| Loans receivables |
7. Loans receivables
| A. |
Terms and collection schedule |
The terms and conditions of outstanding loans as of June 30, 2026 and December 31, 2025 are as follows:
| Schedule of terms and condition |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
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| |
|
|
|
|
|
|
|
|
June 30,
2026 |
|
|
December 31,
2025 |
|
| |
|
(In thousands of Korean won) |
|
| |
|
Currency |
|
Nominal
interest rate |
|
|
Maturity |
|
Face value |
|
|
Carrying
amount |
|
|
Face value |
|
|
Carrying
amount |
|
| Short-term loans, net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Eun Jong Choi (*1) |
|
KRW |
|
|
4.60 |
% |
|
31-Dec-26 |
|
|
100,000 |
|
|
|
128,021 |
|
|
|
100,000 |
|
|
|
125,739 |
|
| Eun Jong Choi (*1) |
|
KRW |
|
|
4.60 |
% |
|
31-Dec-26 |
|
|
40,000 |
|
|
|
51,208 |
|
|
|
40,000 |
|
|
|
50,296 |
|
| CubeBio Holdings., Ltd. (*2) |
|
KRW |
|
|
4.60 |
% |
|
24-Sep-26 |
|
|
46,245 |
|
|
|
50,048 |
|
|
|
43,047 |
|
|
|
45,564 |
|
| CubeBio Holdings., Ltd. (*2) |
|
KRW |
|
|
4.60 |
% |
|
28-Jan-27 |
|
|
5,704 |
|
|
|
5,811 |
|
|
|
- |
|
|
|
- |
|
| Dongsung D&C (*3) |
|
KRW |
|
|
4.60 |
% |
|
04-Nov-26 |
|
|
220,000 |
|
|
|
226,314 |
|
|
|
220,000 |
|
|
|
221,295 |
|
| Dongsung D&C (*3) |
|
KRW |
|
|
4.60 |
% |
|
17-May-27 |
|
|
100,000 |
|
|
|
100,542 |
|
|
|
- |
|
|
|
- |
|
| Subtotal |
|
|
|
|
511,949 |
|
|
|
561,944 |
|
|
|
403,047 |
|
|
|
442,894 |
|
| Long-term loans, net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Magium Corp. (*4) |
|
KRW |
|
|
5.00 |
% |
|
31-Mar-27 |
|
|
2,300,000 |
|
|
|
1,958,880 |
|
|
|
2,300,000 |
|
|
|
1,671,780 |
|
| Total |
|
|
|
|
2,811,949 |
|
|
|
2,520,824 |
|
|
|
2,703,047 |
|
|
|
2,114,674 |
|
| (*1) |
The loan to Eun Jong Choi is a related party transaction. |
| (*2) |
The loan to CubeBio Holdings Ltd. is denominated in USD 33,700 and presented in Korean won for reporting purposes. It is a related party transaction. |
| (*3) |
The loan to Dongsung D&C is denominated in KRW 320,000,000 and presented in Korean won for reporting purposes. The loan to Dongsung D&C is a related party transaction. |
| (*4) |
The loan was classified as long-term as it is not expected to be recovered within 12 months after the June 30, 2026 reporting period. In March 2026, the maturity date of the loan was extended to March 31, 2027, and the Company intends to further extend the maturity by one year in March 2027. |
| B. |
Details of allowance for impairment |
Changes in the allowance for impairment of loans for the year ended June 30, 2026 are as follows:
| Changes in loss allowance for expected credit losses on loan receivables |
|
|
|
|
|
|
| |
|
|
|
June 30,
2026 |
|
| |
|
|
|
(In thousands of Korean won) |
|
| Short-term loans, net |
|
|
|
|
|
|
| Beginning of the year |
|
₩ |
|
|
- |
|
| Write-off of allowance for doubtful accounts |
|
|
|
|
- |
|
| Reclassification of long-term to short-term |
|
|
|
|
- |
|
| Ending of the year |
|
₩ |
|
|
- |
|
| Long-term loans receivable, net |
|
|
|
|
|
|
| Beginning of the year |
|
₩ |
|
|
628,220 |
|
| Other bad debt expenses |
|
|
|
|
- |
|
| Reversal of allowance for doubtful accounts |
|
|
|
|
(287,100 |
) |
| Ending of the period |
|
₩ |
|
|
341,120 |
|
| Long-term Accrued interest income |
|
|
|
|
|
|
| Beginning of the year |
|
₩ |
|
|
247,458 |
|
| Other bad debt expenses |
|
|
|
|
65,379 |
|
| Ending of the period |
|
₩ |
|
|
312,837 |
|
|
8. Loans receivables
| A. |
Terms and collection schedule |
The terms and conditions of outstanding loans as of December 31, 2025 and 2024 are as follows:
| Schedule of terms and condition |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
December 31, 2025 |
|
| |
|
|
|
|
|
|
|
|
(In thousands of Korean won) |
|
| |
|
Currency |
|
Nominal
interest rate |
|
|
Maturity |
|
Face value |
|
|
Accrued
interest income |
|
|
Carrying
amount |
|
| Short-term loan receivable – related parties, net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Eun Jong, Choi (*1) |
|
KRW |
|
|
4.60 |
% |
|
30-Jun-26 |
|
|
100,000 |
|
|
|
25,739 |
|
|
|
125,739 |
|
| Eun Jong, Choi (*1) |
|
KRW |
|
|
4.60 |
% |
|
30-Jun-26 |
|
|
40,000 |
|
|
|
10,296 |
|
|
|
50,296 |
|
| CubeBio Holdings., Ltd. (*2) |
|
KRW |
|
|
4.60 |
% |
|
24-Sep-26 |
|
|
43,047 |
|
|
|
2,517 |
|
|
|
45,564 |
|
| Dongsung D&C |
|
KRW |
|
|
4.60 |
% |
|
04-Nov-26 |
|
|
220,000 |
|
|
|
1,295 |
|
|
|
221,295 |
|
| Subtotal |
|
|
|
403,047 |
|
|
|
39,847 |
|
|
|
442,894 |
|
| Long-term loan receivable, net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Magium Corp. (*3) |
|
KRW |
|
|
5.00 |
% |
|
31-Mar-27 |
|
|
2,300,000 |
|
|
|
- |
|
|
|
1,671,780 |
|
| Total |
|
|
|
2,703,047 |
|
|
|
39,847 |
|
|
|
2,114,674 |
|
| (*1) |
The loan to Eun Jong Choi is a related party transaction. |
| (*2) |
The loan to CubeBio Holdings Ltd. (Affiliate) is denominated in USD 30,000 and presented in Korean won for reporting purposes. It is a related party transaction. |
| (*3) |
The loan was classified as long-term as it is expected not to be recovered within 12 months after the December 31, 2025 reporting period. In March 2026, the maturity date of the loan was extended to March 31, 2027. |
| |
|
|
|
|
|
|
|
|
December 31, 2024 |
|
| |
|
|
|
|
|
|
|
|
(In thousands of Korean won) |
|
| |
|
Currency |
|
Nominal
interest rate |
|
|
Maturity |
|
Face value |
|
|
Accrued
interest income |
|
|
Carrying
amount |
|
| Short-term loan receivable – related parties, net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| MERITin Corp. (*1) |
|
KRW |
|
|
6.90 |
% |
|
30-Sep-15 |
|
|
1,803,750 |
|
|
|
- |
|
|
|
- |
|
| POEX Holdings Corp. (*2) |
|
KRW |
|
|
4.60 |
% |
|
24-Feb-20 |
|
|
50,000 |
|
|
|
- |
|
|
|
- |
|
| Eun Jong Choi (*3) |
|
KRW |
|
|
4.60 |
% |
|
30-Jun-25 |
|
|
100,000 |
|
|
|
21,139 |
|
|
|
121,139 |
|
| Eun Jong Choi (*3) |
|
KRW |
|
|
4.60 |
% |
|
30-Jun-25 |
|
|
40,000 |
|
|
|
8,456 |
|
|
|
48,456 |
|
| CubeBio Holdings., Ltd. (*4) |
|
KRW |
|
|
4.60 |
% |
|
24-Sep-25 |
|
|
44,100 |
|
|
|
550 |
|
|
|
44,650 |
|
| Subtotal |
|
|
|
2,037,850 |
|
|
|
30,145 |
|
|
|
214,245 |
|
| Long-term loan receivable, net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Magium Corp. (*5) |
|
KRW |
|
|
5.00 |
% |
|
31-Mar-27 |
|
|
2,300,000 |
|
|
|
- |
|
|
|
1,917,960 |
|
| Total |
|
|
|
4,337,850 |
|
|
|
30,145 |
|
|
|
2,132,205 |
|
| (*1) |
The Company recognized a full provision for the balance of loan as of December 31, 2015. |
| (*2) |
The Company recognized a full provision for the balance of loan as of December 31, 2020. |
| (*3) |
The loan to Eun Jong Choi is a related party transaction. |
| (*4) |
The loan to CubeBio Holdings., Ltd. (Affiliate) is denominated in USD 30,000 and presented in Korean won for reporting purposes. It is a related party transaction. |
| (*5) |
The loan was classified as long-term as it is expected not to be recovered within 12 months after the December 31, 2024 reporting period. In February 2025, the maturity date of the loan was extended to March 31, 2026. |
| B. |
Details of loss allowance for expected credit losses |
Changes in the loss allowance for expected credit losses on Loan receivables for the years ended December 31, 2025 and 2024 are as follows:
| Changes in loss allowance for expected credit losses on Loan receivables |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
2025 |
|
|
2024 |
|
| |
|
|
|
(In thousands of Korean won) |
|
| Short-term loan receivable – related parties, net |
|
|
|
|
|
|
|
|
|
|
| Beginning of the year |
|
₩ |
|
|
1,853,750 |
|
|
|
1,853,750 |
|
| Write-off of allowance for doubtful accounts |
|
|
|
|
(1,853,750 |
) |
|
|
- |
|
| Ending of the year |
|
₩ |
|
|
- |
|
|
|
1,853,750 |
|
| Long-term loan receivable, net (*) |
|
|
|
|
|
|
|
|
|
|
| Beginning of the year |
|
₩ |
|
|
533,862 |
|
|
|
952,170 |
|
| Reversal of allowance for doubtful accounts |
|
|
|
|
- |
|
|
|
(489,720 |
) |
| Other bad debt expenses |
|
|
|
|
341,816 |
|
|
|
71,412 |
|
| Ending of the year |
|
₩ |
|
|
875,678 |
|
|
|
533,862 |
|
|
(*) |
Includes allowance for expected credit losses relating to long-term other receivables. |
|