| Statements of Cash Flows |
| |
(1) |
Adjustments for income and expenses from operating activities for the years ended December 31, 2025, 2024 and 2023 are as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Interest income |
|
₩ |
(73,064 |
) |
|
|
(87,245 |
) |
|
|
(70,055 |
) |
| Dividends |
|
|
(57,060 |
) |
|
|
(35,818 |
) |
|
|
(43,014 |
) |
| Gain on foreign currency translations |
|
|
(3,671 |
) |
|
|
(9,344 |
) |
|
|
(1,199 |
) |
| Gain (loss) relating to investments in subsidiaries, associates and joint ventures, net |
|
|
63,602 |
|
|
|
(321,787 |
) |
|
|
(10,928 |
) |
| Gain on disposal of property and equipment and intangible assets |
|
|
(127,058 |
) |
|
|
(37,316 |
) |
|
|
(21,898 |
) |
| Gain relating to financial instruments at FVTPL |
|
|
(58,256 |
) |
|
|
(190,368 |
) |
|
|
(115,043 |
) |
| Other finance costs |
|
|
23,367 |
|
|
|
— |
|
|
|
— |
|
| Interest expense |
|
|
383,194 |
|
|
|
403,129 |
|
|
|
389,813 |
|
| Loss on foreign currency translations |
|
|
3,029 |
|
|
|
3,575 |
|
|
|
1,227 |
|
| Loss on repayment of debentures |
|
|
468 |
|
|
|
— |
|
|
|
— |
|
| Loss on sale of accounts receivables-other |
|
|
17,513 |
|
|
|
35,317 |
|
|
|
65,027 |
|
| Income tax expense |
|
|
347,177 |
|
|
|
374,670 |
|
|
|
342,242 |
|
| Expense related to defined benefit plan |
|
|
120,568 |
|
|
|
130,581 |
|
|
|
124,439 |
|
| Share option expenses (reversal) |
|
|
(744 |
) |
|
|
6,696 |
|
|
|
18,889 |
|
| Bonus paid by treasury shares |
|
|
262 |
|
|
|
24,988 |
|
|
|
20,420 |
|
| Depreciation and amortization |
|
|
3,590,217 |
|
|
|
3,699,890 |
|
|
|
3,750,796 |
|
| Bad debt for accounts receivables - trade |
|
|
44,183 |
|
|
|
49,865 |
|
|
|
37,906 |
|
| Loss on disposal of property and equipment and intangible assets |
|
|
15,296 |
|
|
|
17,427 |
|
|
|
9,369 |
|
| Impairment loss on property and equipment and intangible assets |
|
|
3,140 |
|
|
|
94,736 |
|
|
|
10,369 |
|
| Impairment loss on assets held for sale |
|
|
12,320 |
|
|
|
— |
|
|
|
— |
|
| Bad debt for accounts receivable – other |
|
|
3,282 |
|
|
|
4,838 |
|
|
|
5,256 |
|
| Loss relating to financial instruments at FVTPL |
|
|
16,350 |
|
|
|
133,006 |
|
|
|
49,641 |
|
| Loss on disposal of investment assets |
|
|
7,298 |
|
|
|
— |
|
|
|
— |
|
| Increase in other provisions |
|
|
107,924 |
|
|
|
— |
|
|
|
— |
|
| Other income (expenses) |
|
|
(2,718 |
) |
|
|
16,373 |
|
|
|
(16,919 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
₩ |
4,436,619 |
|
|
|
4,313,213 |
|
|
|
4,546,338 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
(2) |
Changes in assets and liabilities from operating activities for the years ended December 31, 2025, 2024 and 2023 are as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Accounts receivable – trade |
|
₩ |
47,995 |
|
|
|
(69,043 |
) |
|
|
(46,531 |
) |
| Accounts receivable – other |
|
|
(44,132 |
) |
|
|
(51,028 |
) |
|
|
79,223 |
|
| Advanced payments |
|
|
15,478 |
|
|
|
4,503 |
|
|
|
3,986 |
|
| Prepaid expenses |
|
|
(361,744 |
) |
|
|
(11,233 |
) |
|
|
(2,262 |
) |
| Inventories |
|
|
33,402 |
|
|
|
(35,661 |
) |
|
|
(17,549 |
) |
| Long-term accounts receivable – other |
|
|
34,179 |
|
|
|
135,823 |
|
|
|
66,036 |
|
| Contract assets |
|
|
(52,820 |
) |
|
|
(6,966 |
) |
|
|
3,877 |
|
| Guarantee deposits |
|
|
2,013 |
|
|
|
15,552 |
|
|
|
(2,117 |
) |
| Accounts payable – trade |
|
|
(20,297 |
) |
|
|
(10,039 |
) |
|
|
50,442 |
|
| Accounts payable – other |
|
|
233,283 |
|
|
|
(161,778 |
) |
|
|
(188,318 |
) |
| Withholdings |
|
|
94,239 |
|
|
|
138,672 |
|
|
|
(3,714 |
) |
| Contract liabilities |
|
|
185,984 |
|
|
|
17,213 |
|
|
|
(19,620 |
) |
| Deposits received |
|
|
9,737 |
|
|
|
(1,835 |
) |
|
|
(1,744 |
) |
| Accrued expenses |
|
|
(135,674 |
) |
|
|
81,025 |
|
|
|
(73,734 |
) |
| Provisions |
|
|
(5,555 |
) |
|
|
(160 |
) |
|
|
(566 |
) |
| Long-term provisions |
|
|
(754 |
) |
|
|
(357 |
) |
|
|
(1,061 |
) |
| Plan assets |
|
|
82,445 |
|
|
|
6,110 |
|
|
|
(17,772 |
) |
| Retirement benefits payment |
|
|
(270,415 |
) |
|
|
(157,801 |
) |
|
|
(99,396 |
) |
| Others |
|
|
8,428 |
|
|
|
(1,810 |
) |
|
|
(3,343 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
₩ |
(144,208 |
) |
|
|
(108,813 |
) |
|
|
(274,163 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
(3) |
Material non-cash transactions for the years ended December 31, 2025, 2024 and 2023 are as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Decrease in accounts payable – other relating to the acquisition of property and equipment and intangible assets |
|
₩ |
(194,029 |
) |
|
|
(130,413 |
) |
|
|
(305,823 |
) |
| |
|
|
278,554 |
|
|
|
523,494 |
|
|
|
345,761 |
|
| Transfer from property and equipment to investment property |
|
|
16,929 |
|
|
|
(5,482 |
) |
|
|
13,900 |
|
| Increase in accounts payable – other relating to the acquisition of shares |
|
|
— |
|
|
|
1,195,642 |
|
|
|
— |
|
| |
(4) |
Reconciliation of liabilities arising from financing activities for the years ended December 31, 2025 and 2024 are as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Exchange rate
changes(*1) |
|
|
|
|
|
|
|
|
|
|
| Total liabilities from financing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Short-term borrowings |
|
₩ |
100,000 |
|
|
|
30,000 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
130,000 |
|
| Long-term borrowings |
|
|
515,600 |
|
|
|
(12,500 |
) |
|
|
— |
|
|
|
— |
|
|
|
25 |
|
|
|
503,125 |
|
| Debentures |
|
|
8,511,280 |
|
|
|
(246,201 |
) |
|
|
(31,078 |
) |
|
|
— |
|
|
|
(20,097 |
) |
|
|
8,213,904 |
|
| Lease liabilities |
|
|
1,637,951 |
|
|
|
(372,834 |
) |
|
|
— |
|
|
|
— |
|
|
|
260,681 |
|
|
|
1,525,798 |
|
| Long-term payables – other |
|
|
907,720 |
|
|
|
(369,150 |
) |
|
|
— |
|
|
|
— |
|
|
|
9,391 |
|
|
|
547,961 |
|
| Derivative financial liabilities |
|
|
748 |
|
|
|
— |
|
|
|
— |
|
|
|
(127 |
) |
|
|
— |
|
|
|
621 |
|
| Derivative financial assets |
|
|
(270,797 |
) |
|
|
52,859 |
|
|
|
— |
|
|
|
16,676 |
|
|
|
— |
|
|
|
(201,262 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
₩ |
11,402,502 |
|
|
|
(917,826 |
) |
|
|
(31,078 |
) |
|
|
16,549 |
|
|
|
250,000 |
|
|
|
10,720,147 |
|
| Other cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payments of cash dividends |
|
|
|
|
|
₩ |
(628,359 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payments of interest on hybrid bonds |
|
|
|
|
|
|
(19,800 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Acquisition of treasury shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash outflow from transactions with the non-controlling shareholders(*2) |
|
|
|
|
|
|
(1,145,870 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash inflow from transactions with the non-controlling shareholders |
|
|
|
|
|
|
92 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1,793,937 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
₩ |
(2,711,763 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (*1) |
The effect of changes in foreign exchange rates for financial liabilities at amortized cost. |
| (*2) |
Includes ₩1, 145,870 million of consideration paid to non-controlling shareholders for the acquisition of additional shares in SK Broadband Co., Ltd., a subsidiary of the Parent Company, for the year ended December 31, 2025. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
| Total liabilities from financing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Short-term borrowings |
|
₩ |
— |
|
|
|
100,000 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
100,000 |
|
| Long-term borrowings |
|
|
718,078 |
|
|
|
(202,500 |
) |
|
|
— |
|
|
|
— |
|
|
|
22 |
|
|
|
515,600 |
|
| Debentures |
|
|
8,325,643 |
|
|
|
725 |
|
|
|
179,773 |
|
|
|
— |
|
|
|
5,139 |
|
|
|
8,511,280 |
|
| Lease liabilities |
|
|
1,611,433 |
|
|
|
(381,347 |
) |
|
|
— |
|
|
|
— |
|
|
|
407,865 |
|
|
|
1,637,951 |
|
| Long-term payables – other |
|
|
1,260,453 |
|
|
|
(369,150 |
) |
|
|
— |
|
|
|
— |
|
|
|
16,417 |
|
|
|
907,720 |
|
| Derivative financial liabilities |
|
|
9,212 |
|
|
|
— |
|
|
|
— |
|
|
|
(8,464 |
) |
|
|
— |
|
|
|
748 |
|
| Derivative financial assets |
|
|
(116,210 |
) |
|
|
— |
|
|
|
— |
|
|
|
(154,587 |
) |
|
|
— |
|
|
|
(270,797 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
₩ |
11,808,609 |
|
|
|
(852,272 |
) |
|
|
179,773 |
|
|
|
(163,051 |
) |
|
|
429,443 |
|
|
|
11,402,502 |
|
| Other cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payments of cash dividends |
|
|
|
|
|
₩ |
(804,317 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Payments of interest on hybrid bonds |
|
|
|
|
|
|
(19,800 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Acquisition of treasury shares |
|
|
|
|
|
|
(15,788 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash outflow from transactions with the non-controlling shareholders |
|
|
|
|
|
|
(133,393 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash inflow from transactions with the non-controlling shareholders |
|
|
|
|
|
|
15,717 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(957,581 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
₩ |
(1,809,853 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (*) |
The effect of changes in foreign exchange rates for financial liabilities at amortized cost. |
|