Financial instruments by category (Tables)

12 Months Ended

Dec. 31, 2025

Financial Instruments By Category

Schedule of financial instruments by category


				December 31, 2025				December 31, 2024
				(In thousands of Korean won)
Financial assets at amortized cost
Cash and cash equivalents		₩			8,364,432				4,150,572
Short-term financial instruments (*1)					-				410,000
Accounts receivable — trade, net					4,380,886				9,210,441
Accounts receivable — other, net					536,134				130,482
Short-term loans, net					3,427,400				787,400
Other current financial assets (*2)					735,110				40,000
Long-term loans, net					191,023				-
Other non-current financial assets					2,180,055				1,803,220
Financial assets at fair value through profit or loss
Short-term financial instruments					21,560				13,524
Long-term financial instruments					310,908				322,538
Long-term investment securities					3,983,858				730,391
Total		₩			24,131,366				17,598,568

	(*1)	Short-term financial instruments consist of time deposits and saving-based insurance. As of December 31, 2024, Korean Won 231,000 thousand of time deposits in banks are provided as collateral for employee loans and restricted for use.
	(*2)	Interest-bearing notes included in other current financial assets amount to Korean Won 410,000 thousand, of which Korean Won 330,000 thousand have been pledged as collateral for loans to employees.

				December 31, 2025				December 31, 2024
				(In thousands of Korean won)
Financial liability at amortized cost
Trade and other payables (*)		₩			57,403,609				13,280,410
Short-term borrowings					11,171,899				3,764,000
Current portion of long-term borrowings, net					2,200,000				2,108,956
Other current financial liabilities					250,000				130,000
Long-term borrowings, excluding current portion, net					2,611,563				-
Other non-current financial liabilities					220,000				150,000
Convertible notes					4,631,460				-
Financial liability at fair value through profit or loss
Convertible notes					24,002,560				-
Warrant					528,772				-
Derivative liabilities					330,417				-
Total		₩			103,350,280				19,433,366

(*)

Trade and other payables that are not financial liabilities are excluded.

Schedule of classification of investment assets


				December 31, 2025				December 31, 2024
				(In thousands of Korean won)
Current investments
Fixed deposit – at amortized cost (*)		₩			-				410,000
Saving based insurance – at FVTPL					21,560				13,524
Total		₩			21,560				423,524
Non-Current investments
Saving based insurance – at FVTPL		₩			310,908				322,538
Equity securities – at FVTPL					858,167				726,991
Debt securities – at FVTPL					102,600				3,400
Project investment					3,023,091				-
Total		₩			4,294,766				1,052,929

(*)

As of December 31, 2024, Korean Won 231,000 thousand of time deposits is provided as collateral for employee loans and restricted for use.

Schedule of equity securities designated


				Fair value at December 31, 2025				Fair value at December 31, 2024
				(In thousands of Korean won)
Equity Securities (listed stocks)		₩			268,768				140,592
Equity Securities (unlisted stocks)					589,399				586,398
Total		₩			858,167				726,990

Schedule of net gains and losses by category of financial instruments


				2025
				Financial assets at amortized cost				Financial assets at fair value through profit or loss				Financial liabilities at amortized cost				Financial liabilities at fair value through profit or loss				Total
				(In thousands of Korean won)
Interest income		₩			407,595				-				-				-				407,595
Interest expense					-				-				(3,348,504	)			-				(3,348,504	)
Foreign currency differences					(314,664	)			-				(992	)			-				(315,656	)
Gain or loss on disposal of investment securities					-				(2,138,105	)			-				-				(2,138,105	)
Gain or loss on valuation of investment securities					-				(2,110,327	)			-				-				(2,110,327	)
Gain or loss on valuation of financial instruments					-				14,839				-				-				14,839
Gain or loss on warrants					-				-				-				16,622,386				16,622,386
Gain or loss on derivative instruments					-				-				-				(849,911	)			(849,911	)
Gain on debt forgiveness					-				-				309,850				-				309,850
Investment Revenue					-				904				-				-				904
Losses on disposal of short-term borrowings					-				-				(317,624	)			-				(317,624	)
Loss on initial recognition of FVPL liabilities					-				-				-				(26,228,277	)			(26,228,277	)
Gain on valuation of FVPL liabilities					-				-				-				5,559,062				5,559,062
Dividend income					-				2,613				-				-				2,613
Total		₩			92,931				(4,230,076	)			(3,357,270	)			(4,896,740	)			(12,391,155	)


				2024
				Financial assets at amortized cost				Financial assets at fair value through profit or loss				Financial liabilities at amortized cost				Total
				(In thousands of Korean won)
Interest income		₩			287,067				-				-				287,067
interest expense					-				-				(389,080	)			(389,080	)
Foreign currency differences					74,646				-				(6,906	)			67,740
Gain or loss on valuation of investment securities					-				89,651				-				89,651
Gain or loss on valuation of financial instruments					-				6,286				-				6,286
Dividend income					-				1,463				-				1,463
Total		₩			361,713				97,400				(395,986	)			63,127


				2023
				Financial assets at amortized cost				Financial assets at fair value through profit or loss				Financial liabilities at amortized cost				Total
				(In thousands of Korean won)
Interest income		₩			406,933				-				-				406,933
interest expense					-				-				(320,209	)			(320,209	)
Foreign currency differences					294,087				-				(45	)			294,042
Gain or loss on disposal of financial instruments					635,358				-				-				635,358
Gain or loss on valuation of investment securities					-				104,505				-				104,505
Gain or loss on valuation of financial instruments					-				(1,427	)			-				(1,427	)
Dividend income					-				1,463				-				1,463
Total		₩			1,336,378				104,541				(320,254	)			1,120,665