| 22. | Derivative Instruments |
(1) Currency and interest rate swap contracts under cash flow hedge accounting as of December 31, 2017 are as follows:
| (In millions of won and thousands of foreign currencies) | ||||||||
|
Borrowing |
Hedging Instrument(Hedged item) |
Hedged risk |
Financial |
Duration of |
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|
Jul. 20, 2007 |
Fixed-to-fixed cross currency swap (U.S. dollar denominated bonds face value of USD 400,000) |
Foreign currency risk | Morgan Stanley and four other banks | Jul. 20, 2007 ~ Jul. 20, 2027 |
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|
Nov. 1, 2012 |
Fixed-to-fixed cross currency swap (U.S. dollar denominated bonds face value of USD 700,000) |
Foreign currency risk | Standard Chartered and eight other banks | Nov. 1, 2012~ May. 1, 2018 | ||||
|
Mar. 7, 2013 |
Floating-to-fixed cross currency interest rate swap (U.S. dollar denominated bonds face value of USD 300,000) |
Foreign currency risk and interest rate risk | DBS bank | Mar. 7, 2013 ~ Mar. 7, 2020 | ||||
|
Oct. 29, 2013 |
Fixed-to-fixed cross currency swap (U.S. dollar denominated bonds face value of USD 300,000) |
Foreign currency risk | Korea Development Bank and others | Oct. 29, 2013 ~ Oct. 26, 2018 | ||||
|
Dec. 16, 2013 |
Fixed-to-fixed cross currency swap (U.S. dollar borrowing amounting to USD 51,775) |
Foreign currency risk | Deutsche bank | Dec. 16, 2013 ~ Apr. 29, 2022 | ||||
|
Dec. 20, 2016 |
Floating-to-fixed interest rate swap (Korean won borrowing amounting to KRW 49,000) |
Interest rate risk | Korea Development Bank |
Dec. 20, 2016~ Dec. 20, 2021 |
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|
Jan. 30, 2017 |
Floating-to-fixed interest rate swap (Korean won borrowing amounting to KRW 28,583) |
Interest rate risk | Korea Development Bank |
Nov. 10, 2016~ Jul. 30, 2019 |
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|
Mar. 31, 2017 |
Floating-to-fixed interest rate swap (Korean won borrowing amounting to KRW 30,000) |
Interest rate risk | Korea Development Bank |
Mar. 31, 2017- Mar. 31, 2020 |
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|
Dec. 21, 2017 |
Floating-to-fixed interest rate swap (Korean won borrowing amounting to KRW 50,000) |
Interest rate risk | Korea Development Bank |
Dec. 5, 2017- Dec. 21, 2022 |
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| (2) | As of December 31, 2017, details of fair values of the above derivatives recorded in assets or liabilities are as follows: |
| (In millions of won and thousands of foreign currencies) | ||||||||||||||||
|
Hedging instrument(Hedged item) |
Cash flow hedge |
Held for trading |
Embedded derivatives |
Fair value | ||||||||||||
|
Non-current assets: |
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|
Redeemable convertible preferred shares issued by Bluehole INC. |
￦ | — | — | 222,257 | 222,257 | |||||||||||
|
Structured bond(face value of KRW 50,000) |
— | 9,054 | — | 9,054 | ||||||||||||
|
Fixed-to-fixed cross currency swap (U.S. dollar denominated bonds face value of USD 400,000) |
21,554 | — | — | 21,554 | ||||||||||||
|
Floating-to-fixed interest rate swap (Korean won borrowing amounting to KRW 49,000) |
307 | — | — | 307 | ||||||||||||
|
Floating-to-fixed interest rate swap (Korean won borrowing amounting to KRW 28,583) |
43 | — | — | 43 | ||||||||||||
|
Floating-to-fixed interest rate swap (Korean won borrowing amounting to KRW 50,000) |
(2 | ) | — | — | (2 | ) | ||||||||||
|
|
|
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|
Total assets |
￦ | 253,213 | ||||||||||||||
|
|
|
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|
Current liabilities: |
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|
Fixed-to-fixed cross currency swap (U.S. dollar denominated bonds face value of USD 700,000) |
￦ | (27,791 | ) | — | — | (27,791 | ) | |||||||||
|
Fixed-to-fixed cross currency swap (U.S. dollar denominated bonds face value of USD 300,000) |
(615 | ) | — | — | (615 | ) | ||||||||||
|
Non-current liabilities: |
||||||||||||||||
|
Floating-to-fixed cross currency interest rate swap (U.S. dollar denominated bonds face value of USD 300,000) |
(7,613 | ) | — | — | (7,613 | ) | ||||||||||
|
Fixed-to-fixed long-term borrowings (U.S. dollar borrowing amounting to USD 51,775) |
(3,106 | ) | — | — | (3,106 | ) | ||||||||||
|
Floating-to-fixed interest rate swap (Korean won borrowing amounting to KRW 30,000) |
(345 | ) | — | — | (345 | ) | ||||||||||
|
|
|
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|
Total liabilities |
￦ | (39,470 | ) | |||||||||||||
|
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