KT : 2023 Annual Report

KT Corporation

Separate Financial Statements

December 31, 2023 and 2022

ATTACHMENT : INDEPENDENT AUDITOR'S REPORT

KT Corporation

KT Corporation

Index

December 31, 2023 and 2022

	Page(s)
Independent Auditor's Report……………………………………………………...	1 - 4
Separate Financial Statements
Separate Statements of Financial Position…………………………………………	5 - 6
Separate Statements of Profit or Loss………………………………………………	7
Separate Statements of Comprehensive Income …………………………………	8
Separate Statements of Changes in Equity …………………………….………	9
Separate Statements of Cash Flows ……………………………...…………….	10
Notes to the Separate Financial Statements ………………………………………	11 - 104
Independent Auditor's Report on Internal Control over Financial

Reporting…………………………………………………………………………….

105 - 106

Report on the Effectiveness of Internal Control over Financial

Reporting…………………………………………………………………………….

107

Deloitte Anjin LLC

9F., One IFC,

10, Gukjegeumyung-ro,

Youngdeungpo-gu, Seoul

07326, Korea

Tel: [phone]

Fax: [phone] www.deloitteanjin.co.kr

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KT Corporation

Separate Statements of Financial Position

December 31, 2023 and 2022

(in millions of Korean won)
	Notes		December 31, 2023			December 31, 2022
Assets
Current assets
Cash and cash equivalents	4,5,36		1,242,005		966,307
Trade and other receivables, net	4,6,36		3,190,269			3,055,649
Other financial assets	4,7,36		279,451			232,837
Inventories, net	8		368,117			349,870
Other current assets	9		2,008,723			1,998,825
Total current assets			7,088,565			6,603,488

Non-current assets

Trade and other receivables, net

Other financial assets

Property and equipment, net

Right-of-use assets

Investment properties, net

Intangible assets, net

Investments in subsidiaries, associates and joint ventures

Net defined benefit assets Other non-current assets

Total non-current assets

Total assets

4,6,36		370,717			526,988
4,7,36		2,134,324			1,993,893
10		11,492,776			11,540,162
20		976,625			983,049
11,36		1,191,592			1,137,489
12		1,487,848			1,855,679
13		4,796,606			4,879,219
17		60,590			180,689
9		709,276			717,118
		23,220,354			23,814,286
		30,308,919	30,417,774

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KT Corporation

Separate Statements of Financial Position

December 31, 2023 and 2022

(in millions of Korean won)
			December 31, 2023			December 31, 2022
Liabilities
Current liabilities
Trade and other payables	4,14,36	4,232,377		4,411,056
Borrowings	4,15,36		1,725,234			984,720
Other financial liabilities	4,7,36		660			-
Current income tax liabilities			148,136			127,944
Provisions	16		91,861			87,720
Deferred income	25		39,618			44,042
Other current liabilities	9		719,605			665,968
Total current liabilities			6,957,491			6,321,450
Non-current liabilities
Trade and other payables	4,14,36		739,766			979,050
Borrowings	4,15,36		5,834,699			6,510,841
Other financial liabilities	4,7,36		23,819			37,566
Provisions	16		90,493			79,374
Deferred income	25		145,334			158,161
Deferred income tax liabilities	29		796,087			763,113
Other non-current liabilities	9		677,691			710,139
Total non-current liabilities			8,307,889			9,238,244
Total liabilities			15,265,380			15,559,694
Equity
Share capital	21		1,564,499			1,564,499
Share premium			1,440,258			1,440,258
Retained earnings	22		12,544,425			12,347,403
Accumulated other comprehensive income	23		64,229			(72,672)
Other components of equity	23		(569,872)			(421,408)
Total equity			15,043,539			14,858,080
Total liabilities and equity		30,308,919		30,417,774
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The above separate statements of financial position should be read in conjunction with the accompanying notes.

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KT Corporation

Separate Statements of Profit or Loss

Years Ended December 31, 2023 and 2022

(in millions of Korean won, except per share amounts)

	Notes		2023			2022
Operating revenue	25		18,371,437		18,289,243
Operating expenses	26		17,186,045			17,121,140
Operating profit			1,185,392			1,168,103
Other income	27		327,527			408,025
Other expenses	27		319,586			228,723
Finance income	28		381,151			577,334
Finance costs	28		419,210			653,996
Profit before income tax			1,155,274			1,270,743
Income tax expense	29		221,937			506,993
Profit for the year			933,337		763,750
Earnings per share
Basic earnings per share	30		3,741		3,153
Diluted earnings per share	30		3,739			3,152

The above separate statements of profit or loss should be read in conjunction with the accompanying notes.

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KT Corporation

Separate Statements of Comprehensive Income Years Ended December 31, 2023 and 2022

(in millions of Korean won)

Profit for the year

Other comprehensive income (loss)

Items that will not be reclassified to profit or loss:

Remeasurements of net defined benefit liabilities Gain (loss) on valuation of equity instruments

Notes	2023				2022
		933,337		763,750
17		(90,272)			114,154

at fair value through other comprehensive income			158,245			(149,638)
Items that may be subsequently reclassified to profit or loss:
Loss on valuation of debt instruments at
fair value through other comprehensive income	4		(26)			(13,902)
Valuation gain on cash flow hedges	4,7		16,030			56,259
Other comprehensive loss from cash flow hedges
reclassified to profit or loss	4		(37,126)			(91,012)
Total other comprehensive income (loss)			46,851			(84,139)
Total comprehensive income for the year			980,188			679,611

The above separate statements of comprehensive income should be read in conjunction with the accompanying notes.

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