v3.26.3
Employee benefits
6 Months Ended 12 Months Ended
Jun. 30, 2026
Dec. 31, 2025
CubeBio Co., Ltd. [Member]    
Entity Information [Line Items]    
Employee benefits

17. Employee benefits

 

Details of defined benefit liability recognized as of June 30, 2026 and December 31, 2025 are as follows:

 

           
    June 30,     December 31,  
    2026     2025  
    (In thousands of Korean won)  
Defined benefit liability     903,565       980,841  

 

The Company operates defined benefit plans as a retirement pension scheme. Defined benefit plans expose the Company to actuarial risks, such as longevity risk, currency risk, interest rate risk, and market (investment) risk.

 

A. Movement in net defined benefit (liability) asset

 

Details of the reconciliation from the opening balances to the closing balances for the net defined benefit liability and its components for the six-month period ended June 30, 2026 are as follows:

 

                           
        Defined benefit
obligation
    Fair value of
plan assets
    Net defined
Benefit liabilities
 
        June 30,
2026
    June 30,
2026
    June 30,
2026
 
        (In thousands of Korean won)  
Balance at 1 January   ₩     980,841       -       980,841  
Included in profit or loss                            
Current service cost         96,415       -       96,415  
Interest expense         20,642       -       20,642  
Subtotal         117,057       -       117,057  
Included in OCI                            
Remeasurement losses(gains)                            
- Demographic assumption         -       -       -  
- Financial assumption         (53,297 )     -       (53,297 )
- Adjustment based on experience         (100,435 )     -       (100,435 )
Subtotal         (153,732 )     -       (153,732 )
Other                            
- Interim Settlement         -       -       -  
Benefits paid         (40,601 )     -       (40,601 )
Subtotal         (40,601 )     -       (40,601 )
Balance at 30 June   ₩     903,565       -       903,565  

 

B. Plan assets

 

There are no contributions funded to its defined benefit plans as of June 30, 2026 and December 31, 2025.

 

21. Employee benefits

 

Details of defined benefit liability recognized as of December 31, 2025 and 2024 are as follows:

 

               
        December 31,
2025
    December 31,
2024
 
        (In thousands of Korean won)  
Defined benefit liability   ₩     980,841       950,220  

 

The Company operates defined benefit plans as a retirement pension scheme. Defined benefit plans expose the Company to actuarial risks, such as longevity risk, currency risk, interest rate risk, and market (investment) risk.

 

A. Movement in net defined benefit (liability) asset

 

Details of the reconciliation from the opening balances to the closing balances for the net defined benefit liability and its components for the years ended December 31, 2025 and 2024 are as follows:

 

                                                   
        Defined benefit
obligation
    Fair value of
plan assets
    Net defined
Benefit liabilities
 
        2025     2024     2025     2024     2025     2024  
        (In thousands of Korean won)  
Balance at 1 January   ₩     950,220       718,383       -       -       950,220       718,383  
Included in profit or loss                         -       -                  
Current service cost         201,808       180,690       -       -       201,808       180,690  
Interest expense         36,339       31,575       -       -       36,339       31,575  
Subtotal         238,147       212,265       -       -       238,147       212,265  
Included in OCI                         -       -                  
Remeasurement loss(gain)                         -       -                  
- Demographic assumption         -       (1,425 )     -       -       -       (1,425 )
- Financial assumption         (30,017 )     77,394       -       -       (30,017 )     77,394  
- Adjustment based on experience         (22,104 )     51,884       -       -       (22,104 )     51,884  
Subtotal         (52,121 )     127,853       -       -       (52,121 )     127,853  
Other                         -       -                  
Gains on settlement         (48,663 )     (3,653 )     -       -       (48,663 )     (3,653 )
Benefits paid         (106,742 )     (104,628 )     -       -       (106,742 )     (104,628 )
Balance at 31 December   ₩     980,841       950,220       -       -       980,841       950,220  

 

B. Plan assets

 

There are no contributions funded to its defined benefit plans as of December 31, 2025 and 2024.

 

C. Defined benefit obligation

 

  i. Actuarial assumptions

 

Details of actuarial assumptions used for the years ended December 31, 2025 and 2024 are as follows:

 

               
    2025     2024  
Discount rate     4.36 %     3.98 %
Future salary growth     3.00 %     3.00 %

 

Assumptions regarding future longevity and standard salary scale have been based on data issued by Korea Insurance Development Institute.

 

As of December 31, 2025, the weighted average duration of the defined benefit obligation was 8.45 years.

 

  ii. Sensitivity analysis

 

The Company measures the risk of actuarial assumption changes as a 1% fluctuation in the discount rate and future salary growth rate of the amounts of the defined benefit obligation, which reflects the management’s assessment of the risk of actuarial assumption fluctuation that can reasonably occur. The impact of a 1% fluctuation in discount rates and future salary growth rates on the Company’s defined benefit obligation as of December 31, 2025 and 2024 are as follows:

 

                                   
        December 31,
2025
    December 31,
2024
 
        Increased by
1%
    Decreased by
1%
    Increased by
1%
    Decreased by
1%
 
        (In thousands of Korean won)  
Discount rate   ₩     (73,191 )     84,609       (70,838 )     81,873  
Future salary growth         85,026       (74,839 )     81,953       (72,186 )

 

Although the analysis does not take account of the full distribution of cash flows expected under the plan, it does provide an approximation of the sensitivity of the shown assumptions.