Financial Instruments by Categories (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of detailed information about financial instruments [abstract]

Summary of the Financial Instruments

Financial Instruments as of December 31, 2023, by categories are as follows:


														(Unit: USD)
		As of December 31, 2023
Assets in Financial Position		Financial assets at amortized cost				Financial assets at fair value through profit and loss				Others				Total
Cash and cash equivalents			476,715				—				—				476,715
Trade receivables			4,176,766				—				—				4,176,766
Other current financial assets			73,284				—				—				73,284
Non-current financial assets			—				107,862				—				107,862
Lease deposits			186,573				—				—				186,573
Other deposits			—				—				—				—

Total			4,913,338				107,862				—				5,021,200


														(Unit: USD)
		As of December 31, 2023
Liabilities in Financial Position		Financial assets at amortized cost				Financial assets at fair value through profit and loss				Others				Total
Trade payables			6,220,562				—				—				6,220,562
Short-term borrowings			13,511,319				—				—				13,511,319
Convertible Bonds(*)			1,961,792				—				—				1,961,792
Current portion of long-term borrowings			1,620,136				—				—				1,620,136
Current portion of lease liabilities			165,294				—				—				165,294
Long-term borrowings			4,864,373				—				—				4,864,373
Derivative warrant liabilities			—				—				2,018,349				2,018,349
Long-term lease liabilities			13,943				—				—				13,943

Total			28,357,419				—				2,018,349				30,375,768

(*)	On March 23, 2023, the Company issued a convertible bond (“CB”) to Charm Savings Bank in an aggregate principal amount of $1,931,203, equivalent to KRW 2,500,000,000. The CB accrues interest at an annual rate of 10% and is due to mature on March 23, 2024.

Financial Instruments as of December 31, 2022, by categories are as follows:


														(Unit: USD)
		As of December 31, 2022
Assets in Financial Position		Financial assets at amortized cost				Financial assets at fair value through profit and loss				Others				Total
Cash and cash equivalents			196,627				—				—				196,627
Trade receivables			697,999				—				—				697,999
Other current financial assets			1,035,930				—				—				1,035,930
Non-current financial assets			—				107,890				—				107,890
Lease deposits			207,825				—				—				207,825
Other deposits			4,307,756				—				—				4,307,756

Total			6,446,137				107,890				—				6,554,027


														(Unit: USD)
		As of December 31, 2022
Liabilities in Financial Position		Financial assets at amortized cost				Financial assets at fair value through profit and loss				Others				Total
Trade payables			7,184,181				—				—				7,184,181
Short-term borrowings			11,863,506				—				—				11,863,506
Current portion of long-term borrowings			2,001,142				—				—				2,001,142
Current portion of lease liabilities			108,488				—				—				108,488
Long-term borrowings			4,741,358				—				—				4,741,358
Leasehold deposit received			69,836				—				—				69,836
Long-term lease liabilities			24,694				—				—				24,694

Total			25,993,205				—				—				25,993,205