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:DisclosureOfInvestmentPropertyExplanatory

    11. Investment Properties

    Changes in investment properties for the years ended December 31, 2016 and 2017, are as follows:

     

    (In millions of Korean won)    2016  
       Land     Buildings     Construction-in-
    progress
        Total  

    Acquisition cost

       340,790     1,011,236     74,208     1,426,234  

    Less: Accumulated depreciation

         —         (324,164     —         (324,164
      

     

     

       

     

     

       

     

     

       

     

     

     

    Beginning

         340,790       687,072       74,208       1,102,070  

    Acquisition

         51       417       160,138       160,606  

    Disposal/Abandonment

         (5,837     (1,802     —         (7,639

    Depreciation

         —         (43,575     —         (43,575

    Transfer

         (32,254     124,417       (155,581     (63,418
      

     

     

       

     

     

       

     

     

       

     

     

     

    Ending

       302,750     766,529     78,765     1,148,044  
      

     

     

       

     

     

       

     

     

       

     

     

     

    Acquisition cost

       302,750     1,119,885     78,765     1,501,400  

    Less: Accumulated depreciation

         —       (353,356     —       (353,356

     

    (In millions of Korean won)    2017  
       Land     Buildings    

    Construction-in-

    progress

        Total  

    Acquisition cost

       302,750     1,119,885     78,765     1,501,400  

    Less: Accumulated depreciation

         —         (353,356     —         (353,356
      

     

     

       

     

     

       

     

     

       

     

     

     

    Beginning

         302,750       766,529       78,765       1,148,044  

    Acquisition

         —         775       48,075       48,850  

    Disposal/Abandonment

         (3,493     (6,434     —         (9,927

    Depreciation

         —         (47,295     —         (47,295

    Transfer from(to) property, plant and equipment

         64,449       (1,793     (1,184     61,472  

    Transfer and others

         (6,916     80,986       (85,683     (11,613
      

     

     

       

     

     

       

     

     

       

     

     

     

    Ending

       356,790     792,768     39,973     1,189,531  
      

     

     

       

     

     

       

     

     

       

     

     

     

    Acquisition cost

       358,358     1,191,687     39,973     1,590,018  

    Less: Accumulated depreciation

    (include. Accumulated impairment)

         (1,568     (398,919     —         (400,487

    The fair value of investment properties is 1,755,600 million as of December 31, 2017 (2016: 1,962,779 million). The fair value of investment properties is estimated based on the expected cash flow.

    Rental income from investment properties is 205,993 million in 2017 (2016: 184,670 million) and direct operating expenses (including repairs and maintenance) arising from investment properties that generated rental income during the period are recognized as operating expenses.

    Details of investment properties provided as collateral as of December 31, 2016 and 2017, are as follows:

     

    (In millions of Korean won)    2016  
         Carrying
    amount
         Secured
    amount
         Related
    account
       Related
    amount
     

    Buildings

       711,989      98,543      Deposits    84,334  

    Land and Buildings

       8,035      7,891      Borrowings    5,260  

     

    (In millions of Korean won)    2017  
         Carrying
    amount
         Secured
    amount
         Related
    account
       Related
    amount
     

    Buildings

       772,708      104,861      Deposits    90,150  

    Land and Buildings

       7,897      7,905      Borrowings    5,270