% | ||||
Ownership portion of net assets | ₩ (31) | ₩ (31) | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 31 | 31 | ||||
Jinmyung Plus 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 | ₩ 47 | ₩ 123 | ||||
Ownership | 21.30% | 21.30% | ||||
Ownership portion of net assets | ₩ 10 | ₩ 25 | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 0 | (25) | ||||
Book value | 10 | |||||
Woori G 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 | ₩ 378,122 | ₩ 406,609 | ₩ 240,399 | |||
Ownership | 21.70% | 21.70% | 21.70% | |||
Ownership portion of net assets | ₩ 81,861 | ₩ 88,029 | ₩ 52,045 | |||
Basis difference | 0 | 0 | 0 | |||
Impairment | 0 | 0 | 0 | |||
Intercompany transaction | 0 | 0 | 0 | |||
Book value | 81,861 | 88,029 | ₩ 52,045 | |||
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 | ₩ 38,695 | ₩ 38,365 | ||||
Ownership | 29% | 29% | ||||
Ownership portion of net assets | ₩ 11,216 | ₩ 11,120 | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 0 | 0 | ||||
Book value | 11,216 | 11,120 | ||||
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 | ₩ 57,694 | ₩ 58,507 | ||||
Ownership | 29.90% | 29.90% | ||||
Ownership portion of net assets | ₩ 17,250 | ₩ 17,493 | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 0 | 0 | ||||
Book value | 17,250 | 17,493 | ||||
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 | ₩ 65,694 | ₩ 66,587 | ||||
Ownership | 28.50% | 28.50% | ||||
Ownership portion of net assets | ₩ 18,713 | ₩ 18,968 | ||||
Basis difference | 0 | 0 | ||||
Impairment | 0 | 0 | ||||
Intercompany transaction | 0 | 0 | ||||
Book value | 18,713 | ₩ 18,968 | ||||
IGEN2022No. 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 | ₩ 32,240 | |||||
Ownership | 24.80% | |||||
Ownership portion of net assets | ₩ 8,010 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 8,010 | |||||
Synaptic Green 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 | ₩ 37,017 | |||||
Ownership | 21.10% | |||||
Ownership portion of net assets | ₩ 7,793 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 7,793 | |||||
Orchestra Private Equity Fund IV | ||||||
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 | ₩ 34,427 | |||||
Ownership | 28.20% | |||||
Ownership portion of net assets | ₩ 9,698 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 9,698 | |||||
Australia Green Energy 1st 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 | ₩ 122,620 | |||||
Ownership | 4% | |||||
Ownership portion of net assets | ₩ 4,858 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 4,858 | |||||
Woori Dyno 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 | ₩ 10,169 | |||||
Ownership | 19.60% | |||||
Ownership portion of net assets | ₩ 1,994 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 1,994 | |||||
Woori Star50 Feeder Fund(H) | ||||||
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 | ₩ 709 | |||||
Ownership | 17.90% | |||||
Ownership portion of net assets | ₩ 126 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 126 | |||||
Woori Together TDF 2030 | ||||||
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 | ₩ 8,615 | |||||
Ownership | 23.80% | |||||
Ownership portion of net assets | ₩ 2,033 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 2,033 | |||||
Woori Together TDF 2025 | ||||||
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 | ₩ 8,497 | |||||
Ownership | 23.60% | |||||
Ownership portion of net assets | ₩ 1,990 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 1,990 | |||||
Woori BIG2 Plus Securities Investment Trust (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 | ₩ 4,655 | |||||
Ownership | 23.10% | |||||
Ownership portion of net assets | ₩ 1,074 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 1,074 | |||||
Koreawide partners 2nd Private Equity Fund [Member] | ||||||
Reconciliations from the net assets of associates and joint ventures based on the ownership ratio to corresponding book value of investment in associates and joint ventures [Line Items] | ||||||
Total net asset | ₩ 75,001 | |||||
Ownership | 26.70% | |||||
Ownership portion of net assets | ₩ 20,000 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 20,000 | |||||
DS Power Semicon Private Equity Fund [Member] | ||||||
Reconciliations from the net assets of associates and joint ventures based on the ownership ratio to corresponding book value of investment in associates and joint ventures [Line Items] | ||||||
Total net asset | ₩ 14,186 | |||||
Ownership | 21% | |||||
Ownership portion of net assets | ₩ 2,976 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 2,976 | |||||
Woori Safe Plus General Type Private Investment Trust S8(Bond) [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 | ₩ 111,273 | |||||
Ownership | 9.20% | |||||
Ownership portion of net assets | ₩ 10,182 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 10,182 | |||||
STASSETS FUND III | ||||||
Reconciliations from the net assets of associates and joint ventures based on the ownership ratio to corresponding book value of investment in associates and joint ventures [Line Items] | ||||||
Total net asset | ₩ 4,347 | |||||
Ownership | 28.30% | |||||
Ownership portion of net assets | ₩ 1,230 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 1,230 | |||||
BTS 2nd 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 | ₩ 14,405 | |||||
Ownership | 20% | |||||
Ownership portion of net assets | ₩ 2,881 | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | 0 | |||||
Book value | 2,881 | |||||
Orient Shipyard 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 | ₩ (16,393) | |||||
Ownership | 22.70% | |||||
Ownership portion of net assets | ₩ (3,721) | |||||
Basis difference | 0 | |||||
Impairment | 0 | |||||
Intercompany transaction | ₩ 3,721 |
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, 2020 KRW (₩) |
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, 2022 KRW (₩) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2020 KRW (₩) | Dec. 31, 2019 KRW (₩) | |
Disclosure of detailed information about investment property [line items] | |||||
Net carrying value | ₩ 387,707 | ₩ 389,495 | $ 307,655 | ₩ 387,464 | ₩ 280,239 |
Fair value of investment properties | ₩ 647,072 | ₩ 665,710 | |||
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 | ₩ 418,775 | ₩ 415,163 | |||
Accumulated depreciation | |||||
Disclosure of detailed information about investment property [line items] | |||||
Net carrying value | (30,982) | (25,582) | |||
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, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2020 KRW (₩) | |
Reconciliation of changes in investment property [abstract] | ||||
Beginning balance | ₩ 389,495 | ₩ 387,464 | ₩ 280,239 | |
Changes in investment property [abstract] | ||||
Acquisition | 0 | 0 | 76,588 | |
Disposal | (1,206) | 0 | (353) | |
Depreciation | (3,925) | (2,809) | (2,689) | |
Transfer | 7,153 | 6,095 | 30,431 | |
Foreign currencies translation adjustments | (3,810) | (1,255) | 267 | |
Business combination | 0 | 0 | 10,557 | |
Others | 0 | 0 | (7,576) | |
Ending balance | ₩ 387,707 | $ 307,655 | ₩ 389,495 | ₩ 387,464 |
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, 2022 | Dec. 31, 2021 | |
Rental income from investment property, net of direct operating expense [abstract] | ||
Rental fee earned from investment properties | ₩ 22,798 | ₩ 15,056 |
Direct operating expense from investment property generating rental income | ₩ 4,093 | ₩ 2,941 |
Investment properties - Lease p
Investment properties - Lease payments expected to be received in the future under lease contracts (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of maturity analysis of operating lease payments [line items] | ||
Lease payments expected to be received in the future under lease contracts | ₩ 1,876,827 | ₩ 1,236,814 |
Investment property [member] | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Lease payments expected to be received in the future under lease contracts | 34,572 | 42,847 |
Within a year | Investment property [member] | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Lease payments expected to be received in the future under lease contracts | 12,368 | 13,769 |
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 | 526,899 | 347,539 |
More than 1 year and within 2 years | Investment property [member] | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Lease payments expected to be received in the future under lease contracts | 8,481 | 10,770 |
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 | 420,244 | 262,176 |
More than 2 years and within 3 years | Investment property [member] | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Lease payments expected to be received in the future under lease contracts | 5,320 | 7,743 |
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 | 275,080 | 170,391 |
More than 3 years and within 4 years | Investment property [member] | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Lease payments expected to be received in the future under lease contracts | 3,201 | 5,009 |
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 | 86,606 | 79,555 |
More than 4 years and within 5 years | Investment property [member] | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Lease payments expected to be received in the future under lease contracts | 2,634 | 2,953 |
More than 5 years | Investment property [member] | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Lease payments expected to be received in the future under lease contracts | ₩ 2,568 | ₩ 2,603 |
Premises And Equipment - Detail
Premises And Equipment - Details of premises and equipment (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2020 KRW (₩) | Dec. 31, 2019 KRW (₩) |
Disclosure of property plant and equipment [Line Items] | |||||
Premises and equipment (owned) | ₩ 2,777,847 | ₩ 2,789,176 | ₩ 2,839,643 | ₩ 2,897,602 | |
Right-of-use asset | 365,083 | 385,544 | 447,555 | ||
Carrying value | 3,142,930 | $ 2,493,993 | 3,174,720 | ||
Land | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Premises and equipment (owned) | 1,695,357 | 1,719,325 | 1,726,045 | 1,761,159 | |
Right-of-use asset | 0 | 0 | |||
Carrying value | 1,695,357 | 1,719,325 | |||
Building | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Premises and equipment (owned) | 730,676 | 756,964 | 787,040 | 802,299 | |
Right-of-use asset | 349,494 | 367,480 | 435,132 | ||
Carrying value | 1,080,170 | 1,124,444 | |||
Equipment and vehicles | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Premises and equipment (owned) | 261,278 | 258,361 | 268,225 | 278,016 | |
Right-of-use asset | 15,589 | 18,064 | 12,423 | ||
Carrying value | 276,867 | 276,425 | |||
Leasehold improvements | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Premises and equipment (owned) | 58,352 | 51,354 | 50,085 | 54,839 | |
Right-of-use asset | 0 | 0 | |||
Carrying value | 58,352 | 51,354 | |||
Construction in progress | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Premises and equipment (owned) | 32,184 | 3,171 | 8,246 | 1,287 | |
Right-of-use asset | 0 | 0 | |||
Carrying value | 32,184 | 3,171 | |||
Structures | |||||
Disclosure of property plant and equipment [Line Items] | |||||
Premises and equipment (owned) | 0 | 1 | ₩ 2 | ₩ 2 | |
Right-of-use asset | 0 | 0 | |||
Carrying value | ₩ 0 | ₩ 1 |
Premises And Equipment - Deta_2
Premises And Equipment - Details of premises and equipment(owned) (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | ₩ 2,777,847 | ₩ 2,789,176 | ₩ 2,839,643 | ₩ 2,897,602 |
Acquisition cost | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | 4,457,047 | 4,430,941 | ||
Accumulated depreciation | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | (1,678,540) | (1,641,105) | ||
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 | 1,695,357 | 1,719,325 | 1,726,045 | 1,761,159 |
Land | Acquisition cost | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | 1,696,017 | 1,719,985 | ||
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 | 730,676 | 756,964 | 787,040 | 802,299 |
Building | Acquisition cost | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | 1,078,385 | 1,076,091 | ||
Building | Accumulated depreciation | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | (347,709) | (319,127) | ||
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 | 261,278 | 258,361 | 268,225 | 278,016 |
Equipment and vehicles | Acquisition cost | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | 1,179,928 | 1,156,479 | ||
Equipment and vehicles | Accumulated depreciation | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | (918,650) | (898,118) | ||
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 | 58,352 | 51,354 | 50,085 | 54,839 |
Leasehold improvements | Acquisition cost | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | 470,513 | 475,195 | ||
Leasehold improvements | Accumulated depreciation | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | (412,161) | (423,841) | ||
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 | 32,184 | 3,171 | 8,246 | 1,287 |
Construction in progress | Acquisition cost | ||||
Disclosure of property plant and equipment [Line Items] | ||||
Net carrying value | 32,184 | 3,171 | ||
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 | 0 | 1 | ₩ 2 | ₩ 2 |
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 | (20) | (19) | ||
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Reconciliation of changes in property plant and equipment [Abstract] | |||
Beginning balance | ₩ 2,789,176 | ₩ 2,839,643 | ₩ 2,897,602 |
Changes in property plant and equipment [Abstract] | |||
Acquisitions | 173,156 | 118,803 | 149,462 |
Disposals | (22,471) | (4,636) | (11,338) |
Depreciation | (151,076) | (149,738) | (159,539) |
Transfer | (7,153) | (6,095) | (32,895) |
Foreign currencies translation adjustments | (117) | 6,304 | (4,479) |
Business combination | 12,026 | 3,776 | |
Others | (2,585) | (2,253) | (2,946) |
Classification of assets held for sale | (13,109) | (12,852) | 0 |
Ending balance | 2,777,847 | 2,789,176 | 2,839,643 |
Land | |||
Reconciliation of changes in property plant and equipment [Abstract] | |||
Beginning balance | 1,719,325 | 1,726,045 | 1,761,159 |
Changes in property plant and equipment [Abstract] | |||
Acquisitions | 24 | 0 | 3,787 |
Disposals | (20,024) | 0 | (8,326) |
Depreciation | 0 | 0 | 0 |
Transfer | (3,040) | (3,649) | (30,847) |
Foreign currencies translation adjustments | (855) | 991 | (836) |
Business combination | 5,917 | 1,108 | |
Others | 415 | 3,095 | 0 |
Classification of assets held for sale | (6,405) | (7,157) | |
Ending balance | 1,695,357 | 1,719,325 | 1,726,045 |
Building | |||
Reconciliation of changes in property plant and equipment [Abstract] | |||
Beginning balance | 756,964 | 787,040 | 802,299 |
Changes in property plant and equipment [Abstract] | |||
Acquisitions | 14,524 | 15,750 | 26,972 |
Disposals | (788) | (1,994) | (1,719) |
Depreciation | (32,290) | (33,523) | (34,572) |
Transfer | (4,113) | (2,446) | (2,048) |
Foreign currencies translation adjustments | (428) | 712 | (882) |
Business combination | 3,523 | 81 | |
Others | (12) | (2,880) | (3,091) |
Classification of assets held for sale | (6,704) | (5,695) | |
Ending balance | 730,676 | 756,964 | 787,040 |
Equipment and vehicles | |||
Reconciliation of changes in property plant and equipment [Abstract] | |||
Beginning balance | 258,361 | 268,225 | 278,016 |
Changes in property plant and equipment [Abstract] | |||
Acquisitions | 98,620 | 68,069 | 84,828 |
Disposals | (1,003) | (1,663) | (605) |
Depreciation | (97,600) | (93,921) | (94,388) |
Transfer | 0 | 15,399 | 118 |
Foreign currencies translation adjustments | 392 | 2,868 | (1,849) |
Business combination | 2,586 | 2,150 | |
Others | (78) | (616) | (45) |
Classification of assets held for sale | 0 | 0 | |
Ending balance | 261,278 | 258,361 | 268,225 |
Leasehold improvements | |||
Reconciliation of changes in property plant and equipment [Abstract] | |||
Beginning balance | 51,354 | 50,085 | 54,839 |
Changes in property plant and equipment [Abstract] | |||
Acquisitions | 28,178 | 23,347 | 26,124 |
Disposals | (656) | (979) | (688) |
Depreciation | (21,185) | (22,293) | (30,579) |
Transfer | 0 | 0 | 0 |
Foreign currencies translation adjustments | 549 | 1,580 | (830) |
Business combination | 0 | 437 | |
Others | 112 | (386) | 782 |
Classification of assets held for sale | 0 | 0 | |
Ending balance | 58,352 | 51,354 | 50,085 |
Construction in progress | |||
Reconciliation of changes in property plant and equipment [Abstract] | |||
Beginning balance | 3,171 | 8,246 | 1,287 |
Changes in property plant and equipment [Abstract] | |||
Acquisitions | 31,810 | 11,637 | 7,751 |
Disposals | 0 | 0 | 0 |
Depreciation | 0 | 0 | 0 |
Transfer | 0 | (15,399) | (118) |
Foreign currencies translation adjustments | 225 | 153 | (82) |
Business combination | 0 | 0 | |
Others | (3,022) | (1,466) | (592) |
Classification of assets held for sale | 0 | 0 | |
Ending balance | 32,184 | 3,171 | 8,246 |
Structures | |||
Reconciliation of changes in property plant and equipment [Abstract] | |||
Beginning balance | 1 | 2 | 2 |
Changes in property plant and equipment [Abstract] | |||
Acquisitions | 0 | 0 | 0 |
Disposals | 0 | 0 | 0 |
Depreciation | (1) | (1) | 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 | ₩ 0 | ₩ 1 | ₩ 2 |
Premises And Equipment - Deta_4
Premises And Equipment - Details of right-of-use assets (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of quantitative information about right-of-use assets [Line Items] | |||
Net carrying value | ₩ 365,083 | ₩ 385,544 | ₩ 447,555 |
Acquisition cost | |||
Disclosure of quantitative information about right-of-use assets [Line Items] | |||
Net carrying value | 676,184 | 681,465 | |
Accumulated depreciation | |||
Disclosure of quantitative information about right-of-use assets [Line Items] | |||
Net carrying value | (311,101) | (295,921) | |
Building | |||
Disclosure of quantitative information about right-of-use assets [Line Items] | |||
Net carrying value | 349,494 | 367,480 | 435,132 |
Building | Acquisition cost | |||
Disclosure of quantitative information about right-of-use assets [Line Items] | |||
Net carrying value | 643,484 | 650,906 | |
Building | Accumulated depreciation | |||
Disclosure of quantitative information about right-of-use assets [Line Items] | |||
Net carrying value | (293,990) | (283,426) | |
Equipment and vehicles | |||
Disclosure of quantitative information about right-of-use assets [Line Items] | |||
Net carrying value | 15,589 | 18,064 | ₩ 12,423 |
Equipment and vehicles | Acquisition cost | |||
Disclosure of quantitative information about right-of-use assets [Line Items] | |||
Net carrying value | 32,700 | 30,559 | |
Equipment and vehicles | Accumulated depreciation | |||
Disclosure of quantitative information about right-of-use assets [Line Items] | |||
Net carrying value | ₩ (17,111) | ₩ (12,495) |
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, 2022 | Dec. 31, 2021 | |
Reconciliation of changes in right-of-use assets [Abstract] | ||
Beginning balance | ₩ 385,544 | ₩ 447,555 |
Changes in right-of-use assets [Abstract] | ||
New contracts | 235,215 | 189,660 |
Changes in contract | 3,488 | 9,289 |
Termination | (44,467) | (48,305) |
Depreciation | (222,581) | (239,068) |
Business combination | 819 | 0 |
Others | 7,065 | 26,413 |
Ending balance | 365,083 | 385,544 |
Building | ||
Reconciliation of changes in right-of-use assets [Abstract] | ||
Beginning balance | 367,480 | 435,132 |
Changes in right-of-use assets [Abstract] | ||
New contracts | 225,396 | 172,812 |
Changes in contract | 3,514 | 9,064 |
Termination | (43,597) | (46,563) |
Depreciation | (211,175) | (228,403) |
Business combination | 819 | 0 |
Others | 7,057 | 25,438 |
Ending balance | 349,494 | 367,480 |
Equipment and vehicles | ||
Reconciliation of changes in right-of-use assets [Abstract] | ||
Beginning balance | 18,064 | 12,423 |
Changes in right-of-use assets [Abstract] | ||
New contracts | 9,819 | 16,848 |
Changes in contract | (26) | 225 |
Termination | (870) | (1,742) |
Depreciation | (11,406) | (10,665) |
Business combination | 0 | 0 |
Others | 8 | 975 |
Ending balance | ₩ 15,589 | ₩ 18,064 |
Intangible Assets - Details Of
Intangible Assets - Details Of Intangible Assets (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2020 KRW (₩) | Dec. 31, 2019 KRW (₩) |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | ₩ 849,114 | $ 673,793 | ₩ 785,386 | ₩ 792,077 | ₩ 844,110 |
Acquisition cost | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | 2,447,551 | 2,225,702 | |||
Accumulated amortization | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | (1,561,571) | (1,403,415) | |||
Accumulated impairment losses | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | (36,866) | (36,901) | |||
Goodwill | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | 397,527 | 345,449 | 334,290 | 350,682 | |
Goodwill | Acquisition cost | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | 397,527 | 345,449 | |||
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 | 643 | 723 | 709 | 692 | |
Industrial property rights | Acquisition cost | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | 2,219 | 2,057 | |||
Industrial property rights | Accumulated amortization | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | (1,576) | (1,334) | |||
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 | 212,627 | 207,708 | 208,873 | 225,193 | |
Development costs | Acquisition cost | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | 754,031 | 661,959 | |||
Development costs | Accumulated amortization | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | (541,404) | (454,251) | |||
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 | 192,373 | 193,182 | 205,445 | 234,147 | |
Other intangible assets | Acquisition cost | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | 1,244,516 | 1,174,565 | |||
Other intangible assets | Accumulated amortization | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | (1,018,591) | (947,830) | |||
Other intangible assets | Accumulated impairment losses | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | (33,552) | (33,553) | |||
Membership deposit | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | 42,917 | 37,607 | 36,091 | 29,330 | |
Membership deposit | Acquisition cost | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | 46,231 | 40,955 | |||
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 | (3,314) | (3,348) | |||
Construction in progress | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | 3,027 | 717 | ₩ 6,669 | ₩ 4,066 | |
Construction in progress | Acquisition cost | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Net carrying value | 3,027 | 717 | |||
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, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2020 KRW (₩) | ||||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||||||
Beginning balance | ₩ 785,386 | ₩ 792,077 | ₩ 844,110 | ||||
Changes in intangible assets and goodwill [abstract] | |||||||
Acquisitions | 163,219 | 127,242 | 103,215 | ||||
Disposal | (1,297) | (347) | (782) | ||||
Amortization | (162,835) | [1] | (149,311) | [2] | (136,658) | [3] | |
Impairment losses | 88 | (111) | (7,791) | ||||
Transfer | 0 | 0 | 0 | ||||
Foreign currencies translation adjustments | (6,557) | 14,343 | (17,027) | ||||
Business combination | 65,465 | 8,681 | |||||
Others | 5,645 | 1,493 | (1,671) | ||||
Ending balance | 849,114 | $ 673,793 | 785,386 | 792,077 | |||
Amortization of other intangible assets included in other operating expenses | 14,664 | 13,963 | 11,890 | ||||
Goodwill | |||||||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||||||
Beginning balance | 345,449 | 334,290 | 350,682 | ||||
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 | (5,592) | 11,159 | (14,802) | ||||
Business combination | 57,670 | 0 | |||||
Others | 0 | 0 | (1,590) | ||||
Ending balance | 397,527 | 345,449 | 334,290 | ||||
Industrial property rights | |||||||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||||||
Beginning balance | 723 | 709 | 692 | ||||
Changes in intangible assets and goodwill [abstract] | |||||||
Acquisitions | 162 | 247 | 233 | ||||
Disposal | 0 | 0 | 0 | ||||
Amortization | (242) | [1] | (233) | [2] | (216) | [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 | 643 | 723 | 709 | ||||
Development costs | |||||||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||||||
Beginning balance | 207,708 | 208,873 | 225,193 | ||||
Changes in intangible assets and goodwill [abstract] | |||||||
Acquisitions | 91,992 | 74,444 | 53,273 | ||||
Disposal | 0 | 0 | 0 | ||||
Amortization | (87,294) | [1] | (80,128) | [2] | (71,620) | [3] | |
Impairment losses | 0 | 0 | 0 | ||||
Transfer | 300 | 4,518 | 428 | ||||
Foreign currencies translation adjustments | (5) | 0 | 0 | ||||
Business combination | 0 | 2,403 | |||||
Others | (74) | 1 | (804) | ||||
Ending balance | 212,627 | 207,708 | 208,873 | ||||
Other intangible assets | |||||||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||||||
Beginning balance | 193,182 | 205,445 | 234,147 | ||||
Changes in intangible assets and goodwill [abstract] | |||||||
Acquisitions | 62,073 | 49,137 | 41,329 | ||||
Disposal | (2) | 0 | 0 | ||||
Amortization | (75,299) | [1] | (68,950) | [2] | (64,822) | [3] | |
Impairment losses | 0 | (18) | (7,692) | ||||
Transfer | 182 | 2,946 | 164 | ||||
Foreign currencies translation adjustments | (865) | 2,952 | (2,208) | ||||
Business combination | 7,795 | 4,199 | |||||
Others | 5,307 | 1,670 | 328 | ||||
Ending balance | 192,373 | 193,182 | 205,445 | ||||
Membership deposit | |||||||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||||||
Beginning balance | 37,607 | 36,091 | 29,330 | ||||
Changes in intangible assets and goodwill [abstract] | |||||||
Acquisitions | 6,571 | 2,437 | 5,183 | ||||
Disposal | (1,295) | (347) | (782) | ||||
Amortization | 0 | [1] | 0 | [2] | 0 | [3] | |
Impairment losses | 88 | (93) | (99) | ||||
Transfer | 0 | 0 | 0 | ||||
Foreign currencies translation adjustments | (42) | 232 | (15) | ||||
Business combination | 0 | 2,079 | |||||
Others | (12) | (713) | 395 | ||||
Ending balance | 42,917 | 37,607 | 36,091 | ||||
Construction in progress | |||||||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||||||
Beginning balance | 717 | 6,669 | 4,066 | ||||
Changes in intangible assets and goodwill [abstract] | |||||||
Acquisitions | 2,421 | 977 | 3,197 | ||||
Disposal | 0 | 0 | 0 | ||||
Amortization | 0 | [1] | 0 | [2] | 0 | [3] | |
Impairment losses | 0 | 0 | 0 | ||||
Transfer | (482) | (7,464) | (592) | ||||
Foreign currencies translation adjustments | (53) | 0 | (2) | ||||
Business combination | 0 | 0 | |||||
Others | 424 | 535 | 0 | ||||
Ending balance | ₩ 3,027 | ₩ 717 | ₩ 6,669 | ||||
[1]Amortization of other intangible assets amounting to 14,664 million W W |
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, 2022 | Dec. 31, 2021 | ||
Disclosure of information for cash-generating units [Line Items] | |||
Goodwill | [1] | ₩ 397,527 | ₩ 345,449 |
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 informationrelated 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. | ||
Woori Asset Management Corp. | |||
Disclosure of information for cash-generating units [Line Items] | |||
Goodwill | [1] | ₩ 43,036 | 43,036 |
Discount rate | 13.36% | ||
Terminal growth rate | 1% | ||
Recoverable amount | ₩ 162,772 | ||
Carrying amount | 134,073 | ||
Woori Global Asset Management Co., Ltd. | |||
Disclosure of information for cash-generating units [Line Items] | |||
Goodwill | [1] | ₩ 2,030 | 2,030 |
Discount rate | 13.47% | ||
Terminal growth rate | 1% | ||
Recoverable amount | ₩ 42,083 | ||
Carrying amount | 29,917 | ||
Woori Asset Trust Co., Ltd. | |||
Disclosure of information for cash-generating units [Line Items] | |||
Goodwill | [1] | ₩ 141,780 | 141,780 |
Discount rate | 14.55% | ||
Terminal growth rate | 1% | ||
Recoverable amount | ₩ 431,777 | ||
Carrying amount | 300,023 | ||
PT Bank Woori Saudara Indonesia 1906 Tbk | |||
Disclosure of information for cash-generating units [Line Items] | |||
Goodwill | [1],[2] | ₩ 97,029 | 99,667 |
Discount rate | 15.98% | ||
Terminal growth rate | 0% | ||
Recoverable amount | ₩ 784,787 | ||
Carrying amount | 739,878 | ||
WOORI BANK (CAMBODIA) PLC | |||
Disclosure of information for cash-generating units [Line Items] | |||
Goodwill | [1],[3] | ₩ 55,570 | 52,082 |
WB Finance Co., Ltd. | |||
Disclosure of information for cash-generating units [Line Items] | |||
Discount rate | 16.88% | ||
Terminal growth rate | 0% | ||
Recoverable amount | ₩ 544,693 | ||
Carrying amount | 499,823 | ||
PT Woori Finance Indonesia Tbk. | |||
Disclosure of information for cash-generating units [Line Items] | |||
Goodwill | [1] | 51,382 | 0 |
Others | |||
Disclosure of information for cash-generating units [Line Items] | |||
Goodwill | [1] | ₩ 6,700 | ₩ 6,854 |
[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. |
Intangible Assets - Sensitivity
Intangible Assets - Sensitivity Analysis For Cash Generating Units (Details) ₩ in Millions | Dec. 31, 2022 KRW (₩) | |
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 | ₩ (39,501) | |
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 | 48,345 | |
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 | 30,344 | |
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 | (25,010) | [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 | (8,680) | |
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 | 10,686 | |
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 | 6,699 | |
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 | (5,464) | [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 | (2,553) | |
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 | 3,169 | |
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 | 2,034 | |
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 | (1,650) | [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 | (61,030) | |
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 | 71,658 | |
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 | 43,855 | |
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] |
WB Finance 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 | (38,845) | |
WB Finance 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 | 45,066 | |
WB Finance 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 | 26,515 | |
WB Finance 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 | ₩ 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, 2022 KRW (₩) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2022 USD ($) | |
Assets or disposal groups classified as held for sale [Line Items] | |||
Total | ₩ 13,772 | ₩ 26,327 | $ 10,929 |
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 year 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. On the other hand, other assets that are expected to be sold as of the end of the current year 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 year 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. On the other hand, other assets that are expected to be sold as of the end of the current year 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 | ₩ 9,589 | ₩ 8,900 | |
Investments of associates | |||
Assets or disposal groups classified as held for sale [Line Items] | |||
Total | 0 | 11,472 | |
Others | |||
Assets or disposal groups classified as held for sale [Line Items] | |||
Total | ₩ 4,183 | ₩ 5,955 |
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, 2022 | Dec. 31, 2021 | |||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 24,344,522 | ₩ 17,395,551 | ||
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, etc | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 198,377 | ₩ 248,009 | ||
Collateral given to | KOREA SECURITIES FINANCE CORPORATION, etc. | Nonghyup bank and others | ||
Reason for collateral | [1] | Related to bonds sold under repurchase agreements | Related to bonds sold under repurchase agreements | |
Korean treasury and government bonds | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 460 | ₩ 470 | ||
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 financial institutions' debt securities, etc | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 6,394,890 | ₩ 3,666,849 | ||
Collateral given to | The BOK, etc. | The BOK and others | ||
Reason for collateral | Settlement risk, etc. | Settlement risk and others | ||
Korean treasury and government bonds, etc | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 659,050 | ₩ 179,079 | ||
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 | ₩ 133,539 | ₩ 25,338 | ||
Collateral given to | The Korea Exchange, etc. | Samsung Securities Co., Ltd. and others | ||
Reason for collateral | Margin deposit for CCP | Margin deposit for futures or option | ||
Foreign financial institutions' debt securities | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 126,595 | |||
Collateral given to | STANDARD BANK LONDON LTD | |||
Reason for collateral | [1] | Related to bonds sold under repurchase agreements | ||
Korean treasury and government bonds, etc | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 6,939 | ₩ 3,008 | ||
Collateral given to | SHINHAN SECURITIES CO, etc. | VI Investment, etc. | ||
Reason for collateral | Future trading collateral | Future trading collateral | ||
Korean treasury and government bonds | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 1,100,351 | |||
Collateral given to | Korea Securities Depository | |||
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 | ₩ 38,995 | |||
Collateral given to | NATIXIS and others | |||
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 | |||
Collateral given to | FHLB ADVANCE and others | |||
Reason for collateral | 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 | ₩ 1,142,784 | ₩ 1,051,006 | ||
Collateral given to | Korea Investment & Securities, etc. | Yuanta Securities Korea Co., Ltd., etc. | ||
Reason for collateral | Overseas futures option deposit, etc. | Overseas futures option deposit, etc. | ||
Korean financial institutions' debt securities, etc | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 245,876 | ₩ 54,419 | ||
Collateral given to | SC FIRST BANK KOREA, SEOUL, etc. | KOREA SECURITIES FINANCE CORPORATION | ||
Reason for collateral | Variable margin deposit for CSA, etc. | Collateral for securities lending purposes | ||
Korean corporate bonds | ||||
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 | ₩ 1,892,723 | ₩ 2,494,333 | ||
Collateral given to | Public offering | Public offering | ||
Reason for collateral | Related to covered bonds | Related to covered bonds | ||
Korean capital contributions | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 104 | ₩ 101 | ||
Collateral given to | Korea Software Financial Cooperative | Korea Software Financial Cooperative | ||
Reason for collateral | Bid guarantee, etc. | Bid guarantee, etc. | ||
Korean financial institutions' debt securities, etc | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 16,200 | ₩ 5,352 | ||
Collateral given to | SHINHAN ASSET MANAGEMENT, etc. | Shinhan Investment Corp. | ||
Reason for collateral | Related to bonds sold under repurchase agreements | [1] | Collateral for futures transaction | |
Korean financial institutions' debt securities, etc | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 205,783 | |||
Collateral given to | Korea Securities Depository | |||
Reason for collateral | Securities borrowing collateral | |||
Investment Properties Land Building | ||||
Assets pledged as collateral [Line Items] | ||||
Collateral given to | Gakorea Co., Ltd., etc. | Credit Counselling & Recovery Service and others | ||
Reason for collateral | Right to collateral and others | [2] | Right to collateral and others | |
Property, plant and equipment, pledged as security | ₩ 5,365 | ₩ 5,520 | ||
Premises and Equipment Land and Buildings [Member] | ||||
Assets pledged as collateral [Line Items] | ||||
Collateral given to | Gakorea Co., Ltd , etc. | Credit Counselling & Recovery Service and others | ||
Reason for collateral | Right to collateral and others | [2] | Right to collateral and others | |
Property, plant and equipment, pledged as security | ₩ 1,851 | ₩ 1,910 | ||
Debt securities in foreign currencies | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 10,570 | |||
Collateral given to | FHLB ADVANCE, etc. | |||
Reason for collateral | Related to the borrowing limit | |||
Debt securities in foreign currencies | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 582,738 | |||
Collateral given to | SC BANK, H.K, etc. | |||
Reason for collateral | [1] | Related to bonds sold under repurchase agreements | ||
Debt securities in foreign currencies | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 1,060,120 | |||
Collateral given to | BNP-PARIBAS, etc. | |||
Reason for collateral | Variable margin deposit for CSA, etc. | |||
Korean treasury and government bonds | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 10,820,136 | ₩ 8,977,748 | ||
Collateral given to | The BOK, etc. | The BOK and others | ||
Reason for collateral | Settlement risk, etc. | Settlement risk and others | ||
Debt securities in foreign currencies | ||||
Assets pledged as collateral [Line Items] | ||||
Financial assets pledged as collateral for liabilities or contingent liabilities | ₩ 70,949 | |||
Collateral given to | NATIXIS, etc. | |||
Reason for collateral | [1] | Related to bonds sold under repurchase agreements | ||
[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.[2]The maximum pledge amount is 522 million Won. |
Assets subject to lien and as_4
Assets subject to lien and assets acquired through foreclosures - Assets subjected to lien (Parenthetical) (Details) ₩ in Millions | Dec. 31, 2022 KRW (₩) |
Disclosure Of Collateral [Abstract] | |
Threshold Limit Of Pledged Amount | ₩ 522 |
Assets subject to lien and as_5
Assets subject to lien and assets acquired through foreclosures - Carrying amounts of assets acquired through foreclosure (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | |
Investment properties | |||
Land | ₩ 6,404 | ₩ 2,185 | |
Building | 165 | 181 | |
Sub-total | 6,569 | 2,366 | |
Other assets | |||
Land for non-business use | 21,302 | 21,156 | |
Building for non-business use | [1] | 3,049 | 1,526 |
Movables for non-business use | [2] | 165 | 120 |
Real estate assessment provision for non-business use | (1,176) | (1,129) | |
Sub-total | 23,340 | 21,673 | |
Assets held for sale | |||
Land | 2,351 | 2,980 | |
Buildings | 1,832 | 2,557 | |
Others | 0 | 418 | |
Sub-total | 4,183 | 5,955 | |
Total | ₩ 34,092 | ₩ 29,994 | |
[1]The cumulative depreciation amount as of December 31, 2021 and 2022 is 716 million Won and 1,055 million Won, respectively.[2]The cumulative depreciation amount as of December 31, 2021 and 2022 is 907 million Won and 882 million Won, respectively. |
Assets subject to lien and as_6
Assets subject to lien and assets acquired through foreclosures - Carrying amounts of assets acquired through foreclosure (Parenthetical) (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Building For Nonbusiness Use [Member] | ||
Statement One [Line Items] | ||
Cumulative depreciation amount | ₩ 1,055 | ₩ 716 |
Movables For Nonbusiness Use [Member] | ||
Statement One [Line Items] | ||
Cumulative depreciation amount | ₩ 882 | ₩ 907 |
Assets subject to lien and as_7
Assets subject to lien and assets acquired through foreclosures - Details of securities loned (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of transferred financial assets that are not derecognised in their entirety [line items] | ||
Assets that entity continues to recognise | ₩ 1,969,075 | ₩ 414,069 |
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 | ₩ 98,027 | ₩ 98,535 |
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. As the Group does not derecognize these securities. | 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. As the Group does not derecognize these securities. |
Loaned to | Korea Securities Finance Corporation | Korea Securities Finance Corporation |
Assets subject to lien and as_8
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, 2022 | Dec. 31, 2021 |
Fair value of collateral available to sell or repledge and collateral sold or repledged [Line Items] | ||
Fair values of collaterals | ₩ 7,109,933 | ₩ 10,785,412 |
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, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) |
Other assests [Line Items] | |||
Total | ₩ 3,061,552 | $ 2,429,417 | ₩ 2,088,950 |
Lease assets | |||
Other assests [Line Items] | |||
Total | 2,593,578 | 1,782,887 | |
Prepaid expenses | |||
Other assests [Line Items] | |||
Total | 287,323 | 189,808 | |
Advance payments | |||
Other assests [Line Items] | |||
Total | 99,772 | 61,042 | |
Non-operational assets | |||
Other assests [Line Items] | |||
Total | 23,340 | 16,248 | |
Others | |||
Other assests [Line Items] | |||
Total | ₩ 57,539 | ₩ 38,965 |
Financial Liabilities at FVTP_2
Financial Liabilities at FVTPL - Summary Of Financial Liabilities At FVTPL (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) |
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 | ₩ 8,952,399 | ₩ 4,873,458 | |
Total | 8,952,399 | $ 7,103,951 | 4,873,458 |
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 | 8,952,399 | 4,873,458 | |
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 | 35,161 | 65,016 | |
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 | 12,113 | 241,174 | |
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 | ₩ 8,905,125 | ₩ 4,567,268 |
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, 2022 KRW (₩) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2022 USD ($) | |
Disclosure of deposits from customers [Line Items] | |||
Present value discount | ₩ (92,352) | ₩ (36,826) | |
Total | 342,105,209 | 317,899,871 | $ 271,468,980 |
Deposits in local currency | |||
Disclosure of deposits from customers [Line Items] | |||
Gross carrying amount | 295,931,200 | 280,292,797 | |
Deposits on demand | Gross carrying amount [member] | |||
Disclosure of deposits from customers [Line Items] | |||
Gross carrying amount | 15,627,300 | 18,029,136 | |
Deposits at termination | Gross carrying amount [member] | |||
Disclosure of deposits from customers [Line Items] | |||
Gross carrying amount | 270,092,855 | 254,319,473 | |
Mutual installment | Gross carrying amount [member] | |||
Disclosure of deposits from customers [Line Items] | |||
Gross carrying amount | 22,995 | 24,620 | |
Deposits on notes payables | Gross carrying amount [member] | |||
Disclosure of deposits from customers [Line Items] | |||
Gross carrying amount | 3,675,596 | 2,954,066 | |
Deposits on CMA | Gross carrying amount [member] | |||
Disclosure of deposits from customers [Line Items] | |||
Gross carrying amount | 60,079 | 92,360 | |
Certificate of deposits | Gross carrying amount [member] | |||
Disclosure of deposits from customers [Line Items] | |||
Gross carrying amount | 5,255,889 | 3,586,423 | |
Other deposits | Gross carrying amount [member] | |||
Disclosure of deposits from customers [Line Items] | |||
Gross carrying amount | 1,196,486 | 1,286,719 | |
Deposits in foreign currencies | |||
Disclosure of deposits from customers [Line Items] | |||
Gross carrying amount | 46,171,591 | 37,607,074 | |
Deposits in foreign currencies | Gross carrying amount [member] | |||
Disclosure of deposits from customers [Line Items] | |||
Gross carrying amount | 46,263,943 | 37,643,900 | |
Customers Deposits For Beneficiary [Member] | |||
Disclosure of deposits from customers [Line Items] | |||
Gross carrying amount | ₩ 2,418 | ₩ 0 |
Borrowings And Debentures - Det
Borrowings And Debentures - Details Of Borrowings (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2022 KRW (₩) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2022 USD ($) | |
Disclosure of detailed information about borrowings [line items] | |||
Total | ₩ 28,429,603 | ₩ 24,755,459 | $ 22,559,596 |
Fair value hedges [member] | Foreign currency borrowing [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Foreign currency borrowings subject to fair value hedges | 35,694 | ||
Present value discount | |||
Disclosure of detailed information about borrowings [line items] | |||
Notional Amount | (76,122) | (49,692) | |
Borrowings in local currency | |||
Disclosure of detailed information about borrowings [line items] | |||
Notional Amount | ₩ 14,624,008 | ₩ 15,183,026 | |
Borrowings from government funds | Minimum | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | 0% | 0% | 0% |
Borrowings from government funds | Maximum | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | 3.50% | 2.40% | 3.50% |
Borrowings from government funds | Total | |||
Disclosure of detailed information about borrowings [line items] | |||
Notional Amount | ₩ 2,021,049 | ₩ 2,053,611 | |
Lenders | Small Enterprise and Market Service and others | Small Enterprise and Market Service and others | |
Borrowings from The BOK | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | 0.30% | ||
Borrowings from The BOK | Minimum | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | 0.30% | 0.30% | |
Borrowings from The BOK | Maximum | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | 1.80% | 1.80% | |
Borrowings from The BOK | Total | |||
Disclosure of detailed information about borrowings [line items] | |||
Notional Amount | ₩ 3,040,877 | ₩ 3,144,897 | |
Lenders | The BOK | The BOK | |
Others | Minimum | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | 0% | 0% | 0% |
Others | Maximum | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | 6.70% | 3.10% | 6.70% |
Others | Total | |||
Disclosure of detailed information about borrowings [line items] | |||
Notional Amount | ₩ 9,562,082 | ₩ 9,984,518 | |
Lenders | The Korea Development Bank and others | The Korea Development Bank and others | |
Borrowings in foreign currencies | |||
Disclosure of detailed information about borrowings [line items] | |||
Lenders | The Export-Import Bank of Korea and others | JPMorgan Chase & Co. and others | |
Borrowings in foreign currencies | Minimum | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | (0.10%) | (0.50%) | (0.10%) |
Borrowings in foreign currencies | Maximum | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | 10.60% | 7.30% | 10.60% |
Borrowings in foreign currencies | Total | |||
Disclosure of detailed information about borrowings [line items] | |||
Notional Amount | ₩ 11,161,294 | ₩ 8,545,077 | |
Call money | Minimum | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | 1.60% | (0.50%) | 1.60% |
Call money | Maximum | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | 5.50% | 2.60% | 5.50% |
Call money | Total | |||
Disclosure of detailed information about borrowings [line items] | |||
Notional Amount | ₩ 400,071 | ₩ 317,961 | |
Lenders | Bank and others | Bank and others | |
Bills sold | Minimum | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | 0% | 0% | 0% |
Bills sold | Maximum | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | 2.40% | 1.30% | 2.40% |
Bills sold | Total | |||
Disclosure of detailed information about borrowings [line items] | |||
Notional Amount | ₩ 7,308 | ₩ 9,111 | |
Lenders | Others | Others | |
Bonds sold under repurchase agreements | Minimum | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | 0.20% | (0.50%) | 0.20% |
Bonds sold under repurchase agreements | Maximum | |||
Disclosure of detailed information about borrowings [line items] | |||
Interest rate | 6.40% | 10.60% | 6.40% |
Bonds sold under repurchase agreements | Total | |||
Disclosure of detailed information about borrowings [line items] | |||
Notional Amount | ₩ 2,313,044 | ₩ 749,976 | |
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, 2022 KRW (₩) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2022 USD ($) | ||
Disclosure of detailed information about debentures [Line Items] | ||||
Gross carrying amount | [1] | ₩ 44,239,023 | ₩ 44,683,574 | |
Discounts on bonds | [1] | (40,537) | (29,710) | |
Total | 44,198,486 | 44,653,864 | $ 35,072,597 | |
Fair value hedged amount of debentures | 3,076,983 | 2,366,724 | ||
Cash flow hedged amount of debentures | 1,324,812 | 819,298 | ||
Ordinary bonds | Gross carrying amount [Member] | ||||
Disclosure of detailed information about debentures [Line Items] | ||||
Gross carrying amount | [1] | ₩ 37,132,334 | ₩ 37,004,942 | |
Ordinary bonds | Gross carrying amount [Member] | Bottom of range [Member] | ||||
Disclosure of detailed information about debentures [Line Items] | ||||
Interest rate | [1] | 0.80% | 0.70% | |
Ordinary bonds | Gross carrying amount [Member] | Top of range [Member] | ||||
Disclosure of detailed information about debentures [Line Items] | ||||
Interest rate | [1] | 7.50% | 3.60% | |
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% | 5.10% | |
Subordinated bonds | Gross carrying amount [Member] | ||||
Disclosure of detailed information about debentures [Line Items] | ||||
Gross carrying amount | [1] | ₩ 5,835,325 | ₩ 6,767,442 | |
Other bonds | Bottom of range [Member] | ||||
Disclosure of detailed information about debentures [Line Items] | ||||
Interest rate | [1] | 0.80% | 0.80% | |
Other bonds | Top of range [Member] | ||||
Disclosure of detailed information about debentures [Line Items] | ||||
Interest rate | [1] | 17% | 17% | |
Other bonds | Gross carrying amount [Member] | ||||
Disclosure of detailed information about debentures [Line Items] | ||||
Gross carrying amount | [1] | ₩ 1,271,364 | ₩ 911,190 | |
[1]Included debentures under fair value hedge amounting to and 2,366,724 million W W W W |
Provisions - Summary Of Details
Provisions - Summary Of Details Of Provisions (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | |
Disclosure of other provisions [line items] | ||||
Provisions | ₩ 545,865 | $ 433,158 | ₩ 576,134 | |
Asset retirement obligation | ||||
Disclosure of other provisions [line items] | ||||
Provisions | 82,717 | 80,777 | ||
Provision for guarantees | ||||
Disclosure of other provisions [line items] | ||||
Provisions | [1] | 76,508 | 74,866 | |
Provision for financial guarantee contract | 47,969 | 53,321 | ||
Provisions for unused loan commitments | ||||
Disclosure of other provisions [line items] | ||||
Provisions | 106,033 | 112,296 | ||
Other provisions | ||||
Disclosure of other provisions [line items] | ||||
Provisions | [2] | ₩ 280,607 | ₩ 308,195 | |
[1]Provisions for guarantees includes provision for financial guarantee of 53,321 million W W |
Provisions - Summary Of Changes
Provisions - Summary Of Changes In Provisions On Guarantees (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Reconciliation of changes in provisions for payment guarantee [Abstract] | ||||
Beginning balance | ₩ 74,866 | ₩ 89,592 | ₩ 92,486 | |
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 | 0 | (6,964) | ||
Net provision (reversal) of unused amount | 7,611 | (10,701) | (18,348) | |
Changes due to business combinations | 14,501 | |||
Others | [1] | (5,969) | 2,939 | 953 |
Ending balance | 76,508 | 74,866 | 89,592 | |
Stage 1 | ||||
Reconciliation of changes in provisions for payment guarantee [Abstract] | ||||
Beginning balance | 52,830 | 64,804 | 50,801 | |
Changes in provisions for payment guarantee [Abstract] | ||||
Transfer to 12-month expected credit loss | 1,206 | 2,146 | 81 | |
Transfer to expected credit loss for the entire period | (119) | (162) | (396) | |
Transfer to credit-impaired financial assets | (3) | (3) | (12) | |
Provisions used | 0 | (6,964) | ||
Net provision (reversal) of unused amount | (3,449) | (9,929) | (1,124) | |
Changes due to business combinations | 14,501 | |||
Others | [1] | (5,969) | 2,938 | 953 |
Ending balance | 44,496 | 52,830 | 64,804 | |
Stage 2 | ||||
Reconciliation of changes in provisions for payment guarantee [Abstract] | ||||
Beginning balance | 15,269 | 16,745 | 26,303 | |
Changes in provisions for payment guarantee [Abstract] | ||||
Transfer to 12-month expected credit loss | (1,206) | (2,144) | (60) | |
Transfer to expected credit loss for the entire period | 119 | 193 | 1,639 | |
Transfer to credit-impaired financial assets | (338) | (162) | (13) | |
Provisions used | 0 | 0 | ||
Net provision (reversal) of unused amount | 10,483 | 636 | (11,124) | |
Changes due to business combinations | 0 | |||
Others | [1] | 0 | 1 | 0 |
Ending balance | 24,327 | 15,269 | 16,745 | |
Stage 3 | ||||
Reconciliation of changes in provisions for payment guarantee [Abstract] | ||||
Beginning balance | 6,767 | 8,043 | 15,382 | |
Changes in provisions for payment guarantee [Abstract] | ||||
Transfer to 12-month expected credit loss | 0 | (2) | (21) | |
Transfer to expected credit loss for the entire period | 0 | (31) | (1,243) | |
Transfer to credit-impaired financial assets | 341 | 165 | 25 | |
Provisions used | 0 | 0 | ||
Net provision (reversal) of unused amount | 577 | (1,408) | (6,100) | |
Changes due to business combinations | 0 | |||
Others | [1] | 0 | 0 | 0 |
Ending balance | ₩ 7,685 | ₩ 6,767 | ₩ 8,043 | |
[1]Recognized 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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Reconciliation of changes in provisions for credit commitment [Abstract] | ||||
Beginning balance | ₩ 112,296 | ₩ 122,155 | ₩ 112,554 | |
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 | (6,332) | (9,991) | 9,874 | |
Changes due to business combinations | 7 | |||
Others | 69 | 132 | (280) | |
Ending balance | 106,033 | [1] | 112,296 | 122,155 |
Stage 1 | ||||
Reconciliation of changes in provisions for credit commitment [Abstract] | ||||
Beginning balance | 67,440 | 63,240 | 65,038 | |
Changes in provisions for credit commitment [Abstract] | ||||
Transfer to 12-month expected credit loss | 14,349 | 15,522 | 8,006 | |
Transfer to expected credit loss for the entire period | (2,619) | (2,338) | (2,704) | |
Transfer to credit-impaired financial assets | (197) | (110) | (174) | |
Net provision for (reversal of) unused amount | (11,402) | (9,005) | (6,653) | |
Changes due to business combinations | 7 | |||
Others | 69 | 131 | (280) | |
Ending balance | 67,640 | [1] | 67,440 | 63,240 |
Stage 2 | ||||
Reconciliation of changes in provisions for credit commitment [Abstract] | ||||
Beginning balance | 44,536 | 55,726 | 43,164 | |
Changes in provisions for credit commitment [Abstract] | ||||
Transfer to 12-month expected credit loss | (14,217) | (14,965) | (7,500) | |
Transfer to expected credit loss for the entire period | 2,648 | 3,129 | 3,299 | |
Transfer to credit-impaired financial assets | (306) | (226) | (186) | |
Net provision for (reversal of) unused amount | 5,527 | 871 | 16,949 | |
Changes due to business combinations | 0 | |||
Others | 0 | 1 | 0 | |
Ending balance | 38,188 | [1] | 44,536 | 55,726 |
Stage 3 | ||||
Reconciliation of changes in provisions for credit commitment [Abstract] | ||||
Beginning balance | 320 | 3,189 | 4,352 | |
Changes in provisions for credit commitment [Abstract] | ||||
Transfer to 12-month expected credit loss | (132) | (557) | (506) | |
Transfer to expected credit loss for the entire period | (29) | (791) | (595) | |
Transfer to credit-impaired financial assets | 503 | 336 | 360 | |
Net provision for (reversal of) unused amount | (457) | (1,857) | (422) | |
Changes due to business combinations | 0 | |||
Others | 0 | 0 | 0 | |
Ending balance | ₩ 205 | [1] | ₩ 320 | ₩ 3,189 |
[1]Recognized as a result of new financial guarantee contract valued at initial fair value. |
Provisions - Summary Of Chang_3
Provisions - Summary Of Changes In Asset Retirement Obligation (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Reconciliation of changes in provision for decommissioning restoration and rehabilitation costs [Abstract] | |||
Beginning balance | ₩ 80,777 | ₩ 68,402 | ₩ 66,485 |
Changes in provision for decommissioning restoration and rehabilitation costs [Abstract] | |||
Provisions provided | 4,082 | 3,235 | 806 |
Provisions used | (7,400) | (5,066) | (2,958) |
Reversal of provisions unused | (21) | (947) | (106) |
Unwinding of discount | 909 | 495 | 459 |
Business combination | 0 | 0 | 219 |
Increase (decrease) of restoration expense, etc. | 4,370 | 14,658 | 3,497 |
Ending balance | ₩ 82,717 | ₩ 80,777 | ₩ 68,402 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Reconciliation of changes in other provisions [abstract] | ||||
Beginning balance | ₩ 308,195 | ₩ 221,494 | ₩ 172,455 | |
Changes in other provisions [abstract] | ||||
Provisions provided | 36,284 | 85,706 | 232,629 | |
Provisions used | (8,540) | (10,375) | (181,433) | |
Reversal of provisions unused | [1] | (54,893) | (718) | (2,345) |
Foreign currencies translation adjustments | (621) | 11,957 | 606 | |
Transfer | 0 | 0 | (344) | |
Others | 182 | 131 | (74) | |
Ending balance | ₩ 280,607 | ₩ 308,195 | ₩ 221,494 | |
[1]The Group provided Korean won settlement services for trading transaction settlement between Korea and Iran, investigated by U.S. prosecutors (federal prosecutors, New York state prosecutors) and New York State Department of Financial Services for violations of U.S. sanctions against Iran, Sudan, Syria and Cuba. In this regard, the Office of Foreign Assets Control concluded its investigation in December 2020 urging the bank’s attention without taking any additional sanctions, and New York State Department of Financial Services concluded its investigation in February 2022 without taking any additional sanctions. Meanwhile, in June 2022, the Group reversed the provision related to the investigation of the U.S. Prosecutors, which have not been completed yet, in consideration of the opinion of an independent legal expert that the probability of sanctions by the U.S. Prosecutors in this case is low. |
Provisions - Others (Details)
Provisions - Others (Details) ₩ in Millions | 12 Months Ended |
Dec. 31, 2022 KRW (₩) | |
Statement [Line Items] | |
Asset recognised for expected reimbursement, other provisions | ₩ 122,100 |
Platform Asia [Member] | |
Statement [Line Items] | |
Provision used | 85 |
New provisions | 35.7 |
Heritage DLS [Member] | |
Statement [Line Items] | |
Provision used | 22.3 |
New provisions | 22.3 |
Gen2 DLS [Member] | |
Statement [Line Items] | |
Provision used | 90.2 |
New provisions | ₩ 12.6 |
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, 2022 KRW (₩) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2022 USD ($) | |
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 | ₩ 1,377,545 | ₩ 1,618,098 | |
Fair value of plan assets | (1,661,623) | (1,591,458) | |
Net defined benefit liability | (284,078) | 26,640 | |
Net defined benefit asset | 319,280 | 21,346 | $ 253,356 |
Net defined benefit liability | ₩ 35,202 | ₩ 47,986 | $ 27,934 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Disclosure of net defined benefit liability (asset) [line items] | ||||
Beginning balance | ₩ 26,640 | |||
Changes in net defined benefit liability (asset) [abstract] | ||||
Current service cost | 166,741 | ₩ 178,416 | ₩ 174,509 | |
Interest cost | (1,678) | (1,113) | 119 | |
Remeasurements | [1] | (342,096) | (89,751) | (13,492) |
Changes due to business combinations | 0 | 0 | 34,001 | |
Ending balance | (284,078) | 26,640 | ||
Present value of defined benefit obligation | ||||
Disclosure of net defined benefit liability (asset) [line items] | ||||
Beginning balance | 1,618,098 | 1,610,680 | 1,442,859 | |
Changes in net defined benefit liability (asset) [abstract] | ||||
Current service cost | 166,741 | 178,416 | 174,509 | |
Interest cost | 48,238 | 39,814 | 34,653 | |
Financial assumptions | (356,344) | (92,367) | (20,838) | |
Demographic assumptions | (9) | (251) | 4,161 | |
Experience adjustments | (3,838) | (12,155) | (4,481) | |
Retirement benefit paid | (92,914) | (106,050) | (55,864) | |
Foreign currencies translation adjustments | (69) | 165 | (119) | |
Others | (2,358) | (154) | 1,799 | |
Ending balance | 1,377,545 | 1,618,098 | 1,610,680 | |
Plan assets [member] | ||||
Disclosure of net defined benefit liability (asset) [line items] | ||||
Beginning balance | 1,591,458 | 1,564,101 | 1,352,971 | |
Changes in net defined benefit liability (asset) [abstract] | ||||
Interest cost | 49,916 | 40,927 | 34,534 | |
Financial assumptions | (18,095) | (15,022) | (7,666) | |
Employer's contributions | 127,979 | 103,251 | 211,505 | |
Retirement benefit paid | (87,472) | (99,523) | (52,627) | |
Changes due to business combinations | 0 | 0 | 27,599 | |
Others | (2,163) | (2,276) | (2,215) | |
Ending balance | ₩ 1,661,623 | ₩ 1,591,458 | ₩ 1,564,101 | |
[1]Retirement benefits related to defined contribution plans recognized as expenses are 3,827 million won, 4,494 million won and 4,240 million won for the years ended December 31, 2020, 2021 and 2022, respectively. |
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, 2022 | Dec. 31, 2021 | |
Disclosure of fair value of plan assets [abstract] | ||
Cash and due from banks | ₩ 1,661,623 | ₩ 1,591,458 |
Return on plan assets, net defined benefit liability (asset) | 31,821 | ₩ 25,905 |
Estimate of contributions expected to be paid to plan | ₩ 123,043 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Disclosure of postemployment benefits expense recognized in net income and total comprehensive income [Abstract] | ||||
Current service cost | ₩ 166,741 | ₩ 178,416 | ₩ 174,509 | |
Net interest income (expense) | (1,678) | (1,113) | 119 | |
Cost recognized in net income | 165,063 | 177,303 | 174,628 | |
Remeasurements | [1] | (342,096) | (89,751) | (13,492) |
Cost recognized in total comprehensive income | (177,033) | 87,552 | 161,136 | |
Retirement benefit service costs defined contribution plans | ₩ 4,240 | ₩ 4,494 | ₩ 3,827 | |
[1]Retirement benefits related to defined contribution plans recognized as expenses are 3,827 million won, 4,494 million won and 4,240 million won for the years ended December 31, 2020, 2021 and 2022, respectively. |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
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 5.38 to a maximum 10.71 years. | The weighted average maturity of defined benefit liability is a minimum of 5.38 to a maximum 10.71 years. | The weighted average maturity of defined benefit liability is a minimum of 5.38 to a maximum 10.71 years. |
Bottom of range [Member] | |||
Disclosure of actuarial assumptions [Line Items] | |||
Discount rate | 5.25% | 2.40% | 2.13% |
Future wage growth rate | 2.10% | 2.03% | 2.05% |
Top of range [Member] | |||
Disclosure of actuarial assumptions [Line Items] | |||
Discount rate | 5.99% | 3.49% | 2.97% |
Future wage growth rate | 5.84% | 5.56% | 7% |
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, 2022 | Dec. 31, 2021 |
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 | ₩ (146,319) | ₩ (161,428) |
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 | 170,529 | 189,630 |
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 | 174,546 | 188,392 |
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 | ₩ (153,712) | ₩ (163,431) |
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, 2022 KRW (₩) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2022 USD ($) | |
Other financial liabilities and other liabilities [Line Items] | |||
Present value discount | ₩ (20,451) | ₩ (15,322) | |
Total of other financial liabilities | 22,811,868 | 24,233,226 | $ 18,101,783 |
Other liabilities | 690,157 | 556,853 | $ 547,657 |
Total of other financial liabilities and other liabilities | 23,502,025 | 24,790,079 | |
Accounts payable | Gross carrying amount [member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Gross carrying amount | 6,001,858 | 7,031,366 | |
Accrued expenses | Gross carrying amount [member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Gross carrying amount | 3,219,349 | 2,070,639 | |
Borrowings from trust accounts | Gross carrying amount [member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Gross carrying amount | 3,475,118 | 3,107,456 | |
Agency business revenue | Gross carrying amount [member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Gross carrying amount | 213,845 | 433,041 | |
Foreign exchange payables | Gross carrying amount [member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Gross carrying amount | 822,446 | 782,176 | |
Domestic exchange settlement credits | Gross carrying amount [member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Gross carrying amount | 4,631,921 | 6,708,220 | |
Lease liabilities | Gross carrying amount [member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Gross carrying amount | 319,161 | 343,213 | |
Other miscellaneous financial liabilities | Gross carrying amount [member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Gross carrying amount | 4,148,621 | 3,772,437 | |
Unearned Income | Gross carrying amount [member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Other liabilities | 351,633 | 291,147 | |
Other miscellaneous liabilities | Gross carrying amount [member] | |||
Other financial liabilities and other liabilities [Line Items] | |||
Other liabilities | ₩ 338,524 | ₩ 265,706 |
Derivatives - Summary Of Deriva
Derivatives - Summary Of Derivative Assets And Derivative Liabilities (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2022 KRW (₩) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2022 USD ($) | |
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | ₩ 389,338,520 | ₩ 390,720,160 | |
Derivative assets (Designated for hedging) | 37,786 | 106,764 | $ 29,984 |
Derivative liabilities for hedging | ₩ 202,911 | ₩ 27,584 | $ 161,015 |
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) | ₩ 0 | ₩ 95,103 | |
Derivative liabilities for hedging | 193,831 | 20,287 | |
For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets (Designated for hedging) | 37,786 | 11,661 | |
Derivative liabilities for hedging | 9,080 | 7,297 | |
For trading | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets for trading | 8,206,181 | 4,803,131 | |
Derivative liabilities for trading | 8,905,125 | 4,567,268 | |
Interest rate futures | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | 42,545 | 118,423 | |
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 | 2,620,000 | 340,000 | |
Interest rate 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 | |
Interest rate 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 | |
Interest rate forwards | For trading | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets for trading | 249,356 | 16,434 | |
Derivative liabilities for trading | 0 | 0 | |
Interest rate swap | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | 136,550,518 | 134,196,188 | |
Interest rate swap | For fair value hedging | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets (Designated for hedging) | 0 | 95,103 | |
Derivative liabilities for hedging | 193,831 | 20,287 | |
Interest rate swap | For cash flow hedging | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets (Designated for hedging) | 2,041 | 351 | |
Derivative liabilities for hedging | 0 | 0 | |
Interest rate swap | For trading | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets for trading | 440,540 | 136,185 | |
Derivative liabilities for trading | 474,158 | 305,443 | |
Interest rate options | Long [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | 170,000 | 170,000 | |
Interest rate options | Short [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | 310,000 | 340,000 | |
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 | 9,308 | 3,959 | |
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 | 16,752 | 8,552 | |
Currency futures | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | 51,136 | 7,445 | |
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 | 90,134,257 | 114,072,910 | |
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 | 3,083,082 | 2,466,893 | |
Derivative liabilities for trading | 1,360,535 | 993,823 | |
Currency swap | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | 97,197,309 | 101,117,559 | |
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) | 35,745 | 11,310 | |
Derivative liabilities for hedging | 9,080 | 7,297 | |
Currency swap | For trading | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Derivative assets for trading | 3,105,901 | 1,444,634 | |
Derivative liabilities for trading | 5,500,970 | 2,345,735 | |
Foreign Exchange Option | Long [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | 487,852 | 1,079,610 | |
Foreign Exchange Option | Short [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | 570,982 | 1,686,787 | |
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 | 23,182 | 10,968 | |
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 | 7,929 | 8,952 | |
Equity futures | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | 958,589 | 337,916 | |
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 | 183 | 233 | |
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 | 100 | 64 | |
Derivative liabilities for trading | 0 | 0 | |
Equity swap | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | 568,835 | 642,963 | |
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 | 90,237 | 27,031 | |
Derivative liabilities for trading | 673 | 3,784 | |
Equity options | Long [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | 29,801,478 | 17,503,553 | |
Equity options | Short [Member] | |||
Disclosure of detailed information about hedging instruments [line items] | |||
Nominal amount | 29,874,836 | 19,106,573 | |
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 | 1,204,475 | 696,963 | |
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 | ₩ 1,544,108 | ₩ 900,979 |
Derivatives - Summary Of Overvi
Derivatives - Summary Of Overview Of The Group's Hedge Accounting (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | 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 3M LIBOR, Compounding SOFR, AUD 3M BBSW, and CD 3M. | |
Description of the nominal amounts of hedging instruments related to the hedging relationships | The nominal amounts of hedging instruments related to USD 3M LIBOR, Compounding SOFR, AUD 3M BBSW, and CD 3M in the hedging relationships of the Group are USD 2,120,000,000, USD 525,000,000, AUD 150,000,000, and 150,000 million Won, 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. | |
Foreign currency bond [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Foreign currency bond | $ 864,390,437 | |
Fair value hedges [member] | ||
Disclosure of detailed information about hedges [line items] | ||
Description of type of hedge | As of December 31, 2022, the Group has applied fair value hedge on fixed interest rate foreign currency denominated debentures amounting to 2,928,127 million Won, and foreign currency loans amounting to 148,856 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. 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. | |
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, 2022, the Group has applied cash flow hedge on local currency denominated debentures amounting to 229,892 million Won and debentures on foreign currency amounting to 1,094,920 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 fromvariable 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. |
Derivatives - Summary Of The No
Derivatives - Summary Of The Nominal Amounts And The Average Interest And Currency Rate Of Hedging Instrument (Details) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2022 KRW (₩) USD ($) EUR (€) AUD ($) | Dec. 31, 2021 KRW (₩) EUR (€) USD ($) AUD ($) | |
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 | 270,000,000 | 470,000,000 |
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 | 0 | 200,000,000 |
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 | 270,000,000 |
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 | 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 | 80,000,000 | 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 | 100,000,000 | 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 | 0 |
Foreign currencies translation risk | Currency 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 | € | 194,780,000 | |
Foreign currencies translation risk | Currency 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 | |
Foreign currencies translation risk | Currency 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 | € | 194,780,000 | |
Foreign currencies translation risk | Currency 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 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 | 2,375,000,000 | 1,850,000,000 |
Description of average rate of interest rate risk hedging instrument | Fixed 3.62% receipt and Libor 3M+1.45% floating paid Fixed 2.05% receipt and (C.SOFR)+0.65% paid | Fixed 3.62% receipt and Libor 3M + 1.45% 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 | 0 |
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 | 2,075,000,000 | 1,550,000,000 |
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 | 150,000,000 | 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 | 0 | 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 fair value 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 | ₩ | 150,000 | |
Description of average rate of interest rate risk hedging instrument | Fixed 3.13% receipt and CD 3M paid | |
For fair value 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 | ₩ | 150,000 | |
For fair value 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 | ₩ | 0 | |
For fair value 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 | 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 | ₩ | 190,000 | 50,000 |
Description of average rate of interest rate risk hedging instrument | KRW CMS 5Y+0.46% receipt, 3.65% paid KRW CD+0.33% receipt, 1.68% 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 | ₩ | 50,000 | 0 |
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 | ₩ | 140,000 | 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 | 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 | 270,000,000 | 470,000,000 |
Description of average rate of currency risk hedging instrument | USD 1M Libor+0.79% receipt, KRW 0.80% paid, KRW/USD = 1,226.29 | USD 1M Libor+0.70% receipt, KRW 0.93% paid, KRW/USD = 1,206.60 |
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 | 180,000,000 |
Description of average rate of currency risk hedging instrument | USD 1.50% receipt, KRW 1.57% paid, KRW/USD = 1,140.50 | USD 1.50% receipt, KRW 1.57% paid, KRW/USD = 1,140.50 |
For cash flow hedging | Foreign currencies translation risk | Currency 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 | € | 194,780,000 | |
Description of average rate of currency risk hedging instrument | EUR 1.98% receipt, KRW 3.68% paid, KRW/EUR = 1,344.08 | |
Hedges of net investment in foreign operations [member] | Exchange risk [Member] | Foreign currency denominated debentures (KRWUSD) [Member] | KRW/USD [Member] | ||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Description of average rate of currency risk hedging instrument | 1,344.37 | |
Hedges of net investment in foreign operations [member] | Exchange risk [Member] | Foreign currency bond (USD) [Member] | 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 | 864,390,437 | |
Hedges of net investment in foreign operations [member] | Exchange risk [Member] | Foreign currency bond (USD) [Member] | 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 | 272,390,437 | |
Hedges of net investment in foreign operations [member] | Exchange risk [Member] | Foreign currency bond (USD) [Member] | 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 | 592,000,000 | |
Hedges of net investment in foreign operations [member] | Exchange risk [Member] | Foreign currency bond (USD) [Member] | 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 |
Derivatives - Summary Of Amount
Derivatives - Summary Of Amounts Related To Items Designated As Hedging Instruments (Details) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2022 KRW (₩) EUR (€) USD ($) AUD ($) | Dec. 31, 2021 KRW (₩) EUR (€) USD ($) AUD ($) | |
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 | $ | 270,000,000 | 470,000,000 |
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 | 180,000,000 |
Foreign currencies translation risk | Currency swap | EUR | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Nominal amounts of the hedging instrument | € | 194,780,000 | |
For fair value 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 | 150,000 | |
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 | $ | 2,375,000,000 | 1,850,000,000 |
Carrying amounts of the hedging instrument, assets | ₩ 0 | ₩ 95,086 |
Carrying amounts of the hedging instrument, liabilities | ₩ 193,831 | ₩ 20,287 |
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) |
Changing in fair value used for calculating hedge ineffectiveness | ₩ (247,765) | ₩ (83,821) |
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 | 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 risk | Interest rate swap | Korea (South), Won | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Nominal amounts of the hedging instrument | 190,000 | 50,000 |
Carrying amounts of the hedging instrument, assets | ₩ 2,041 | ₩ 351 |
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) | Derivative liabilities (designated for hedging) |
Changing in fair value used for calculating hedge ineffectiveness | ₩ 1,690 | ₩ 1,896 |
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 | $ | 270,000,000 | 470,000,000 |
Carrying amounts of the hedging instrument, assets | ₩ 17,909 | ₩ 3,631 |
Carrying amounts of the hedging instrument, liabilities | ₩ 0 | ₩ 7,297 |
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 | ₩ 58,253 | ₩ 60,564 |
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 | 180,000,000 |
Carrying amounts of the hedging instrument, assets | ₩ 17,836 | ₩ 7,679 |
Carrying amounts of the hedging instrument, liabilities | ₩ 0 | ₩ 0 |
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 | ₩ 9,317 | ₩ 8,218 |
For cash flow hedging | Foreign currencies translation risk | Currency swap | EUR | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Nominal amounts of the hedging instrument | € | 194,780,000 | |
Carrying amounts of the hedging instrument, assets | ₩ 0 | |
Carrying amounts of the hedging instrument, liabilities | ₩ 9,080 | |
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 | ₩ (10,286) | |
Hedges of net investment in foreign operations [member] | Exchange risk [Member] | Foreign currency bond (USD) [Member] | USD | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Nominal amounts of the hedging instrument | $ | 864,390,437 | |
Carrying amounts of the hedging instrument, assets | ₩ 0 | |
Carrying amounts of the hedging instrument, liabilities | ₩ 1,095,442 | |
Description of line item in statement of financial position where the hedging instrument is located | Foreign currency bond | |
Changing in fair value used for calculating hedge ineffectiveness | ₩ (28,553) |
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, 2022 | Dec. 31, 2021 | ||
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 | [1] | (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 | 3,076,983 | 2,366,724 | |
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 | ₩ (199,804) | ₩ 53,160 | |
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 | ₩ 257,911 | ₩ 100,343 | |
Reserve of cash flow hedges, hedging relationships for which hedge accounting is no longer applied | [1] | 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 | 229,892 | 49,977 | |
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 | ₩ (3,742) | ₩ (1,760) | |
Reserve of cash flow hedges, hedging relationships for which hedge accounting is no longer applied | [1] | 2,531 | 281 |
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 | 342,019 | 556,607 | |
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 | ₩ (23,296) | ₩ (53,832) | |
Reserve of cash flow hedges, hedging relationships for which hedge accounting is no longer applied | [1] | 8,648 | 5,859 |
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 | 752,901 | 212,715 | |
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 | ₩ 11,256 | ₩ (7,609) | |
Reserve of cash flow hedges, hedging relationships for which hedge accounting is no longer applied | [1] | (24,600) | ₩ (305) |
Hedges of net investment in foreign operations [member] | Exchange risk [Member] | Foreign currency bond [Member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Carrying amounts of the hedging item, assets | 0 | ||
Carrying amounts of the hedging item, liabilities | 1,095,442 | ||
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 operations net asset | ||
Changing in fair value used for calculating hedge ineffectiveness | ₩ 28,553 | ||
Reserve of cash flow hedges, hedging relationships for which hedge accounting is no longer applied | [1] | ₩ (38,797) | |
[1]After tax amount |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
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 | ₩ 10,146 | ₩ 16,522 | ₩ (1,852) |
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 | ₩ 1,653 | ₩ 1,641 | ₩ (122) |
Hedge ineffectiveness recognized in profit or loss | 37 | 256 | (74) |
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 | ₩ 220 | ₩ 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 | ₩ 58,253 | ₩ 60,394 | ₩ (68,270) |
Hedge ineffectiveness recognized in profit or loss | 0 | 169 | (1,049) |
Changes in the value of foreign basis spread recognized in OCI | ₩ (1,721) | ₩ (2,300) | ₩ 5,893 |
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 | ₩ (53,743) | ₩ (52,126) | ₩ 64,762 |
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 | ₩ (969) | ₩ 8,476 | ₩ (3,677) |
Hedge ineffectiveness recognized in profit or loss | 0 | (258) | (1,022) |
Changes in the value of foreign basis spread recognized in OCI | ₩ 2,046 | ₩ 416 | ₩ 320 |
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 | ₩ (16,111) | ₩ (9,045) | ₩ 5,393 |
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) |
Derivatives - Disclosure of gai
Derivatives - Disclosure of gain (loss) on fair value hedge ineffectiveness in profit or loss and other comprehensive income (Details) - Hedges of net investment in foreign operations [member] - Exchange risk [Member] - Foreign currency denominated debentures (KRWUSD) [Member] - KRW ₩ in Millions | 12 Months Ended |
Dec. 31, 2022 KRW (₩) | |
Disclosure of gain (loss) on fair value hedge ineffectiveness in profit or loss and other comprehensive income [Line Items] | |
Profit or loss recognized in OCI | ₩ (38,797) |
Hedge ineffectiveness recognized in profit or loss | ₩ 0 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Reconciliation of aggregate difference between fair value at initial recognition and transaction price yet to be recognised in profit or loss [abstract] | |||
Beginning balance | ₩ 29,111 | ₩ 6,939 | ₩ 52,259 |
Changes in aggregate difference between fair value at initial recognition and transaction price yet to be recognised in profit or loss [abstract] | |||
New transactions | 21,656 | 49,523 | 22,901 |
Amounts recognized in losses | (32,803) | (27,351) | (68,221) |
Ending balance | ₩ 17,964 | ₩ 29,111 | ₩ 6,939 |
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. 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, 2022 KRW (₩) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 KRW (₩) | Dec. 31, 2019 KRW (₩) | ||||
Capital | |||||||||
Common stock capital | ₩ 3,640,303 | ₩ 3,640,303 | $ 2,888,671 | ||||||
Hybrid securities | 3,112,449 | 2,294,381 | 2,469,805 | ||||||
Capital surplus | |||||||||
Paid in capital in excess of par | 643,544 | 643,544 | |||||||
Others | 38,841 | 38,841 | |||||||
Sub-total | 682,385 | 682,385 | 541,490 | ||||||
Capital adjustments | |||||||||
Treasury stocks | (3,819) | (3,819) | |||||||
Other adjustments | [1] | (1,780,367) | (1,747,242) | ||||||
Sub-total | (1,784,186) | (1,751,061) | |||||||
Accumulated other comprehensive income [abstract] | |||||||||
Financial assets at FVTOCI | (645,731) | (162,522) | |||||||
Changes in capital due to equity method | 475 | (138) | |||||||
Loss from foreign business translation | (24,202) | (63,781) | |||||||
Remeasurements of defined benefit plan | 55,235 | (195,944) | |||||||
Capital related to non-current assets held for sale | 0 | 279 | |||||||
Sub-total | (639,206) | (416,553) | ₩ (572,160) | ₩ (500,655) | |||||
Retained earnings | 23,750,152 | [2],[3] | 21,347,472 | [2],[3] | 18,846,335 | ||||
Non-controlling interest | 2,865,445 | [4] | 3,008,176 | [4] | 2,273,802 | ||||
Gain (loss) on hedges of net investment in foreign operations | (20,701) | ||||||||
Gain (loss) on valuation of cash flow hedge | (4,282) | 5,553 | |||||||
Total | ₩ 31,627,342 | 28,805,103 | $ 25,097,081 | $ 22,857,565 | ₩ 26,725,845 | ₩ 25,492,332 | |||
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 2,555,166 million Won and 2,344,816 million Won as of December 31, 2021 and 2022, respectively, are recognized as non-controlling interests. 144,923 million Won and 113,995 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, 2021 and 2022, respectively. | ||||||||
Additional description for retained earnings | The regulatory reserve for credit losses in retained earnings amounted to 2,568,367 million Won and 2,996,960 million Won and as of December 31, 2021 and 2022, respectively in accordance with the relevant article. | ||||||||
Earned surplus reserve | ₩ 181,860 | 122,370 | |||||||
Regulatory reserve for credit loss | ₩ 2,568,367 | ₩ 2,996,960 | |||||||
[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 122,370 million won and 181,860 million won as of December 31, 2021 and 2022 in accordance with the Article 53 of the Financial Holding Company Act.[3]The regulatory reserve for credit losses in retained earnings amounted to 2,568,367 million won and 2,996,960 million won and as of December 31, 2021 and 2022, respectively in accordance with the relevant article.[4]The hybrid securities issued by Woori Bank amounting to 2,555,166 million won and 2,344,816 million won as of December 31, 2021 and 2022, respectively, are recognized as non-controlling interests. 144,923 million won and 113,995 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, 2021 and 2022, respectively. |
Equity - Summary of Authorized
Equity - Summary of Authorized Shares And Others (Details) ₩ / shares in Units, $ in Thousands, ₩ in Millions | Dec. 31, 2022 KRW (₩) ₩ / shares shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 KRW (₩) ₩ / shares shares |
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 | 728,060,549 |
Capital stock | ₩ 3,640,303 | $ 2,888,671 | ₩ 3,640,303 |
Equity - Summary of Hybrid Secu
Equity - Summary of Hybrid Securities Classified as Owners Equity (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2022 KRW (₩) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2022 USD ($) | |
Disclosure of bond type hybrid securities of other equity interest classified as owner's equity [Line Items] | |||
Hybrid securities | ₩ 3,112,449 | ₩ 2,294,381 | $ 2,469,805 |
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. 06, 2020 | Feb. 06, 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% | 3% | |
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. 08, 2021 | Apr. 08, 2021 | |
Maturity | 0 | 0 | |
Interest rate (%) | 3.15% | 3.15% | |
Hybrid securities | ₩ 200,000 | ₩ 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 | ₩ 200,000 | |
Hybrid securities of other equity interest in local currency issued in 202203 | |||
Disclosure of bond type hybrid securities of other equity interest classified as owner's equity [Line Items] | |||
Issue date | Oct. 25, 2022 | Oct. 25, 2022 | |
Maturity | 0 | 0 | |
Interest rate (%) | 5.97% | 5.97% | |
Hybrid securities | ₩ 220,000 | ₩ 0 | |
Hybrid securities of other equity interest in local currency issued in 202202 | |||
Disclosure of bond type hybrid securities of other equity interest classified as owner's equity [Line Items] | |||
Issue date | Jul. 28, 2022 | Jul. 28, 2022 | |
Maturity | 0 | 0 | |
Interest rate (%) | 4.99% | 4.99% | |
Hybrid securities | ₩ 300,000 | ₩ 0 | |
Hybrid securities of other equity interest in local currency issued in 202201 | |||
Disclosure of bond type hybrid securities of other equity interest classified as owner's equity [Line Items] | |||
Issue date | Feb. 17, 2022 | Feb. 17, 2022 | |
Maturity | 0 | 0 | |
Interest rate (%) | 4.10% | 4.10% | |
Hybrid securities | ₩ 300,000 | ₩ 0 | |
Issuance cost | |||
Disclosure of bond type hybrid securities of other equity interest classified as owner's equity [Line Items] | |||
Hybrid securities | ₩ (7,551) | ₩ (5,619) |
Equity - Summary Of Changes In
Equity - Summary Of Changes In The accumulated Other Comprehensive Income (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | ₩ (416,553) | ₩ (572,160) | ₩ (500,655) |
Changes in accumulated other comprehensive income [Abstract] | |||
Increase (decrease) | (312,733) | 164,833 | (22,430) |
Reclassification adjustments | 21,278 | (31,403) | (30,643) |
Classified as held for sale | 0 | ||
Income tax effect | 68,802 | 22,177 | (18,432) |
Ending balance | (639,206) | (416,553) | (572,160) |
Net gain (loss) on valuation of financial assets at FVTOCI | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | (162,522) | (9,833) | (71,914) |
Changes in accumulated other comprehensive income [Abstract] | |||
Increase (decrease) | (659,906) | (174,113) | 115,167 |
Reclassification adjustments | 21,498 | (32,624) | (30,643) |
Classified as held for sale | 0 | ||
Income tax effect | 155,199 | 54,048 | (22,443) |
Ending balance | ₩ (645,731) | ₩ (162,522) | ₩ (9,833) |
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 (10,254) million Won and 279 million Won are due to disposal of equity securities and non-current assets held for sale, respectively during the period. | 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. |
Changes in capital due to equity method | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | ₩ (138) | ₩ (2,609) | ₩ 915 |
Changes in accumulated other comprehensive income [Abstract] | |||
Increase (decrease) | 6,563 | 3,885 | (3,171) |
Reclassification adjustments | 0 | 0 | 0 |
Classified as held for sale | (1,691) | ||
Income tax effect | (5,950) | (1,414) | 1,338 |
Ending balance | 475 | (138) | (2,609) |
Gain (loss) on foreign currency translation of foreign operations | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | (63,781) | (298,363) | (152,987) |
Changes in accumulated other comprehensive income [Abstract] | |||
Increase (decrease) | 33,368 | 239,614 | (152,486) |
Reclassification adjustments | 0 | 0 | 0 |
Classified as held for sale | 0 | ||
Income tax effect | 6,211 | (5,032) | 7,110 |
Ending balance | (24,202) | (63,781) | (298,363) |
Remeasurement gain (loss) related to defined benefit plan | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | (195,944) | (261,195) | (270,977) |
Changes in accumulated other comprehensive income [Abstract] | |||
Increase (decrease) | 346,553 | 90,337 | 13,492 |
Reclassification adjustments | 0 | 0 | 0 |
Classified as held for sale | 0 | ||
Income tax effect | (95,374) | (25,086) | (3,710) |
Ending balance | 55,235 | (195,944) | (261,195) |
Gain (loss) on valuation of derivatives designated as cash flow hedges | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | 5,553 | (1,386) | (5,692) |
Changes in accumulated other comprehensive income [Abstract] | |||
Increase (decrease) | (10,373) | 6,416 | 4,568 |
Reclassification adjustments | (220) | 1,221 | 0 |
Classified as held for sale | 0 | ||
Income tax effect | 758 | (698) | (262) |
Ending balance | (4,282) | 5,553 | (1,386) |
Capital related to noncurrent assets held for sale | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | 279 | 1,226 | 0 |
Changes in accumulated other comprehensive income [Abstract] | |||
Increase (decrease) | (385) | (1,306) | 0 |
Reclassification adjustments | 0 | 0 | 0 |
Classified as held for sale | 1,691 | ||
Income tax effect | 106 | 359 | (465) |
Ending balance | 0 | 279 | ₩ 1,226 |
Gain (loss) on hedges of net investment in foreign operations | |||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Beginning balance | 0 | ||
Changes in accumulated other comprehensive income [Abstract] | |||
Increase (decrease) | (28,553) | ||
Reclassification adjustments | 0 | ||
Income tax effect | 7,852 | ||
Ending balance | ₩ (20,701) | ₩ 0 |
Equity - Summary Of Treasury St
Equity - Summary Of Treasury Stock (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2022 KRW (₩) shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 KRW (₩) shares | Dec. 31, 2021 USD ($) shares | |
Stockholders Equity Number Of Shares Par Value And Other Disclosures [Line Items] | ||||
Beginning balance, Number of shares | 728,060,549 | 728,060,549 | ||
Balance at beginning | ₩ 28,805,103 | $ 22,857,565 | ₩ 26,725,845 | |
Acquisition, Book Value | ₩ | ₩ 3,819 | |||
Ending balance, Number of shares | 728,060,549 | 728,060,549 | 728,060,549 | 728,060,549 |
Balance at end | ₩ 31,627,342 | $ 25,097,081 | ₩ 28,805,103 | $ 22,857,565 |
Treasury shares [member] | ||||
Stockholders Equity Number Of Shares Par Value And Other Disclosures [Line Items] | ||||
Beginning balance, Number of shares | 343,991 | 343,991 | 2 | 2 |
Balance at beginning | ₩ | ₩ 3,819 | ₩ 0 | ||
Acquisition, Number of shares | 0 | 0 | 343,989 | 343,989 |
Acquisition, Book Value | ₩ | ₩ 0 | ₩ 3,819 | ||
Ending balance, Number of shares | 343,991 | 343,991 | 343,991 | 343,991 |
Balance at end | ₩ | ₩ 3,819 | ₩ 3,819 |
Dividends - Additional Informat
Dividends - Additional Information (Details) ₩ / shares in Units, ₩ in Millions | 12 Months Ended | |||
Jun. 30, 2022 KRW (₩) ₩ / shares | Dec. 31, 2022 KRW (₩) ₩ / shares | Dec. 31, 2021 $ / shares | Dec. 31, 2021 KRW (₩) | |
Dividends [Abstract] | ||||
Dividend paid | ₩ 713,497 | |||
Dividend paid per share | ₩ / shares | ₩ 980 | |||
Interim dividends paid | ₩ 109,209 | |||
Dividends proposed | ₩ / shares | ₩ 150 | |||
Dividends recognised as distributions to owners per share | $ / shares | $ 750 | |||
Dividends paid | ₩ 546,044 |
Net Interest Income - Summary o
Net Interest Income - Summary of Interest Income (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2020 KRW (₩) | |
Disclosure of interest income operating [Abstract] | ||||
Financial assets at FVTPL | ₩ 106,698 | ₩ 45,803 | ₩ 48,612 | |
Financial assets at FVTOCI | 632,615 | $ 501,996 | 381,814 | 437,527 |
Financial assets at amortized cost | ||||
Interest on due from banks | 244,331 | 46,600 | 53,586 | |
Interest on loans | 13,109,022 | 9,065,074 | 8,570,173 | |
Interest of other receivables | 46,637 | 30,538 | 30,967 | |
Sub-total (Loans and other financial assets at amortized cost) | 13,399,990 | 9,142,212 | 8,654,726 | |
Securities at amortized cost | 515,246 | 324,920 | 382,988 | |
Sub-total | 13,915,236 | 11,042,085 | 9,467,132 | 9,037,714 |
Interest income | ₩ 14,654,549 | $ 11,628,748 | ₩ 9,894,749 | ₩ 9,523,853 |
Net Interest Income - Summary_2
Net Interest Income - Summary of Interest Expense (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2020 KRW (₩) | |
Interest costs [abstract] | ||||
Interest on deposits due to customers | ₩ 4,120,811 | ₩ 1,906,858 | ₩ 2,486,523 | |
Interest on borrowings | 598,185 | 219,994 | 269,985 | |
Interest on debentures | 1,036,191 | 727,093 | 722,551 | |
Other interest expense | 195,090 | 47,647 | 36,964 | |
Interest on lease liabilities | 7,693 | 7,436 | 9,318 | |
Total | ₩ 5,957,970 | $ 4,727,798 | ₩ 2,909,028 | ₩ 3,525,341 |
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, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2020 KRW (₩) | |
Fee and commission income [abstract] | ||||
Fees and commission received for brokerage | ₩ 185,545 | ₩ 182,794 | ₩ 162,653 | |
Credit-related fee and commission income | 189,856 | 197,125 | 195,391 | |
Fees and commission received for electronic finance | 130,712 | 131,941 | 125,107 | |
Fees and commission received on foreign exchange handling | 56,812 | 56,210 | 55,984 | |
Fees and commission received on foreign exchange | 96,713 | 73,894 | 69,017 | |
Fees and commission received for guarantee | 85,340 | 76,428 | 74,647 | |
Fees and commission received on credit card | 594,897 | 573,048 | 507,852 | |
Fees and commissions received on securities business | 111,211 | 100,991 | 79,606 | |
Fees and commission from trust management | 266,447 | 216,203 | 160,564 | |
Fees and commission received on credit information | 10,190 | 10,220 | 13,254 | |
Fees and commission received related to lease | 572,563 | 374,900 | 84,164 | |
Other fees | 199,414 | 177,951 | 165,777 | |
Total | ₩ 2,499,700 | $ 1,983,574 | ₩ 2,171,705 | ₩ 1,694,016 |
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, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2020 KRW (₩) | |
Fee and commission expense [abstract] | ||||
Fees and commissions paid | ₩ 325,536 | ₩ 261,734 | ₩ 246,824 | |
Credit card commission | 446,885 | 425,796 | 424,316 | |
Securities business commission | 1,414 | 1,605 | 551 | |
Others | 15,695 | 11,795 | 8,286 | |
Total | ₩ 789,530 | $ 626,512 | ₩ 700,930 | ₩ 679,977 |
Dividend income - Schedule of r
Dividend income - Schedule of revenue from dividends (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2020 KRW (₩) | |
Interest And Dividend Income, Securities, by Security Type [Abstract] | ||||
Dividend income related to financial assets at FVTPL | ₩ 136,136 | ₩ 284,683 | ₩ 120,158 | |
Dividend income related to financial assets at FVTOCI | 23,846 | 24,528 | 18,385 | |
Total | ₩ 159,982 | $ 126,950 | ₩ 309,211 | ₩ 138,543 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
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 | ₩ 23,846 | ₩ 24,528 | ₩ 18,385 |
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, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2020 KRW (₩) | |
Income, expense, gains or losses of financial instruments [abstract] | ||||
Gain on financial instruments at fair value through profit or loss measured at fair value | ₩ 238,502 | ₩ 325,649 | ₩ 422,374 | |
Gain (loss) on financial instruments at fair value through profit or loss designated as upon initial recognition | 0 | 102 | (665) | |
Total | ₩ 238,502 | $ 189,257 | ₩ 325,751 | ₩ 421,709 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Gains losses on financial instruments held for trading [Line Items] | |||
Total | ₩ 238,502 | ₩ 325,649 | ₩ 422,374 |
Financial assets at FVTPL | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | (227,352) | 75,199 | 27,902 |
Securities | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | (258,426) | 52,631 | 20,045 |
Securities | Gain on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | 294,667 | 249,803 | 142,551 |
Securities | Loss on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | (553,093) | (197,172) | (122,506) |
Loans | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | 21,786 | 17,904 | 7,212 |
Loans | Gain on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | 24,005 | 24,674 | 15,299 |
Loans | Loss on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | (2,219) | (6,770) | (8,087) |
Other financial assets | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | 9,288 | 4,664 | 645 |
Other financial assets | Gain on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | 21,602 | 17,034 | 10,902 |
Other financial assets | Loss on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | (12,314) | (12,370) | (10,257) |
Derivatives (Held for trading) | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | 465,854 | 250,450 | 394,472 |
Interest rates derivatives | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | 1,590,709 | 273,252 | (271,239) |
Interest rates derivatives | Gain on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | 5,216,543 | 2,020,004 | 1,727,585 |
Interest rates derivatives | Loss on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | (3,625,834) | (1,746,752) | (1,998,824) |
Currency derivatives | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | (1,111,400) | (29,462) | 656,001 |
Currency derivatives | Gain on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | 14,601,674 | 9,685,798 | 12,562,354 |
Currency derivatives | Loss on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | (15,713,074) | (9,715,260) | (11,906,353) |
Equity derivatives | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | (13,491) | 10,377 | 10,125 |
Equity derivatives | Gain on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | 2,836,843 | 1,754,671 | 1,835,497 |
Equity derivatives | Loss on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | (2,850,334) | (1,744,294) | (1,825,372) |
Other derivatives | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | 36 | (3,717) | (415) |
Other derivatives | Gain on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | 49 | 64 | 0 |
Other derivatives | Loss on transactions and valuation | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | (13) | (3,781) | (415) |
Derivatives Held For Trading [Member] | |||
Gains losses on financial instruments held for trading [Line Items] | |||
Total | ₩ 238,502 | ₩ 325,649 | ₩ 422,374 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Gains (losses) on financial instruments at fair value through profit or loss designated upon initial recognition [Abstract] | |||
Gain (loss) on equity-linked securities | ₩ 0 | ₩ 102 | ₩ (665) |
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, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2020 KRW (₩) | |
Disclosure of gains losses recognised in profit or loss availableforsale financial assets [Abstract] | ||||
Loss on redemption of securities | ₩ (7) | ₩ (23) | ₩ (57) | |
Gain (Loss) on transaction of securities | (21,491) | 32,647 | 24,195 | |
Total | ₩ (21,498) | $ (17,059) | ₩ 32,624 | ₩ 24,138 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of impairment losses due to credit loss [Abstract] | |||
Reversal(provision) due to credit loss on financial assets measured at FVTOCI | ₩ 827 | ₩ (4,909) | ₩ (1,529) |
Provision for impairment loss due to credit loss on securities at amortized cost | (881,668) | (551,957) | (792,250) |
Provision for impairment loss due to credit loss on loan and other financial assets at amortized cost | (3,151) | (664) | 934 |
Provision for(reversal of) provision on guarantee | (7,611) | 10,701 | 18,348 |
Reversal of(provision for) unused loan commitment | 6,332 | 9,991 | (9,874) |
Total | ₩ (885,271) | ₩ (536,838) | ₩ (784,371) |
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, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2020 KRW (₩) | |
Short-term employee benefits expense [abstract] | ||||
Salaries | ₩ 1,980,363 | ₩ 1,775,018 | ₩ 1,638,341 | |
Employee fringe benefits | 590,255 | 545,534 | 506,048 | |
Share based payments | 9,632 | 17,774 | 7,495 | |
Retirement benefit service costs | 169,303 | 181,797 | 178,455 | |
Termination | 162,019 | 180,872 | 202,259 | |
Sub total | 2,911,572 | 2,700,995 | 2,532,598 | |
Depreciation and amortisation expense [abstract] | ||||
Depreciation and amortization | 521,827 | 524,154 | 520,969 | |
Other general and administrative expense [Abstract] | ||||
Rent | 80,130 | 83,879 | 78,707 | |
Taxes and public dues | 157,905 | 135,015 | 129,904 | |
Service charges | 233,495 | 231,852 | 244,825 | |
Computer and IT related | 127,186 | 117,875 | 108,810 | |
Telephone and communication | 84,204 | 79,145 | 72,711 | |
Operating promotion | 53,733 | 44,248 | 45,891 | |
Advertising | 160,464 | 101,384 | 94,880 | |
Printing | 6,799 | 6,449 | 6,954 | |
Traveling | 10,716 | 7,449 | 7,263 | |
Supplies | 8,309 | 7,642 | 12,127 | |
Insurance premium | 20,670 | 10,692 | 10,805 | |
Maintenance | 23,266 | 20,808 | 18,367 | |
Water, light and heating | 16,165 | 14,520 | 14,993 | |
Vehicle maintenance | 14,831 | 11,590 | 10,225 | |
Others | 98,618 | 49,714 | 46,152 | |
Sub total | 1,096,491 | 922,262 | 902,614 | |
Total | ₩ 4,529,890 | $ 3,594,580 | ₩ 4,147,411 | ₩ 3,956,181 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Other operating income [Abstract] | |||
Gain on transactions of foreign exchange | ₩ 1,403,083 | ₩ 562,935 | ₩ 758,347 |
Gain related to derivatives (Designated for hedging) | 71,179 | 61,271 | 67,395 |
Gain on fair value hedged items | 257,910 | 106,253 | 9,646 |
Others | 249,509 | 172,044 | 63,702 |
Total | ₩ 1,981,681 | ₩ 902,503 | ₩ 899,090 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Other operating expenses [Abstract] | ||||
Net foreign exchange loss | ₩ 1,181,663 | ₩ 450,698 | ₩ 679,350 | |
KDIC deposit insurance premium | 423,834 | 406,276 | 371,054 | |
Contribution to miscellaneous funds | 402,057 | 367,961 | 327,911 | |
Losses on change in fair value of derivatives | 250,268 | 93,084 | 82,746 | |
Losses on fair value hedged items | 0 | 1,947 | 68,508 | |
Others | [1] | 736,112 | 469,938 | 189,959 |
Total | 2,993,934 | 1,789,904 | 1,719,528 | |
Amortization of other intangible assets included in other operating expenses | 14,664 | 13,963 | 11,890 | |
Lease depreciation cost | ₩ 388,895 | ₩ 250,971 | ₩ 52,504 | |
[1]Other expense includes 11,890 million Won, 13,963 million Won and 14,664 million Won for intangible asset amortization cost for the years ended December 31, 2020, 2021 and 2022 respectively. In addition, it includes 52,504 million Won, 250,971 million Won and 388,895 million Won for lease depreciation cost for the years ended December 31, 2020, 2021 and 2022, 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, 2022 KRW (₩) yr shares | Dec. 31, 2021 KRW (₩) 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. 01, 2023 | |||
Fair Value | ₩ | [1] | 12,406 | ||
Valuation method | Black-Scholes Model | |||
Expected dividend rate | 5.05% | |||
Expected maturity date | yr | 0 | |||
Number of shares remaining | 602,474 | 602,474 | ||
Number of shares granted | [2] | 602,474 | 602,474 | |
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. 01, 2024 | |||
Fair Value | ₩ | [1] | 11,796 | ||
Valuation method | Black-Scholes Model | |||
Expected dividend rate | 5.05% | |||
Expected maturity date | yr | 1 | |||
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. 01, 2025 | |||
Fair Value | ₩ | [1] | 11,215 | ||
Valuation method | Black-Scholes Model | |||
Expected dividend rate | 5.05% | |||
Expected maturity date | yr | 2 | |||
Number of shares remaining | 1,105,515 | 1,105,515 | ||
Number of shares granted | [2] | 1,105,515 | 1,105,515 | |
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 2022 | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Subject to | Shares granted for the year 2022 | |||
Type of payment | Cash-settled | |||
Vesting period | January 1, 2022 ~ December 31, 2025 | |||
Date of payment | Jan. 01, 2026 | |||
Fair Value | ₩ | [1] | 10,662 | ||
Valuation method | Black-Scholes Model | |||
Expected dividend rate | 5.05% | |||
Expected maturity date | yr | 3 | |||
Number of shares remaining | 968,119 | 0 | ||
Number of shares granted | 968,119 | [2] | 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 | ₩ | ₩ 41,334 | ₩ 31,597 | ||
Liabilities related to key management | ₩ | ₩ 17,494 | ₩ 13,319 | ||
[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, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2020 KRW (₩) | ||
Gain or loss on valuation of investments in associates and joint ventures | |||||
Gains on valuation of investments in joint ventures and associates | ₩ 98,858 | ₩ 80,268 | ₩ 125,602 | ||
Reversal of impairment losses of investments in joint ventures and associates | 0 | 1,744 | 0 | ||
Losses on valuation of investments in joint ventures and associates | (11,134) | (7,405) | (23,283) | ||
Impairment losses of investments in joint ventures and associates | (17,728) | (12,411) | (1,242) | ||
Total | 69,996 | $ 55,545 | 62,196 | 101,077 | |
Other Income Disclosure Non operating [Abstract] | |||||
Rental fee income | 22,798 | 15,056 | 15,190 | ||
Gains on disposal of investment in joint ventures and associates | 599 | 70,834 | 3,470 | ||
Gains on disposal of premises and equipment, intangble assets and other assets | 55,852 | 51,083 | 9,715 | ||
Reversal of impairment loss of premises and equipment, intangible assets and other assets | 310 | 166 | 172 | ||
Others | [1] | 79,219 | 50,990 | 104,648 | |
Total | 158,778 | 188,129 | 133,195 | ||
Other Expense Disclosure Non operating [Abstract] | |||||
Depreciation on investment properties | 3,925 | 2,809 | 2,689 | ||
Operating expenses on investment properties | 1,448 | 1,174 | 762 | ||
Losses on disposal of investment in joint ventures and associates | 3,690 | 174 | 0 | ||
Losses on disposal of premises and equipment, intangible assets and other assets | 3,177 | 3,354 | 2,717 | ||
Impairment losses of premises and equipment, intangible assets and other assets | 260 | 656 | 8,763 | ||
Donation | 50,547 | 39,335 | 44,504 | ||
Others | [2] | 48,681 | 175,527 | 253,980 | |
Total | (111,728) | (223,029) | (313,415) | ||
Total | 47,050 | 37,335 | (34,900) | (180,220) | |
Profit from bargain purchase | 0 | $ 0 | 0 | 67,427 | |
Other special gain related to other provisions | 46,536 | ||||
Other extraordinary losses related to other provisions | ₩ 75,921 | ₩ 224,427 | |||
Loss on non operating expenses related to embezzlement | 62,196 | ||||
Loss on non operating expenses related to other provisions | ₩ 18,458 | ||||
[1]Others include 67,427 million won of profit from bargain purchase and 46,536 million Won of other special gain related to other provisions for the years ended December 31, 2020 and 2022, respectively.[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, respectively, and include 63,354 million Won of other special loss related to embezzlement incidents and 18,458 million won of other special loss related to other provisions for the year ended December 31, 2022. |
Income tax expense - Details of
Income tax expense - Details of income tax expenses (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2020 KRW (₩) | |
Current tax expense | ||||
Current tax expense with respect to the current period | ₩ 1,332,636 | ₩ 884,843 | ₩ 501,223 | |
Adjustments recognized in the current period in relation to the tax expense of prior periods | (13,982) | 2,074 | 4,914 | |
Income tax expense directly attributable to other equity | 7,852 | |||
Sub-total | 1,326,506 | 886,917 | 506,137 | |
Deferred tax expense | ||||
Change in deferred tax assets (liabilities) due to temporary differences | (217,805) | 15,672 | (1,702) | |
Income tax expense (income) directly attributable to equity | 68,802 | 22,177 | (18,433) | |
Others | 993 | |||
Sub-total | (148,010) | 37,849 | (20,135) | |
Income tax expense | ₩ 1,178,496 | $ 935,166 | ₩ 924,766 | ₩ 486,002 |
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, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2020 KRW (₩) | ||
Reconciliation of accounting profit multiplied by applicable tax rates [abstract] | |||||
Profit (loss) before tax | ₩ 4,547,570 | $ 3,608,610 | ₩ 3,687,045 | ₩ 2,001,251 | |
Tax calculated at statutory tax rate | [1] | 1,171,389 | 942,991 | 514,456 | |
Adjustments to net income | |||||
Effect of income that is exempt from taxation | (73,488) | (41,335) | (42,440) | ||
Effect of expenses that are not deductible in determining taxable income | 26,793 | 18,933 | 19,451 | ||
Adjustments recognized in the current period in relation to the current tax of prior periods | (14,088) | 3,078 | 4,914 | ||
Others | 67,890 | 1,099 | (10,379) | ||
Sub-total | 7,107 | (18,225) | (28,454) | ||
Income tax expense | ₩ 1,178,496 | $ 935,166 | ₩ 924,766 | ₩ 486,002 | |
Effective tax rate | 25.90% | 25.90% | 25.10% | 24.30% | |
Description of applicable tax rate by taxable income | The applicable income tax rate: % up to 200 million Won in tax basis, 22% over 200 million Won to 20 billion Won, 24.2% over 20 billion Won to 300 billion Won and 27.5% over 300 billion Won. | The applicable income tax rate: % up to 200 million Won in tax basis, 22% over 200 million Won to 20 billion Won, 24.2% over 20 billion Won to 300 billion Won and 27.5% over 300 billion Won. | |||
[1]The applicable income tax rate: % up to 200 million Won in tax basis, 22% over 200 million Won to 20 billion Won, 24.2% over 20 billion Won to 300 billion Won and 27.5% over 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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||||||
Beginning balance | ₩ (138,709) | ₩ (114,163) | ₩ (94,778) | |||
Changes in deferred tax liability (asset) [abstract] | ||||||
Business combination | (1,473) | (21,087) | ||||
Recognized as income (expense) | 148,880 | (46,723) | 20,133 | |||
Recognized as other comprehensive income (expense) | 68,802 | 22,177 | (18,431) | |||
Ending balance | 77,500 | (138,709) | (114,163) | |||
Deferred tax liability asset arising from Unused tax losses | ₩ 3,536 | ₩ 8,838 | ₩ 24,059 | |||
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 3,536 million Won. | 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. | |||
Gain (loss) on financial assets | ||||||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||||||
Beginning balance | ₩ 273,356 | ₩ 276,495 | ₩ 278,352 | |||
Changes in deferred tax liability (asset) [abstract] | ||||||
Business combination | 0 | 2,243 | ||||
Recognized as income (expense) | (55,410) | (57,187) | 19,121 | |||
Recognized as other comprehensive income (expense) | 155,199 | 54,048 | (23,221) | |||
Ending balance | 373,145 | 273,356 | 276,495 | |||
Gain on valuation using the equity method of accounting | ||||||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||||||
Beginning balance | 15,260 | 33,597 | 10,713 | |||
Changes in deferred tax liability (asset) [abstract] | ||||||
Business combination | 0 | 0 | ||||
Recognized as income (expense) | 11,139 | (17,282) | 21,499 | |||
Recognized as other comprehensive income (expense) | (5,844) | (1,055) | 1,385 | |||
Ending balance | 20,555 | 15,260 | 33,597 | |||
Gain (loss) on valuation of derivatives | ||||||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||||||
Beginning balance | (149,805) | (142,352) | (75,412) | |||
Changes in deferred tax liability (asset) [abstract] | ||||||
Business combination | 0 | 675 | ||||
Recognized as income (expense) | 159,664 | (6,755) | (67,423) | |||
Recognized as other comprehensive income (expense) | 758 | (698) | (192) | |||
Ending balance | 10,617 | (149,805) | (142,352) | |||
Accrued income | ||||||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||||||
Beginning balance | (82,482) | (66,228) | (66,384) | |||
Changes in deferred tax liability (asset) [abstract] | ||||||
Business combination | 0 | (4,392) | ||||
Recognized as income (expense) | (7,848) | (16,254) | 4,548 | |||
Recognized as other comprehensive income (expense) | 0 | 0 | 0 | |||
Ending balance | (90,330) | (82,482) | (66,228) | |||
Provision for loan losses | ||||||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||||||
Beginning balance | (34,625) | (46,495) | (52,711) | |||
Changes in deferred tax liability (asset) [abstract] | ||||||
Business combination | 0 | 2,201 | ||||
Recognized as income (expense) | 14,520 | 11,870 | 4,015 | |||
Recognized as other comprehensive income (expense) | 0 | 0 | 0 | |||
Ending balance | (20,105) | (34,625) | (46,495) | |||
Loan and receivables written off | ||||||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||||||
Beginning balance | 8,244 | 8,221 | 6,893 | |||
Changes in deferred tax liability (asset) [abstract] | ||||||
Business combination | 0 | 0 | ||||
Recognized as income (expense) | (318) | 23 | 1,328 | |||
Recognized as other comprehensive income (expense) | 0 | 0 | 0 | |||
Ending balance | 7,926 | 8,244 | 8,221 | |||
Loan origination costs and fees | ||||||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||||||
Beginning balance | (194,463) | (170,196) | (162,442) | |||
Changes in deferred tax liability (asset) [abstract] | ||||||
Business combination | 0 | (14,131) | ||||
Recognized as income (expense) | 25,370 | (24,267) | 6,377 | |||
Recognized as other comprehensive income (expense) | 0 | 0 | 0 | |||
Ending balance | (169,093) | (194,463) | (170,196) | |||
Defined benefit liability | ||||||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||||||
Beginning balance | 449,615 | 442,007 | 396,302 | |||
Changes in deferred tax liability (asset) [abstract] | ||||||
Business combination | 0 | 7,923 | ||||
Recognized as income (expense) | 15,760 | 32,890 | 41,186 | |||
Recognized as other comprehensive income (expense) | (95,590) | (25,282) | (3,404) | |||
Ending balance | 369,785 | 449,615 | 442,007 | |||
Deposits with employee retirement insurance trust | ||||||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||||||
Beginning balance | (432,001) | (424,906) | (381,776) | |||
Changes in deferred tax liability (asset) [abstract] | ||||||
Business combination | 0 | (6,369) | ||||
Recognized as income (expense) | (18,437) | (7,291) | (36,858) | |||
Recognized as other comprehensive income (expense) | 216 | 196 | 97 | |||
Ending balance | (450,222) | (432,001) | (424,906) | |||
Provision for guarantee | ||||||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||||||
Beginning balance | 7,424 | 9,485 | 7,915 | |||
Changes in deferred tax liability (asset) [abstract] | ||||||
Business combination | 0 | 3,441 | ||||
Recognized as income (expense) | 904 | (2,061) | (1,871) | |||
Recognized as other comprehensive income (expense) | 0 | 0 | 0 | |||
Ending balance | 8,328 | 7,424 | 9,485 | |||
Other provision | ||||||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||||||
Beginning balance | 100,571 | 85,173 | 88,456 | |||
Changes in deferred tax liability (asset) [abstract] | ||||||
Business combination | 0 | 0 | ||||
Recognized as income (expense) | (13,342) | 15,398 | (3,283) | |||
Recognized as other comprehensive income (expense) | 0 | 0 | 0 | |||
Ending balance | 87,229 | 100,571 | 85,173 | |||
Others | ||||||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||||||
Beginning balance | (99,803) | [1],[2] | (118,964) | [2],[3] | (144,684) | [3] |
Changes in deferred tax liability (asset) [abstract] | ||||||
Business combination | (1,473) | [1] | (12,678) | [3] | ||
Recognized as income (expense) | 16,878 | [1] | 24,193 | [2] | 31,494 | [3] |
Recognized as other comprehensive income (expense) | 14,063 | [1] | (5,032) | [2] | 6,904 | [3] |
Ending balance | ₩ (70,335) | [1] | ₩ (99,803) | [1],[2] | ₩ (118,964) | [2],[3] |
[1]Among the deferred tax assets and liabilities classified as ‘Others,’ the deferred tax asset arising from unused tax losses amounts to 3,536 million won.[2]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.[3]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. |
Income tax expense - Unrealizab
Income tax expense - Unrealizable temporary differences (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure Of Unrecognized Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deductible temporary differences | ₩ 330,376 | ₩ 303,067 |
Tax loss carry forward | 49,405 | 63,908 |
Taxable temporary differences | (8,898,834) | (8,025,672) |
Total | (8,519,053) | ₩ (7,658,697) |
Temporary differences associated with investments in subsidiaries, branches and associates and interests in joint arrangements for which deferred tax liabilities have not been recognised | 325,601 | |
Temporary Differences For Which No Deferred Tax Liability Is Recognised | 4,775 | |
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 | 8,898,835 | |
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, 2022 | Dec. 31, 2021 |
Disclosure Of Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Tax loss carry forward | ₩ 49,405 | ₩ 63,908 |
1 year or less | ||
Disclosure Of Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Tax loss carry forward | 36,967 | |
1-2 years | ||
Disclosure Of Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Tax loss carry forward | 10,828 | |
2-3 years | ||
Disclosure Of Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Tax loss carry forward | 0 | |
More than 3 years | ||
Disclosure Of Unused Tax Losses For Which No Deferred Tax Asset Recognised [Line Items] | ||
Tax loss carry forward | ₩ 1,610 |
Income tax expense - Deferred t
Income tax expense - Deferred tax charged directly to other equity (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Deferred Tax Relating To Items Charged Or Credited Directly To Equity [Abstract] | ||
Gain on valuation of financial assets at FVTOCI | ₩ 213,876 | ₩ 58,677 |
Gain on valuation of equity method investments | (3,766) | 2,078 |
Gain on foreign currency translation of foreign operations | 9,938 | 5,689 |
Gain on valuation of hedge accounting of the net investment in foreign operations | 9,815 | |
Remeasurements of the net defined benefit liability | (20,584) | 74,790 |
Gain on derivatives designated as cash flow hedge | (86) | (843) |
Total | ₩ 209,193 | ₩ 140,391 |
Income tax expense - Current ta
Income tax expense - Current tax assets and liabilities (Details) $ in Thousands, ₩ in Millions | Dec. 31, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) |
Disclosure Of Current Tax Assets Liabilities [Abstract] | |||
Current tax assets | ₩ 53,274 | $ 42,274 | ₩ 22,598 |
Current tax liabilities | ₩ 843,555 | $ 669,382 | ₩ 584,491 |
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, 2022 KRW (₩) ₩ / shares shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 KRW (₩) ₩ / shares shares | Dec. 31, 2020 KRW (₩) ₩ / shares shares | |
Basic earnings per share [abstract] | ||||
Net income attributable to common shareholders | ₩ 3,186,772 | $ 2,528,783 | ₩ 2,542,844 | ₩ 1,307,266 |
Dividends to hybrid securities | ₩ | (91,756) | (66,250) | (48,915) | |
Net income attributable to common shareholders | ₩ | ₩ 3,095,016 | ₩ 2,476,594 | ₩ 1,258,351 | |
Weighted average number of common shares outstanding | shares | 727,716,558 | 727,716,558 | 724,417,375 | 722,000,000 |
Basic EPS (Unit: Korean Won) | ₩ / shares | ₩ 4,251 | ₩ 3,419 | ₩ 1,742 | |
Diluted EPS (Unit: Korean Won) | ₩ / shares | ₩ 4,251 | ₩ 3,419 | ₩ 1,742 |
Earnings per share - Summary _2
Earnings per share - Summary Of Weighted Average Number Of Common Shares Outstanding (Details) | 12 Months Ended | ||
Dec. 31, 2022 Day shares | Dec. 31, 2021 Day shares | Dec. 31, 2020 shares | |
Weighted average common shares outstanding [Line Items] | |||
Accumulated number of shares outstanding during period | 265,616,543,670 | 264,412,341,853 | |
Weighted average number of common shares outstanding | 727,716,558 | 724,417,375 | 722,000,000 |
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 | 728,060,549 | 722,267,683 | |
Dates (Unit: Day) | Day | 365 | 365 | |
Accumulated number of shares outstanding during period | 265,742,100,385 | 263,627,704,295 | |
Treasury stock | |||
Weighted average common shares outstanding [Line Items] | |||
Number of shares | (343,991) | (2) | |
Dates (Unit: Day) | Day | 365 | 365 | |
Accumulated number of shares outstanding during period | (125,556,715) | (730) |
Contingent liabilities and co_3
Contingent liabilities and commitments - Details of contingent liabilities and commitments (Details) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2022 KRW (₩) Cases | Dec. 31, 2021 KRW (₩) Cases | ||
Disclosure of contingent liabilities [line items] | |||
Total of guarantees | ₩ 11,921,586 | ₩ 12,987,809 | |
Loan commitments | 118,172,070 | 114,414,462 | |
Other commitments | [1] | 7,107,828 | 5,652,557 |
Provisions for litigations | 33,877 | 24,823 | |
Unsecured bank loans received | 2,225,226 | 2,505,399 | |
financial guarantees | 3,960,383 | 3,095,091 | |
litigation value | ₩ 577,128 | ₩ 578,505 | |
Number of litigation cases | Cases | 531 | 475 | |
Unused loan commitment | ₩ 118,172,070 | ₩ 114,414,462 | |
Loan commitments [member] | |||
Disclosure of contingent liabilities [line items] | |||
Unused loan commitment | 52,783 | ||
Guarantee for loans | |||
Disclosure of contingent liabilities [line items] | |||
Total of guarantees | 39,684 | 38,897 | |
Acceptances | |||
Disclosure of contingent liabilities [line items] | |||
Total of guarantees | 501,921 | 622,758 | |
Guarantees in acceptances of imported goods | |||
Disclosure of contingent liabilities [line items] | |||
Total of guarantees | 97,920 | 111,195 | |
Other confirmed guarantees | |||
Disclosure of contingent liabilities [line items] | |||
Total of guarantees | 6,847,713 | 7,215,557 | |
Confirmed guarantees | |||
Disclosure of contingent liabilities [line items] | |||
Total of guarantees | 7,487,238 | 7,988,407 | |
Local letters of credit | |||
Disclosure of contingent liabilities [line items] | |||
Total of guarantees | 150,075 | 243,072 | |
Letters of credit | |||
Disclosure of contingent liabilities [line items] | |||
Total of guarantees | 3,014,228 | 3,186,513 | |
Other unconfirmed guarantees | |||
Disclosure of contingent liabilities [line items] | |||
Total of guarantees | 1,144,498 | 778,088 | |
Unconfirmed guarantees | |||
Disclosure of contingent liabilities [line items] | |||
Total of guarantees | 4,308,801 | 4,207,673 | |
Commercial paper purchase commitments and others | |||
Disclosure of contingent liabilities [line items] | |||
Total of guarantees | ₩ 125,547 | ₩ 791,729 | |
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 acquired the second transaction stake on March 31, 2023. | ||
Explanation of estimated financial effect of contingent liabilities | In regard to this acquisition, the Group recognized 174,780 million Won as other financial liabilities for the second sales agreement. | ||
Estimated financial effect of contingent liabilities | ₩ 174,780 | ||
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, 2022, Woori Asset Trust Co., Ltd., a subsidiary, has agreed to carry out construction completion obligations for 87 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, 2022, the total PF loan amount of PF loan institutions invested in the project of the Land Trust responsible for Construction and Management is 3,607,592 million Won. Although additional losses may occur in relation to the construction completion obligations, the financial statements as of December 31, 2022 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, 2021 and 2022, the amount of unsecured bills (purchase note sales) and discounts on electronic short-term bond sales (purchase) are 2,225,226 million Won and 2,505,399 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, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2020 KRW (₩) | ||
Related party transactions [abstract] | |||||
Interest expense | ₩ 5,957,970 | $ 4,727,798 | ₩ 2,909,028 | ₩ 3,525,341 | |
Interest income | 14,654,549 | $ 11,628,748 | 9,894,749 | 9,523,853 | |
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Payment guarantee provisions recognized | 80 | 93 | |||
W Service Networks Co., Ltd. | |||||
Outstanding balances for related party transactions [abstract] | |||||
Loans | 120 | 20 | |||
Deposits due to customers | 3,298 | 2,832 | |||
Accrued expenses | 7 | 6 | |||
Other liabilities | 109 | 425 | |||
Related party transactions [abstract] | |||||
Other income | 0 | 30 | 32 | ||
Fees expenses | 543 | 612 | 525 | ||
Provision of allowance for credit loss | 0 | 0 | (4) | ||
Other expenses | 1,907 | 1,878 | 2,174 | ||
Interest expense | 14 | 7 | ₩ 13 | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Unused loan commitment | ₩ 60 | ₩ 180 | |||
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 | ₩ 2 | |||
Deposits due to customers | 4,450 | 1,557 | |||
Other liabilities | 40 | 0 | |||
Related party transactions [abstract] | |||||
Fees expenses | 3,730 | 3,503 | ₩ 3,155 | ||
Other expenses | 139 | 68 | 0 | ||
Interest expense | 40 | 4 | ₩ 5 | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Unused loan commitment | ₩ 33 | ₩ 33 | |||
Description of nature of related party relationship | Associates | Associates | Associates | Associates | |
Korea Finance Security Co., Ltd. | |||||
Outstanding balances for related party transactions [abstract] | |||||
Loans | ₩ 3,433 | ₩ 3,425 | |||
Deposits due to customers | 1,764 | 1,887 | |||
Loss allowance | (46) | (6) | |||
Other liabilities | 6 | 2 | |||
Related party transactions [abstract] | |||||
Provision of allowance for credit loss | 44 | 1 | ₩ 3 | ||
Other expenses | 52 | 92 | 100 | ||
Interest expense | 3 | 2 | 3 | ||
Interest income | 141 | 80 | ₩ 70 | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Unused loan commitment | ₩ 627 | ₩ 835 | |||
Description of nature of related party relationship | Associates | Associates | Associates | Associates | |
LOTTE CARD Co., Ltd. | |||||
Outstanding balances for related party transactions [abstract] | |||||
Loans | ₩ 50,000 | ₩ 3,750 | |||
Deposits due to customers | 35,986 | 13,482 | |||
Loss allowance | (30) | (39) | |||
Account receivables | 16 | 0 | |||
Other assets | 0 | 10 | |||
Other liabilities | 74 | 91 | |||
Related party transactions [abstract] | |||||
Interest income | 83 | 196 | ₩ 311 | ||
Provision of allowance for credit loss | (27) | (59) | 171 | ||
Interest expense | 1,902 | 462 | 68 | ||
Fees income | 7,701 | 10,248 | ₩ 2,748 | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Unused loan commitment | ₩ 450,000 | ₩ 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 | ₩ 3 | ₩ 99 | |||
Account receivables | 31 | 29 | |||
Other liabilities | 108,156 | 84,935 | |||
Related party transactions [abstract] | |||||
Fees expenses | 937 | 636 | ₩ 0 | ||
Fees income | 698 | 1,952 | ₩ 1,763 | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Unused loan commitment | ₩ 297 | ₩ 201 | |||
Description of nature of related party relationship | Associates | Associates | Associates | Associates | |
Chin Hung International Inc. | |||||
Related party transactions [abstract] | |||||
Provision of allowance for credit loss | ₩ 0 | ₩ 0 | ₩ (145) | ||
Interest expense | ₩ 0 | ₩ 0 | ₩ 19 | ||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Description of nature of related party relationship | Associates | Associates | Associates | Associates | |
Well to Sea No.3 Private Equity Fund | |||||
Related party transactions [abstract] | |||||
Provision of allowance for credit loss | ₩ 0 | ₩ 0 | ₩ (55) | ||
Interest expense | 0 | 0 | 5 | ||
Interest income | ₩ 0 | ₩ 0 | ₩ 1,883 | ||
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] | ₩ 68,660 | ₩ 73,940 | ||
Deposits due to customers | [1] | 3,622 | 1,063 | ||
Loss allowance | [1] | (34) | (124) | ||
Other assets | [1] | 768 | 739 | ||
Other liabilities | [1] | 119 | 3 | ||
Related party transactions [abstract] | |||||
Other income | [2] | 0 | 0 | ₩ 16 | |
Provision of allowance for credit loss | [2] | 92 | 2 | 0 | |
Interest expense | [2] | 10 | 17 | 28 | |
Fees income | [2] | 7,138 | 5,546 | 2,677 | |
Dividend income | [2] | 0 | 0 | 52 | |
Interest income | [2] | 713 | 679 | 0 | |
Provision of impairment losses due to credit loss | [2] | ₩ 1 | ₩ 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, 2021 and 2022. | 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, 2021 and 2022. | 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, 2021 and 2022. | ||
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, 2021 and 2022. | 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, 2021 and 2022. | 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, 2021 and 2022. | 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, 2021 and 2022. | |
IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership | |||||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Open interest | ₩ 4,664 | ₩ 4,664 | |||
WooriG Senior Loan General Type Private Investment Trust No.1 [Member] | |||||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Open interest | 0 | 14,284 | |||
Woori Seoul Beltway Private Special Asset Fund | |||||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Open interest | 37,146 | 39,458 | |||
Woori-Q Corporate Restructuring Private Equity Fund | |||||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Open interest | 12,555 | 11,109 | |||
Union Technology Finance Investment Association | |||||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Open interest | 0 | 2,250 | |||
Genesis Eco No.1 Private Equity Fund [Member] | |||||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Open interest | 0 | 195 | |||
Genesis Environmental Energy Company 1st Private Equity Fund | |||||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Open interest | 0 | 916 | |||
JC Assurance No.2 Private Equity Fund | |||||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Open interest | 1,351 | 1,351 | |||
Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund | |||||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Open interest | 325 | 425 | |||
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 | 39 | 669 | |||
Together Korea Government Private Securities Investment Trust No.3 [Member] | |||||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Open interest | 990,000 | 0 | |||
STASSETS FUND III [Member] | |||||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Open interest | 13,500 | 0 | |||
BTS 2nd Private Equity Fund [Member] | |||||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Open interest | 6,974 | 0 | |||
DCustody Co., Ltd. [Member] | |||||
Disclosure of outstanding commitments made by entity related party transactions [Abstract] | |||||
Unused loan commitment | ₩ 10 | ₩ 0 | |||
[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, 2021 and 2022.[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, 2021 and 2022. |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||||
W Service Networks Co., Ltd. | ||||||
Reconciliation of changes in finance agreements to related parties [Abstract] | ||||||
Beginning balance | ₩ 20 | [1] | ₩ 21 | [1] | ₩ 23 | |
Changes in finance agreements to related parties [Abstract] | ||||||
Loan | 352 | 248 | 337 | |||
Collection | 252 | 249 | 339 | |||
Others | 0 | 0 | ||||
Ending balance | [1] | 120 | 20 | 21 | ||
Korea Credit Bureau Co., Ltd. | ||||||
Reconciliation of changes in finance agreements to related parties [Abstract] | ||||||
Beginning balance | 2 | [1] | 1 | [1] | 3 | |
Changes in finance agreements to related parties [Abstract] | ||||||
Loan | 15 | 11 | 17 | |||
Collection | 15 | 10 | 19 | |||
Others | 0 | 0 | ||||
Ending balance | [1] | 2 | 2 | 1 | ||
Korea Finance Security Co., Ltd. | ||||||
Reconciliation of changes in finance agreements to related parties [Abstract] | ||||||
Beginning balance | 3,425 | [1] | 3,440 | [1] | 1,860 | |
Changes in finance agreements to related parties [Abstract] | ||||||
Loan | 2,407 | 333 | 2,133 | |||
Collection | 2,399 | 348 | 553 | |||
Others | 0 | 0 | ||||
Ending balance | [1] | 3,433 | 3,425 | 3,440 | ||
LOTTE CARD Co., Ltd. | ||||||
Reconciliation of changes in finance agreements to related parties [Abstract] | ||||||
Beginning balance | 3,750 | [1] | 7,500 | [1] | 7,500 | |
Changes in finance agreements to related parties [Abstract] | ||||||
Loan | 50,000 | 0 | 0 | |||
Collection | 3,750 | 3,750 | 0 | |||
Others | 0 | 0 | ||||
Ending balance | [1] | 50,000 | 3,750 | 7,500 | ||
K BANK Co., Ltd. | ||||||
Reconciliation of changes in finance agreements to related parties [Abstract] | ||||||
Beginning balance | 99 | [1] | 104 | [1] | 141 | |
Changes in finance agreements to related parties [Abstract] | ||||||
Loan | 315 | 1,769 | 1,942 | |||
Collection | 411 | 1,774 | 1,979 | |||
Others | 0 | 0 | ||||
Ending balance | [1] | 3 | 99 | 104 | ||
Well to Sea No.3 Private Equity Fund | ||||||
Reconciliation of changes in finance agreements to related parties [Abstract] | ||||||
Beginning balance | 0 | [1] | 4,490 | |||
Changes in finance agreements to related parties [Abstract] | ||||||
Loan | 0 | |||||
Collection | 4,490 | |||||
Ending balance | [1] | 0 | ||||
Godo Kaisha Oceanos 1 [Member] | ||||||
Reconciliation of changes in finance agreements to related parties [Abstract] | ||||||
Beginning balance | 43,033 | [1] | 44,036 | |||
Changes in finance agreements to related parties [Abstract] | ||||||
Loan | 41,467 | 0 | ||||
Collection | 43,033 | 0 | ||||
Others | (1,653) | (1,003) | ||||
Ending balance | 39,814 | [1] | 43,033 | [1] | 44,036 | |
Woori Zip 1 [Member] | ||||||
Reconciliation of changes in finance agreements to related parties [Abstract] | ||||||
Beginning balance | 12,775 | [1] | 0 | |||
Changes in finance agreements to related parties [Abstract] | ||||||
Loan | 0 | 13,121 | ||||
Collection | 0 | 0 | ||||
Others | (956) | (346) | ||||
Ending balance | 11,819 | [1] | 12,775 | [1] | 0 | |
Woori Zip 2 [Member] | ||||||
Reconciliation of changes in finance agreements to related parties [Abstract] | ||||||
Beginning balance | 18,132 | [1] | 0 | |||
Changes in finance agreements to related parties [Abstract] | ||||||
Loan | 0 | 18,624 | ||||
Collection | 0 | 0 | ||||
Others | (1,356) | (492) | ||||
Ending balance | 16,776 | [1] | 18,132 | [1] | ₩ 0 | |
Central Network Solutions Co., Ltd. [Member] | ||||||
Reconciliation of changes in finance agreements to related parties [Abstract] | ||||||
Beginning balance | 0 | |||||
Changes in finance agreements to related parties [Abstract] | ||||||
Loan | 251 | |||||
Collection | 0 | |||||
Others | 0 | |||||
Ending balance | ₩ 251 | [1] | ₩ 0 | |||
[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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||||
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 | 1,200 | 1,180 | 1,180 | |||
Decrease | 1,180 | 1,180 | 1,180 | |||
Ending balance | [1] | 1,200 | 1,180 | 1,180 | ||
Chin Hung International Inc. | ||||||
Reconciliation of changes in finance agreements from related parties [Abstract] | ||||||
Beginning balance | 0 | [1] | 400 | |||
Changes in finance agreements from related parties [Abstract] | ||||||
Increase | 0 | |||||
Decrease | 400 | |||||
Ending balance | [1] | 0 | ||||
Partner One Value Up I Private Equity Fund | ||||||
Reconciliation of changes in finance agreements from related parties [Abstract] | ||||||
Beginning balance | 329 | [1] | 863 | [1] | 1,150 | |
Changes in finance agreements from related parties [Abstract] | ||||||
Increase | 550 | 637 | 1,737 | |||
Decrease | 779 | 1,171 | 2,024 | |||
Ending balance | [1] | 100 | 329 | 863 | ||
Korea Credit Bureau Co., Ltd. | ||||||
Reconciliation of changes in finance agreements from related parties [Abstract] | ||||||
Beginning balance | 0 | [1] | 1,000 | [1] | 0 | |
Changes in finance agreements from related parties [Abstract] | ||||||
Increase | 3,000 | 0 | 1,000 | |||
Decrease | 0 | 1,000 | 0 | |||
Ending balance | [1] | ₩ 3,000 | ₩ 0 | ₩ 1,000 | ||
[1]Details of payment between related parties, demand deposit due to customers and etc. are excluded. |
Related Party transactions - Ma
Related Party transactions - Major investment and Recovery transactions (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
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 | ₩ 0 | 2,000 |
Recovery and others | 1,951 | |
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 | 630 | 831 |
Recovery and others | 0 | |
WooriG Public Offering stock 10 securities Investment Trust [Bond mixed] C(F) | ||
Schedule of major investment and recovery transactions with related parties [Line Items] | ||
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] | ||
Recovery and others | ₩ 1,306 | |
Woori Two year Bond Securities Investment Trust 3 (Bond) | ||
Schedule of major investment and recovery transactions with related parties [Line Items] | ||
Investment and others | 0 | |
Recovery and others | 209 | |
Woori 2024 December Maturity Securities Investment Trust 1 (Bond) | ||
Schedule of major investment and recovery transactions with related parties [Line Items] | ||
Investment and others | 200 | |
Recovery and others | 0 | |
Woori MULTI RETURN PRIVATE EQUITY 1 | ||
Schedule of major investment and recovery transactions with related parties [Line Items] | ||
Investment and others | 0 | |
Recovery and others | 8,559 | |
Woori BIG SATISFACTION SHINJONG MMF 3RD | ||
Schedule of major investment and recovery transactions with related parties [Line Items] | ||
Investment and others | 320,000 | |
Recovery and others | 0 | |
Woori 2024 Maturity Securities Investment Trust 1 (Bond) | ||
Schedule of major investment and recovery transactions with related parties [Line Items] | ||
Investment and others | 200 | |
Recovery and others | 0 | |
Woori 2023 Maturity Securities Investment Trust (Bond) | ||
Schedule of major investment and recovery transactions with related parties [Line Items] | ||
Investment and others | 200 | |
Recovery and others | 0 | |
Woori K New Opening Target Return Securities Investment Trust (Equity) | ||
Schedule of major investment and recovery transactions with related parties [Line Items] | ||
Investment and others | 200 | |
Recovery and others | 0 | |
Woori Republic of Korea Treasury Bond Active ETF (Bond) | ||
Schedule of major investment and recovery transactions with related parties [Line Items] | ||
Investment and others | 3,000 | |
Recovery and others | 0 | |
Woori China Mainland Stock Securities Investment Trust H (Securities) | ||
Schedule of major investment and recovery transactions with related parties [Line Items] | ||
Investment and others | 0 | |
Recovery and others | 443 | |
Woori Two year Bond Securities Investment Trust 2 (Bond) | ||
Schedule of major investment and recovery transactions with related parties [Line Items] | ||
Investment and others | 0 | |
Recovery and others | 213 | |
Woori BANKPLUS IPO 10 FEEDER FUND 2 (BALANCED BOND) | ||
Schedule of major investment and recovery transactions with related parties [Line Items] | ||
Investment and others | 200 | |
Recovery and others | 0 | |
Woori High Plus Bond Sec Feeder Inv Trust 3 (USD) | ||
Schedule of major investment and recovery transactions with related parties [Line Items] | ||
Investment and others | 0 | |
Recovery and others | 1,052 | |
Woori High Plus Short-term High Graded ESG Bond Sec Feeder Inv Trust1 | ||
Schedule of major investment and recovery transactions with related parties [Line Items] | ||
Investment and others | 0 | |
Recovery and others | ₩ 21,606 |
Related Party Transactions - _4
Related Party Transactions - Summary of Compensation for Key Management (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of amounts incurred by entity for provision of key management personnel services provided by separate management entities [abstract] | |||
Short-term employee salaries | ₩ 21,990 | ₩ 20,742 | ₩ 22,778 |
Retirement benefit service costs | 937 | 815 | 910 |
Share-based compensation | 4,234 | 6,970 | 3,519 |
Total | 27,161 | 28,527 | ₩ 27,207 |
Outstanding assets from transactions with key management | 3,620 | 3,821 | |
Outstanding liabilities from transaction with key management | ₩ 12,660 | ₩ 11,542 | |
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 | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Undiscounted finance lease payments to be received | ₩ 1,627,328 | ₩ 1,298,516 |
Net investment in lease | 1,467,768 | 1,173,565 |
Within one year | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Undiscounted finance lease payments to be received | 160,181 | 70,740 |
Net investment in lease | 146,749 | 69,030 |
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 | 231,075 | 133,398 |
Net investment in lease | 215,497 | 124,904 |
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 | 366,599 | 239,895 |
Net investment in lease | 338,709 | 218,911 |
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 | 501,034 | 367,991 |
Net investment in lease | 452,099 | 331,685 |
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 | 368,420 | 486,490 |
Net investment in lease | 314,696 | 429,034 |
After five years | ||
Disclosure of maturity analysis of finance lease payments receivable [line items] | ||
Undiscounted finance lease payments to be received | 19 | 2 |
Net investment in lease | ₩ 18 | ₩ 1 |
Leases - Summary of Unrealized
Leases - Summary of Unrealized Interest Income of the Finance Lease (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Reconciliation of undiscounted lease payments to net investment in finance lease [abstract] | ||
Total investment in lease | ₩ 1,627,328 | ₩ 1,298,516 |
Net investment in lease | 1,467,768 | 1,173,565 |
Present value of minimum lease payments | 1,467,768 | 1,173,565 |
Present value of unguaranteed residual value | 0 | 0 |
Unearned interest income | ₩ 159,560 | ₩ 124,951 |
Leases - Summary of Operating L
Leases - Summary of Operating Lease Assets (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of assets subject to operating lease [Line Items] | ||
Operating lease assets | ₩ 2,593,578 | ₩ 1,782,887 |
Gross Carrying Amount | Prepaid lease assets [Member] | ||
Disclosure of assets subject to operating lease [Line Items] | ||
Operating lease assets | 3,121 | 4,579 |
Carrying Amount | Operating lease assets [Member] | ||
Disclosure of assets subject to operating lease [Line Items] | ||
Operating lease assets | 2,590,457 | 1,778,308 |
Acquisition cost | Operating lease assets [Member] | ||
Disclosure of assets subject to operating lease [Line Items] | ||
Operating lease assets | 3,320,275 | 2,299,968 |
Accumulated depreciation | Operating lease assets [Member] | ||
Disclosure of assets subject to operating lease [Line Items] | ||
Operating lease assets | ₩ (729,818) | ₩ (521,660) |
Leases - Summary of Changes in
Leases - Summary of Changes in Assets Subject to Operating Lease (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Changes In Assets Subject To Operating Lease [Abstract] | |||
Beginning balance | ₩ 1,778,308 | ₩ 1,116,175 | |
Acquisition | 1,321,251 | 984,093 | |
Depreciation | (388,895) | (250,971) | ₩ (52,504) |
Disposal | (138,189) | (93,138) | |
Others | 17,982 | 22,149 | |
Ending balance | ₩ 2,590,457 | ₩ 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 | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of maturity analysis of operating lease payments [line items] | ||
Future lease payments to be received under the lease contracts | ₩ 1,876,827 | ₩ 1,236,814 |
Within one year | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Future lease payments to be received under the lease contracts | 567,998 | 377,153 |
After one year but within two years | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Future lease payments to be received under the lease contracts | 526,899 | 347,539 |
After two years but within three years | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Future lease payments to be received under the lease contracts | 420,244 | 262,176 |
After three years but within four years | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Future lease payments to be received under the lease contracts | 275,080 | 170,391 |
After four years but within five years | ||
Disclosure of maturity analysis of operating lease payments [line items] | ||
Future lease payments to be received under the lease contracts | ₩ 86,606 | ₩ 79,555 |
Leases - Summary of Future Le_2
Leases - Summary of Future Lease Payments for the Lease Contracts (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure Of Maturity Analysis Of Lease Payments Of Lessee [Line Items] | ||
Future lease payments under the lease contracts | ₩ 355,933 | ₩ 345,241 |
Within one year | ||
Disclosure Of Maturity Analysis Of Lease Payments Of Lessee [Line Items] | ||
Future lease payments under the lease contracts | 170,781 | 151,259 |
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 | 152,145 | 155,707 |
After five years | ||
Disclosure Of Maturity Analysis Of Lease Payments Of Lessee [Line Items] | ||
Future lease payments under the lease contracts | ₩ 33,007 | ₩ 38,275 |
Leases - Summary of Cash Outflo
Leases - Summary of Cash Outflows From Lease (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of quantitative information about leases for lessee [abstract] | ||
Cash outflows from lease | ₩ 192,540 | ₩ 180,884 |
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, 2022 | Dec. 31, 2021 | |
Disclosure of quantitative information about leases for lessee [abstract] | ||
Lease payments for short-term leases | ₩ 1,469 | ₩ 1,598 |
Lease payments for which the underlying asset is of low value | 1,316 | 1,488 |
Total | ₩ 2,785 | ₩ 3,086 |
Leases - Details of Practical E
Leases - Details of Practical Expedient for COVID 19 Related Rent Concessions (Details) ₩ in Millions | 12 Months Ended |
Dec. 31, 2022 KRW (₩) | |
Disclosure of practical expedient for COVID-19 related rent concessions [Abstract] | |
Amount recognized in profit or loss related to rent concessions | ₩ 15,880 |
Operating Segments - Details _2
Operating Segments - Details by reporting segment Parentheticals (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of operating segments [line items] | |||
Reclassification of deposit Insurance premiums from net interest income expense to non interest income expense | ₩ 423,834 | ₩ 406,276 | ₩ 371,054 |
Reclassification of fund contributuion fees from net interest income expense to non interest income expense | 402,057 | 367,961 | 327,911 |
Consolidated Adjustments [Member] | |||
Disclosure of operating segments [line items] | |||
Dividend received by the holding company from the subsidiary company | 1,272,393 | 692,605 | 680,375 |
Consolidated Adjustments [Member] | Woori FIS Co Ltd [Member] | |||
Disclosure of operating segments [line items] | |||
Related party transaction interest income | ₩ 300,297 | ₩ 274,768 | ₩ 252,922 |
Risk management - Interest Rate
Risk management - Interest Rate Benchmark Reform (Details) - KRW (₩) | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of quantitative information about financial instruments that have yet to transition to alternative benchmark rate [line items] | ||
Notional amount | ₩ 389,338,520,000,000 | ₩ 390,720,160,000,000 |
Woori Financial Capital Co., Ltd. [Member] | Significant interest rate benchmarks subject to interest rate benchmark reform [member] | Cash flow hedges [member] | KRW Three CD [Member] | ||
Disclosure of quantitative information about financial instruments that have yet to transition to alternative benchmark rate [line items] | ||
Notional amount | 40,000,000,000 | |
Woori card [Member] | Significant interest rate benchmarks subject to interest rate benchmark reform [member] | Cash flow hedges [member] | Three Month LIBOR [Member] | ||
Disclosure of quantitative information about financial instruments that have yet to transition to alternative benchmark rate [line items] | ||
Notional amount | 100,000,000 | |
Woori card [Member] | Significant interest rate benchmarks subject to interest rate benchmark reform [member] | Cash flow hedges [member] | One Month LIBOR [Member] | ||
Disclosure of quantitative information about financial instruments that have yet to transition to alternative benchmark rate [line items] | ||
Notional amount | ₩ 270,000,000 |
Business combination - Details
Business combination - Details of Business combination (Details) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2022 KRW (₩) shares | Aug. 31, 2022 shares | |
Disclosure of detailed information about business combination [line items] | ||
Shares Acquired | shares | 2,193,552,006 | 2,673,995,362 |
PT Woori Finance Indonesia Tbk. | ||
Disclosure of detailed information about business combination [line items] | ||
Percentage of Shares Acquired | 82.03% | |
Consolidated Income | ₩ 1,856,941 | |
Consolidated Net Income | ₩ 207,495 |
Business combination - Summary
Business combination - Summary of the acquisition date, the transfer price, acquisition assets, liabilities, and non-controlling interests related to the business combination (Details) ₩ in Millions | Dec. 31, 2022 KRW (₩) | |
Fair value of transfer price | ||
Cash | ₩ 130,424 | |
Amount recognized as assets and liabilities | ||
Cash and Cash equivalents | 5,607 | |
Financial assets at amortized cost | 95,587 | |
Other assets | 24,096 | |
Borrowings | 25,932 | |
Other liabilities | 10,150 | |
Fair value of identifiable net assets | 89,208 | |
Non-controlling interest | 16,453 | [1] |
Goodwill | ₩ 57,670 | |
[1]Represents amount of a proportionate interest of the fair value of indentifiable net assets. |
Events after the Reporting Pe_2
Events after the Reporting Period - Additional Information (Details) $ in Thousands, ₩ in Millions | 12 Months Ended | ||||
Feb. 27, 2023 KRW (₩) | Dec. 31, 2022 KRW (₩) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 KRW (₩) | Dec. 31, 2020 KRW (₩) | |
Disclosure of non-adjusting events after reporting period [line items] | |||||
Stock sale contract | ₩ 0 | $ 0 | ₩ 0 | ₩ 313,058 | |
Daol Investment Co Ltd [Member] | Major ordinary share transactions [member] | |||||
Disclosure of non-adjusting events after reporting period [line items] | |||||
Stock sale contract | ₩ 212,500 | ||||
Percentage of stock acquire | 52% |