v3.26.1
Borrowings/payable and Loans/receivable
 12 Months Ended
Dec. 31, 2025
Borrowingspayable And Loansreceivable  
Borrowings/payable and Loans/receivable

28. Borrowings/payable and Loans/receivable

 

Borrowings as of December 31, 2025 and 2024 are as follows:

 

                   
        December 31,
2025		     December 31,
2024		  
        (In thousands of Korean won)  
Current Liabilities                    
Short-term borrowings   ₩     11,171,899       3,764,000  
Current portion of long-term borrowings, net         2,200,000       2,108,956  
Current lease liabilities (*)         1,702,300       1,786,577  
Total   ₩     15,074,199       7,659,533  
Non-Current liabilities                    
Long-term borrowings, excluding current portion, net         2,611,563       -  
Non-current lease liabilities (*)         6,268,969       9,302,661  
Total   ₩     8,880,532       9,302,661  

 

 
(*)The interest rate related to lease liabilities reflects the incremental borrowing rate based on the Company’s credit. The amount of interest expense related to lease liabilities incurred during the year ended December 31, 2025 is Korean Won 543,208 thousand (December 31, 2024: Korean Won 851,543 thousand, December 31, 2023: Korean Won 1,047,738 thousand). Additionally, the amount of short-term lease payments and low-value assets lease payments not included in the measurement of lease liabilities during the twelve-month period ended December 31, 2025 are Korean Won 2,349,723 thousand (December 31, 2024: Korean Won 33,846 thousand, December 31, 2023: Korean Won 23,157 thousand).

 

A. Terms and repayment schedule of Borrowings

 

The terms and conditions of outstanding borrowings as of December 31, 2025 and 2024 are as follows:

 

                                         
              December 31,
2025		     December 31,
2024		  
    Nominal
interest rate		   Maturity     Face value     Carrying
amount		     Face value     Carrying
amount		  
              (In thousands of Korean won)  
Secured borrowings   KORIBOR +1.75%   20-Dec-25       -       -       500,000       500,000  
Secured borrowings   KORIBOR + 2.39%   16-Sep-25       -       -       100,000       18,720  
Secured borrowings (*1)   6.78%   27-Feb-26       1,000,000       1,000,000       1,000,000       1,000,000  
Secured borrowings (*2)   4.69%   26-Jun-26       1,000,000       1,000,000       1,000,000       1,000,000  
Secured borrowings (*3)   4.98%   02-Dec-26       400,000       400,000       400,000       400,000  
Unsecured borrowings   4.60%   04-Dec-28       2,000,000       1,533,699       -       -  
Unsecured borrowings   4.60%   11-Dec-28       1,000,000       762,216       -       -  
Unsecured borrowings   4.60%   29-Dec-28       280,000       212,692       -       -  
Unsecured borrowings   4.60%   31-Dec-26       700,000       700,000       700,000       700,000  
Unsecured borrowings   4.60%   31-Dec-26       2,200,000       2,200,000       2,200,000       2,090,236  
Unsecured borrowings   4.60%   31-Dec-26       164,000       164,000       164,000       164,000  
Secured bank loans (*4)   CD + 3.00%   08-May-26       490,000       490,000       -       -  
Secured bank loans (*5)   CD + 12.33%   23-Mar-26       800,000       785,000       -       -  
Secured borrowings (*6)   5.84%   17-Jul-26       300,000       277,687       -       -  
Secured borrowings (*7)   COFIX (6 month)   24-Sep-26       3,000,000       3,000,000       -       -  
Unsecured borrowings   4.60%   31-Dec-26       248,500       247,500       -       -  
Unsecured borrowings   4.60%   25-Dec-27       220,000       212,955       -       -  
Unsecured borrowings   4.60%   31-Mar-26       26,680       26,680       -       -  
Unsecured borrowings   4.60%   27-Dec-25       1,000,000       500,000       -       -  
Unsecured borrowings   0.00%   13-May-26       3,730,740       318,683       -       -  
Unsecured borrowings   0.00%   30-Jan-27       2,869,800       2,152,350       -       -  
Total       21,429,720       15,983,462       6,064,000       5,872,956  

 

 
(*1)As of December 31, 2025, the Company is provided a guarantee of Korean Won 1,200,000 thousand (2024: Korean Won 1,200,000 thousand) from CEO of Play F&B.
(*2)As of December 31, 2025, the Company is provided a guarantee of Korean Won 900,000 thousand (2024: Korean Won 900,000 thousand) by Korea Credit Guarantee Fund.
(*3) As of December 31, 2025, the Company is provided a building as collateral of Korean Won 480,000 thousand (2024: Korean Won 480,000 thousand) by CEO of Play F&B.
(*4)The Company has received a payment guarantee of Korean Won 441,000 thousand from Korea Credit Guarantee Fund as of December 31, 2025.
(*5)The Company is provided a joint guarantee of Korean Won 960,000 thousand by CEO of The Lamp as of December 31, 2025.
(*6)As of December 31, 2025, the Company is provided a joint and several guarantee of Korean Won 330,000 thousand by CEO of Solaire.
(*7)As of December 31, 2025, Solaire is provided a joint and several guarantee of Korean Won 3,600,000 thousand by CEO of Solaire. Also, land and buildings owned by unrelated third parties, with a pledged amount of Korean Won 3,000,000 thousand, are provided as collateral for the secured borrowings.

 

B. Terms and collection schedule of Loans

 

The terms and conditions of outstanding loans as of December 31, 2025 and 2024 are as follows:

 

                                         
              December 31,
2025		     December 31,
2024		  
    Nominal
interest rate		   Maturity     Face value     Carrying
amount		     Face value     Carrying
amount		  
              (In thousands of Korean won)  
Cho Mi Kyung (*1)   2.00%   31-Aug-25       400,000       -       400,000       -  
Bonanza Pictures (*2)   4.60%   31-Mar-21       30,000       -       30,000       -  
Jung Kyung Han   3.00%   14-Sep-23       30,000       30,000       30,000       30,000  
YY entertainment   4.60%   30-Apr-26       150,000       150,000       150,000       -  
Second plan (*4)   4.60%   31-Dec-26       471,400       471,400       394,400       394,400  
Rainier (*3)(*4)   4.60%   31-Dec-26       150,000       -       150,000       -  
Beacon Holdings, Inc. (*4)   4.60%   31-Dec-26       535,000       535,000       225,000       225,000  
Studio Cuat (*4)   4.60%   31-Dec-26       43,000       43,000       43,000       43,000  
Third plan   4.60%   31-Dec-26       8,000       8,000       -       -  
One to six   4.60%   30-Nov-26       1,180,000       1,180,000       -       -  
Park, Un Kyoung   0.00%   16-Jan-26       10,000       10,000       -       -  
Falling Starlight   0.00%   -       136,054       136,023       -       -  
Yun, In Beom, Kim, Su Jin   4.60%   18-Sep-26       600,000       600,000       -       -  
Yun, In Beom, Kim, Su Jin   4.60%   25-Nov-26       400,000       400,000       -       -  
Cheongpung Contents Studio Co., Ltd.   0.00%   22-Jul-27       5,000       5,000       -       -  
Lim Wan Cheol   0.00%   30-Oct-27       50,000       50,000       -       -  
K Enter Holdings Inc., Korea Branch   4.60%   23-Dec-25       -       -       95,000       95,000  
Total       4,198,454       3,618,423       1,517,400       787,400  

 

 
(*1)The Company recognized a full provision for the balance of loan and accrued interest income as of January 1, 2021. Accrued interest income as of December 31, 2025 and December 31, 2024 are Korean Won 26,685 thousand and Korean Won 26,685 thousand, respectively.
(*2)The Company recognized a full provision for the balance of loan and accrued interest income as of December 31, 2024. Accrued interest income as of December 31, 2025 and December 31, 2024 are Korean Won 8,676 thousand and Korean Won 7,296 thousand, respectively.
(*3)The Company recognized a full provision for the balance of loan and accrued interest income as of December 31, 2024. Accrued interest income as of December 31, 2025 and December 31, 2024 are Korean Won 3,789 thousand and Korean Won 3,789 thousand, respectively.
(*4)The contract is automatically extended by one year if the loan is not collected until maturity date.