KT CORP | CIK:0000892450 | 3

  • 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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  • ifrs-full:DisclosureOfLeasesExplanatory

    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:

     

    (in millions of Korean won)    2016      2017  

    Within one year

       ₩ 102,015      ₩ 109,258  

    From one year to five years

         270,462        266,434  

    Thereafter

         16,549        1,635  
      

     

     

        

     

     

     

    Total

       ₩ 389,026      ₩ 377,327  
      

     

     

        

     

     

     

    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.