KT CORP | CIK:0000892450 |

Filed: 4/30/2018

Entity registrant name: KT CORP (CIK: 0000892450)

Generator: Donnelley Financial Solutions

SEC filing page: http://www.sec.gov/Archives/edgar/data/892450/000119312518141554/0001193125-18-141554-index.htm

XBRL Instance: http://www.sec.gov/Archives/edgar/data/892450/000119312518141554/kt-20171231.xml

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20.

Lease

The Group’s non-cancellable lease arrangements are as follows:

The Group as the Lessee

Finance Lease

Details of finance lease assets as of December 31, 2016 and 2017, are as follows:

 

(in millions of Korean won)		2016				2017
Acquisition costs		￦	298,631			￦	325,975
Less: Accumulated depreciation			(105,013	)			(126,091	)
Net balance		￦	193,618			￦	199,884

As of December 31, 2017, the Group recognized financial lease assets as other property and equipment. The related depreciation amounted to ￦58,535 million (2016: ￦50,704 million) for the year ended December 31, 2017.

 

Details of future minimum lease payments As of December 31, 2016 and 2017, under finance lease contracts are summarized below:

 

(in millions of Korean won)		2016				2017
Total amount of minimum lease payments
Within one year		￦	79,644			￦	88,441
From one year to five years			131,813				132,113
More than five years			—				81
			211,457				220,635
Unrealized interest expense			30,743				43,758
Net amount of minimum lease payments
Within one year			64,008				68,651
From one year to five years			116,706				108,146
More than five years			—				80
Total		￦	180,714			￦	176,877

Operating Lease

Details of future minimum lease payments As of December 31, 2016 and 2017, under operating lease contracts are summarized below:

 

Operating lease expenses incurred for the years ended December 31, 2015, 2016 and 2017, amounted to ￦111,776 million, ￦121,852 million and ￦126,250 million, respectively.