| Details of changes in principal of bonds |
| Details of changes in principal of bonds |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
15th |
|
|
20th |
|
|
21st |
|
|
Total |
|
| |
|
|
|
(In thousands of Korean won) |
|
| Balance as of January 1 |
|
₩ |
|
|
1,365,000 |
|
|
|
600,000 |
|
|
|
3,000,000 |
|
|
|
4,965,000 |
|
| Issuance |
|
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Early redemption |
|
|
|
|
- |
|
|
|
(600,000 |
) |
|
|
- |
|
|
|
(600,000 |
) |
| Balance at June 30 |
|
₩ |
|
|
1,365,000 |
|
|
|
- |
|
|
|
3,000,000 |
|
|
|
4,365,000 |
|
|
| Details of changes in principal of bonds |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
12th |
|
|
13th |
|
|
15th |
|
|
18th |
|
|
19th |
|
|
20th |
|
|
21st |
|
|
Total |
|
| |
|
|
|
(In thousands of Korean won) |
|
| Balance as of January 1 |
|
₩ |
|
|
800,000 |
|
|
|
495,000 |
|
|
|
1,380,000 |
|
|
|
2,500,000 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
5,175,000 |
|
| Issuance |
|
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
2,000,000 |
|
|
|
4,200,000 |
|
|
|
3,000,000 |
|
|
|
9,200,000 |
|
| Early redemption |
|
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(2,500,000 |
) |
|
|
(2,000,000 |
) |
|
|
(3,600,000 |
) |
|
|
- |
|
|
|
(8,100,000 |
) |
| Redemption at maturity |
|
|
|
|
- |
|
|
|
(5,000 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(5,000 |
) |
| Settled through
debt-to-equity swap (*) |
|
|
|
|
(800,000 |
) |
|
|
(490,000 |
) |
|
|
(15,000 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(1,305,000 |
) |
| Balance at 31 December |
|
₩ |
|
|
- |
|
|
|
- |
|
|
|
1,365,000 |
|
|
|
- |
|
|
|
- |
|
|
|
600,000 |
|
|
|
3,000,000 |
|
|
|
4,965,000 |
|
| (*) |
During the period, the detachable warrants were exercised through debt-to-equity swap (non-cash settlement). The amounts presented under “Settled through debt-to-equity swap” relate solely to warrants exercised through the non-cash settlement method, whereby bond principal was settled through conversion. Accordingly, no cash inflows arose from the transactions reflected in this table during the period. As a result of the exercise of warrants through non-cash settlement during the period, 320,000 ordinary shares were issued in connection with the 12th series, and 196,000 ordinary shares were issued in connection with the 13th series, and 5,000 ordinary shares were issued in connection with the 15th series. |
Details of the changes in principal of bonds for the year ended December 31, 2024 are as follows:
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
12th |
|
|
13th |
|
|
14th |
|
|
15th |
|
|
17th |
|
|
18th |
|
|
Total |
|
| |
|
|
|
(In thousands of Korean won) |
|
| Balance as of January 1 |
|
₩ |
|
|
800,000 |
|
|
|
3,855,000 |
|
|
|
750,000 |
|
|
|
2,180,000 |
|
|
|
- |
|
|
|
- |
|
|
|
7,585,000 |
|
| Issuance |
|
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
2,000,000 |
|
|
|
2,500,000 |
|
|
|
4,500,000 |
|
| Early redemption |
|
|
|
|
- |
|
|
|
- |
|
|
|
(750,000 |
) |
|
|
- |
|
|
|
(2,000,000 |
) |
|
|
- |
|
|
|
(2,750,000 |
) |
| Settled through
debt-to-equity swap (*) |
|
|
|
|
- |
|
|
|
(3,360,000 |
) |
|
|
- |
|
|
|
(800,000 |
) |
|
|
- |
|
|
|
- |
|
|
|
(4,160,000 |
) |
| Balance at 31 December |
|
₩ |
|
|
800,000 |
|
|
|
495,000 |
|
|
|
- |
|
|
|
1,380,000 |
|
|
|
- |
|
|
|
2,500,000 |
|
|
|
5,175,000 |
|
| (*) |
During the period, the detachable warrants were exercised through two methods: cash settlement and debt-to-equity swap (non-cash settlement). The amounts presented under “Settled through debt-to-equity swap” relate solely to warrants exercised through the non-cash settlement method, whereby bond principal was settled through conversion. Accordingly, no cash inflows arose from the transactions reflected in this table during the period. As a result of the exercise of warrants through non-cash settlement during the period, 1,344,000 ordinary shares were issued in connection with the 13th series, and 266,665 ordinary shares were issued in connection with the 15th series. In addition, as a result of the exercise of warrants through cash settlement during the period, 14,000 ordinary shares were issued in connection with the 13th series and 1,000,000 ordinary shares in connection with the 16th series, for which the related bonds had been fully settled prior to the warrant exercise. The Company recognized increases in share capital equal to the number of shares exercised multiplied by par value, and in share premium equal to the number of shares exercised multiplied by the excess of the exercise price over par value. |
|
| Changes in fair value of derivative liabilities |
| Changes in fair value of derivative liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
15th |
|
|
20th |
|
|
21st |
|
|
Total |
|
| |
|
|
|
(In thousands of Korean won) |
|
| Balance at January 1 |
|
₩ |
|
|
117,845 |
|
|
|
227,200 |
|
|
|
922,756 |
|
|
|
1,267,801 |
|
| Issuance |
|
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Redemption |
|
|
|
|
- |
|
|
|
(227,200 |
) |
|
|
- |
|
|
|
(227,200 |
) |
| Losses (gains) on valuation of derivatives |
|
|
|
|
(117,845 |
) |
|
|
- |
|
|
|
57,213 |
|
|
|
(60,632 |
) |
| Balance at June 30 |
|
₩ |
|
|
- |
|
|
|
- |
|
|
|
979,969 |
|
|
|
979,969 |
|
|
| Changes in fair value of derivative liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
12th |
|
|
13th |
|
|
15th |
|
|
18th |
|
|
19th |
|
|
20th |
|
|
21st |
|
|
Total |
|
| |
|
|
|
(In thousands of Korean won) |
|
| Balance at January 1 |
|
₩ |
|
|
66,240 |
|
|
|
53,263 |
|
|
|
337,179 |
|
|
|
1,017,141 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
1,473,823 |
|
| Issuance |
|
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
824,174 |
|
|
|
1,719,885 |
|
|
|
916,475 |
|
|
|
3,460,534 |
|
| Redemption |
|
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(1,011,875 |
) |
|
|
(775,000 |
) |
|
|
(1,408,200 |
) |
|
|
- |
|
|
|
(3,195,075 |
) |
| Losses (gains) on valuation of derivatives |
|
|
|
|
(57,920 |
) |
|
|
(47,163 |
) |
|
|
(217,414 |
) |
|
|
(5,266 |
) |
|
|
(49,174 |
) |
|
|
(84,485 |
) |
|
|
6,281 |
|
|
|
(455,141 |
) |
| Derecognized upon bond settlement |
|
|
|
|
(8,320 |
) |
|
|
(6,100 |
) |
|
|
(1,920 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(16,340 |
) |
| Balance at December 31 |
|
₩ |
|
|
- |
|
|
|
- |
|
|
|
117,845 |
|
|
|
- |
|
|
|
- |
|
|
|
227,200 |
|
|
|
922,756 |
|
|
|
1,267,801 |
|
Changes in the fair value of derivative liabilities embedded in each series of bonds with warrants that were recognized in profit or loss for the year ended December 31, 2024 are as follows:
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
12th |
|
|
13th |
|
|
14th |
|
|
15th |
|
|
17th |
|
|
18th |
|
|
Total |
|
| |
|
|
|
(In thousands of Korean won) |
|
| Balance at January 1 |
|
₩ |
|
|
208,960 |
|
|
|
963,391 |
|
|
|
281,400 |
|
|
|
698,795 |
|
|
|
- |
|
|
|
- |
|
|
|
2,152,546 |
|
| Issuance |
|
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
802,198 |
|
|
|
1,021,266 |
|
|
|
1,823,464 |
|
| Redemption |
|
|
|
|
- |
|
|
|
- |
|
|
|
(195,900 |
) |
|
|
- |
|
|
|
(808,000 |
) |
|
|
- |
|
|
|
(1,003,900 |
) |
| Losses (gains) on valuation of derivatives |
|
|
|
|
(142,720 |
) |
|
|
(322,128 |
) |
|
|
(85,500 |
) |
|
|
(119,164 |
) |
|
|
5,802 |
|
|
|
(4,125 |
) |
|
|
(667,835 |
) |
| Derecognized upon bond settlement |
|
|
|
|
- |
|
|
|
(588,000 |
) |
|
|
- |
|
|
|
(242,452 |
) |
|
|
- |
|
|
|
- |
|
|
|
(830,452 |
) |
| Balance at December 31 |
|
₩ |
|
|
66,240 |
|
|
|
53,263 |
|
|
|
- |
|
|
|
337,179 |
|
|
|
- |
|
|
|
1,017,141 |
|
|
|
1,473,823 |
|
|
| Details of bonds with detachable warrants issued |
| Details of bonds with detachable warrants issued |
|
|
|
|
|
|
| Series |
|
11th |
|
12th |
|
13th |
| Type |
|
Detachable Warrants bonds |
|
Detachable Warrants bonds |
|
Detachable Warrants bonds |
| |
|
|
|
|
|
|
| Issuance amount |
|
1,500,000,000 |
|
800,000,000 |
|
4,000,000,000 |
| |
|
|
|
|
|
|
| Coupon rate (%) |
|
- |
|
- |
|
- |
| |
|
|
|
|
|
|
| Yield to maturity (%) |
|
- |
|
- |
|
- |
| |
|
|
|
|
|
|
| Issuance date |
|
March 2022 |
|
August 2022 |
|
October 2022 |
| |
|
|
|
|
|
|
| Maturity date |
|
March 2025 |
|
August 2025 |
|
October 2025 |
| |
|
|
|
|
|
|
| Principal redemption |
|
1. Redemption at maturity:
Redeemed on the maturity date, at their outstanding principal amount, which has not been early redeemed
2. Early redemption:
The Company has a right to redeem before maturity (call option) or the bondholders have a right to require the Company to redeem before maturity (put option). Upon exercise of each option, the outstanding principal amount is to be redeemed. |
|
1. Redemption at maturity:
Redeemed on the maturity date, at their outstanding principal amount, which has not been early redeemed
2. Early redemption:
The Company has a right to redeem before maturity (call option) or the bondholders have a right to require the Company to redeem before maturity (put option). Upon exercise of each option, the outstanding principal amount is to be redeemed. |
|
1. Redemption at maturity:
Redeemed on the maturity date, at their outstanding principal amount, which has not been early redeemed
2. Early redemption:
The Company has a right to redeem before maturity (call option) or the bondholders have a right to require the Company to redeem before maturity (put option). Upon exercise of each option, the outstanding principal amount is to be redeemed. |
| |
|
|
|
|
|
|
| Exercise Price (*) |
|
₩4,000 per common share |
|
₩2,500 per common share (Subject to adjustment based on revenue at a specific point in time) |
|
₩2,500 per common share |
| |
|
|
|
|
|
|
| Exercise period |
|
September 2022 ~ January 2025 |
|
February 2023 ~ July 2025 |
|
February 2023 ~ September 2025 |
| |
|
|
|
|
|
|
| Redemption at the Option of the issuer (Call option) |
|
The bonds are early redeemable by the Company in full or partial on March 7, 2023, 12 months from the issuance, or every three months after.
In the event of early redemption, the principal amount shall be paid. |
|
The bonds are early redeemable by the Company in full or partial on August 7, 2023, 12 months from the issuance, or every three months after.
In the event of early redemption, the principal amount shall be paid. |
|
The bonds are early redeemable by the Company in full or partial on April 16, 2024, 18 months from the issuance, or every three months after.
In the event of early redemption, the principal amount shall be paid. |
| Series |
|
11th |
|
12th |
|
13th |
| Redemption at the option of the bond holders (Put option) |
|
The bonds are early redeemable by the Company in full or partial on March 7, 2023, 12 months from the issuance, or every three months after.
In the event of early redemption, the principal amount shall be paid. |
|
The bonds are early redeemable by the Company in full or partial on August 7, 2023, 12 months from the issuance, or every three months after.
In the event of early redemption, the principal amount shall be paid. |
|
The bonds are early redeemable by the Company in full or partial on April 16, 2024, 18 months from the issuance, or every three months after.
In the event of early redemption, the principal amount shall be paid. |
| |
|
|
|
|
|
|
| Early redemption rights accounting treatment |
|
The early redemption right is separated from the host debt instrument as an embedded derivative and accounted for separately.
The separated embedded derivative is measured at fair value through profit or loss (FVTPL). |
|
The early redemption right is separated from the host debt instrument as an embedded derivative and accounted for separately.
The separated embedded derivative is measured at fair value through profit or loss (FVTPL). |
|
The early redemption right is separated from the host debt instrument as an embedded derivative and accounted for separately.
The separated embedded derivative is measured at fair value through profit or loss (FVTPL). |
| |
|
|
|
|
|
|
| Classification of Warrants |
|
The warrants were classified as equity instruments at the date of issuance, as it satisfied the fixed-for-fixed condition. |
|
Upon initial recognition, the warrants were classified as derivative financial liabilities as the fixed-for-fixed condition was not met at the inception date.
Subsequently, following the determination of the exercise price, the warrants were reclassified as equity instruments. |
|
The warrants were classified as equity instruments at the date of issuance, as it satisfied the fixed-for-fixed condition. |
| (*) |
The exercise price for the 12th series was finalized in February 2023. |
Details of the bonds with detachable warrants issued by the Company, including those for which either the bonds or the detachable warrants were outstanding as of June 30, 2026 or December 31, 2025, or were settled, redeemed, exercised or expired during the six-month periods ended June 30, 2026 and 2025, are as follows: (Continued)
| Series |
|
14th |
|
15th |
|
16th |
| Type |
|
Detachable Warrants bonds |
|
Detachable Warrants bonds |
|
Detachable Warrants bonds |
| |
|
|
|
|
|
|
| Issuance amount |
|
750,000,000 |
|
2,180,000,000 |
|
30,000,000,000 |
| |
|
|
|
|
|
|
| Coupon rate (%) |
|
- |
|
- |
|
- |
| |
|
|
|
|
|
|
| Yield to maturity (%) |
|
- |
|
- |
|
Annual simple interest 3.9% |
| |
|
|
|
|
|
|
| Issuance date |
|
April 2023 |
|
August 2023 |
|
September 2023 |
| |
|
|
|
|
|
|
| Maturity date |
|
April 2026 |
|
August 2026 |
|
September 2028 |
| |
|
|
|
|
|
|
| Principal redemption |
|
1. Redemption at maturity:
Redeemed on the maturity date, at their outstanding principal amount, which has not been early redeemed
2. Early redemption:
The Company has a right to redeem before maturity (call option) or the bondholders have a right to require the Company to redeem before maturity (put option). Upon exercise of each option, the outstanding principal amount is to be redeemed. |
|
1. Redemption at maturity:
Redeemed on the maturity date, at their outstanding principal amount, which has not been early redeemed
2. Early redemption:
The Company has a right to redeem before maturity (call option) or the bondholders have a right to require the Company to redeem before maturity (put option). Upon exercise of each option, the outstanding principal amount is to be redeemed. |
|
1. Redemption at maturity:
Redeemed on the maturity date, at their outstanding principal amount, which has not been early redeemed
2. Early redemption:
The Company has a right to redeem before maturity (call option) or the bondholders have a right to require the Company to redeem before maturity (put option). At exercise of each option, the outstanding principal amount together with accrued but unpaid interest are to be redeemed. |
| |
|
|
|
|
|
|
| Exercise Price |
|
₩2,500 per common share |
|
₩3,000 per common share |
|
₩3,000 per common share |
| |
|
|
|
|
|
|
| Exercise period |
|
August 2023 ~ November 2025 |
|
November 2023 ~ July 2026 |
|
October 2023 ~ August 2028 |
| |
|
|
|
|
|
|
| Redemption at the Option of the issuer (Call option) |
|
The bonds are early redeemable by the Company in full or partial on August 7, 2023 or every three months after.
In the event of early redemption, the principal amount shall be paid. |
|
The bonds are early redeemable by the Company in full or partial on August 18, 2024 or every three months after.
In the event of early redemption, the principal amount shall be paid. |
|
The bonds are early redeemable by the Company in full or partial on November 20, 2023, which is 2 months from the issuance date, or at any time thereafter.
In the event of early redemption, the principal amount shall be paid. |
| Series |
|
14th |
|
15th |
|
16th |
| Redemption at the option of the bond holders (Put option) |
|
The bonds are early redeemable by the Company in full or partial on August 7, 2023 or every three months after.
In the event of early redemption, the principal amount shall be paid. |
|
The bonds are early redeemable by the Company in full or partial on August 18, 2024 or every three months after.
In the event of early redemption, the principal amount shall be paid. |
|
The bonds are early redeemable by the Company in full or partial on November 20, 2023, which is 2 months from the issuance date, or at any time thereafter.
In the event of early redemption, the principal amount shall be paid. |
| |
|
|
|
|
|
|
| Early redemption rights accounting treatment |
|
The early redemption right is separated from the host debt instrument as an embedded derivative and accounted for separately.
The separated embedded derivative is measured at fair value through profit or loss (FVTPL). |
|
The early redemption right is separated from the host debt instrument as an embedded derivative and accounted for separately.
The separated embedded derivative is measured at fair value through profit or loss (FVTPL). |
|
The early redemption right is separated from the host debt instrument as an embedded derivative and accounted for separately.
The separated embedded derivative is measured at fair value through profit or loss (FVTPL). |
| |
|
|
|
|
|
|
| Classification of Warrants |
|
The warrants were classified as equity instruments at the date of issuance, as it satisfied the fixed-for-fixed condition. |
|
The warrants were classified as equity instruments at the date of issuance, as it satisfied the fixed-for-fixed condition. |
|
The warrants were classified as equity instruments at the date of issuance, as it satisfied the fixed-for-fixed condition. |
Details of the bonds with detachable warrants issued by the Company, including those for which either the bonds or the detachable warrants were outstanding as of June 30, 2026 or December 31, 2025, or were settled, redeemed, exercised or expired during the six-month periods ended June 30, 2026 and 2025, are as follows: (Continued)
| Series |
|
17th |
|
18th |
|
19th |
| Type |
|
Detachable Warrants bonds |
|
Detachable Warrants bonds |
|
Detachable Warrants bonds |
| |
|
|
|
|
|
|
| Issuance amount |
|
2,000,000,000 |
|
2,500,000,000 |
|
2,000,000,000 |
| |
|
|
|
|
|
|
| Coupon rate (%) |
|
- |
|
- |
|
- |
| |
|
|
|
|
|
|
| Yield to maturity (%) |
|
- |
|
- |
|
- |
| |
|
|
|
|
|
|
| Issuance date |
|
July 2024 |
|
November 2024 |
|
February 2025 |
| |
|
|
|
|
|
|
| Maturity date |
|
July 2027 |
|
November 2027 |
|
February 2028 |
| Series |
|
17th |
|
18th |
|
19th |
| Principal redemption |
|
1. Redemption at maturity:
Redeemed on the maturity date, at their outstanding principal amount, which has not been early redeemed
2. Early redemption:
The Company has a right to redeem before maturity (call option) or the bondholders have a right to require the Company to redeem before maturity (put option). At exercise of each option, the outstanding principal amount together with accrued but unpaid interest are to be redeemed. |
|
1. Redemption at maturity:
Redeemed on the maturity date, at their outstanding principal amount, which has not been early redeemed
2. Early redemption:
The Company has a right to redeem before maturity (call option) or the bondholders have a right to require the Company to redeem before maturity (put option). Upon exercise of each option, the outstanding principal amount is to be redeemed. |
|
1. Redemption at maturity:
Redeemed on the maturity date, at their outstanding principal amount, which has not been early redeemed
2. Early redemption:
The Company has a right to redeem before maturity (call option) or the bondholders have a right to require the Company to redeem before maturity (put option). Upon exercise of each option, the outstanding principal amount is to be redeemed. |
| |
|
|
|
|
|
|
| Exercise Price |
|
₩4,000 per common share |
|
₩4,000 per common share |
|
₩4,000 per common share |
| |
|
|
|
|
|
|
| Exercise period |
|
November 2024 ~ June 2027 |
|
February 2025 ~ November 2027 |
|
May 2025 ~ January 2028 |
| |
|
|
|
|
|
|
| Redemption at the Option of the issuer (Call option) |
|
The bonds are early redeemable by the Company in full or partial on November 2, 2024, which is four months from the issuance date, or at any time thereafter.
In the event of early redemption, the principal amount shall be paid. |
|
The bonds are early redeemable by the Company in full or partial on February 7, 2025, which is three months from the issuance date, or at any time thereafter.
In the event of early redemption, the principal amount shall be paid. |
|
The bonds are early redeemable by the Company in full or partial on May 17, 2025, which is three months from the issuance date, or at any time thereafter.
In the event of early redemption, the principal amount shall be paid. |
| |
|
|
|
|
|
|
| Redemption at the option of the bond holders (Put option) |
|
The bonds are early redeemable by the Company in full or partial on November 2, 2024, which is four months from the issuance date, or at any time thereafter.
In the event of early redemption, the principal amount shall be paid. |
|
The bonds are early redeemable by the Company in full or partial on February 7, 2025, which is three months from the issuance date, or at any time thereafter.
In the event of early redemption, the principal amount shall be paid. |
|
The bonds are early redeemable by the Company in full or partial on May 17, 2025, which is three months from the issuance date, or at any time thereafter.
In the event of early redemption, the principal amount shall be paid. |
| Series |
|
17th |
|
18th |
|
19th |
| Early redemption rights accounting treatment |
|
The early redemption right is separated from the host debt instrument as an embedded derivative and accounted for separately.
The separated embedded derivative is measured at fair value through profit or loss (FVTPL). |
|
The early redemption right is separated from the host debt instrument as an embedded derivative and accounted for separately.
The separated embedded derivative is measured at fair value through profit or loss (FVTPL). |
|
The early redemption right is separated from the host debt instrument as an embedded derivative and accounted for separately.
The separated embedded derivative is measured at fair value through profit or loss (FVTPL). |
| |
|
|
|
|
|
|
| Classification of Warrants |
|
The warrants were classified as equity instruments at the date of issuance, as it satisfied the fixed-for-fixed condition. |
|
The warrants were classified as equity instruments at the date of issuance, as it satisfied the fixed-for-fixed condition. |
|
The warrants were classified as equity instruments at the date of issuance, as it satisfied the fixed-for-fixed condition. |
Details of the bonds with detachable warrants issued by the Company, including those for which either the bonds or the detachable warrants were outstanding as of June 30, 2026 or December 31, 2025, or were settled, redeemed, exercised or expired during the six-month periods ended June 30, 2026 and 2025, are as follows: (Continued)
| Series |
|
20th |
|
21st |
| Type |
|
Detachable Warrants bonds |
|
Detachable Warrants bonds |
| |
|
|
|
|
| Issuance amount |
|
4,200,000,000 |
|
3,000,000,000 |
| |
|
|
|
|
| Coupon rate (%) |
|
- |
|
- |
| |
|
|
|
|
| Yield to maturity (%) |
|
- |
|
- |
| |
|
|
|
|
| Issuance date |
|
July 2025 |
|
November 2025 |
| |
|
|
|
|
| Maturity date |
|
July 2028 |
|
November 2028 |
| |
|
|
|
|
| Principal redemption |
|
1. Redemption at maturity:
Redeemed on the maturity date, at their outstanding principal amount, which has not been early redeemed
2. Early redemption:
The Company has a right to redeem before maturity (call option) or the bondholders have a right to require the Company to redeem before maturity (put option). Upon exercise of each option, the outstanding principal amount is to be redeemed. |
|
1. Redemption at maturity:
Redeemed on the maturity date, at their outstanding principal amount, which has not been early redeemed
2. Early redemption:
The Company has a right to redeem before maturity (call option) or the bondholders have a right to require the Company to redeem before maturity (put option). Upon exercise of each option, the outstanding principal amount is to be redeemed. |
| |
|
|
|
|
| Exercise Price |
|
₩3,000 per common share |
|
₩3,000 per common share |
| Series |
|
20th |
|
21st |
| Exercise period |
|
October 2025 ~ June 2028 |
|
February 2026 ~ October 2028 |
| |
|
|
|
|
| Redemption at the Option of the issuer (Call option) |
|
The bonds are early redeemable by the Company in full or partial on October 2, 2025, which is three months from the issuance date, or at any time thereafter.
In the event of early redemption, the principal amount shall be paid. |
|
The bonds are early redeemable by the Company in full or partial on November 18, 2026, which is one year from the issuance date, or at any time thereafter.
In the event of early redemption, the principal amount shall be paid. |
| |
|
|
|
|
| Redemption at the option of the bond holders (Put option) |
|
The bonds are early redeemable by the Company in full or partial on October 2, 2025, which is three months from the issuance date, or at any time thereafter.
In the event of early redemption, the principal amount shall be paid. |
|
The bonds are early redeemable by the Company in full or partial on November 18, 2026, which is one year from the issuance date, or at any time thereafter.
In the event of early redemption, the principal amount shall be paid. |
| |
|
|
|
|
| Early redemption rights accounting treatment |
|
The early redemption right is separated from the host debt instrument as an embedded derivative and accounted for separately.
The separated embedded derivative is measured at fair value through profit or loss (FVTPL). |
|
The early redemption right is separated from the host debt instrument as an embedded derivative and accounted for separately.
The separated embedded derivative is measured at fair value through profit or loss (FVTPL). |
| |
|
|
|
|
| Classification of Warrants |
|
The warrants were classified as equity instruments at the date of issuance, as it satisfied the fixed-for-fixed condition. |
|
The warrants were classified as equity instruments at the date of issuance, as it satisfied the fixed-for-fixed condition. |
|
| Details of bonds with detachable warrants issued |
|
|
|
|
|
|
| Series |
|
11th |
|
12th |
|
13th |
| Type |
|
Detachable Warrants bonds |
|
Detachable Warrants bonds |
|
Detachable Warrants bonds |
| |
|
|
|
|
|
|
| Issuance amount |
|
1,500,000,000 |
|
800,000,000 |
|
4,000,000,000 |
| |
|
|
|
|
|
|
| Coupon rate (%) |
|
- |
|
- |
|
- |
| |
|
|
|
|
|
|
| Yield to maturity (%) |
|
- |
|
- |
|
- |
| |
|
|
|
|
|
|
| Issuance date |
|
March 2022 |
|
August 2022 |
|
October 2022 |
| |
|
|
|
|
|
|
| Maturity date |
|
March 2025 |
|
August 2025 |
|
October 2025 |
| |
|
|
|
|
|
|
| Principal redemption |
|
1. Redemption at maturity:
Redeemed on the maturity date, at their outstanding principal amount, which has not been early redeemed
2. Early redemption:
The Company has a right to redeem before maturity (call option) or the bondholders have a right to require the Company to redeem before maturity (put option). Upon exercise of each option, the outstanding principal amount is to be redeemed. |
|
1. Redemption at maturity:
Redeemed on the maturity date, at their outstanding principal amount, which has not been early redeemed
2. Early redemption:
The Company has a right to redeem before maturity (call option) or the bondholders have a right to require the Company to redeem before maturity (put option). Upon exercise of each option, the outstanding principal amount is to be redeemed. |
|
1. Redemption at maturity: Redeemed on the maturity date, at their outstanding principal amount, which has not been early redeemed
2. Early redemption: The Company has a right to redeem before maturity (call option) or the bondholders have a right to require the Company to redeem before maturity (put option). Upon exercise of each option, the outstanding principal amount is to be redeemed. |
| |
|
|
|
|
|
|
| Exercise Price (*) |
|
₩4,000 per common share |
|
₩2,500 per common share (Subject to adjustment based on revenue at a specific point in time) |
|
₩2,500 per common share |
| |
|
|
|
|
|
|
| Exercise period |
|
September 2022 ~ January 2025 |
|
February 2023 ~ July 2025 |
|
February 2023 ~ September 2025 |
| |
|
|
|
|
|
|
|
Redemption at the Option of the issuer (Call option) |
|
The bonds are early redeemable by the Company in full or partial on March 7, 2023, 12 months from the issuance, or every three months after.
In the event of early redemption, the principal amount shall be paid. |
|
The bonds are early redeemable by the Company in full or partial on August 7, 2023, 12 months from the issuance, or every three months after.
In the event of early redemption, the principal amount shall be paid. |
|
The bonds are early redeemable by the Company in full or partial on April 16, 2024, 18 months from the issuance, or every three months after.
In the event of early redemption, the principal amount shall be paid. |
| Series |
|
11th |
|
12th |
|
13th |
|
Redemption at the option of the bond holders (Put option) |
|
The bonds are early redeemable by the Company in full or partial on March 7, 2023, 12 months from the issuance, or every three months after.
In the event of early redemption, the principal amount shall be paid. |
|
The bonds are early redeemable by the Company in full or partial on August 7, 2023, 12 months from the issuance, or every three months after.
In the event of early redemption, the principal amount shall be paid. |
|
The bonds are early redeemable by the Company in full or partial on April 16, 2024, 18 months from the issuance, or every three months after.
In the event of early redemption, the principal amount shall be paid. |
| |
|
|
|
|
|
|
| Early redemption rights accounting treatment |
|
The early redemption right is separated from the host debt instrument as an embedded derivative and accounted for separately.
The separated embedded derivative is measured at fair value through profit or loss (FVTPL). |
|
The early redemption right is separated from the host debt instrument as an embedded derivative and accounted for separately.
The separated embedded derivative is measured at fair value through profit or loss (FVTPL). |
|
The early redemption right is separated from the host debt instrument as an embedded derivative and accounted for separately.
The separated embedded derivative is measured at fair value through profit or loss (FVTPL). |
| |
|
|
|
|
|
|
|
Classification of Warrants |
|
The warrants were classified as equity instruments at the date of issuance, as it satisfied the fixed-for-fixed condition. |
|
Upon initial recognition, the warrants were classified as derivative financial liabilities as the fixed-for-fixed condition was not met at the inception date.
Subsequently, following the determination of the exercise price, the warrants were reclassified as equity instruments. |
|
The warrants were classified as equity instruments at the date of issuance, as it satisfied the fixed-for-fixed condition. |
| (*) |
The exercise price for the 12th series was finalized in February 2023. |
Details of the bonds with detachable warrants issued by the Company, including those outstanding as of December 31, 2024 and fully settled or redeemed during the year ended December 31, 2025, are as follows: (Continued)
| Series |
|
14th |
|
15th |
|
16th |
| Type |
|
Detachable Warrants bonds |
|
Detachable Warrants bonds |
|
Detachable Warrants bonds |
| |
|
|
|
|
|
|
| Issuance amount |
|
750,000,000 |
|
2,180,000,000 |
|
30,000,000,000 |
| |
|
|
|
|
|
|
| Coupon rate (%) |
|
- |
|
- |
|
- |
| |
|
|
|
|
|
|
| Yield to maturity (%) |
|
- |
|
- |
|
Annual simple interest 3.9% |
| |
|
|
|
|
|
|
| Issuance date |
|
April 2023 |
|
August 2023 |
|
September 2023 |
| |
|
|
|
|
|
|
| Maturity date |
|
April 2026 |
|
August 2026 |
|
September 2028 |
| |
|
|
|
|
|
|
| Principal redemption |
|
1. Redemption at maturity: Redeemed on the maturity date, at their outstanding principal amount, which has not been early redeemed
2. Early redemption: The Company has a right to redeem before maturity (call option) or the bondholders have a right to require the Company to redeem before maturity (put option). Upon exercise of each option, the outstanding principal amount is to be redeemed. |
|
1. Redemption at maturity: Redeemed on the maturity date, at their outstanding principal amount, which has not been early redeemed
2. Early redemption: The Company has a right to redeem before maturity (call option) or the bondholders have a right to require the Company to redeem before maturity (put option). Upon exercise of each option, the outstanding principal amount is to be redeemed. |
|
1. Redemption at maturity: Redeemed on the maturity date, at their outstanding principal amount, which has not been early redeemed
2. Early redemption:
The Company has a right to redeem before maturity (call option) or the bondholders have a right to require the Company to redeem before maturity (put option). At exercise of each option, the outstanding principal amount together with accrued but unpaid interest are to be redeemed. |
| |
|
|
|
|
|
|
| Exercise Price |
|
₩2,500 per common share |
|
₩3,000 per common share |
|
₩3,000 per common share |
| |
|
|
|
|
|
|
| Exercise period |
|
August 2023 ~ November 2025 |
|
November 2023 ~ July 2026 |
|
October 2023 ~ August 2028 |
| Series |
|
14th |
|
15th |
|
16th |
|
Redemption at the Option of the issuer (Call option) |
|
The bonds are early redeemable by the Company in full or partial on August 7, 2023 or every three months after.
In the event of early redemption, the principal amount shall be paid. |
|
The bonds are early redeemable by the Company in full or partial on August 18, 2024 or every three months after.
In the event of early redemption, the principal amount shall be paid. |
|
The bonds are early redeemable by the Company in full or partial on November 20, 2023, 2 months from the issuance, or every three months after.
In the event of early redemption, the principal amount shall be payable. |
| |
|
|
|
|
|
|
|
Redemption at the option of the bond holders (Put option) |
|
The bonds are early redeemable by the Company in full or partial on August 7, 2023 or every three months after.
In the event of early redemption, the principal amount shall be paid. |
|
The bonds are early redeemable by the Company in full or partial on August 18, 2024 or every three months after.
In the event of early redemption, the principal amount shall be paid. |
|
The bonds are early redeemable by the Company in full or partial on November 20, 2023, which is three months from the issuance date, or at any time thereafter.
In the event of early redemption, the principal amount shall be paid. |
| |
|
|
|
|
|
|
| Early redemption rights accounting treatment |
|
The early redemption right is separated from the host debt instrument as an embedded derivative and accounted for separately.
The separated embedded derivative is measured at fair value through profit or loss (FVTPL). |
|
The early redemption right is separated from the host debt instrument as an embedded derivative and accounted for separately.
The separated embedded derivative is measured at fair value through profit or loss (FVTPL). |
|
The bonds are early redeemable by the Company in full or partial on November 20, 2024, 2 months from the issuance, or every three months after.
In the event of early redemption, the principal amount shall be payable. |
| |
|
|
|
|
|
|
|
Classification of Warrants |
|
The warrants were classified as equity instruments at the date of issuance, as it satisfied the fixed-for-fixed condition. |
|
The warrants were classified as equity instruments at the date of issuance, as it satisfied the fixed-for-fixed condition. |
|
The warrants were classified as equity instruments at the date of issuance, as it satisfied the fixed-for-fixed condition. |
Details of the bonds with detachable warrants issued by the Company, including those outstanding as of December 31, 2024 and fully settled or redeemed during the year ended December 31, 2025, are as follows: (Continued)
| Series |
|
17th |
|
18th |
|
19th |
| Type |
|
Detachable Warrants bonds |
|
Detachable Warrants bonds |
|
Detachable Warrants bonds |
| |
|
|
|
|
|
|
| Issuance amount |
|
2,000,000,000 |
|
2,500,000,000 |
|
2,000,000,000 |
| |
|
|
|
|
|
|
| Coupon rate (%) |
|
- |
|
- |
|
- |
| |
|
|
|
|
|
|
| Yield to maturity (%) |
|
- |
|
- |
|
- |
| |
|
|
|
|
|
|
| Issuance date |
|
July 2024 |
|
November 2024 |
|
February 2025 |
| |
|
|
|
|
|
|
| Maturity date |
|
July 2027 |
|
November 2027 |
|
February 2028 |
| |
|
|
|
|
|
|
| Principal redemption |
|
1. Redemption at maturity: Redeemed on the maturity date, at their outstanding principal amount, which has not been early redeemed
2. Early redemption: The Company has a right to redeem before maturity (call option) or the bondholders have a right to require the Company to redeem before maturity (put option). At exercise of each option, the outstanding principal amount together with accrued but unpaid interest are to be redeemed. |
|
1. Redemption at maturity: Redeemed on the maturity date, at their outstanding principal amount, which has not been early redeemed
2. Early redemption: The Company has a right to redeem before maturity (call option) or the bondholders have a right to require the Company to redeem before maturity (put option). Upon exercise of each option, the outstanding principal amount is to be redeemed. |
|
1. Redemption at maturity: Redeemed on the maturity date, at their outstanding principal amount, which has not been early redeemed
2. Early redemption: The Company has a right to redeem before maturity (call option) or the bondholders have a right to require the Company to redeem before maturity (put option). Upon exercise of each option, the outstanding principal amount is to be redeemed. |
| |
|
|
|
|
|
|
| Exercise Price |
|
₩4,000 per common share |
|
₩4,000 per common share |
|
₩4,000 per common share |
| |
|
|
|
|
|
|
| Exercise period |
|
November 2024 ~ June 2027 |
|
February 2025 ~ November 2027 |
|
May 2025 ~ January 2028 |
| Series |
|
17th |
|
18th |
|
19th |
|
Redemption at the Option of the issuer (Call option) |
|
The bonds are early redeemable by the Company in full or partial on November 2, 2024 or every three months after.
In the event of early redemption, the principal amount shall be payable. |
|
The bonds are early redeemable by the Company in full or partial on February 7, 2025, which is three months from the issuance date, or at any time thereafter.
In the event of early redemption, the principal amount shall be paid. |
|
The bonds are early redeemable by the Company in full or partial on May 17, 2025, which is three months from the issuance date, or at any time thereafter.
In the event of early redemption, the principal amount shall be paid. |
| |
|
|
|
|
|
|
|
Redemption at the option of the bond holders (Put option) |
|
The bonds are early redeemable by the Company in full or partial on November 18, 2026, which is one year from the issuance date, or at any time thereafter.
In the event of early redemption, the principal amount shall be paid. |
|
The bonds are early redeemable by the Company in full or partial on February 7, 2025, which is three months from the issuance date, or at any time thereafter.
In the event of early redemption, the principal amount shall be paid. |
|
The bonds are early redeemable by the Company in full or partial on May 17, 2025, which is three months from the issuance date, or at any time thereafter.
In the event of early redemption, the principal amount shall be paid. |
| |
|
|
|
|
|
|
| Early redemption rights accounting treatment |
|
The bonds are early redeemable by the Company in full or partial on November 2, 2024 or every four months after.
In the event of early redemption, the principal amount shall be payable. |
|
The early redemption right is separated from the host debt instrument as an embedded derivative and accounted for separately.
The separated embedded derivative is measured at fair value through profit or loss (FVTPL). |
|
The early redemption right is separated from the host debt instrument as an embedded derivative and accounted for separately.
The separated embedded derivative is measured at fair value through profit or loss (FVTPL). |
| |
|
|
|
|
|
|
|
Classification of Warrants |
|
The warrants were classified as equity instruments at the date of issuance, as it satisfied the fixed-for-fixed condition. |
|
The warrants were classified as equity instruments at the date of issuance, as it satisfied the fixed-for-fixed condition. |
|
The warrants were classified as equity instruments at the date of issuance, as it satisfied the fixed-for-fixed condition. |
Details of the bonds with detachable warrants issued by the Company, including those outstanding as of December 31, 2024 and fully settled or redeemed during the year ended December 31, 2025, are as follows: (Continued)
| Series |
|
20th |
|
21st |
| Type |
|
Detachable Warrants bonds |
|
Detachable Warrants bonds |
| |
|
|
|
|
| Issuance amount |
|
4,200,000,000 |
|
3,000,000,000 |
| |
|
|
|
|
| Coupon rate (%) |
|
- |
|
- |
| |
|
|
|
|
| Yield to maturity (%) |
|
- |
|
- |
| |
|
|
|
|
| Issuance date |
|
July 2025 |
|
November 2025 |
| |
|
|
|
|
| Maturity date |
|
July 2028 |
|
November 2028 |
| |
|
|
|
|
| Principal redemption |
|
1. Redemption at maturity: Redeemed on the maturity date, at their outstanding principal amount, which has not been early redeemed
2. Early redemption: The Company has a right to redeem before maturity (call option) or the bondholders have a right to require the Company to redeem before maturity (put option). Upon exercise of each option, the outstanding principal amount is to be redeemed. |
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1. Redemption at maturity: Redeemed on the maturity date, at their outstanding principal amount, which has not been early redeemed
2. Early redemption: The Company has a right to redeem before maturity (call option) or the bondholders have a right to require the Company to redeem before maturity (put option). Upon exercise of each option, the outstanding principal amount is to be redeemed. |
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| Exercise Price |
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₩3,000 per common share |
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₩3,000 per common share |
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| Exercise period |
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October 2025 ~ June 2028 |
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February 2026 ~ October 2028 |
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Redemption at the Option of the issuer (Call option) |
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The bonds are early redeemable by the Company in full or partial on October 2, 2025, which is three months from the issuance date, or at any time thereafter.
In the event of early redemption, the principal amount shall be paid. |
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The bonds are early redeemable by the Company in full or partial on November 18, 2026, which is one year from the issuance date, or at any time thereafter.
In the event of early redemption, the principal amount shall be paid. |
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Redemption at the option of the bond holders (Put option) |
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The bonds are early redeemable by the Company in full or partial on October 2, 2025, which is three months from the issuance date, or at any time thereafter.
In the event of early redemption, the principal amount shall be paid. |
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The bonds are early redeemable by the Company in full or partial on November 18, 2026, which is one year from the issuance date, or at any time thereafter.
In the event of early redemption, the principal amount shall be paid. |
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| Early redemption rights accounting treatment |
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The early redemption right is separated from the host debt instrument as an embedded derivative and accounted for separately.
The separated embedded derivative is measured at fair value through profit or loss (FVTPL). |
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The early redemption right is separated from the host debt instrument as an embedded derivative and accounted for separately.
The separated embedded derivative is measured at fair value through profit or loss (FVTPL). |
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Classification of Warrants |
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The warrants were classified as equity instruments at the date of issuance, as it satisfied the fixed-for-fixed condition. |
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The warrants were classified as equity instruments at the date of issuance, as it satisfied the fixed-for-fixed condition. |
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