Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2020shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2020 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | FY |
Trading Symbol | GRVY |
Entity Registrant Name | GRAVITY CO., LTD. |
Entity Central Index Key | 0001313310 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | No |
Entity Current Reporting Status | Yes |
Entity Filer Category | Accelerated Filer |
Entity Shell Company | false |
Entity Emerging Growth Company | false |
ICFR Auditor Attestation Flag | true |
Entity Voluntary Filers | No |
Entity Interactive Data Current | Yes |
Entity Common Stock, Shares Outstanding | 6,948,900 |
Title of 12(b) Security | American depositary shares, each representing one share of common stock |
Entity File Number | 000-51138 |
Entity Address, Address Line One | 15F, 396 World Cup bukro |
Entity Address, City or Town | Mapo-gu, Seoul |
Entity Address, Postal Zip Code | 121-795 |
Entity Address, Country | KR |
Security Exchange Name | NASDAQ |
Entity Incorporation, State or Country Code | M5 |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Document Registration Statement | false |
Document Accounting Standard | International Financial Reporting Standards |
Business Contact | |
Document Information [Line Items] | |
Entity Address, Address Line One | 15F, 396 World Cup bukro |
Entity Address, City or Town | Mapo-gu, Seoul |
Entity Address, Postal Zip Code | 03925 |
Entity Address, Country | KR |
Contact Personnel Name | Heung Gon Kim |
City Area Code | 82 |
Local Phone Number | 2-2132-7000 |
Contact Personnel Fax Number | 82-2-2132-7070 |
CONSOLIDATED STATEMENTS OF FINA
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Assets | ||
Cash and cash equivalents | ₩ 110,632 | ₩ 79,428 |
Short-term financial instruments | 71,000 | 39,500 |
Accounts receivables, net | 59,761 | 32,253 |
Other receivables, net | 8 | 56 |
Prepaid expenses | 2,238 | 1,962 |
Other current financial assets | 818 | 233 |
Other current assets | 2,128 | 2,431 |
Total current assets | 246,585 | 155,863 |
Property and equipment, net | 7,695 | 6,663 |
Intangible assets, net | 3,363 | 1,717 |
Deferred tax assets | 3,590 | 7,667 |
Other non-current financial assets | 1,324 | 1,770 |
Other non-current assets | 2,815 | 1,745 |
Total non-current assets | 18,787 | 19,562 |
Total assets | 265,372 | 175,425 |
Liabilities | ||
Accounts payables | 52,688 | 37,496 |
Deferred revenue | 13,692 | 10,748 |
Withholdings | 2,851 | 1,764 |
Accrued expenses | 1,365 | 1,175 |
Income tax payable | 9,470 | 2,618 |
Other current liabilities | 2,654 | 1,986 |
Total current liabilities | 82,720 | 55,787 |
Long-term account payables | 1,402 | 193 |
Long-term deferred revenue | 101 | 98 |
Other non-current liabilities | 3,801 | 3,576 |
Deferred tax liabilities | 5 | |
Total non-current liabilities | 5,304 | 3,872 |
Total liabilities | 88,024 | 59,659 |
Equity | ||
Share capital | 3,474 | 3,474 |
Capital surplus | 27,110 | 27,128 |
Other components of equity | (1,045) | 274 |
Retained earnings | 147,371 | 84,668 |
Equity attributable to owners of the Parent Company | 176,910 | 115,544 |
Non-controlling interest | 438 | 222 |
Total equity | 177,348 | 115,766 |
Total liabilities and equity | ₩ 265,372 | ₩ 175,425 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement Of Comprehensive Income [Abstract] | |||
Revenues | ₩ 405,953 | ₩ 360,967 | ₩ 286,770 |
Online games | 89,545 | 42,322 | 39,453 |
Mobile games | 298,324 | 301,903 | 239,489 |
Other revenue | 18,084 | 16,742 | 7,828 |
Cost of revenues | 239,045 | 265,788 | 210,044 |
Gross profit | 166,908 | 95,179 | 76,726 |
Selling, general and administrative expenses | (62,400) | (36,873) | (34,820) |
Research and development | (15,034) | (9,503) | (8,018) |
Other income | 658 | 353 | 122 |
Other expenses | (1,764) | (493) | (642) |
Operating profit | 88,368 | 48,663 | 33,368 |
Finance income | 3,476 | 4,187 | 2,073 |
Finance costs | (3,833) | (1,594) | (1,002) |
Profit before income tax | 88,011 | 51,256 | 34,439 |
Income tax expenses | 25,455 | 11,526 | 3,053 |
Profit for the year | 62,556 | 39,730 | 31,386 |
Items that may be subsequently reclassified to income or loss | |||
Foreign currency translation adjustments | (1,319) | 136 | 178 |
Total comprehensive income (loss) for the year | 61,237 | 39,866 | 31,564 |
Profit (loss) attributable to: | |||
Owners of the Parent Company | 62,703 | 39,876 | 31,443 |
Non‑controlling interest | (147) | (146) | (57) |
Total comprehensive income (loss) attributable to: | |||
Owners of the Parent Company | 61,384 | 40,012 | 31,621 |
Non-controlling interest | ₩ (147) | ₩ (146) | ₩ (57) |
Earnings per share (in Korean won) | |||
Basic earnings per share | ₩ 9,023 | ₩ 5,738 | ₩ 4,525 |
Diluted earnings per share | ₩ 9,023 | ₩ 5,738 | ₩ 4,525 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - KRW (₩) ₩ in Millions | Total | Share Capital | Capital Surplus | Other Components of Equity | Retained Earnings | Attributable to Owners of the Parent Company Total | Non-Controlling Interest |
Beginning Balance at Dec. 31, 2017 | ₩ 43,998 | ₩ 3,474 | ₩ 27,164 | ₩ (40) | ₩ 13,962 | ₩ 44,560 | ₩ (562) |
Total comprehensive income (loss) for the year | |||||||
Profit (loss) for the year | 31,386 | 31,443 | 31,443 | (57) | |||
Foreign currency translation adjustments | 178 | 178 | 178 | ||||
Total comprehensive income (loss) for the year | 31,564 | 178 | 31,443 | 31,621 | (57) | ||
Transaction with owners, recognized directly in equity | |||||||
Equity transaction | (10) | (23) | (23) | 13 | |||
Ending Balance at Dec. 31, 2018 | 75,552 | 3,474 | 27,141 | 138 | 45,405 | 76,158 | (606) |
Total comprehensive income (loss) for the year | |||||||
Profit (loss) for the year | 39,730 | 39,876 | 39,876 | (146) | |||
Foreign currency translation adjustments | 136 | 136 | 136 | ||||
Total comprehensive income (loss) for the year | 39,866 | 136 | 39,876 | 40,012 | (146) | ||
Transaction with owners, recognized directly in equity | |||||||
Equity transaction | 348 | (13) | (13) | 361 | |||
Non-controlling interests | (613) | (613) | 613 | ||||
Ending Balance at Dec. 31, 2019 | 115,766 | 3,474 | 27,128 | 274 | 84,668 | 115,544 | 222 |
Total comprehensive income (loss) for the year | |||||||
Profit (loss) for the year | 62,556 | 62,703 | 62,703 | (147) | |||
Foreign currency translation adjustments | (1,319) | (1,319) | (1,319) | ||||
Total comprehensive income (loss) for the year | 61,237 | (1,319) | 62,703 | 61,384 | (147) | ||
Transaction with owners, recognized directly in equity | |||||||
Equity transaction | (17) | (18) | (18) | 1 | |||
Changes in interests in subsidiaries | 362 | 362 | |||||
Ending Balance at Dec. 31, 2020 | ₩ 177,348 | ₩ 3,474 | ₩ 27,110 | ₩ (1,045) | ₩ 147,371 | ₩ 176,910 | ₩ 438 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Cash flows from operating activities | |||
Cash generated from operations | ₩ 81,735 | ₩ 37,220 | ₩ 42,571 |
Interest received | 1,122 | 1,605 | 680 |
Interest paid | (186) | (277) | |
Income taxes paid | (12,815) | (12,177) | (7,279) |
Net cash inflow from operating activities | 69,856 | 26,371 | 35,972 |
Cash flows from investing activities | |||
Decrease(Increase) in short‑term financial instruments | (31,500) | (30,000) | 13,000 |
Decrease(Increase) in other non-current financial assets | (856) | (274) | |
Decrease(Increase) in other current assets | 3 | ||
Proceeds from disposal of property and equipment | 3 | 71 | 69 |
Proceeds from disposal of intangible assets | 20 | ||
Purchase of property and equipment | (1,071) | (983) | (1,141) |
Purchase of intangible assets | (2,625) | (1,360) | (1,108) |
Net cash inflow(outflow) in investing activities | (36,049) | (32,526) | 10,823 |
Cash flows from financing activities | |||
Proceeds from capital contribution from non-controlling interests | 362 | 359 | |
Repayment of lease liabilities | (2,893) | (2,034) | (197) |
Payment of share issuance cost | (16) | (11) | |
Net cash outflow in financing activities | (2,547) | (1,686) | (197) |
Effect of exchange rate changes on cash and cash equivalents | (56) | 1,218 | 358 |
Net increase (decrease) in cash and cash equivalents | 31,204 | (6,623) | 46,956 |
Cash and cash equivalents at beginning of the year | 79,428 | 86,051 | 39,095 |
Cash and cash equivalents at end of the year | ₩ 110,632 | ₩ 79,428 | ₩ 86,051 |
General Information
General Information | 12 Months Ended |
Dec. 31, 2020 | |
General Information [Abstract] | |
General Information | 1. General Information The Parent Company GRAVITY CO., LTD. (“ the Parent Company”) was incorporated on April 4, 2000 to engage in developing and publishing online and mobile games and other related Korea principal product, Ragnarok a online role playing game, was commercially launched in August 2002 On February 8, 2005, the Parent Company Nasdaq Stock Market , and issued 1,400,000 shares of common stocks in the form s ”) under the symbol “GRVY”. As of December 31, 2020, the Parent Company’s total paid-in capital amounts to W Number of shares Ownership (%) GungHo Online Entertainment, Inc. 4,121,737 59.31 Others 2,827,163 40.69 6,948,900 100.00 Consolidated Subsidiaries Details of the consolidated subsidiaries as of December 31, 2020 and 2019 are as follows: Percentage of ownership (%) Subsidiary Location 2020 2019 Fiscal year end Main business Gravity Interactive, Inc. U.S.A. 100.00 100.00 December Online and mobile game services Gravity NeoCyon, Inc. (*1) (Formerly, NeoCyon, Inc.) Korea 99.53 99.24 December Mobile game development and service Gravity Communications Co., Ltd. Taiwan 100.00 100.00 December Online and mobile game services Gravity Entertainment Corporation (*2) Japan — 100.00 December Animation production, distribution, and game services PT Gravity Game Link Indonesia 70.00 70.00 December Online and mobile game services Gravity Game Tech Co., Ltd. Thailand 100.00 100.00 December Online and mobile game services Gravity Game Arise Co., Ltd. Japan 100.00 100.00 December Online and mobile game services (*1) During the year ended December 31, 2020, the Parent Company participated in paid-in capital increase of Gravity NeoCyon, Inc., which resulted in the increase of ownership interest of the Parent Company. (*2) Gravity Entertainment Corporation was liquidated during 2020. Condensed Financial Information of Subsidiaries Details of the condensed financial information of subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 Subsidiaries Total assets(*1) Total liabilities(*1) Revenue(*1) Profit(loss) For the period(*1) (In millions of Korean won) Gravity Interactive, Inc. W 31,849 W 23,405 W 123,055 W 1,138 Gravity Entertainment Corporation (*2) — — — 8 Gravity NeoCyon, Inc. (Formerly, NeoCyon, Inc.) 11,069 7,422 26,368 (1,754 ) Gravity Communications Co., Ltd. 33,717 10,070 41,677 12,281 PT Gravity Game Link 2,185 664 4,881 (315 ) Gravity Game Tech Co., Ltd. 21,093 6,315 39,147 13,989 Gravity Game Arise Co., Ltd. 2,637 2,066 2,483 82 (* 1 ) Amount before offsetting the related party transactions. (*2) Gravity Entertainment Corporation was liquidated during 2020. 2019 Subsidiaries Total assets(*) Total liabilities(*) Revenue(*) Profit(loss) For the period(*) (In millions of Korean won) Gravity Interactive, Inc. W 39,296 W 29,112 W 230,029 W 12,804 Gravity Entertainment Corporation 44 52 263 (443 ) Gravity NeoCyon, Inc. (Formerly, NeoCyon, Inc.) 9,145 6,728 25,347 (982 ) Gravity Communications Co., Ltd. 19,964 8,227 21,811 5,637 PT Gravity Game Link 960 202 745 (437 ) Gravity Game Tech Co., Ltd. 4,008 2,624 2,295 (1,973 ) Gravity Game Arise Co., Ltd. 1,841 1,343 771 (35 ) (*) Amount before offsetting the related party transactions. |
Basis of Accounting
Basis of Accounting | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Basis of Accounting | 2. Basis of Accounting Basis of Preparation These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by International Accounting Standard Board (“IASB”). These consolidated financial statements were approved by the board of directors meeting held on April 28, 2021. Basis of Measurement The consolidated financial statements have been prepared on the historical cost basis. Use of Judgements and Estimates The preparation of the consolidated financial statements in conformity with IFRS requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. Critical Judgements Information about critical judgments in applying accounting policies that have the most significant effect on the amounts recognized in the consolidated financial statements is included in the following notes. i) Deferred Revenue As discussed in Note 4, the Group sells virtual currency and items that can be used in online and mobile games to game users. For each game in each country, the Group estimates and applies the game user's life cycle in order to recognize revenue generated by micro-transactions. The game user's life cycle is estimated based on the average period from the game user's first payment date to the last access date for active paying game users. The Group considers a game user as an active user if the period between the time of the user’s most recent access of the game and the end of reporting period equals or is shorter than the estimated game users’ life cycle. For remaining virtual currency and items that active users own at period-end, the related revenue is deferred considering whether the virtual currency is refundable and items’ attributes. The group estimates the user’s life cycle by analyzing game users’ activity patterns such as payment and access and it periodically reviews if there is any change of these estimates. ii) Deferred Tax Assets When the Group assesses the realizability of deferred tax assets, the Group considers its performance, general economic environment, projected future taxable income, and periods available to utilize tax loss carryforwards and tax credit carryforwards. The Group periodically monitors the estimates used in assessing the realizability of the deferred tax assets. The amount of deferred tax assets may be changed if estimated future taxable income during the carryforward periods was changes. |
Changes in Accounting Policies
Changes in Accounting Policies and Disclosures | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Changes In Accounting Estimates [Abstract] | |
Changes in Accounting Policies and Disclosures | 3. Changes in Accounting Policies and Disclosures New and Amended Standards Adopted by the Group The Group has applied the following standards and amendments for the first time for the annual reporting period commencing January 1, 2020. Amendments to IAS 1 Presentation of Financial Statements and IAS 8 Accounting policies, changes in accounting estimates and errors – Definition of Material The amendments clarify the definition of material. Information is material if omitting, misstating or obscuring it could reasonably be expected to influence the decisions that the primary users of general-purpose financial statements make on the basis of those financial statements. The amendments do not have a significant impact on the consolidated financial statements. Amendments to the Conceptual Framework for Financial Reporting The concept of measurement, presentation and disclosure, and derecognition was introduced for financial reporting, and the definition and recognition criteria for assets and liabilities were amended. In addition, the uncertainty in the measurement of prudence, stewardship, measurement uncertainty and substance over form were clarified. |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Significant Accounting Policies | 4. Significant Accounting Policies The principal accounting policies applied in the preparation of these consolidated financial statements in accordance with the IFRS are set out below. These policies have been consistently applied to all years presented, except if mentioned otherwise in Note 3. Consolidation The Group has prepared the consolidated financial statements in accordance with IFRS 10 Consolidated Financial Statements Subsidiaries are all entities over which Group has control. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are consolidated from the date on which control is obtained by the Group. They are deconsolidated from the date on which control ceases. The acquisition method of accounting is used to account for business combinations by the Group. The consideration transferred is measured at the fair values of the assets transferred, and identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. The Group recognizes any non-controlling interest in the acquired entity on an acquisition-by-acquisition basis either at fair value or at the non-controlling interest’s proportionate share of the acquired entity’s net identifiable assets. Acquisition-related costs are expensed as incurred. The excess of consideration transferred, amount of any non-controlling interest in the acquired entity and acquisition-date fair value of any previous equity interest in the acquired entity over the fair value of the net identifiable assets acquired is recoded as goodwill. If those amounts are less than the fair value of the net identifiable assets of the business acquired, the difference is recognized directly in the profit or loss as a bargain purchase. Intercompany transactions, balances and unrealized gains on transactions between consolidated companies are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group. Segment Reporting Information of each operating segment is reported in a manner consistent with the internal business segment reporting provided to the chief operating decision-maker (Note 23). The CEO, as the chief operating decision-maker is responsible for allocating resources and assessing performance of the operating segments. Cash and Cash Equivalents Cash and cash equivalents include on hand, held at call with financial institutions, other investments with original maturities of or less that are readily convertible to known amounts of cash Financial Assets Classification At initial recognition, the Group classifies its financial assets in the following measurement categories: • measured at fair value through profit or loss • measured at fair value through other comprehensive income, and • measured at amortized cost. The classification depends on the Group’s business model for managing the financial assets and the contractual terms of the cash flows. For financial assets measured at fair value, gains and losses will either be recorded in profit or loss or other comprehensive income. For investments in debt instruments, this will depend on the business model in which the investment is held. The Group reclassifies debt investments when, and only when its business model for managing those assets changes. For investments in equity instruments that are not held for trading, this will depend on whether the Group has made an irrevocable election at the time of initial recognition to account for the equity investment at fair value through other comprehensive income. Changes in fair value of equity instruments not elected as equity investment at fair value through other comprehensive income will be recognized in profit or loss. Impairment The Group recognizes loss allowances for expected credit losses (“ECLs”) on: • financial assets measured at amortized cost; • debt investments measured at FVOCI; and • contract assets under IFRS 15. The Group measures loss allowances at an amount equal to lifetime ECLs, except for the following, which are measured at 12-month ECLs: • debt securities that are determined to have low credit risk at the reporting date; and • other debt securities and bank balances for which credit risk (i.e. the risk of default occurring over the expected life of the financial instrument) has not increased significantly since initial recognition . Loss allowances for accounts and other receivables (including lease receivables) and contract assets are always measured at an amount equal to lifetime ECLs. When determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating ECLs, the Group considers reasonable and supportable information that is relevant and available without undue cost or effort. This includes both quantitative and qualitative information and analysis, based on the Group’s historical experience and informed credit assessment that includes forward-looking information. The Group considers a financial asset to be in default when: • the debtor is unlikely to pay its obligations to the Group in full, without recourse by the Group to actions such as realizing security (if any is held); or • the financial asset is more than 90 days past due. Lifetime ECLs are the ECLs that result from all possible default events over the expected life of a financial instrument. 12-month ECLs are the portion of ECLs that result from default events that are possible within the 12 months after the reporting date (or a shorter period if the expected life of the instrument is less than 12 months). The maximum period considered when estimating ECLs is the maximum contractual period over which the Group is exposed to credit risk. ECLs are a probability-weighted estimate of credit losses. Credit losses are measured as the present value of all cash shortfalls (i.e. the difference between the cash flows due to the entity in accordance with the contract and the cash flows that the Group expects to receive). ECLs are discounted at the effective interest rate of the financial asset. At each reporting date, the Group assesses whether financial assets carried at amortized cost and debt securities at FVOCI are credit-impaired. A financial asset is ‘credit-impaired’ when one or more events that have a detrimental impact on the estimated future cash flows of the financial asset have occurred. Loss allowances for financial assets measured at amortized cost are deducted from the gross carrying amount of the assets. For debt securities at FVOCI, the loss allowance is charged to profit or loss and is recognized in other comprehensive income. Recognition Regular way purchases and sales of financial assets are recognized or derecognized on trade-date, the date on which the Group commits to purchase or sell the asset. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the Group has transferred substantially all the risks and rewards of ownership. If a transfer does not result in derecognition because the Group has retained substantially all the risks and rewards of ownership of the transferred asset, the Group continues to recognize the transferred asset in its entirety and recognizes a financial liability for the consideration received. Offsetting of Financial Instruments Financial assets and liabilities are offset and the net amount reported in the consolidated statement of financial position where there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis or realize the assets and settle the liability simultaneously. The legally enforceable right must not be contingent on future events and must be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of the Group or the counterparty. Property and Equipment Property and equipment are initially measured cost. The of property and equipment expenditures arising directly from the construction or acquisition of the asset, any costs bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management, and the initial estimate of the costs item on which it is located. Property and equipment, subsequently, are carried at cost less accumulated depreciation and accumulated impairment losses. Subsequent costs are recognized in the carrying amount of property and equipment at cost or, if appropriate, as a separate item if it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be reliably measured. Depreciation of all property and equipment, except for land, is calculated using the straight-line method to allocate their cost or revalued amounts, net of their residual values, over their estimated useful lives as follows: Computer and other equipment 4 years Furniture and fixtures 4 years Vehicles 4 years Leasehold improvements 4 years Right-of-use assets (*) (*) The Group depreciates the right-of-use asset from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term using the straight-line method. Depreciation method, residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period. The change is accounted for as a change in an accounting estimate. Intangible Assets Intangible assets, except for goodwill, are initially recognized at its historical cost, and carried at cost less accumulated amortization and accumulated impairment losses. The Group amortizes intangible assets with a definite useful life using the straight-line method over the following periods: Software 1 ~ 3 years Industrial property rights 10 years Other intangible assets 3 years Expenditure on research activities is recognized expenses as incurred. Development expenditure is capitalized only if the expenditure can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable and the Group intends to and has sufficient resources to complete development and to use or sell the asset. Other development expenditure is recognized in expenses as incurred. The Group entered into a game licensing agreement with a number of third parties to gain exclusive rights to the games developed by those companies. The license fee payments are recognized as other intangible assets and amortized over the term of the contract using the straight-line method. Impairment of Non-financial Assets At each reporting date, the Group reviews the carrying amounts of its non-financial assets (other than contract assets, incremental costs of obtaining a contract, costs to fulfil a contract, employee benefit related assets and deferred tax assets) to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated. Goodwill and intangible assets that have indefinite useful lives or that are not yet available for use, irrespective of whether there is any indication of impairment, are tested for impairment annually by comparing their recoverable amounts to their carrying amounts The recoverable amount of an asset or cash generating unit (“CGU”) is the greater of its value in use and its fair value less costs to sell. Value in use is based on the estimated future cash flows, discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or CGU. An impairment loss is recognized in profit or loss if the carrying amount of an asset or CGU exceeds its recoverable amount. Leases At inception of a contract, the Group assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the Group uses the definition of a lease in IFRS 16. Effective January 1, 2019, the Group has changed its method of accounting for leases as a result of adoption of IFRS 16, Leases, using the modified retrospective approach. i) As a Lessee At commencement or on modification of a contract that contains a lease component, the Group allocates the consideration in the contract to each lease component on the basis of its relative stand-alone prices. However, for the leases of datacenter the Group has elected not to separate non-lease components and account for the lease and non-lease components as a single lease component. The Group recognizes a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is located, less any lease incentives received. The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the end of the lease term, unless the lease transfers ownership of the underlying asset to the Group by the end of the lease term or the cost of the right-of-use asset reflects that the Group will exercise a purchase option. In that case the right-of-use asset will be depreciated over the useful life of the underlying asset, which is determined on the same basis as those of property and equipment. In addition, the right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Group’s incremental borrowing rate. Generally, the Group uses its incremental borrowing rate as the discount rates. The Group determines its incremental borrowing rate by obtaining interest rates from various external financing sources and makes certain adjustments to reflect the terms of the lease and type of the asset leased. Lease payments included in the measurement of the lease liability comprise the following: • fixed payments, including in-substance fixed payments; • variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the commencement date; • amounts expected to be payable under a residual value guarantee; and • the exercise price under a purchase option that the Group is reasonably certain to exercise, lease payments in an optional renewal period if the Group is reasonably certain to exercise an extension option, and penalties for early termination of a lease unless the Group is reasonably certain not to terminate early. The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, if there is a change in the Group’s estimate of the amount expected to be payable under a residual value guarantee, if the Group changes its assessment of whether it will exercise a purchase, extension or termination option or if there is a revised in-substance fixed lease payment. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset, or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero. The Group other current liabilities’ ‘other non-current liabilities’ consolidated The Group has elected not to recognize right-of-use assets and lease liabilities for leases of low-value assets and short-term leases. The Group recognizes the lease payments associated with these leases as an expense on a straight-line basis over the lease term. ii) As a Lessor At inception or on modification of a contract that contains a lease component, the Group allocates the consideration in the contract to each lease component on the basis of their relative stand-alone prices. When the Group acts as a lessor, it determines at lease inception whether each lease is a finance lease or an operating lease. To classify each lease, the Group makes an overall assessment of whether the lease transfers substantially all of the risks and rewards incidental to ownership of the underlying asset. If this is the case, then the lease is a finance lease; if not, then it is an operating lease. As part of this assessment, the Group considers certain indicators such as whether the lease is for the major part of the economic life of the asset. When the Group is an intermediate lessor, it accounts for its interests in the head lease and the sub-lease separately. It assesses the lease classification of a sub-lease with reference to the right-of-use asset arising from the head lease, not with reference to the underlying asset. If a head lease is a short-term lease to which the Group applies the exemption described above, then it classifies the sub-lease as an operating lease. If an arrangement contains lease and non-lease components, then the Group applies IFRS 15 to allocate the consideration in the contract. The Group applies the derecognition and impairment requirements in IFRS 9 to the net investment in the lease. The Group further regularly reviews estimated unguaranteed residual values used in calculating the gross investment in the lease. The Group recognizes lease payments received under operating leases as income on a straight-line basis over the lease term as part of ‘other revenue’. Financial Liabilities Classification and Measurement The Group’s financial liabilities at fair value through profit or loss are financial instruments held for trading. A financial liability is held for trading if it is incurred principally for the purpose of repurchasing in the near term. A derivative that is not a designated as hedging instruments and an embedded derivative that is separated are also classified as held for trading. The Group classifies non-derivative financial liabilities, except for financial liabilities at fair value through profit or loss, financial guarantee contracts and financial liabilities that arise when a transfer of financial assets does not qualify for derecognition, as financial liabilities carried at amortized cost and present as ‘account payables,’ ‘other current liabilities,’ and ‘other non-current liabilities’ in the consolidated statement of financial position. Derecognition Financial liabilities are removed from the consolidated statement of financial position when they are extinguished; for example, when the obligation specified in the contract is discharged or cancelled or expired or when the terms of an existing financial liability are substantially modified. The difference between the carrying amount of a financial liability extinguished or transferred to another party and the consideration paid (including any non-cash assets transferred or liabilities assumed) is recognized in profit or loss. Provisions and Contingencies Provisions for legal claims, service warranties and make good obligations Group obligation an outflow of resources the amount reliably estimated Provisions are measured at the present value of management's best estimate of the required to settle the present obligation at the end of the reporting period. The discount rate used reflects current market assessments of the time value of money and the risks specific to the liability. In addition, when there is a possible obligation that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity or a present obligation that arises from past events but is not recognized because it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation or the amount of the obligation cannot be measured with sufficient reliability, a disclosure regarding the contingent liabilities is made in the notes to the financial statements. Foreign Currency Translation Functional and Presentation Currency Items included in the consolidated of each Foreign Operations If the presentation currency of the Group is different from a foreign operation’s functional currency, the financial statements of the foreign operation are translated into the presentation currency using the following methods: The assets and liabilities of foreign operations, whose functional currency is not the currency of a hyperinflationary economy, are translated to presentation currency at exchange rates at the end of reporting period. The income and expenses of foreign operations are translated to functional currency at exchange rates at the dates of the transactions. Foreign currency differences are recognized in other comprehensive income. Any goodwill arising on the acquisition of a foreign operation and any fair value adjustments to the carrying amounts of assets and liabilities arising on the acquisition of that foreign operation is treated as assets and liabilities of the foreign operation. Thus, they are expressed in the functional currency of the foreign operation and translated at the exchange rates at the end of reporting date. When a foreign operation is disposed of, the relevant amount in the translation is transferred to profit or loss as part of the profit or loss on disposal. On the partial disposal of a subsidiary that includes a foreign operation, the relevant proportion of such cumulative amount is reattributed to non-controlling interest. In any other partial disposal of a foreign operation, the relevant proportion is reclassified to profit or loss. Transactions and Balances Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies at the exchange rate at the reporting date are generally recognized in profit or loss. They are recognized in other comprehensive income if they relate to qualifying cash flow hedges and qualifying effective portion of net investment hedges, or are attributable to monetary part of the net investment in a foreign operation. Exchange differences arising on non-monetary financial assets and liabilities such as equity instruments at fair value through profit or loss and equity instruments at fair value through other comprehensive income are recognized in profit or loss and other comprehensive income, respectively, as part of the fair value gain or loss. Statement of Cash Flow s The Group has elected to present cash flows from operating activities using the indirect method. Cash flows denominated in a foreign currency are reported using average exchange rate during the fiscal year. Revenue from Contracts with Customers The Group engages in game licensing, IP licensing and game publishing businesses. Revenue is measured at the fair value of the consideration received or receivable for the sale of goods or rendering of services arising from the normal course of the business. Amounts recognized as revenue are net of value added taxes, returns, rebates and discounts. Revenue from Micro-transaction and Subscription The Group recognizes micro-transaction revenue of online and mobile games when the Group satisfies its performance obligations. When the performance obligations are satisfied depends on the natures of virtual currency and in-game virtual items. Items are categorized into consumable, periodic, and permanent in-game virtual items. Consumable in-game virtual items are items that are consumed by the specific action of a game user, and periodic in-game virtual items are items that can be used by game users repeatedly during a specified effective period. Permanent in-game virtual items are items that can be used by game users repeatedly without an effective period. The accounting policy on revenue recognition is described below in relation to micro-transaction revenue from the sales of virtual currency and items. i) Online Games At the end of the reporting period, the Group defers the total amount of remaining virtual currency as the Group has the obligation to refund for remaining virtual currency. For consumable in-game virtual items, the related revenue is recognized when the in-game virtual item is consumed. The Group defers the revenue for remaining amounts of virtual items owned by active users within the estimated user life cycle at the end of the reporting period. For periodic in-game virtual items, the related revenue is recognized ratably over the effective period. The Group defers the revenue for remaining effective period. For permanent in-game virtual items, revenue is recognized ratably over the estimated user life cycle. The Group defers the revenue for remaining period of estimated user life cycle at the end of the reporting period. The Group recognizes online subscription revenue as game users make use of in-game premium features. Subscription revenue comes from subscription fee for internet cafés. Prepaid subscription fees from internet cafés are deferred and recognized as revenue monthly based on actual hours used. ii) Mobile Games Mobile game users purchase virtual currency that can be used to purchase in-game items. The Group has no refund obligation after the game users purchase virtual currency. At the end of the reporting period, the Group defers the revenue for the remaining virtual currency possessed by active paying users within the estimated user life cycle. For consumable in-game virtual items, revenue is recognized when the in-game virtual item is consumed. The Group defers the revenue for remaining amount of virtual items possessed by active users within the estimated user life cycle at the end of the reporting period. For periodic in-game virtual items, revenue is recognized ratably over the effective period. The Group defers the revenue for remaining effective period. For permanent in-game virtual items, revenue is recognized ratably over the estimated user life cycle. The Group defers the revenue for remaining period of estimated user life cycle at the end of the reporting period. Online and Mobile games - Royalties and License Fees In connection with the Group’s online and mobile games, the Group enters into license agreement in connection with the right to access the intellectual property, such as game character images and stories. The Group believes that the agreement is a promise to provide a right to the customer to access the related IP because the Group will undertake activities that significantly affect the intellectual property to which the customer has rights, the rights granted by the license directly expose the customer to any positive or negative effects of the Group’s activities, and those activities do not result in the transfer of a good or a service to the customer as those activities occur. Therefore, the Group’s performance obligations in connection with these agreements are satisfied over time. Since the nature of the license promise is to provide customers with access to the intellectual property of the Group during the license period, the Group's performance obligation corresponds to the performance obligation satisfied over time, and revenue is recognized over the license period. The Group recognizes revenue for the license fee through the straight-line method during the contract period, and for the running royalty revenue, the revenue is recognized on an accrual basis at the time the revenue distribution is established in accordance with the terms of the contract. When the running royalty revenue based on the contractual royalty rate and the actual revenue of the licensee exceeds the ratably recognized minimum guarantee, the excess amount is then recognized as revenue and accounts receivable. Other Revenue Other revenue consists of revenue from sales of console games, game character merchandise, animation and other services, including website development and operation services for third parties. Revenues from are recognized by measuring progress is measured by reference to the costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Incremental Costs of Obtaining Contract The Group pays platform processing fees to operate mobile games on third party platforms. These fees are charged based on the game users’ purchases in cash, and considered as incremental cost of obtaining contracts with customer and therefore capitalized. The Group presents these costs as prepaid expense and amortizes them to costs of revenue at the same time when the related revenue of the services provided to the game users are recognized. Earnings per Share Basic earnings per share is calculated by dividing profit attributable to owners of the Parent by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net earnings by the weighted average number of common shares outstanding, increased by common stock equivalents. However, for the years ended December 31, 2020 and 2019, there have been no common stock equivalents outstanding. Current and Deferred Tax The tax expense for the period consists of current and deferred tax. Current and deferred tax is recognized in profit or loss, except to the extent that it relates to items recognized in other comprehensive income or directly in equity. The tax expense is measured at the amount expected to be paid to the taxation authorities, using the tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred income tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. However, deferred income tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss. Deferred tax assets are recognized only if it is probable that future taxable income will be available to utilize those temporary differences and tax credit. The Group recognizes a deferred tax liability all taxable temporary differences associated with investments in subsidiaries, associates, and interests in joint arrangements, except to the extent that the Group is able to control the timing of the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future. In addition, The Group recognizes a deferred tax asset for all deductible temporary differences arising from such investments to the extent that it is probable the temporary difference will reverse in the foreseeable future and taxable profit will be available against which the temporary difference can be utilized. Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and liabilities and when the deferred tax balances relate to the same taxation authority. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends to settle on a net basis. Employee Benefits Short-term Employee Benefits Short-term employee benefits are employee benefits that are due to be settled within 12 months after the end of the period in which the employees render services. When an employee has rendered a to the Group during an accounting period, the Group recognizes the undiscounted of short-term employee benefits in exchange for that Defined Contribution Pensio |
Cash and Cash Equivalents
Cash and Cash Equivalents | 12 Months Ended |
Dec. 31, 2020 | |
Cash And Cash Equivalents [Abstract] | |
Cash and Cash Equivalents | 5. Cash and Cash Equivalents (1) Cash and cash equivalents as of December 31, 2020 and 2019 December 31, 2020 December 31, 2019 (In millions of Korean won) Deposits in banks 95,573 52,941 Money market instruments 15,059 26,487 Total W 110,632 W 79,428 (2) The Group does not have any restricted cash and cash equivalents as of December 31, 2020 and 2019. |
Financial Instruments by Catego
Financial Instruments by Category | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Financial Instruments [Abstract] | |
Financial Instruments by Category | 6. Financial Instruments by Category (1) Carrying amounts of financial instruments by category as of December 31, 2020 and 2019 are as follows: December 31, 2020 December 31, 2019 Financial assets at amortized cost Financial assets at amortized cost Financial assets (In millions of Korean won) Cash and cash equivalents W 110,632 W 79,428 Short-term financial instruments 71,000 39,500 Accounts receivables, net 59,761 32,253 Other receivables, net 8 56 Other current financial assets 818 233 Other non-current financial assets 1,324 1,770 Total W 243,543 W 153,240 December 31, 2020 December 31, 2019 Financial liabilities at amortized cost Financial liabilities at amortized cost Financial liabilities (In millions of Korean won) Accounts payables W 54,090 W 37,689 Accrued expenses (*) 62 19 Other current liabilities 2,653 1,986 Other non-current liabilities 3,247 3,008 Total W 60,052 W 42,702 (*) Accrued expenses not applicable to financial liabilities are excluded. (2) Net income and expenses from financial instruments for the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 Financial assets at amortized cost (In millions of Korean won) Interest income W 1,088 W 1,626 W 819 Differences in foreign currency (1,796 ) 1,267 159 Financial liabilities at amortized cost Interest expense (186 ) (277 ) — Differences in foreign currency 537 (22 ) 105 (3) Fair Value Hierarchy Fair values are categorized into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows: • Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities; • Level 2: all inputs other than quoted prices included in Level 1 that are observable (either directly that is, prices, or indirectly that is, derived from prices) for the asset or liability; • Level 3: unobservable inputs for the asset or liability. The fair value of financial instruments traded in an active market is determined based on the quoted market price as of the end of the reporting period. If the quoted prices are readily and regularly available through exchanges, sellers, brokers, industry groups, rating agencies or regulators and such prices represent actual market transactions that occur regularly between independent parties, they are considered active markets. These products are included in Level 1. The fair value of financial instruments that are not traded in an active market is determined using valuation techniques. These valuation techniques use as much market observable information as possible and use the least amount of group-specific information. At this time, if all the significant input variables required to measure the fair value of a good are observable, the good is included in Level 2. If more than one significant input variable is not based on observable market information, the item is included in Level 3. The valuation techniques used to measure the fair value of a financial instrument include: - Market price or dealer price of a similar financial instrument - The fair value of derivative instruments is determined by discounting the amount to present value using the leading exchange rate as of the end of the reporting period For the other financial instruments, the Group applied other valuation techniques such as discounted cash flow, etc. For the financial assets and liabilities of which carrying amount are reasonable approximation of fair value, those were excluded from fair value disclosure. |
Accounts and Other Receivables
Accounts and Other Receivables | 12 Months Ended |
Dec. 31, 2020 | |
Trade And Other Receivables [Abstract] | |
Accounts and Other Receivables | 7. Accounts and Other Receivables (1) Accounts and other receivables as of December 31, 2020 and 2019 are as follows: December 31, 2020 December 31, 2019 (In millions of Korean won) Accounts receivables Non-related party W 57,793 W 29,697 Related party 2,547 2,721 Less : Loss allowance (579 ) (165 ) Accounts receivables, net W 59,761 W 32,253 December 31, 2020 December 31, 2019 (In millions of Korean won) Other receivables Non-related party W 13 W 60 Related party — — Less: Loss allowance (5 ) (4 ) Other receivables, net W 8 W 56 (2) Changes in the loss allowance of accounts and other receivables during the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 (In millions of Korean won) Accounts receivables Beginning balance W 165 W 22 W 123 Bad debt expenses 712 281 55 Reversal of allowance for doubtful accounts (50 ) — — Write-off (248 ) (138 ) (156 ) Ending balance W 579 W 165 W 22 2020 2019 2018 (In millions of Korean won) Other receivables Beginning balance W 4 W 84 W 46 Bad debt expenses 1 — 40 Reversal of allowance for doubtful accounts — (34 ) — Write-off — (46 ) (2 ) Ending balance W 5 W 4 W 84 (3) Expected credit losses (ECLs) and credit risk exposures for accounts and other receivables as of December 31, 2020 and 2019 are as follows: ① Accounts receivables As of December 31, 2020 Expected loss rate Carrying amount Loss allowance (In millions of Korean won) Not due or overdue less than 90 days 0.1 % W 57,661 W 54 More than 90 days ~ Less than 180 days 5.0 % 2,138 107 More than 180 days ~ Less than 270 days 55.3 % 276 153 More than 270 days ~ Less than 1 year 99.9 % 79 79 More than 1 year 100.0 % 186 186 Total W 60,340 W 579 As of December 31, 2019 Expected loss rate Carrying amount Loss allowance (In millions of Korean won) Not due or overdue less than 90 days 0.3 % W 31,146 W 97 More than 90 days ~ Less than 180 days 3.6 % 1,213 44 More than 180 days ~ Less than 270 days 21.1 % 30 6 More than 270 days ~ Less than 1 year 51.9 % 24 12 More than 1 year 100.0 % 6 6 Total W 32,419 W 165 ② Other receivables As of December 31, 2020 Expected loss rate Carrying amount Loss allowance (In millions of Korean won) Not due or overdue less than 90 days — % W 8 W — More than 90 days ~ Less than 180 days — % — — More than 180 days ~ Less than 270 days — % — — More than 270 days ~ Less than 1 year 100 % 5 5 Total W 13 W 5 As of December 31, 2019 Expected loss rate Carrying amount Loss allowance (In millions of Korean won) Not due or overdue less than 90 days 4.3 % W 57 W 2 More than 90 days ~ Less than 180 days 32.8 % 2 1 More than 180 days ~ Less than 270 days 99.6 % 1 1 More than 270 days ~ Less than 1 year 100.0 % 1 — Total W 61 W 4 In assessing the recoverability of accounts the Group considers accounts and other The Group applies simplified approach for account and other receivables to measure the loss allowance at an amount equal to lifetime expected credit losses. To measure the expected credit losses, account and other receivables are grouped based on credit risk characteristics and the duration of past due balances. ECLs are a probability-weighted estimate of credit losses. Credit losses are measured as the present value of all cash shortfalls. The Group considers reasonable and supportable information that is relevant and available without undue cost or effort. This includes the Group’s historical experience and informed credit assessment that includes forward-looking information. |
Property and Equipment
Property and Equipment | 12 Months Ended |
Dec. 31, 2020 | |
Property Plant And Equipment [Abstract] | |
Property and Equipment | 8. Property and Equipment (1) Details of property and equipment as of December 31, 2020 and 2019 are as follows: December 31, 2020 Acquisition price Accumulated depreciation Book amount (In millions of Korean won) Computer and other equipment W 6,074 W (4,694 ) W 1,380 Furniture and fixture 2,038 (1,728 ) 310 Construction in progress 128 — 128 Vehicle 9 (1 ) 8 Leasehold improvements 1,160 (1,028 ) 132 Right-of-use assets 11,500 (5,763 ) 5,737 Total W 20,909 W (13,214 ) W 7,695 December 31, 2019 Acquisition price Accumulated depreciation Book amount (In millions of Korean won) Computer and other equipment W 5,671 W (4,614 ) W 1,057 Furniture and fixture 1,984 (1,541 ) 443 Leasehold improvements 1,291 (1,074 ) 217 Right-of-use assets 8,627 (3,681 ) 4,946 Total W 17,573 W (10,910 ) W 6,663 (2) Changes in property and equipment for the years ended December 31, 2020, 2019 2020 Computer and other equipment Furniture and fixture Construction in progress Vehicle Leasehold improvements Right-of- use assets Total (In millions of Korean won) Beginning balance W 1,057 W 443 W — W — W 217 W 4,946 W 6,663 Acquisitions/Capital expenditure 850 81 128 9 3 3,784 4,855 Depreciation (529 ) (213 ) — (1 ) (83 ) (2,957 ) (3,783 ) Disposals (1 ) (1 ) — — (2 ) (13 ) (17 ) Foreign exchange differences 3 — — — (3 ) (23 ) (23 ) Ending balance W 1,380 W 310 W 128 W 8 W 132 W 5,737 W 7,695 2019 Computer and other equipment Furniture and fixture Leasehold improvements Right-of-use assets Total (In millions of Korean won) Beginning balance W 888 W 484 W 126 W — W 1,498 Recognition of right-of-use assets on initial application of IFRS 16 (199 ) — — 4,453 4,254 Acquisitions 711 211 163 2,637 3,722 Depreciation (344 ) (198 ) (71 ) (2,135 ) (2,748 ) Disposals — (58 ) (2 ) (15 ) (75 ) Foreign exchange differences 1 4 1 6 12 Ending balance W 1,057 W 443 W 217 W 4,946 W 6,663 2018 Computer and other equipment Furniture and fixture Leasehold improvements Total (In millions of Korean won) Beginning balance W 654 W 165 W 127 W 946 Acquisition 550 472 119 1,141 Depreciation (297 ) (133 ) (115 ) (545 ) Disposal (32 ) (22 ) (5 ) (59 ) Foreign exchange differences 13 2 — 15 Ending balance W 888 W 484 W 126 W 1,498 (3) Classification of depreciation expenses in the statements of comprehensive income for the years ended December 31, 2020, 2019 and 2020 2019 2018 (In millions of Korean won) Cost of revenues W 2,123 W 1,795 W 260 Selling, general and administrative expenses 1,424 761 233 Research and development 236 192 52 Total W 3,783 W 2,748 W 545 (4) As of the end of the reporting period, there are no property and equipment that are pledged as collateral for the Group’s debts . |
Intangible Assets
Intangible Assets | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Intangible Assets [Abstract] | |
Intangible Assets | 9. Intangible Assets (1) Details of intangible assets as of December 31, 2020 and are as follows December 31, 2020 (In millions of Korean Won) Acquisition price Accumulated amortization(*) Carrying Amount Software W 14,303 W (12,069 ) W 2,234 Industrial property rights 859 (527 ) 332 Other intangible assets 4,546 (3,749 ) 797 Total W 19,708 W (16,345 ) W 3,363 December 31, 2019 (In millions of Korean Won) Acquisition price Accumulated amortization(*) Carrying Amount Software W 12,316 W (11,172 ) W 1,144 Industrial property rights 674 (488 ) 186 Other intangible assets 3,820 (3,433 ) 387 Total W 16,810 W (15,093 ) W 1,717 (*) Accumulated amortization includes the amount of accumulated impairment loss. (2) Changes in intangible assets for the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 Software Industrial property rights License Other intangible assets Total (In millions of Korean won) Beginning balance W 1,144 W 186 W — W 387 W 1,717 Acquisitions/Capital expenditure 1,986 185 — 725 2,896 Amortization (897 ) (39 ) — (201 ) (1,137 ) Disposals — — — — — Impairment(*) — — — (115 ) (115 ) Foreign exchange differences 1 — — 1 2 Ending balance W 2,234 W 332 W — W 797 W 3,363 (*) The Group recognized Korean Won 115 2019 Software Industrial property rights License Other intangible assets Total (In millions of Korean won) Beginning balance W 991 W 72 W 57 W 43 W 1,163 Acquisitions 951 153 — 410 1,514 Amortization (807 ) (27 ) (5 ) (66 ) (905 ) Disposals (8 ) (12 ) — — (20 ) Impairment(*) — — (52 ) — (52 ) Foreign exchange differences 17 — — — 17 Ending balance W 1,144 W 186 W — W 387 W 1,717 (*) The Group recognized Korean Won 52 2018 Software Industrial property rights License Other intangible assets Total (In millions of Korean won) Beginning balance W 64 W 77 W 843 W 52 W 1,036 Acquisitions 1,523 16 78 — 1,617 Amortization (597 ) (21 ) (241 ) (9 ) (868 ) Disposals — — — — — Impairment(*) — — (623 ) — (623 ) Foreign exchange differences 1 — — — 1 Ending balance W 991 W 72 W 57 W 43 W 1,163 (*) The Group recognized Korean Won 623 (3) Classification of amortization in the statements of comprehensive income for the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 (In millions of Korean won) Cost of revenues W 479 W 101 W 251 Selling, general and administrative expenses 597 745 581 Research and development 61 59 36 Total W 1,137 W 905 W 868 |
Employee Benefits
Employee Benefits | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Defined Benefit Plans [Abstract] | |
Employee Benefits | 10. Employee Benefits The expenses recognized in relation to defined contribution plan for the years ended December 31, 2020, 2019 and 2018 are Won 1,968 1,812 , respectively. |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Commitments And Contingent Liabilities [Abstract] | |
Commitments and Contingent Liabilities | 11. Commitments and Contingent Liabilities The Parent Company has license agreements with GungHo Online Entertainment, Inc. and and and receives of each licensee’s revenues . In March 2016, the Parent Company them in China for five years. The development agreements with expire in March, 2021. in discussion with other prospective partners providing maintenance services after the expiration date. As of December 31, 2020, the Group entered into license various third-party publish the -party developers. Upfront paid and recognized as guaranteed capitalized and recognized as asset. As of December 31, 2020, the Parent Company benefitted from payment guarantee of USD 912,000 from KB Kookmin Bank regarding overseas IP contracts. |
Capital
Capital | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Classes Of Share Capital [Abstract] | |
Capital | 12. Capital (1) Details of common shares as of December 31, 2020 and 2019 are as follows: December 31, 2020 December 31, 2019 (In Korean won and number of shares) Number of authorized shares 40,000,000 40,000,000 Value per share W 500 W 500 Number of shares issued 6,948,900 6,948,900 Common shares W 3,474,450,000 W 3,474,450,000 (2) Details of capital surplus as of December 31, 2020 and 2019 are as follows: December 31, 2020 December 31, 2019 (In millions of Korean won) Additional paid in capital W 25,304 W 25,322 Other capital surplus 1,806 1,806 Total W 27,110 W 27,128 (3) Details of other components of equity as of December 31, 2020 and 2019 are as follows: December 31, 2020 December 31, 2019 (In millions of Korean won) Foreign currency translation adjustments W (1,045 ) W 275 (4) Details of retained earnings as of December 31, 2020 and 2019 are as follows: December 31, 2020 December 31, 2019 (In millions of Korean won) Unappropriated retained earnings W 147,371 W 84,668 (5) According to Parent company's Articles of Incorporation, Parent company may issue 2,000,000 shares of preferred stock without voting rights, and there are no preferred shares issued as of December 31, 2020 and 2019. |
Revenue from Contracts with Cus
Revenue from Contracts with Customers | 12 Months Ended |
Dec. 31, 2020 | |
Revenue From Contracts With Customers [Abstract] | |
Revenue from Contracts with Customers | 13. Revenue from Contracts with Customers (1) Details of revenue from contracts with customers based on the service contract type and the timing of satisfaction of performance obligations are as follows: 2020 2019 2018 (In millions of Korean won) Service contract Micro-transaction and subscription revenue Online game W 76,110 W 30,751 W 25,897 Mobile game 251,960 279,255 234,991 328,070 310,006 260,888 Royalties and license fees Online game 13,435 11,571 13,556 Mobile game 46,364 22,648 4,498 59,799 34,219 18,054 Others 18,084 16,742 7,828 405,953 360,967 286,770 Timing of satisfaction of performance obligations At a point in time — 175 8 Over time 405,953 360,792 286,762 W 405,953 W 360,967 W 286,770 (2) Accounts receivables, incremental costs of obtaining a contract, and contract liabilities related to contracts with customers 2020 2019 (In millions of Korean won) Accounts receivables W 59,761 W 32,253 Incremental costs of obtaining a contract (Prepaid expenses) 1,277 998 Contract liabilities (Deferred revenue) Micro-transaction and subscription revenue 12,886 8,742 Royalties and license fees 307 1,403 Website and application development 600 701 W 13,793 W 10,846 (3) Changes in contract liabilities for the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 (In millions of Korean won) Balance at January 1 W 10,846 W 20,074 W 22,681 Increase related to micro-transaction and subscription revenue 29,124 66,232 12,017 Increase related to royalties and license fees 14,330 — 540 Increase related to website and application development contract 4,580 5,038 834 Decrease upon satisfaction of performance obligations - micro-transaction and subscription revenue (24,980 ) (69,507 ) (12,409 ) Decrease upon satisfaction of performance obligations -royalties and license fees (15,426 ) (5,407 ) (3,066 ) Decrease due to termination of contract — (413 ) (495 ) Decrease upon satisfaction of performance obligations - website and application development (4,681 ) (5,171 ) (28 ) Balance at December 31 W 13,793 W 10,846 W 20,074 The amount of revenue recognized from previous period’s contract liabilities satisfied during the year ended December 31, 2020 is Korean Won 10,606 million. (4) Transaction price allocated to unsatisfied performance obligations as of December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 (In millions of Korean won) Micro-transaction and subscription revenue Online game W 8,418 W 5,358 W 6,160 Mobile game 4,468 3,384 5,857 12,886 8,742 12,017 Royalties and license fees Online game 286 573 7,203 Mobile game 21 830 20 307 1,403 7,223 Website and application development 600 701 834 Total W 13,793 W 10,846 W 20,074 The Group’s management expects to recognize 99.3% (Korean Won 13,692 million) of the transaction price allocated to contracts that have not been performed as of December 31, 2020 as revenue within 12 months. The remaining 0.7% (Korea Won 101 million) is expected to be recognized as revenue thereafter. (5) Details of incremental costs of obtaining a contract recognized as assets as of and for the years ended December 31, 2020 and 2019 are as follows: December 31, 2020 December 31, 2019 (In millions of Korean won) Incremental costs of obtaining a contract W 1,277 W 998 Details of a mortization costs recognized as cost of revenues 2020 2019 2018 (In millions of Korean won) Amortization costs recognized as cost of revenues W 998 W 2,036 W 2,231 |
Classification of Expenses By N
Classification of Expenses By Nature | 12 Months Ended |
Dec. 31, 2020 | |
Expense By Nature [Abstract] | |
Classification of Expenses By Nature | 14. Classification of Expenses by Nature Details of classification of expenses by nature for the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 (In millions of Korean won) Advertising expenses W 30,084 W 14,948 W 17,263 Fees and commissions 230,412 249,210 195,173 Lease expenses 920 1,496 2,604 Outsourcing expenses 9,500 7,875 6,176 Salaries 32,340 26,935 23,137 Expenses related to defined contribution plans 2,030 1,807 1,546 Employee benefits 3,329 3,026 2,655 Depreciation 3,783 2,748 545 Amortization 1,137 905 868 Other expenses 2,944 3,214 2,915 Total W 316,479 W 312,164 W 252,882 |
Selling, General and Administra
Selling, General and Administrative Expenses | 12 Months Ended |
Dec. 31, 2020 | |
Selling General And Administrative Expense [Abstract] | |
Selling, General and Administrative Expenses | 15. Selling, General and Administrative Expenses Details of the selling, general and administrative expenses for the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 (In millions of Korean won) Advertising expenses W 30,084 W 14,948 W 17,263 Fees and commissions 13,928 7,262 5,727 Lease expenses 460 665 941 Salaries 11,761 8,643 7,080 Expenses related to defined contribution plans 585 455 387 Employee benefits 1,419 1,253 1,140 Depreciation 1,424 761 233 Amortization 597 745 581 Other expenses 2,142 2,141 1,468 Total W 62,400 W 36,873 W 34,820 |
Other Income and Expenses
Other Income and Expenses | 12 Months Ended |
Dec. 31, 2020 | |
Other Income And Expense [Abstract] | |
Other Income and Expenses | 16. Other Income and Expenses (1) Details of other income for the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 (In millions of Korean won) Gain on disposal of property and equipment W — W 3 W 16 Reversal of other bad debt allowances 2 35 — Miscellaneous gain 656 315 106 Total W 658 W 353 W 122 (2) Details of other expenses 2020 2019 2018 (In millions of Korean won) Loss on retirement and disposal of property and equipment W — W — W 5 Impairment loss on intangible assets 115 52 623 Impairment loss on other non-current assets (*) 1,456 434 — Donation 13 — — Miscellaneous loss 180 7 14 Total W 1,764 W 493 W 642 (*) The Group recognized an impairment loss of Won 1,456 million in 2020 and Won 434 million in 2019 as the recoverable amount was less than the book value of minimum guaranteed royalties for the game in service. |
Finance Income And Costs
Finance Income And Costs | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Finance Income And Costs [Abstract] | |
Finance Income and Costs | 17. Finance Income and Costs Details of finance income and costs for the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 (In millions of Korean won) Finance income Interest income W 1,088 W 1,626 W 819 Unrealized foreign currency gain 321 119 81 Gain on foreign currency transactions 2,067 2,442 1,173 Total W 3,476 W 4,187 W 2,073 Finance costs Unrealized foreign currency loss W 682 W 267 W 99 Loss on foreign currency transactions 2,965 1,050 891 Others 186 277 12 Total W 3,833 W 1,594 W 1,002 |
Income Tax Expense
Income Tax Expense | 12 Months Ended |
Dec. 31, 2020 | |
Major Components Of Tax Expense Income [Abstract] | |
Income Tax Expense | 18. Income Tax Expense (1) Details of income tax expense for the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 (In millions of Korean won) Current tax on profit for the year W 21,383 W 11,775 W 7,430 Deferred tax expense (benefit) 4,072 (249 ) (4,377 ) Income tax expense W 25,455 W 11,526 W 3,053 (2) The differences between the tax expense on the Group’s profit before tax and the amount that would arise using the statutory tax rate applicable to profits of the entities for the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 (In millions of Korean won) Profit before income tax W 88,011 W 51,256 W 34,439 Income tax using the statutory tax rate of each country 19,828 12,063 8,994 Adjustments Expenses not deductible for tax purpose 20 42 62 Foreign tax credits 3,223 4,854 5,196 Changes in estimates related to prior period 11 (4,347 ) — Utilization of previously unrecognized deferred tax asset (412 ) — (5,347 ) Change in deferred tax due to carry-forward deficits — (33 ) (6,265 ) Effect of change of foreign currency exchange rate (19 ) (12 ) (221 ) Tax credit (1,022 ) (543 ) — Tax of non-recycled corporation income 668 — — Changes in deferred tax liabilities related to investment in subsidiaries 2,577 — — Others 581 (498 ) 634 Total adjustments 5,627 (537 ) (5,941 ) Income tax expense W 25,455 W 11,526 W 3,053 Effective tax rate 29 % 22 % 9 % (3) Details of the changes in deferred income tax assets (liabilities) for the years ended December 31, 2020 and 2019 are as follows: 2020 Beginning balance Increase (decrease) Ending balance (In millions of Korean won) Deferred income tax on temporary differences Property and equipment W 7 W 5 W 12 Intangible assets 221 181 402 Other non-current assets 104 401 505 Accounts payables 1,527 (58 ) 1,469 Accrued expenses 39 138 177 Deferred revenue 674 (177 ) 497 Allowance for doubtful account 275 10 285 Other non-current liabilities 46 — 46 Investments in subsidiaries 389 (389 ) — Lease 1 7 8 Foreign taxes paid — 1 1 Investments in subsidiaries(*) — (2,577 ) (2,577 ) Others (25 ) 67 42 Sub Total 3,258 (2,391 ) 867 Deferred tax due to carry-forward deficits 33 (33 ) — Deferred tax due to tax credit carry-forward 4,371 (1,648 ) 2,723 Deferred tax assets W 7,662 W (4,072 ) W 3,590 (*) The Group recognized deferred tax liability of Won 2,577 million for taxable temporary differences associated with investments in subsidiaries. The deferred tax liability was measured by the amount of expected withholding taxes arising upon dividend distribution. 2019 Beginning balance Increase (decrease) Ending balance (In millions of Korean won) Deferred income tax on temporary differences Property and equipment W 25 W (18 ) W 7 Intangible assets 238 (17 ) 221 Other non-current assets 8 96 104 Accounts payables 531 996 1,527 Accrued expenses — 39 39 Deferred revenue 60 614 674 Allowance for doubtful account 264 11 275 Other non-current liabilities 46 — 46 Investments in subsidiaries — 389 389 Lease — 1 1 Foreign taxes paid (4 ) 4 — Others (21 ) (4 ) (25 ) Sub Total 1,147 2,111 3,258 Deferred tax due to carry-forward deficits 1,951 (1,918 ) 33 Deferred tax due to tax credit carry-forward 4,315 56 4,371 Deferred tax assets W 7,413 W 249 W 7,662 The future realizability of deferred tax assets is reassessed by taking into consideration various factors such as the Group's performance, the overall economic environment and industry outlook, expected future earnings and deductible period of tax credits carry-forward. As of December 31, 2020, the Group has recognized deferred tax assets related to temporary differences, tax loss carryforward and tax credit carryforwards, which can be utilized based on the likelihood of future taxable income. This amount may change if the estimate of future taxable income changes. (4) Details of unused tax loss carryforwards and unused tax credit carryforwards that are not recognized as deferred income tax assets as of December 31, 2020 are as follows: Year of expiration Unused loss carryforwards Unused tax credit carryforwards 2023 1,045 — 2024 2,662 — 2025 1,132 — After 2025 6,108 1,759 Total W 10,947 W 1,759 As of December 31, 2020 and 2019, the Group did not recognize deferred income tax asset for the temporary 14,350 and other temporary differences of Won 751 million and Won 895 million, respectively, as such temporary differences are not expected to be utilized in the foreseeable future. |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Dec. 31, 2020 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | 19. Earnings per Share Basic earnings per share is calculated by dividing the profit attributable to owners of the Parent by the weighted average number of common shares outstanding each year. (1) Basic earnings per share 2020 2019 2018 (In millions of Korean won, except per share data) Profit attributable to owners of the Parent W 62,703 W 39,876 W 31,443 Weighted average outstanding shares of common shares 6,948,900 6,948,900 6,948,900 Basic earnings per share W 9,023 W 5,738 W 4,525 (2) Diluted earnings per share As of and for the years ended December 31, 2020, 2019 and 2018, the Group does |
Statements of Cash Flows
Statements of Cash Flows | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Cash Flow Statement [Abstract] | |
Statements of Cash Flows | 20 . Statements of Cash Flows (1) Cash generated from operations for the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 (In millions of Korean won) Profit for the year W 62,556 W 39,730 W 31,386 Depreciation expense 3,783 2,748 545 Amortization expense 1,137 905 868 Bad debt expenses 713 281 151 Unrealized foreign currency loss 682 267 99 Interest expense 186 277 — Loss on retirement and disposal of property and equipment — — 5 Impairment loss on intangible assets 115 52 623 Impairment loss on other non-current assets 1,456 434 — Post-employment benefit expense (Reversal of allowance for retirement benefit) 62 (4 ) 50 Income tax expense 25,455 11,526 3,053 Unrealized foreign currency gain (321 ) (119 ) (81 ) Interest income (1,088 ) (1,626 ) (819 ) Gain on disposal of property and equipment — (3 ) (16 ) Reversal of allowance for doubtful accounts (50 ) (34 ) — Gain on disposal of intangible assets — (1 ) — Change in accounts receivables (29,116 ) 30,143 (18,573 ) Change in other receivables 60 232 406 Change in accrued income — — — Change in prepaid expenses (2,134 ) 1,981 544 Change in prepayment (2,755 ) (204 ) — Change in other current assets 622 (556 ) 192 Change in other non-current assets 2,255 (1,860 ) (1,137 ) Change in accounts payables 15,510 (37,145 ) 27,319 Change in deferred revenue 3,332 (9,631 ) (2,707 ) Change in withholdings 1,218 (397 ) 580 Change in accrued expenses 181 140 (7 ) Change in other current liabilities (1,256 ) 113 (13 ) Change in long-term deferred revenue — — 100 Change in other non-current liabilities (868 ) (463 ) — Change in advance receipt — 434 — Total W 81,735 W 37,220 W 42,571 (2) Significant non-cash transactions for the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 (In millions of Korean won) Reclassification of prepayment to intangible assets W 72 W 120 W — Increase (Decrease) of accounts payables relating to the acquisition of software 1,144 33 226 Acquisitions of right-of-use assets 3,784 2,637 — (3) Changes in liabilities arising from financing activities for the year ended December 31, 2020 and 2019 are as follows: 2020 2019 (In millions of Korean won) Beginning of the year W 4,994 W 4,401 Cash flows used in financing activities – Payment of lease liabilities (2,893 ) (2,034 ) Cash flows from operating activities – Interest paid (186 ) (277 ) Non-cash transactions Acquisitions – leases 3,784 2,637 Interest expense 186 277 Early termination of leases (14 ) (15 ) Translation difference 29 5 Ending of the year W 5,900 W 4,994 |
Lease
Lease | 12 Months Ended |
Dec. 31, 2020 | |
Presentation Of Leases For Lessee [Abstract] | |
Lease | 21. Lease The Group leases offices, equipment and others. The leases typically run for a period of 1 ~5 years, with an option to renew or terminate the lease after that date. There are no restrictions or covenants imposed to leases, but the lease assets shall not be provided as collateral for borrowings. (1) Details of right-of-use assets and lease liabilities recognized in the consolidated statements of financial position December 31, 2020 December 31, 2019 (In millions of Korean won) Right-of-use assets(*1) Offices W 3,904 W 3,642 Vehicles 102 266 Others 1,731 1,038 Total W 5,737 W 4,946 Lease liabilities(*2) Current 2,653 1,986 Non-current 3,247 3,008 Total W 5,900 W 4,994 (*1) Right-of-use assets are (*2) Lease liabilities are (2) Changes in right-of-use assets for the years ended December 31, 2020 and 2019 are as follows: 2020 Offices Vehicles Others Total (In millions of Korean won) Balance as of January 1, 2020 W 3,642 W 266 W 1,038 W 4,946 Depreciation (1,493 ) (186 ) (1,278 ) (2,957 ) Additions 1,780 36 1,968 3,784 Removal — (13 ) — (13 ) Translation differences (25 ) (1 ) 3 (23 ) Balance as of December 31, 2020 W 3,904 W 102 W 1,731 W 5,737 2019 Offices Vehicles Others Total (In millions of Korean won) Balance as of January 1, 2019 W 2,752 W 53 W 1,648 W 4,453 Depreciation (901 ) (92 ) (1,142 ) (2,135 ) Additions 1,791 320 526 2,637 Removal — (15 ) — (15 ) Translation differences — — 6 6 Balance as of December 31, 2019 W 3,642 W 266 W 1,038 W 4,946 (3) Details of amounts recognized in the consolidated statements of profit or loss for the years ended December 31, 2020 and 2019 are as follows: 2020 2019 (In millions of Korean won) Interest expense relating to lease liabilities (included in finance cost) W 186 W 277 Expense relating to short-term leases 123 322 Expense relating to leases of low-value assets that are not short-term leases 9 10 (4) Details of amounts recognized in the consolidated statements of the 2020 2019 (In millions of Korean won) Total cash outflows of leases W 3,210 W 2,644 |
Financial Risk Management
Financial Risk Management | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Financial Instruments [Abstract] | |
Financial Risk Management | 22. Financial Risk Management The Group’s operating activities expose itself to a variety of financial risks: market risk , credit risk and liquidity risk risk management program focuses on any adverse effects on its financial performance. (1) Capital Risk Management The Group’s objectives when managing capital are to safeguard the Group’s ability to continue as a going concern, so the Group can continue to provide returns and benefits for shareholders and to maintain an optimal capital structure to reduce the cost of capital. The Group monitors capital on the basis of the debt ratio. This ratio is calculated as total debt divided by total capital. The debt ratios as of December 31, 2020 and 2019 are as follows: 2020 2019 (In millions of Korean won) Total liabilities W 88,024 W 59,659 Total equity 177,348 115,766 Debt-to-equity ratio 50 % 52 % (2) Market risk (a) Foreign exchange risk The Group is exposed to foreign exchange risk arising from royalty revenues and commission payment primarily with respect to the US dollar and etc. The Group’s financial assets and liabilities are exposed to foreign currency risk as of December 31, 2020 and 2019 are as follows: December 31, 2020 Financial assets Financial liabilities Financial assets Financial liabilities (In each foreign currency) (In millions of Korean won) USD 29,204,905 15,715,800 W 31,775 W 17,099 JPY 388,760,925 198,432,867 4,099 2,092 EUR 344,842 8,399 461 11 IDR 12,955,000 15,289,944 1 1 THB 28,510 7,379 1 — TWD 105,408,193 3,264,754 4,076 126 VND 9,270,000 3,243,600 — — Total W 40,413 W 19,329 December 31, 2019 Financial assets Financial liabilities Financial assets Financial liabilities (In each foreign currency) (In millions of Korean won) USD 8,100,729 5,775,721 W 9,403 W 6,696 JPY 456,300,430 340,468,613 4,854 3,621 EUR 338,598 1,000 439 1 IDR 12,955,000 17,023,944 1 1 THB 28,510 7,379 1 — TWD 29,236,669 5,567,672 1,125 214 VND 9,270,000 3,243,600 — — GBP — 5,625 — 9 HKD 368,048 — 55 — Total W 15,878 W 10,542 The Group measures foreign exchange risk as a 10% fluctuation in the exchange rate of each foreign currency, which reflects the management's assessment of the risk of exchange rate fluctuation that can be reasonably occur. The impact of a 10% fluctuation in foreign currency exchange rates on the Group’s monetary assets and liabilities as of December 31, 2020 and 2019 are as follows: December 31, 2020 December 31, 2019 10% 10% Decrease 10% Increase 10% Decrease (In millions of Korean won) USD W 1,468 W (1,468 ) W 271 W (271 ) JPY 201 (201 ) 123 (123 ) Others 440 (440 ) 140 (140 ) Total W 2,109 W (2,109 ) W 534 W (534 ) The sensitivity analysis is based on monetary assets and liabilities denominated in foreign currencies other than the functional currency as of the end of the reporting period. (b) Interest rate risk There are no borrowings under variable interest rate conditions as of December 31, 2020 and 2019. (c) Price risk There are no assets and liabilities exposed to price risk as of the end of the reporting period. (3) Credit risk Credit risk arises from normal trading and investing activities and occurs when a customer or a counterparty fails to comply with the terms of the contract. In order to manage these credit risks, the Group regularly evaluates the creditworthiness of our customers based on their financial condition, past experience and other factors. The carrying amount of a financial asset represents the maximum exposure to credit risk. The maximum exposure to credit risk of the Group December 31, 2020 December 31, 2019 (In millions of Korean won) Cash and cash equivalents W 110,632 W 79,428 Short-term financial instruments 71,000 39,500 Accounts receivable 59,761 32,253 Other receivable 8 56 Other current financial assets 818 233 Other non-current financial assets 1,324 1,770 Total W 243,543 W 153,240 Cash and cash equivalents and short-term financial instruments are deposited in financial institutions with strong credit rating. Accounts receivables are mainly due from payment processing companies and platform service providers, which in the Group believes have low levels of credit risk. (4) Liquidity risk Liquidity risk management includes the maintenance of sufficient cash and marketable securities, the availability of funds from appropriately committed credit lines, and the ability to settle market positions. The following table summarizes the financial liabilities of the Group by maturity according to the remaining period from the end of the reporting period to the contractual maturity date. December 31, 2020 Carrying value Less than 3 months 3 months ~ 1 year 1~2 years 2~3 years 3~5 years Total (In millions of Korean won) Accounts payable W 54,090 W 43,438 W 9,250 W 1,402 W — W — W 54,090 Accrued expenses 62 62 — — — — 62 Other liabilities (*) 5,900 812 2,107 2,146 597 733 6,395 Total W 60,052 W 44,312 W 11,357 W 3,548 W 597 W 733 W 60,547 (*) Other liabilities as at December 31, 2020 consist of lease liabilities. December 31, 2019 Carrying value Less than 3 months 3 months ~ 1 year 1~2 years 2~3 years 3~5 years Total (In millions of Korean won) Accounts payable W 37,689 W 21,374 W 16,122 W 193 W — W — W 37,689 Accrued expenses 1,175 1,175 — — — — 1,175 Other liabilities (*) 4,994 598 1,653 1,780 1,029 428 5,488 Total W 43,858 W 23,147 W 17,775 W 1,973 W 1,029 W 428 W 44,352 (*) Other liabilities as at December 31, 2019 consist of lease liabilities. The cash flows above are not discounted and the amount due within 12 months is the same as the carrying amount since the effect of the discount is not material. |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Operating Segments [Abstract] | |
Segment information | 23. Segment Information (1) The Group’s operating segments The Group determines the operating segments by establishing strategic decisions. Chief operating decision maker (“CODM”) reviews operating profit by each segment in order to make decisions regarding the resources to be allocated to the segment and to evaluate the performance of the segment. The reportable segments of the Group are in line with the organizational structure and CODM’s review of operations, and include mobile, online and others. The accounting policies of the operating segments are the same as those described in the significant accounting policies. The Group assesses the performance of its operating segments based on its operating profit or loss, which does not differ from operating profit reported on the statement of comprehensive income except for inter-segment transactions. Total assets and liabilities for each segment are not reported to CODM. The segment information for the years ended December 2020 Revenue Depreciation Amortization Operating profit(*2) (In millions of Korean won) Online W 107,949 W 1,609 W 45,115 Mobile 336,326 1,823 42,493 Others 22,333 1,488 510 Sub total 466,608 4,920 88,118 Inter-segment eliminations(*1) (60,655 ) — 250 Total W 405,953 W 4,920 W 88,368 2019 Revenue Depreciation Amortization Operating profit(*2) (In millions of Korean won) Online W 48,182 W 1,401 W 7,754 Mobile 346,878 1,145 38,655 Others 19,352 1,107 562 Sub total 414,412 3,653 46,971 Inter-segment eliminations(*1) (53,445 ) — 1,692 Total W 360,967 W 3,653 W 48,663 2018 Revenue Depreciation Amortization Operating profit(*2) (In millions of Korean won) Online W 41,288 W 238 W 4,286 Mobile 257,364 473 24,795 Others 9,526 715 1,086 Sub total 308,178 1,426 30,167 Inter-segment eliminations(*1) (21,408 ) (12 ) 3,201 Total W 286,770 W 1,414 W 33,368 (* 1) The Group reflects inter-segment eliminations as adjustments. (* 2) Other profit or loss items that do not constitute operating profit (loss) are not separately disclosed because they are not reviewed by the chief operating decision maker by operating segment. (2) Revenue from external customers by country for the 2020, 2020 2019 2018 (In millions of Korean won) Korea W 109,895 W 45,273 W 80,814 Taiwan 100,049 52,118 98,210 Japan 22,500 28,469 9,767 The United States of America 20,659 55,062 10,572 Thailand 59,086 62,043 43,846 The Philippines 23,690 30,951 15,539 Indonesia 12,729 22,355 9,359 Other 57,345 64,696 18,663 Total W 405,953 W 360,967 W 286,770 (*) Revenue was attributed to the country based on the customer’s location. Non-Current assets by geographical regions as of December 31, 2020, December 31, 2020 December 31, 2019 December 31, 2018 (In millions of Korean won) Domestic W 7,612 W 5,732 W 3,054 Overseas 5,481 4,170 1,045 Total W 13,093 W 9,902 W 4,099 (*) The amounts are exclusive of financial assets and deferred tax assets. (3) No individual external customers accounted for more than 10% of consolidated revenue for the years ended December 31, 2020, 2019 and 2018. |
Transactions with Related Parti
Transactions with Related Parties | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |
Transactions with Related Parties | 24. Transactions with Related Parties (1) Related parties of the Group include entities and individuals capable of exercising control or significant influence over the Group. Related parties include GungHo Online Entertainment, Inc. (the controlling shareholder with 59.31% common shares), its subsidiaries, members of board of directors, executives with strategic responsibilities and their immediate families. (2) Account balances with related parties Balances of receivables and payables to related parties as of December 31, 2020 and 2019 are as follows : December 31, 2020 December 31, 2019 Related parties classification Entity Receivable Payable Receivable Payable Parent company Gung-Ho Online Entertainment, Inc. W 2,547 W 5 W 2,722 W 74 (3) Transactions with related parties The details of transaction with related parties for the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 Related parties classification Entity Sales Purchase Sales Purchase Sales Purchase (In millions of Korean won) Parent company Gung-Ho Online Entertainment, Inc. W 21,833 W 211 W 27,484 W 60 W 10,516 W 3 (4) Other transactions with related parties No financing transactions were made with related parties for the years ended December 31, 2020, 2019 and 2018. (5) Key management personnel compensation The compensation for the key management personnel (registered directors), for the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 (In millions of Korean won) Salary W 1,177 W 866 W 690 |
Subsequent Event
Subsequent Event | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Nonadjusting Events After Reporting Period [Abstract] | |
Subsequent Event | 25. Subsequent Event Gravity Game Hub Pte. Ltd., a subsidiary, was established in Singapore on January 4, 2021. |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Basis of Preparation | Basis of Preparation These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by International Accounting Standard Board (“IASB”). These consolidated financial statements were approved by the board of directors meeting held on April 28, 2021. |
Basis of Measurement | Basis of Measurement The consolidated financial statements have been prepared on the historical cost basis. |
Use of Judgements and Estimates | Use of Judgements and Estimates The preparation of the consolidated financial statements in conformity with IFRS requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. Critical Judgements Information about critical judgments in applying accounting policies that have the most significant effect on the amounts recognized in the consolidated financial statements is included in the following notes. i) Deferred Revenue As discussed in Note 4, the Group sells virtual currency and items that can be used in online and mobile games to game users. For each game in each country, the Group estimates and applies the game user's life cycle in order to recognize revenue generated by micro-transactions. The game user's life cycle is estimated based on the average period from the game user's first payment date to the last access date for active paying game users. The Group considers a game user as an active user if the period between the time of the user’s most recent access of the game and the end of reporting period equals or is shorter than the estimated game users’ life cycle. For remaining virtual currency and items that active users own at period-end, the related revenue is deferred considering whether the virtual currency is refundable and items’ attributes. The group estimates the user’s life cycle by analyzing game users’ activity patterns such as payment and access and it periodically reviews if there is any change of these estimates. ii) Deferred Tax Assets When the Group assesses the realizability of deferred tax assets, the Group considers its performance, general economic environment, projected future taxable income, and periods available to utilize tax loss carryforwards and tax credit carryforwards. The Group periodically monitors the estimates used in assessing the realizability of the deferred tax assets. The amount of deferred tax assets may be changed if estimated future taxable income during the carryforward periods was changes. |
Changes in Accounting Policies and Disclosures | New and Amended Standards Adopted by the Group The Group has applied the following standards and amendments for the first time for the annual reporting period commencing January 1, 2020. Amendments to IAS 1 Presentation of Financial Statements and IAS 8 Accounting policies, changes in accounting estimates and errors – Definition of Material The amendments clarify the definition of material. Information is material if omitting, misstating or obscuring it could reasonably be expected to influence the decisions that the primary users of general-purpose financial statements make on the basis of those financial statements. The amendments do not have a significant impact on the consolidated financial statements. Amendments to the Conceptual Framework for Financial Reporting The concept of measurement, presentation and disclosure, and derecognition was introduced for financial reporting, and the definition and recognition criteria for assets and liabilities were amended. In addition, the uncertainty in the measurement of prudence, stewardship, measurement uncertainty and substance over form were clarified. |
Consolidation | Consolidation The Group has prepared the consolidated financial statements in accordance with IFRS 10 Consolidated Financial Statements Subsidiaries are all entities over which Group has control. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are consolidated from the date on which control is obtained by the Group. They are deconsolidated from the date on which control ceases. The acquisition method of accounting is used to account for business combinations by the Group. The consideration transferred is measured at the fair values of the assets transferred, and identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. The Group recognizes any non-controlling interest in the acquired entity on an acquisition-by-acquisition basis either at fair value or at the non-controlling interest’s proportionate share of the acquired entity’s net identifiable assets. Acquisition-related costs are expensed as incurred. The excess of consideration transferred, amount of any non-controlling interest in the acquired entity and acquisition-date fair value of any previous equity interest in the acquired entity over the fair value of the net identifiable assets acquired is recoded as goodwill. If those amounts are less than the fair value of the net identifiable assets of the business acquired, the difference is recognized directly in the profit or loss as a bargain purchase. Intercompany transactions, balances and unrealized gains on transactions between consolidated companies are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group. |
Segment Reporting | Segment Reporting Information of each operating segment is reported in a manner consistent with the internal business segment reporting provided to the chief operating decision-maker (Note 23). The CEO, as the chief operating decision-maker is responsible for allocating resources and assessing performance of the operating segments. |
Cash and Cash Equivalents | Cash and Cash Equivalents include on hand, held at call with financial institutions, other investments with original maturities of or less that are readily convertible to known amounts of cash |
Financial Assets | Financial Assets Classification At initial recognition, the Group classifies its financial assets in the following measurement categories: • measured at fair value through profit or loss • measured at fair value through other comprehensive income, and • measured at amortized cost. The classification depends on the Group’s business model for managing the financial assets and the contractual terms of the cash flows. For financial assets measured at fair value, gains and losses will either be recorded in profit or loss or other comprehensive income. For investments in debt instruments, this will depend on the business model in which the investment is held. The Group reclassifies debt investments when, and only when its business model for managing those assets changes. For investments in equity instruments that are not held for trading, this will depend on whether the Group has made an irrevocable election at the time of initial recognition to account for the equity investment at fair value through other comprehensive income. Changes in fair value of equity instruments not elected as equity investment at fair value through other comprehensive income will be recognized in profit or loss. Impairment The Group recognizes loss allowances for expected credit losses (“ECLs”) on: • financial assets measured at amortized cost; • debt investments measured at FVOCI; and • contract assets under IFRS 15. The Group measures loss allowances at an amount equal to lifetime ECLs, except for the following, which are measured at 12-month ECLs: • debt securities that are determined to have low credit risk at the reporting date; and • other debt securities and bank balances for which credit risk (i.e. the risk of default occurring over the expected life of the financial instrument) has not increased significantly since initial recognition . Loss allowances for accounts and other receivables (including lease receivables) and contract assets are always measured at an amount equal to lifetime ECLs. When determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating ECLs, the Group considers reasonable and supportable information that is relevant and available without undue cost or effort. This includes both quantitative and qualitative information and analysis, based on the Group’s historical experience and informed credit assessment that includes forward-looking information. The Group considers a financial asset to be in default when: • the debtor is unlikely to pay its obligations to the Group in full, without recourse by the Group to actions such as realizing security (if any is held); or • the financial asset is more than 90 days past due. Lifetime ECLs are the ECLs that result from all possible default events over the expected life of a financial instrument. 12-month ECLs are the portion of ECLs that result from default events that are possible within the 12 months after the reporting date (or a shorter period if the expected life of the instrument is less than 12 months). The maximum period considered when estimating ECLs is the maximum contractual period over which the Group is exposed to credit risk. ECLs are a probability-weighted estimate of credit losses. Credit losses are measured as the present value of all cash shortfalls (i.e. the difference between the cash flows due to the entity in accordance with the contract and the cash flows that the Group expects to receive). ECLs are discounted at the effective interest rate of the financial asset. At each reporting date, the Group assesses whether financial assets carried at amortized cost and debt securities at FVOCI are credit-impaired. A financial asset is ‘credit-impaired’ when one or more events that have a detrimental impact on the estimated future cash flows of the financial asset have occurred. Loss allowances for financial assets measured at amortized cost are deducted from the gross carrying amount of the assets. For debt securities at FVOCI, the loss allowance is charged to profit or loss and is recognized in other comprehensive income. Recognition Regular way purchases and sales of financial assets are recognized or derecognized on trade-date, the date on which the Group commits to purchase or sell the asset. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the Group has transferred substantially all the risks and rewards of ownership. If a transfer does not result in derecognition because the Group has retained substantially all the risks and rewards of ownership of the transferred asset, the Group continues to recognize the transferred asset in its entirety and recognizes a financial liability for the consideration received. Offsetting of Financial Instruments Financial assets and liabilities are offset and the net amount reported in the consolidated statement of financial position where there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis or realize the assets and settle the liability simultaneously. The legally enforceable right must not be contingent on future events and must be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of the Group or the counterparty. |
Property and Equipment | Property and Equipment Property and equipment are initially measured cost. The of property and equipment expenditures arising directly from the construction or acquisition of the asset, any costs bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management, and the initial estimate of the costs item on which it is located. Property and equipment, subsequently, are carried at cost less accumulated depreciation and accumulated impairment losses. Subsequent costs are recognized in the carrying amount of property and equipment at cost or, if appropriate, as a separate item if it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be reliably measured. Depreciation of all property and equipment, except for land, is calculated using the straight-line method to allocate their cost or revalued amounts, net of their residual values, over their estimated useful lives as follows: Computer and other equipment 4 years Furniture and fixtures 4 years Vehicles 4 years Leasehold improvements 4 years Right-of-use assets (*) (*) The Group depreciates the right-of-use asset from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term using the straight-line method. Depreciation method, residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period. The change is accounted for as a change in an accounting estimate. |
Intangible Assets | Intangible Assets Intangible assets, except for goodwill, are initially recognized at its historical cost, and carried at cost less accumulated amortization and accumulated impairment losses. The Group amortizes intangible assets with a definite useful life using the straight-line method over the following periods: Software 1 ~ 3 years Industrial property rights 10 years Other intangible assets 3 years Expenditure on research activities is recognized expenses as incurred. Development expenditure is capitalized only if the expenditure can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable and the Group intends to and has sufficient resources to complete development and to use or sell the asset. Other development expenditure is recognized in expenses as incurred. The Group entered into a game licensing agreement with a number of third parties to gain exclusive rights to the games developed by those companies. The license fee payments are recognized as other intangible assets and amortized over the term of the contract using the straight-line method. |
Impairment of Non-financial Assets | Impairment of Non-financial Assets At each reporting date, the Group reviews the carrying amounts of its non-financial assets (other than contract assets, incremental costs of obtaining a contract, costs to fulfil a contract, employee benefit related assets and deferred tax assets) to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated. Goodwill and intangible assets that have indefinite useful lives or that are not yet available for use, irrespective of whether there is any indication of impairment, are tested for impairment annually by comparing their recoverable amounts to their carrying amounts The recoverable amount of an asset or cash generating unit (“CGU”) is the greater of its value in use and its fair value less costs to sell. Value in use is based on the estimated future cash flows, discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or CGU. An impairment loss is recognized in profit or loss if the carrying amount of an asset or CGU exceeds its recoverable amount. |
Leases | Leases At inception of a contract, the Group assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the Group uses the definition of a lease in IFRS 16. Effective January 1, 2019, the Group has changed its method of accounting for leases as a result of adoption of IFRS 16, Leases, using the modified retrospective approach. i) As a Lessee At commencement or on modification of a contract that contains a lease component, the Group allocates the consideration in the contract to each lease component on the basis of its relative stand-alone prices. However, for the leases of datacenter the Group has elected not to separate non-lease components and account for the lease and non-lease components as a single lease component. The Group recognizes a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is located, less any lease incentives received. The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the end of the lease term, unless the lease transfers ownership of the underlying asset to the Group by the end of the lease term or the cost of the right-of-use asset reflects that the Group will exercise a purchase option. In that case the right-of-use asset will be depreciated over the useful life of the underlying asset, which is determined on the same basis as those of property and equipment. In addition, the right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Group’s incremental borrowing rate. Generally, the Group uses its incremental borrowing rate as the discount rates. The Group determines its incremental borrowing rate by obtaining interest rates from various external financing sources and makes certain adjustments to reflect the terms of the lease and type of the asset leased. Lease payments included in the measurement of the lease liability comprise the following: • fixed payments, including in-substance fixed payments; • variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the commencement date; • amounts expected to be payable under a residual value guarantee; and • the exercise price under a purchase option that the Group is reasonably certain to exercise, lease payments in an optional renewal period if the Group is reasonably certain to exercise an extension option, and penalties for early termination of a lease unless the Group is reasonably certain not to terminate early. The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, if there is a change in the Group’s estimate of the amount expected to be payable under a residual value guarantee, if the Group changes its assessment of whether it will exercise a purchase, extension or termination option or if there is a revised in-substance fixed lease payment. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset, or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero. The Group other current liabilities’ ‘other non-current liabilities’ consolidated The Group has elected not to recognize right-of-use assets and lease liabilities for leases of low-value assets and short-term leases. The Group recognizes the lease payments associated with these leases as an expense on a straight-line basis over the lease term. ii) As a Lessor At inception or on modification of a contract that contains a lease component, the Group allocates the consideration in the contract to each lease component on the basis of their relative stand-alone prices. When the Group acts as a lessor, it determines at lease inception whether each lease is a finance lease or an operating lease. To classify each lease, the Group makes an overall assessment of whether the lease transfers substantially all of the risks and rewards incidental to ownership of the underlying asset. If this is the case, then the lease is a finance lease; if not, then it is an operating lease. As part of this assessment, the Group considers certain indicators such as whether the lease is for the major part of the economic life of the asset. When the Group is an intermediate lessor, it accounts for its interests in the head lease and the sub-lease separately. It assesses the lease classification of a sub-lease with reference to the right-of-use asset arising from the head lease, not with reference to the underlying asset. If a head lease is a short-term lease to which the Group applies the exemption described above, then it classifies the sub-lease as an operating lease. If an arrangement contains lease and non-lease components, then the Group applies IFRS 15 to allocate the consideration in the contract. The Group applies the derecognition and impairment requirements in IFRS 9 to the net investment in the lease. The Group further regularly reviews estimated unguaranteed residual values used in calculating the gross investment in the lease. The Group recognizes lease payments received under operating leases as income on a straight-line basis over the lease term as part of ‘other revenue’. |
Financial Liabilities | Financial Liabilities Classification and Measurement The Group’s financial liabilities at fair value through profit or loss are financial instruments held for trading. A financial liability is held for trading if it is incurred principally for the purpose of repurchasing in the near term. A derivative that is not a designated as hedging instruments and an embedded derivative that is separated are also classified as held for trading. The Group classifies non-derivative financial liabilities, except for financial liabilities at fair value through profit or loss, financial guarantee contracts and financial liabilities that arise when a transfer of financial assets does not qualify for derecognition, as financial liabilities carried at amortized cost and present as ‘account payables,’ ‘other current liabilities,’ and ‘other non-current liabilities’ in the consolidated statement of financial position. Derecognition Financial liabilities are removed from the consolidated statement of financial position when they are extinguished; for example, when the obligation specified in the contract is discharged or cancelled or expired or when the terms of an existing financial liability are substantially modified. The difference between the carrying amount of a financial liability extinguished or transferred to another party and the consideration paid (including any non-cash assets transferred or liabilities assumed) is recognized in profit or loss. |
Provisions and Contingencies | Provisions and Contingencies Provisions for legal claims, service warranties and make good obligations Group obligation an outflow of resources the amount reliably estimated Provisions are measured at the present value of management's best estimate of the required to settle the present obligation at the end of the reporting period. The discount rate used reflects current market assessments of the time value of money and the risks specific to the liability. In addition, when there is a possible obligation that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity or a present obligation that arises from past events but is not recognized because it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation or the amount of the obligation cannot be measured with sufficient reliability, a disclosure regarding the contingent liabilities is made in the notes to the financial statements. |
Foreign Currency Translation | Foreign Currency Translation Functional and Presentation Currency Items included in the consolidated of each Foreign Operations If the presentation currency of the Group is different from a foreign operation’s functional currency, the financial statements of the foreign operation are translated into the presentation currency using the following methods: The assets and liabilities of foreign operations, whose functional currency is not the currency of a hyperinflationary economy, are translated to presentation currency at exchange rates at the end of reporting period. The income and expenses of foreign operations are translated to functional currency at exchange rates at the dates of the transactions. Foreign currency differences are recognized in other comprehensive income. Any goodwill arising on the acquisition of a foreign operation and any fair value adjustments to the carrying amounts of assets and liabilities arising on the acquisition of that foreign operation is treated as assets and liabilities of the foreign operation. Thus, they are expressed in the functional currency of the foreign operation and translated at the exchange rates at the end of reporting date. When a foreign operation is disposed of, the relevant amount in the translation is transferred to profit or loss as part of the profit or loss on disposal. On the partial disposal of a subsidiary that includes a foreign operation, the relevant proportion of such cumulative amount is reattributed to non-controlling interest. In any other partial disposal of a foreign operation, the relevant proportion is reclassified to profit or loss. Transactions and Balances Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies at the exchange rate at the reporting date are generally recognized in profit or loss. They are recognized in other comprehensive income if they relate to qualifying cash flow hedges and qualifying effective portion of net investment hedges, or are attributable to monetary part of the net investment in a foreign operation. Exchange differences arising on non-monetary financial assets and liabilities such as equity instruments at fair value through profit or loss and equity instruments at fair value through other comprehensive income are recognized in profit or loss and other comprehensive income, respectively, as part of the fair value gain or loss. |
Statement of Cash Flows | Statement of Cash Flow s The Group has elected to present cash flows from operating activities using the indirect method. Cash flows denominated in a foreign currency are reported using average exchange rate during the fiscal year. |
Revenue from Contracts with Customers | Revenue from Contracts with Customers The Group engages in game licensing, IP licensing and game publishing businesses. Revenue is measured at the fair value of the consideration received or receivable for the sale of goods or rendering of services arising from the normal course of the business. Amounts recognized as revenue are net of value added taxes, returns, rebates and discounts. Revenue from Micro-transaction and Subscription The Group recognizes micro-transaction revenue of online and mobile games when the Group satisfies its performance obligations. When the performance obligations are satisfied depends on the natures of virtual currency and in-game virtual items. Items are categorized into consumable, periodic, and permanent in-game virtual items. Consumable in-game virtual items are items that are consumed by the specific action of a game user, and periodic in-game virtual items are items that can be used by game users repeatedly during a specified effective period. Permanent in-game virtual items are items that can be used by game users repeatedly without an effective period. The accounting policy on revenue recognition is described below in relation to micro-transaction revenue from the sales of virtual currency and items. i) Online Games At the end of the reporting period, the Group defers the total amount of remaining virtual currency as the Group has the obligation to refund for remaining virtual currency. For consumable in-game virtual items, the related revenue is recognized when the in-game virtual item is consumed. The Group defers the revenue for remaining amounts of virtual items owned by active users within the estimated user life cycle at the end of the reporting period. For periodic in-game virtual items, the related revenue is recognized ratably over the effective period. The Group defers the revenue for remaining effective period. For permanent in-game virtual items, revenue is recognized ratably over the estimated user life cycle. The Group defers the revenue for remaining period of estimated user life cycle at the end of the reporting period. The Group recognizes online subscription revenue as game users make use of in-game premium features. Subscription revenue comes from subscription fee for internet cafés. Prepaid subscription fees from internet cafés are deferred and recognized as revenue monthly based on actual hours used. ii) Mobile Games Mobile game users purchase virtual currency that can be used to purchase in-game items. The Group has no refund obligation after the game users purchase virtual currency. At the end of the reporting period, the Group defers the revenue for the remaining virtual currency possessed by active paying users within the estimated user life cycle. For consumable in-game virtual items, revenue is recognized when the in-game virtual item is consumed. The Group defers the revenue for remaining amount of virtual items possessed by active users within the estimated user life cycle at the end of the reporting period. For periodic in-game virtual items, revenue is recognized ratably over the effective period. The Group defers the revenue for remaining effective period. For permanent in-game virtual items, revenue is recognized ratably over the estimated user life cycle. The Group defers the revenue for remaining period of estimated user life cycle at the end of the reporting period. Online and Mobile games - Royalties and License Fees In connection with the Group’s online and mobile games, the Group enters into license agreement in connection with the right to access the intellectual property, such as game character images and stories. The Group believes that the agreement is a promise to provide a right to the customer to access the related IP because the Group will undertake activities that significantly affect the intellectual property to which the customer has rights, the rights granted by the license directly expose the customer to any positive or negative effects of the Group’s activities, and those activities do not result in the transfer of a good or a service to the customer as those activities occur. Therefore, the Group’s performance obligations in connection with these agreements are satisfied over time. Since the nature of the license promise is to provide customers with access to the intellectual property of the Group during the license period, the Group's performance obligation corresponds to the performance obligation satisfied over time, and revenue is recognized over the license period. The Group recognizes revenue for the license fee through the straight-line method during the contract period, and for the running royalty revenue, the revenue is recognized on an accrual basis at the time the revenue distribution is established in accordance with the terms of the contract. When the running royalty revenue based on the contractual royalty rate and the actual revenue of the licensee exceeds the ratably recognized minimum guarantee, the excess amount is then recognized as revenue and accounts receivable. Other Revenue Other revenue consists of revenue from sales of console games, game character merchandise, animation and other services, including website development and operation services for third parties. Revenues from are recognized by measuring progress is measured by reference to the costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. |
Incremental Costs of Obtaining Contract | Incremental Costs of Obtaining Contract The Group pays platform processing fees to operate mobile games on third party platforms. These fees are charged based on the game users’ purchases in cash, and considered as incremental cost of obtaining contracts with customer and therefore capitalized. The Group presents these costs as prepaid expense and amortizes them to costs of revenue at the same time when the related revenue of the services provided to the game users are recognized. |
Earnings per Share | Earnings per Share Basic earnings per share is calculated by dividing profit attributable to owners of the Parent by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net earnings by the weighted average number of common shares outstanding, increased by common stock equivalents. However, for the years ended December 31, 2020 and 2019, there have been no common stock equivalents outstanding. |
Current and Deferred Tax | Current and Deferred Tax The tax expense for the period consists of current and deferred tax. Current and deferred tax is recognized in profit or loss, except to the extent that it relates to items recognized in other comprehensive income or directly in equity. The tax expense is measured at the amount expected to be paid to the taxation authorities, using the tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred income tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. However, deferred income tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss. Deferred tax assets are recognized only if it is probable that future taxable income will be available to utilize those temporary differences and tax credit. The Group recognizes a deferred tax liability all taxable temporary differences associated with investments in subsidiaries, associates, and interests in joint arrangements, except to the extent that the Group is able to control the timing of the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future. In addition, The Group recognizes a deferred tax asset for all deductible temporary differences arising from such investments to the extent that it is probable the temporary difference will reverse in the foreseeable future and taxable profit will be available against which the temporary difference can be utilized. Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and liabilities and when the deferred tax balances relate to the same taxation authority. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends to settle on a net basis. |
Employee Benefits | Employee Benefits Short-term Employee Benefits Short-term employee benefits are employee benefits that are due to be settled within 12 months after the end of the period in which the employees render services. When an employee has rendered a to the Group during an accounting period, the Group recognizes the undiscounted of short-term employee benefits in exchange for that Defined Contribution Pension Plan The Group |
Standards Issued but not yet Effective | Standards Issued but not yet E A number of new standards are effective for annual periods beginning after 1 January 2020 application financial statements. The following amended standards and interpretations are not expected to have a significant impact on the Group’s consolidated financial statements. • COVID-19-Related Rent Concessions (Amendment to IFRS 16) • Reference to Conceptual Framework (Amendments to IFRS 3) • Classification of Liabilities as Current or Non-current (Amendments to IAS 1) |
General Information (Tables)
General Information (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
General Information [Abstract] | |
Schedule of Major Shareholders and their Respective Percentage of Ownership | The Parent Company’s major shareholders and their respective percentage of ownership as of December 31, 2020 are as follows: Number of shares Ownership (%) GungHo Online Entertainment, Inc. 4,121,737 59.31 Others 2,827,163 40.69 6,948,900 100.00 |
Schedule of Consolidated Subsidiaries | Details of the consolidated subsidiaries as of December 31, 2020 and 2019 are as follows: Percentage of ownership (%) Subsidiary Location 2020 2019 Fiscal year end Main business Gravity Interactive, Inc. U.S.A. 100.00 100.00 December Online and mobile game services Gravity NeoCyon, Inc. (*1) (Formerly, NeoCyon, Inc.) Korea 99.53 99.24 December Mobile game development and service Gravity Communications Co., Ltd. Taiwan 100.00 100.00 December Online and mobile game services Gravity Entertainment Corporation (*2) Japan — 100.00 December Animation production, distribution, and game services PT Gravity Game Link Indonesia 70.00 70.00 December Online and mobile game services Gravity Game Tech Co., Ltd. Thailand 100.00 100.00 December Online and mobile game services Gravity Game Arise Co., Ltd. Japan 100.00 100.00 December Online and mobile game services (*1) During the year ended December 31, 2020, the Parent Company participated in paid-in capital increase of Gravity NeoCyon, Inc., which resulted in the increase of ownership interest of the Parent Company. (*2) Gravity Entertainment Corporation was liquidated during 2020. |
Schedule of Consolidated Financial Information Subsidiaries | Details of the condensed financial information of subsidiaries as of December 31, 2020 and 2019 are as follows: 2020 Subsidiaries Total assets(*1) Total liabilities(*1) Revenue(*1) Profit(loss) For the period(*1) (In millions of Korean won) Gravity Interactive, Inc. W 31,849 W 23,405 W 123,055 W 1,138 Gravity Entertainment Corporation (*2) — — — 8 Gravity NeoCyon, Inc. (Formerly, NeoCyon, Inc.) 11,069 7,422 26,368 (1,754 ) Gravity Communications Co., Ltd. 33,717 10,070 41,677 12,281 PT Gravity Game Link 2,185 664 4,881 (315 ) Gravity Game Tech Co., Ltd. 21,093 6,315 39,147 13,989 Gravity Game Arise Co., Ltd. 2,637 2,066 2,483 82 (* 1 ) Amount before offsetting the related party transactions. (*2) Gravity Entertainment Corporation was liquidated during 2020. 2019 Subsidiaries Total assets(*) Total liabilities(*) Revenue(*) Profit(loss) For the period(*) (In millions of Korean won) Gravity Interactive, Inc. W 39,296 W 29,112 W 230,029 W 12,804 Gravity Entertainment Corporation 44 52 263 (443 ) Gravity NeoCyon, Inc. (Formerly, NeoCyon, Inc.) 9,145 6,728 25,347 (982 ) Gravity Communications Co., Ltd. 19,964 8,227 21,811 5,637 PT Gravity Game Link 960 202 745 (437 ) Gravity Game Tech Co., Ltd. 4,008 2,624 2,295 (1,973 ) Gravity Game Arise Co., Ltd. 1,841 1,343 771 (35 ) (*) Amount before offsetting the related party transactions. |
Significant Accounting Polici_3
Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Property and Equipment Estimated Useful Lives | Depreciation of all property and equipment, except for land, is calculated using the straight-line method to allocate their cost or revalued amounts, net of their residual values, over their estimated useful lives as follows: Computer and other equipment 4 years Furniture and fixtures 4 years Vehicles 4 years Leasehold improvements 4 years Right-of-use assets (*) |
Summary of Useful Lives of Intangible Assets | The Group amortizes intangible assets with a definite useful life using the straight-line method over the following periods: Software 1 ~ 3 years Industrial property rights 10 years Other intangible assets 3 years |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Cash And Cash Equivalents [Abstract] | |
Disclosure of Details of Cash and Cash Equivalents Explanatory | (1) Cash and cash equivalents as of December 31, 2020 and 2019 December 31, 2020 December 31, 2019 (In millions of Korean won) Deposits in banks 95,573 52,941 Money market instruments 15,059 26,487 Total W 110,632 W 79,428 (2) The Group does not have any restricted cash and cash equivalents as of December 31, 2020 and 2019. |
Financial Instruments by Cate_2
Financial Instruments by Category (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Financial Instruments [Abstract] | |
Schedule of Carrying Amounts of Financial Instruments by Category | December 31, 2020 December 31, 2019 Financial assets at amortized cost Financial assets at amortized cost Financial assets (In millions of Korean won) Cash and cash equivalents W 110,632 W 79,428 Short-term financial instruments 71,000 39,500 Accounts receivables, net 59,761 32,253 Other receivables, net 8 56 Other current financial assets 818 233 Other non-current financial assets 1,324 1,770 Total W 243,543 W 153,240 December 31, 2020 December 31, 2019 Financial liabilities at amortized cost Financial liabilities at amortized cost Financial liabilities (In millions of Korean won) Accounts payables W 54,090 W 37,689 Accrued expenses (*) 62 19 Other current liabilities 2,653 1,986 Other non-current liabilities 3,247 3,008 Total W 60,052 W 42,702 (*) Accrued expenses not applicable to financial liabilities are excluded. |
Schedule of Net Income and Expenses From Financial Instruments | (2) Net income and expenses from financial instruments for the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 Financial assets at amortized cost (In millions of Korean won) Interest income W 1,088 W 1,626 W 819 Differences in foreign currency (1,796 ) 1,267 159 Financial liabilities at amortized cost Interest expense (186 ) (277 ) — Differences in foreign currency 537 (22 ) 105 |
Accounts and Other Receivables
Accounts and Other Receivables (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Trade And Other Receivables [Abstract] | |
Summary of Accounts and Other Receivables | (1) Accounts and other receivables as of December 31, 2020 and 2019 are as follows: December 31, 2020 December 31, 2019 (In millions of Korean won) Accounts receivables Non-related party W 57,793 W 29,697 Related party 2,547 2,721 Less : Loss allowance (579 ) (165 ) Accounts receivables, net W 59,761 W 32,253 December 31, 2020 December 31, 2019 (In millions of Korean won) Other receivables Non-related party W 13 W 60 Related party — — Less: Loss allowance (5 ) (4 ) Other receivables, net W 8 W 56 |
Summary of Changes in Loss Allowance of Accounts and Other Receivables | (2) Changes in the loss allowance of accounts and other receivables during the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 (In millions of Korean won) Accounts receivables Beginning balance W 165 W 22 W 123 Bad debt expenses 712 281 55 Reversal of allowance for doubtful accounts (50 ) — — Write-off (248 ) (138 ) (156 ) Ending balance W 579 W 165 W 22 2020 2019 2018 (In millions of Korean won) Other receivables Beginning balance W 4 W 84 W 46 Bad debt expenses 1 — 40 Reversal of allowance for doubtful accounts — (34 ) — Write-off — (46 ) (2 ) Ending balance W 5 W 4 W 84 |
Summary of ECLs and Credit Risk Exposures for Accounts and Other Receivables | (3) Expected credit losses (ECLs) and credit risk exposures for accounts and other receivables as of December 31, 2020 and 2019 are as follows: ① Accounts receivables As of December 31, 2020 Expected loss rate Carrying amount Loss allowance (In millions of Korean won) Not due or overdue less than 90 days 0.1 % W 57,661 W 54 More than 90 days ~ Less than 180 days 5.0 % 2,138 107 More than 180 days ~ Less than 270 days 55.3 % 276 153 More than 270 days ~ Less than 1 year 99.9 % 79 79 More than 1 year 100.0 % 186 186 Total W 60,340 W 579 As of December 31, 2019 Expected loss rate Carrying amount Loss allowance (In millions of Korean won) Not due or overdue less than 90 days 0.3 % W 31,146 W 97 More than 90 days ~ Less than 180 days 3.6 % 1,213 44 More than 180 days ~ Less than 270 days 21.1 % 30 6 More than 270 days ~ Less than 1 year 51.9 % 24 12 More than 1 year 100.0 % 6 6 Total W 32,419 W 165 ② Other receivables As of December 31, 2020 Expected loss rate Carrying amount Loss allowance (In millions of Korean won) Not due or overdue less than 90 days — % W 8 W — More than 90 days ~ Less than 180 days — % — — More than 180 days ~ Less than 270 days — % — — More than 270 days ~ Less than 1 year 100 % 5 5 Total W 13 W 5 As of December 31, 2019 Expected loss rate Carrying amount Loss allowance (In millions of Korean won) Not due or overdue less than 90 days 4.3 % W 57 W 2 More than 90 days ~ Less than 180 days 32.8 % 2 1 More than 180 days ~ Less than 270 days 99.6 % 1 1 More than 270 days ~ Less than 1 year 100.0 % 1 — Total W 61 W 4 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Property Plant And Equipment [Abstract] | |
Summary of Property Plant and Equipment | (1) Details of property and equipment as of December 31, 2020 and 2019 are as follows: December 31, 2020 Acquisition price Accumulated depreciation Book amount (In millions of Korean won) Computer and other equipment W 6,074 W (4,694 ) W 1,380 Furniture and fixture 2,038 (1,728 ) 310 Construction in progress 128 — 128 Vehicle 9 (1 ) 8 Leasehold improvements 1,160 (1,028 ) 132 Right-of-use assets 11,500 (5,763 ) 5,737 Total W 20,909 W (13,214 ) W 7,695 December 31, 2019 Acquisition price Accumulated depreciation Book amount (In millions of Korean won) Computer and other equipment W 5,671 W (4,614 ) W 1,057 Furniture and fixture 1,984 (1,541 ) 443 Leasehold improvements 1,291 (1,074 ) 217 Right-of-use assets 8,627 (3,681 ) 4,946 Total W 17,573 W (10,910 ) W 6,663 |
Summary of Changes in Property and Equipment | (2) Changes in property and equipment for the years ended December 31, 2020, 2019 2020 Computer and other equipment Furniture and fixture Construction in progress Vehicle Leasehold improvements Right-of- use assets Total (In millions of Korean won) Beginning balance W 1,057 W 443 W — W — W 217 W 4,946 W 6,663 Acquisitions/Capital expenditure 850 81 128 9 3 3,784 4,855 Depreciation (529 ) (213 ) — (1 ) (83 ) (2,957 ) (3,783 ) Disposals (1 ) (1 ) — — (2 ) (13 ) (17 ) Foreign exchange differences 3 — — — (3 ) (23 ) (23 ) Ending balance W 1,380 W 310 W 128 W 8 W 132 W 5,737 W 7,695 2019 Computer and other equipment Furniture and fixture Leasehold improvements Right-of-use assets Total (In millions of Korean won) Beginning balance W 888 W 484 W 126 W — W 1,498 Recognition of right-of-use assets on initial application of IFRS 16 (199 ) — — 4,453 4,254 Acquisitions 711 211 163 2,637 3,722 Depreciation (344 ) (198 ) (71 ) (2,135 ) (2,748 ) Disposals — (58 ) (2 ) (15 ) (75 ) Foreign exchange differences 1 4 1 6 12 Ending balance W 1,057 W 443 W 217 W 4,946 W 6,663 2018 Computer and other equipment Furniture and fixture Leasehold improvements Total (In millions of Korean won) Beginning balance W 654 W 165 W 127 W 946 Acquisition 550 472 119 1,141 Depreciation (297 ) (133 ) (115 ) (545 ) Disposal (32 ) (22 ) (5 ) (59 ) Foreign exchange differences 13 2 — 15 Ending balance W 888 W 484 W 126 W 1,498 |
Summary of Classification Depreciation Expenses in Statements of Comprehensive Income | (3) Classification of depreciation expenses in the statements of comprehensive income for the years ended December 31, 2020, 2019 and 2020 2019 2018 (In millions of Korean won) Cost of revenues W 2,123 W 1,795 W 260 Selling, general and administrative expenses 1,424 761 233 Research and development 236 192 52 Total W 3,783 W 2,748 W 545 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Intangible Assets [Abstract] | |
Summary of Intangible Assets | Details of intangible assets as of December 31, 2020 and are as follows December 31, 2020 (In millions of Korean Won) Acquisition price Accumulated amortization(*) Carrying Amount Software W 14,303 W (12,069 ) W 2,234 Industrial property rights 859 (527 ) 332 Other intangible assets 4,546 (3,749 ) 797 Total W 19,708 W (16,345 ) W 3,363 December 31, 2019 (In millions of Korean Won) Acquisition price Accumulated amortization(*) Carrying Amount Software W 12,316 W (11,172 ) W 1,144 Industrial property rights 674 (488 ) 186 Other intangible assets 3,820 (3,433 ) 387 Total W 16,810 W (15,093 ) W 1,717 (*) Accumulated amortization includes the amount of accumulated impairment loss. |
Summary of Changes In Intangible Assets | Changes in intangible assets for the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 Software Industrial property rights License Other intangible assets Total (In millions of Korean won) Beginning balance W 1,144 W 186 W — W 387 W 1,717 Acquisitions/Capital expenditure 1,986 185 — 725 2,896 Amortization (897 ) (39 ) — (201 ) (1,137 ) Disposals — — — — — Impairment(*) — — — (115 ) (115 ) Foreign exchange differences 1 — — 1 2 Ending balance W 2,234 W 332 W — W 797 W 3,363 (*) The Group recognized Korean Won 115 2019 Software Industrial property rights License Other intangible assets Total (In millions of Korean won) Beginning balance W 991 W 72 W 57 W 43 W 1,163 Acquisitions 951 153 — 410 1,514 Amortization (807 ) (27 ) (5 ) (66 ) (905 ) Disposals (8 ) (12 ) — — (20 ) Impairment(*) — — (52 ) — (52 ) Foreign exchange differences 17 — — — 17 Ending balance W 1,144 W 186 W — W 387 W 1,717 (*) The Group recognized Korean Won 52 2018 Software Industrial property rights License Other intangible assets Total (In millions of Korean won) Beginning balance W 64 W 77 W 843 W 52 W 1,036 Acquisitions 1,523 16 78 — 1,617 Amortization (597 ) (21 ) (241 ) (9 ) (868 ) Disposals — — — — — Impairment(*) — — (623 ) — (623 ) Foreign exchange differences 1 — — — 1 Ending balance W 991 W 72 W 57 W 43 W 1,163 (*) The Group recognized Korean Won 623 |
Summary of Classification of Amortization in Statements of Comprehensive Income | Classification of amortization in the statements of comprehensive income for the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 (In millions of Korean won) Cost of revenues W 479 W 101 W 251 Selling, general and administrative expenses 597 745 581 Research and development 61 59 36 Total W 1,137 W 905 W 868 |
Capital (Tables)
Capital (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Classes Of Share Capital [Abstract] | |
Summary of Common Shares | Details of common shares as of December 31, 2020 and 2019 are as follows: December 31, 2020 December 31, 2019 (In Korean won and number of shares) Number of authorized shares 40,000,000 40,000,000 Value per share W 500 W 500 Number of shares issued 6,948,900 6,948,900 Common shares W 3,474,450,000 W 3,474,450,000 |
Summary of Capital Surplus | Details of capital surplus as of December 31, 2020 and 2019 are as follows: December 31, 2020 December 31, 2019 (In millions of Korean won) Additional paid in capital W 25,304 W 25,322 Other capital surplus 1,806 1,806 Total W 27,110 W 27,128 |
Summary of Other Components of Equity | Details of other components of equity as of December 31, 2020 and 2019 are as follows: December 31, 2020 December 31, 2019 (In millions of Korean won) Foreign currency translation adjustments W (1,045 ) W 275 |
Summary of Retained Earnings | Details of retained earnings as of December 31, 2020 and 2019 are as follows: December 31, 2020 December 31, 2019 (In millions of Korean won) Unappropriated retained earnings W 147,371 W 84,668 |
Revenue from Contracts with C_2
Revenue from Contracts with Customers (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Revenue From Contracts With Customers [Abstract] | |
Details of Revenue from Contracts with Customers based on Service Contract and Timing of Satisfaction of Performance Obligations | (1) Details of revenue from contracts with customers based on the service contract type and the timing of satisfaction of performance obligations are as follows: 2020 2019 2018 (In millions of Korean won) Service contract Micro-transaction and subscription revenue Online game W 76,110 W 30,751 W 25,897 Mobile game 251,960 279,255 234,991 328,070 310,006 260,888 Royalties and license fees Online game 13,435 11,571 13,556 Mobile game 46,364 22,648 4,498 59,799 34,219 18,054 Others 18,084 16,742 7,828 405,953 360,967 286,770 Timing of satisfaction of performance obligations At a point in time — 175 8 Over time 405,953 360,792 286,762 W 405,953 W 360,967 W 286,770 |
Account Receivables, Incremental Costs of Obtaining a Contract, and Contract Liabilities | (2) Accounts receivables, incremental costs of obtaining a contract, and contract liabilities related to contracts with customers 2020 2019 (In millions of Korean won) Accounts receivables W 59,761 W 32,253 Incremental costs of obtaining a contract (Prepaid expenses) 1,277 998 Contract liabilities (Deferred revenue) Micro-transaction and subscription revenue 12,886 8,742 Royalties and license fees 307 1,403 Website and application development 600 701 W 13,793 W 10,846 |
Changes in Contract Liabilities | (3) Changes in contract liabilities for the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 (In millions of Korean won) Balance at January 1 W 10,846 W 20,074 W 22,681 Increase related to micro-transaction and subscription revenue 29,124 66,232 12,017 Increase related to royalties and license fees 14,330 — 540 Increase related to website and application development contract 4,580 5,038 834 Decrease upon satisfaction of performance obligations - micro-transaction and subscription revenue (24,980 ) (69,507 ) (12,409 ) Decrease upon satisfaction of performance obligations -royalties and license fees (15,426 ) (5,407 ) (3,066 ) Decrease due to termination of contract — (413 ) (495 ) Decrease upon satisfaction of performance obligations - website and application development (4,681 ) (5,171 ) (28 ) Balance at December 31 W 13,793 W 10,846 W 20,074 |
Transaction Price Allocated to Unsatisfied Performance Obligation | (4) Transaction price allocated to unsatisfied performance obligations as of December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 (In millions of Korean won) Micro-transaction and subscription revenue Online game W 8,418 W 5,358 W 6,160 Mobile game 4,468 3,384 5,857 12,886 8,742 12,017 Royalties and license fees Online game 286 573 7,203 Mobile game 21 830 20 307 1,403 7,223 Website and application development 600 701 834 Total W 13,793 W 10,846 W 20,074 |
Details of Incremental Costs of Obtaining Contract Recognized as Assets | (5) Details of incremental costs of obtaining a contract recognized as assets as of and for the years ended December 31, 2020 and 2019 are as follows: December 31, 2020 December 31, 2019 (In millions of Korean won) Incremental costs of obtaining a contract W 1,277 W 998 |
Details of Amortization Costs Recognized as Cost of Revenues | Details of a mortization costs recognized as cost of revenues 2020 2019 2018 (In millions of Korean won) Amortization costs recognized as cost of revenues W 998 W 2,036 W 2,231 |
Classification of Expenses By_2
Classification of Expenses By Nature (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Expense By Nature [Abstract] | |
Details of Classification of Expenses By Nature | Details of classification of expenses by nature for the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 (In millions of Korean won) Advertising expenses W 30,084 W 14,948 W 17,263 Fees and commissions 230,412 249,210 195,173 Lease expenses 920 1,496 2,604 Outsourcing expenses 9,500 7,875 6,176 Salaries 32,340 26,935 23,137 Expenses related to defined contribution plans 2,030 1,807 1,546 Employee benefits 3,329 3,026 2,655 Depreciation 3,783 2,748 545 Amortization 1,137 905 868 Other expenses 2,944 3,214 2,915 Total W 316,479 W 312,164 W 252,882 |
Selling, General and Administ_2
Selling, General and Administrative Expenses (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Selling General And Administrative Expense [Abstract] | |
Summary of Selling, General and Administrative Expenses | Details of the selling, general and administrative expenses for the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 (In millions of Korean won) Advertising expenses W 30,084 W 14,948 W 17,263 Fees and commissions 13,928 7,262 5,727 Lease expenses 460 665 941 Salaries 11,761 8,643 7,080 Expenses related to defined contribution plans 585 455 387 Employee benefits 1,419 1,253 1,140 Depreciation 1,424 761 233 Amortization 597 745 581 Other expenses 2,142 2,141 1,468 Total W 62,400 W 36,873 W 34,820 |
Other Income and Expenses (Tabl
Other Income and Expenses (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Other Income And Expense [Abstract] | |
Summary of Details of Other Income | Details of other income for the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 (In millions of Korean won) Gain on disposal of property and equipment W — W 3 W 16 Reversal of other bad debt allowances 2 35 — Miscellaneous gain 656 315 106 Total W 658 W 353 W 122 |
Summary of Details of Other Expenses | (2) Details of other expenses 2020 2019 2018 (In millions of Korean won) Loss on retirement and disposal of property and equipment W — W — W 5 Impairment loss on intangible assets 115 52 623 Impairment loss on other non-current assets (*) 1,456 434 — Donation 13 — — Miscellaneous loss 180 7 14 Total W 1,764 W 493 W 642 (*) The Group recognized an impairment loss of Won 1,456 million in 2020 and Won 434 million in 2019 as the recoverable amount was less than the book value of minimum guaranteed royalties for the game in service. |
Finance Income And Costs (Table
Finance Income And Costs (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Finance Income And Costs [Abstract] | |
Summary of Finance Income and Cost | Details of finance income and costs for the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 (In millions of Korean won) Finance income Interest income W 1,088 W 1,626 W 819 Unrealized foreign currency gain 321 119 81 Gain on foreign currency transactions 2,067 2,442 1,173 Total W 3,476 W 4,187 W 2,073 Finance costs Unrealized foreign currency loss W 682 W 267 W 99 Loss on foreign currency transactions 2,965 1,050 891 Others 186 277 12 Total W 3,833 W 1,594 W 1,002 |
Income Tax Expense (Tables)
Income Tax Expense (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Major Components Of Tax Expense Income [Abstract] | |
Schedule of Income Tax Expense | Details of income tax expense for the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 (In millions of Korean won) Current tax on profit for the year W 21,383 W 11,775 W 7,430 Deferred tax expense (benefit) 4,072 (249 ) (4,377 ) Income tax expense W 25,455 W 11,526 W 3,053 |
Summary of Differences Between Tax Expense and Amount Arise Using Statutory Tax Rate Applicable to Profits of Entities | The differences between the tax expense on the Group’s profit before tax and the amount that would arise using the statutory tax rate applicable to profits of the entities for the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 (In millions of Korean won) Profit before income tax W 88,011 W 51,256 W 34,439 Income tax using the statutory tax rate of each country 19,828 12,063 8,994 Adjustments Expenses not deductible for tax purpose 20 42 62 Foreign tax credits 3,223 4,854 5,196 Changes in estimates related to prior period 11 (4,347 ) — Utilization of previously unrecognized deferred tax asset (412 ) — (5,347 ) Change in deferred tax due to carry-forward deficits — (33 ) (6,265 ) Effect of change of foreign currency exchange rate (19 ) (12 ) (221 ) Tax credit (1,022 ) (543 ) — Tax of non-recycled corporation income 668 — — Changes in deferred tax liabilities related to investment in subsidiaries 2,577 — — Others 581 (498 ) 634 Total adjustments 5,627 (537 ) (5,941 ) Income tax expense W 25,455 W 11,526 W 3,053 Effective tax rate 29 % 22 % 9 % |
Schedule of Changes in Deferred Income Tax Assets (Liabilities) | Details of the changes in deferred income tax assets (liabilities) for the years ended December 31, 2020 and 2019 are as follows: 2020 Beginning balance Increase (decrease) Ending balance (In millions of Korean won) Deferred income tax on temporary differences Property and equipment W 7 W 5 W 12 Intangible assets 221 181 402 Other non-current assets 104 401 505 Accounts payables 1,527 (58 ) 1,469 Accrued expenses 39 138 177 Deferred revenue 674 (177 ) 497 Allowance for doubtful account 275 10 285 Other non-current liabilities 46 — 46 Investments in subsidiaries 389 (389 ) — Lease 1 7 8 Foreign taxes paid — 1 1 Investments in subsidiaries(*) — (2,577 ) (2,577 ) Others (25 ) 67 42 Sub Total 3,258 (2,391 ) 867 Deferred tax due to carry-forward deficits 33 (33 ) — Deferred tax due to tax credit carry-forward 4,371 (1,648 ) 2,723 Deferred tax assets W 7,662 W (4,072 ) W 3,590 (*) The Group recognized deferred tax liability of Won 2,577 million for taxable temporary differences associated with investments in subsidiaries. The deferred tax liability was measured by the amount of expected withholding taxes arising upon dividend distribution. 2019 Beginning balance Increase (decrease) Ending balance (In millions of Korean won) Deferred income tax on temporary differences Property and equipment W 25 W (18 ) W 7 Intangible assets 238 (17 ) 221 Other non-current assets 8 96 104 Accounts payables 531 996 1,527 Accrued expenses — 39 39 Deferred revenue 60 614 674 Allowance for doubtful account 264 11 275 Other non-current liabilities 46 — 46 Investments in subsidiaries — 389 389 Lease — 1 1 Foreign taxes paid (4 ) 4 — Others (21 ) (4 ) (25 ) Sub Total 1,147 2,111 3,258 Deferred tax due to carry-forward deficits 1,951 (1,918 ) 33 Deferred tax due to tax credit carry-forward 4,315 56 4,371 Deferred tax assets W 7,413 W 249 W 7,662 |
Schedule of Unused Tax Loss Carryforwards and Unused Tax Credit Carryforwards Not Recognized as Deferred Income Tax Assets | Details of unused tax loss carryforwards and unused tax credit carryforwards that are not recognized as deferred income tax assets as of December 31, 2020 are as follows: Year of expiration Unused loss carryforwards Unused tax credit carryforwards 2023 1,045 — 2024 2,662 — 2025 1,132 — After 2025 6,108 1,759 Total W 10,947 W 1,759 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Earnings Per Share [Abstract] | |
Schedule of Components of Basic Earnings Per Share | (1) Basic earnings per share 2020 2019 2018 (In millions of Korean won, except per share data) Profit attributable to owners of the Parent W 62,703 W 39,876 W 31,443 Weighted average outstanding shares of common shares 6,948,900 6,948,900 6,948,900 Basic earnings per share W 9,023 W 5,738 W 4,525 |
Statements of Cash Flows (Table
Statements of Cash Flows (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Cash Flow Statement [Abstract] | |
Summary of Cash Generated From Operations | Cash generated from operations for the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 (In millions of Korean won) Profit for the year W 62,556 W 39,730 W 31,386 Depreciation expense 3,783 2,748 545 Amortization expense 1,137 905 868 Bad debt expenses 713 281 151 Unrealized foreign currency loss 682 267 99 Interest expense 186 277 — Loss on retirement and disposal of property and equipment — — 5 Impairment loss on intangible assets 115 52 623 Impairment loss on other non-current assets 1,456 434 — Post-employment benefit expense (Reversal of allowance for retirement benefit) 62 (4 ) 50 Income tax expense 25,455 11,526 3,053 Unrealized foreign currency gain (321 ) (119 ) (81 ) Interest income (1,088 ) (1,626 ) (819 ) Gain on disposal of property and equipment — (3 ) (16 ) Reversal of allowance for doubtful accounts (50 ) (34 ) — Gain on disposal of intangible assets — (1 ) — Change in accounts receivables (29,116 ) 30,143 (18,573 ) Change in other receivables 60 232 406 Change in accrued income — — — Change in prepaid expenses (2,134 ) 1,981 544 Change in prepayment (2,755 ) (204 ) — Change in other current assets 622 (556 ) 192 Change in other non-current assets 2,255 (1,860 ) (1,137 ) Change in accounts payables 15,510 (37,145 ) 27,319 Change in deferred revenue 3,332 (9,631 ) (2,707 ) Change in withholdings 1,218 (397 ) 580 Change in accrued expenses 181 140 (7 ) Change in other current liabilities (1,256 ) 113 (13 ) Change in long-term deferred revenue — — 100 Change in other non-current liabilities (868 ) (463 ) — Change in advance receipt — 434 — Total W 81,735 W 37,220 W 42,571 |
Summary of Significant Non-cash Transactions | Significant non-cash transactions for the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 (In millions of Korean won) Reclassification of prepayment to intangible assets W 72 W 120 W — Increase (Decrease) of accounts payables relating to the acquisition of software 1,144 33 226 Acquisitions of right-of-use assets 3,784 2,637 — |
Summary of Changes in Liabilities Arising From Financing Activities | Changes in liabilities arising from financing activities for the year ended December 31, 2020 and 2019 are as follows: 2020 2019 (In millions of Korean won) Beginning of the year W 4,994 W 4,401 Cash flows used in financing activities – Payment of lease liabilities (2,893 ) (2,034 ) Cash flows from operating activities – Interest paid (186 ) (277 ) Non-cash transactions Acquisitions – leases 3,784 2,637 Interest expense 186 277 Early termination of leases (14 ) (15 ) Translation difference 29 5 Ending of the year W 5,900 W 4,994 |
Lease (Tables)
Lease (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Presentation Of Leases For Lessee [Abstract] | |
Summary of of Right-of-Use Assets and Lease Liabilities Recognized in Consolidated Statements of Financial Position | (1) Details of right-of-use assets and lease liabilities recognized in the consolidated statements of financial position December 31, 2020 December 31, 2019 (In millions of Korean won) Right-of-use assets(*1) Offices W 3,904 W 3,642 Vehicles 102 266 Others 1,731 1,038 Total W 5,737 W 4,946 Lease liabilities(*2) Current 2,653 1,986 Non-current 3,247 3,008 Total W 5,900 W 4,994 (*1) Right-of-use assets are (*2) Lease liabilities are |
Summary of Changes in Right-of-Use Assets | (2) Changes in right-of-use assets for the years ended December 31, 2020 and 2019 are as follows: 2020 Offices Vehicles Others Total (In millions of Korean won) Balance as of January 1, 2020 W 3,642 W 266 W 1,038 W 4,946 Depreciation (1,493 ) (186 ) (1,278 ) (2,957 ) Additions 1,780 36 1,968 3,784 Removal — (13 ) — (13 ) Translation differences (25 ) (1 ) 3 (23 ) Balance as of December 31, 2020 W 3,904 W 102 W 1,731 W 5,737 2019 Offices Vehicles Others Total (In millions of Korean won) Balance as of January 1, 2019 W 2,752 W 53 W 1,648 W 4,453 Depreciation (901 ) (92 ) (1,142 ) (2,135 ) Additions 1,791 320 526 2,637 Removal — (15 ) — (15 ) Translation differences — — 6 6 Balance as of December 31, 2019 W 3,642 W 266 W 1,038 W 4,946 |
Summary of Amounts Recognized in Consolidated Statements of Profit or Loss | (3) Details of amounts recognized in the consolidated statements of profit or loss for the years ended December 31, 2020 and 2019 are as follows: 2020 2019 (In millions of Korean won) Interest expense relating to lease liabilities (included in finance cost) W 186 W 277 Expense relating to short-term leases 123 322 Expense relating to leases of low-value assets that are not short-term leases 9 10 |
Summary of Amounts Relating to Leases in Consolidated Statements of Profit or Loss | (4) Details of amounts recognized in the consolidated statements of the 2020 2019 (In millions of Korean won) Total cash outflows of leases W 3,210 W 2,644 |
Financial Risk Management (Tabl
Financial Risk Management (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Financial Instruments [Abstract] | |
Schedule of Company's Debt to Equity Ratio | The debt ratios as of December 31, 2020 and 2019 are as follows: 2020 2019 (In millions of Korean won) Total liabilities W 88,024 W 59,659 Total equity 177,348 115,766 Debt-to-equity ratio 50 % 52 % |
Schedule of Financial Assets and Liabilities Exposed in Foreign Currency Risk | The Group is exposed to foreign exchange risk arising from royalty revenues and commission payment primarily with respect to the US dollar and etc. The Group’s financial assets and liabilities are exposed to foreign currency risk as of December 31, 2020 and 2019 are as follows: December 31, 2020 Financial assets Financial liabilities Financial assets Financial liabilities (In each foreign currency) (In millions of Korean won) USD 29,204,905 15,715,800 W 31,775 W 17,099 JPY 388,760,925 198,432,867 4,099 2,092 EUR 344,842 8,399 461 11 IDR 12,955,000 15,289,944 1 1 THB 28,510 7,379 1 — TWD 105,408,193 3,264,754 4,076 126 VND 9,270,000 3,243,600 — — Total W 40,413 W 19,329 December 31, 2019 Financial assets Financial liabilities Financial assets Financial liabilities (In each foreign currency) (In millions of Korean won) USD 8,100,729 5,775,721 W 9,403 W 6,696 JPY 456,300,430 340,468,613 4,854 3,621 EUR 338,598 1,000 439 1 IDR 12,955,000 17,023,944 1 1 THB 28,510 7,379 1 — TWD 29,236,669 5,567,672 1,125 214 VND 9,270,000 3,243,600 — — GBP — 5,625 — 9 HKD 368,048 — 55 — Total W 15,878 W 10,542 |
Summary of Impact of Fluctuation in Foreign Currency Exchange Rates on Group's Monetary Assets and Liabilities | The impact of a 10% fluctuation in foreign currency exchange rates on the Group’s monetary assets and liabilities as of December 31, 2020 and 2019 are as follows: December 31, 2020 December 31, 2019 10% 10% Decrease 10% Increase 10% Decrease (In millions of Korean won) USD W 1,468 W (1,468 ) W 271 W (271 ) JPY 201 (201 ) 123 (123 ) Others 440 (440 ) 140 (140 ) Total W 2,109 W (2,109 ) W 534 W (534 ) |
Summary of Maximum Exposure to Credit Risk | The carrying amount of a financial asset represents the maximum exposure to credit risk. The maximum exposure to credit risk of the Group December 31, 2020 December 31, 2019 (In millions of Korean won) Cash and cash equivalents W 110,632 W 79,428 Short-term financial instruments 71,000 39,500 Accounts receivable 59,761 32,253 Other receivable 8 56 Other current financial assets 818 233 Other non-current financial assets 1,324 1,770 Total W 243,543 W 153,240 |
Summary of Financial Liabilities by Maturity | The following table summarizes the financial liabilities of the Group by maturity according to the remaining period from the end of the reporting period to the contractual maturity date. December 31, 2020 Carrying value Less than 3 months 3 months ~ 1 year 1~2 years 2~3 years 3~5 years Total (In millions of Korean won) Accounts payable W 54,090 W 43,438 W 9,250 W 1,402 W — W — W 54,090 Accrued expenses 62 62 — — — — 62 Other liabilities (*) 5,900 812 2,107 2,146 597 733 6,395 Total W 60,052 W 44,312 W 11,357 W 3,548 W 597 W 733 W 60,547 (*) Other liabilities as at December 31, 2020 consist of lease liabilities. December 31, 2019 Carrying value Less than 3 months 3 months ~ 1 year 1~2 years 2~3 years 3~5 years Total (In millions of Korean won) Accounts payable W 37,689 W 21,374 W 16,122 W 193 W — W — W 37,689 Accrued expenses 1,175 1,175 — — — — 1,175 Other liabilities (*) 4,994 598 1,653 1,780 1,029 428 5,488 Total W 43,858 W 23,147 W 17,775 W 1,973 W 1,029 W 428 W 44,352 (*) Other liabilities as at December 31, 2019 consist of lease liabilities. |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Operating Segments [Abstract] | |
Summary of Segment Information | The segment information for the years ended December 2020 Revenue Depreciation Amortization Operating profit(*2) (In millions of Korean won) Online W 107,949 W 1,609 W 45,115 Mobile 336,326 1,823 42,493 Others 22,333 1,488 510 Sub total 466,608 4,920 88,118 Inter-segment eliminations(*1) (60,655 ) — 250 Total W 405,953 W 4,920 W 88,368 2019 Revenue Depreciation Amortization Operating profit(*2) (In millions of Korean won) Online W 48,182 W 1,401 W 7,754 Mobile 346,878 1,145 38,655 Others 19,352 1,107 562 Sub total 414,412 3,653 46,971 Inter-segment eliminations(*1) (53,445 ) — 1,692 Total W 360,967 W 3,653 W 48,663 2018 Revenue Depreciation Amortization Operating profit(*2) (In millions of Korean won) Online W 41,288 W 238 W 4,286 Mobile 257,364 473 24,795 Others 9,526 715 1,086 Sub total 308,178 1,426 30,167 Inter-segment eliminations(*1) (21,408 ) (12 ) 3,201 Total W 286,770 W 1,414 W 33,368 (* 1) The Group reflects inter-segment eliminations as adjustments. (* 2) Other profit or loss items that do not constitute operating profit (loss) are not separately disclosed because they are not reviewed by the chief operating decision maker by operating segment. |
Summary Revenue from External Customers by Country | (2) Revenue from external customers by country for the 2020, 2020 2019 2018 (In millions of Korean won) Korea W 109,895 W 45,273 W 80,814 Taiwan 100,049 52,118 98,210 Japan 22,500 28,469 9,767 The United States of America 20,659 55,062 10,572 Thailand 59,086 62,043 43,846 The Philippines 23,690 30,951 15,539 Indonesia 12,729 22,355 9,359 Other 57,345 64,696 18,663 Total W 405,953 W 360,967 W 286,770 (*) Revenue was attributed to the country based on the customer’s location. |
Summary of Non-Current Assets by Geographical Regions | Non-Current assets by geographical regions as of December 31, 2020, December 31, 2020 December 31, 2019 December 31, 2018 (In millions of Korean won) Domestic W 7,612 W 5,732 W 3,054 Overseas 5,481 4,170 1,045 Total W 13,093 W 9,902 W 4,099 (*) The amounts are exclusive of financial assets and deferred tax assets. (3) No individual external customers accounted for more than 10% of consolidated revenue for the years ended December 31, 2020, 2019 and 2018. |
Transactions with Related Par_2
Transactions with Related Parties (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |
Summary of Account Balances with Related Parties | Balances of receivables and payables to related parties as of December 31, 2020 and 2019 are as follows : December 31, 2020 December 31, 2019 Related parties classification Entity Receivable Payable Receivable Payable Parent company Gung-Ho Online Entertainment, Inc. W 2,547 W 5 W 2,722 W 74 The details of transaction with related parties for the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 Related parties classification Entity Sales Purchase Sales Purchase Sales Purchase (In millions of Korean won) Parent company Gung-Ho Online Entertainment, Inc. W 21,833 W 211 W 27,484 W 60 W 10,516 W 3 |
Summary of Key Management Personnel Compensation | The compensation for the key management personnel (registered directors), for the years ended December 31, 2020, 2019 and 2018 are as follows: 2020 2019 2018 (In millions of Korean won) Salary W 1,177 W 866 W 690 |
General Information - Additiona
General Information - Additional Information (Details) ₩ in Millions | Dec. 31, 2020KRW (₩)Marketshares | Dec. 31, 2019KRW (₩) | Feb. 08, 2005shares |
General Information [Line Items] | |||
Number of international markets | Market | 93 | ||
Number of shares issued | shares | 6,948,900 | ||
Share capital | ₩ | ₩ 3,474 | ₩ 3,474 | |
American Depositary Shares | |||
General Information [Line Items] | |||
Number of shares issued | shares | 1,400,000 | ||
Share capital | ₩ | ₩ 3,474 |
General Information - Schedule
General Information - Schedule of Major Shareholders and their Respective Percentage of Ownership (Details) | Dec. 31, 2020shares |
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |
Number of shares | 6,948,900 |
Ownership percentage | 100.00% |
GungHo Online Entertainment, Inc. | |
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |
Number of shares | 4,121,737 |
Ownership percentage | 59.31% |
Others | |
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |
Number of shares | 2,827,163 |
Ownership percentage | 40.69% |
General Information - Schedul_2
General Information - Schedule of Consolidated Subsidiaries (Details) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Gravity Interactive, Inc. | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Subsidiary | Gravity Interactive, Inc. | |
Location | U.S.A. | |
Ownership interest held by the Gravity (%) | 100.00% | 100.00% |
Fiscal Year End | December | |
Main business | Online and mobile game services | |
Gravity NeoCyon, Inc. (Formerly, NeoCyon, Inc.) | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Subsidiary | Gravity NeoCyon, Inc. (Formerly, NeoCyon, Inc.) | |
Location | Korea | |
Ownership interest held by the Gravity (%) | 99.53% | 99.24% |
Fiscal Year End | December | |
Main business | Mobile game development and service | |
Gravity Communications Co.,Ltd. | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Subsidiary | Gravity Communications Co.,Ltd. | |
Location | Taiwan | |
Ownership interest held by the Gravity (%) | 100.00% | 100.00% |
Fiscal Year End | December | |
Main business | Online and mobile game services | |
Gravity Entertainment Corporation | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Subsidiary | Gravity Entertainment Corporation | |
Location | Japan | |
Ownership interest held by the Gravity (%) | 100.00% | |
Fiscal Year End | December | |
Main business | Animation production, distribution, and game services | |
PT. Gravity Game Link | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Subsidiary | PT. Gravity Game Link | |
Location | Indonesia | |
Ownership interest held by the Gravity (%) | 70.00% | 70.00% |
Fiscal Year End | December | |
Main business | Online and mobile game services | |
Gravity Game Tech Co.,Ltd. | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Subsidiary | Gravity Game Tech Co.,Ltd. | |
Location | Thailand | |
Ownership interest held by the Gravity (%) | 100.00% | 100.00% |
Fiscal Year End | December | |
Main business | Online and mobile game services | |
Gravity Game Arise Co., Ltd. | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Subsidiary | Gravity Game Arise Co., Ltd. | |
Location | Japan | |
Ownership interest held by the Gravity (%) | 100.00% | 100.00% |
Fiscal Year End | December | |
Main business | Online and mobile game services |
General Information - Schedul_3
General Information - Schedule of Consolidated Financial Information Subsidiaries (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |||
Total assets | ₩ 265,372 | ₩ 175,425 | |
Total liabilities | 88,024 | 59,659 | |
Revenue | 405,953 | 360,967 | ₩ 286,770 |
Profit (loss) for the year | 62,556 | 39,730 | ₩ 31,386 |
Gravity Interactive, Inc. | |||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |||
Total assets | 31,849 | 39,296 | |
Total liabilities | 23,405 | 29,112 | |
Revenue | 123,055 | 230,029 | |
Profit (loss) for the year | 1,138 | 12,804 | |
Gravity Entertainment Corporation | |||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |||
Total assets | 44 | ||
Total liabilities | 52 | ||
Revenue | 263 | ||
Profit (loss) for the year | 8 | (443) | |
Gravity NeoCyon, Inc. (Formerly, NeoCyon, Inc.) | |||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |||
Total assets | 11,069 | 9,145 | |
Total liabilities | 7,422 | 6,728 | |
Revenue | 26,368 | 25,347 | |
Profit (loss) for the year | (1,754) | (982) | |
Gravity Communications Co.,Ltd. | |||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |||
Total assets | 33,717 | 19,964 | |
Total liabilities | 10,070 | 8,227 | |
Revenue | 41,677 | 21,811 | |
Profit (loss) for the year | 12,281 | 5,637 | |
PT. Gravity Game Link | |||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |||
Total assets | 2,185 | 960 | |
Total liabilities | 664 | 202 | |
Revenue | 4,881 | 745 | |
Profit (loss) for the year | (315) | (437) | |
Gravity Game Tech Co.,Ltd. | |||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |||
Total assets | 21,093 | 4,008 | |
Total liabilities | 6,315 | 2,624 | |
Revenue | 39,147 | 2,295 | |
Profit (loss) for the year | 13,989 | (1,973) | |
Gravity Game Arise Co., Ltd. | |||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |||
Total assets | 2,637 | 1,841 | |
Total liabilities | 2,066 | 1,343 | |
Revenue | 2,483 | 771 | |
Profit (loss) for the year | ₩ 82 | ₩ (35) |
Significant Accounting Polici_4
Significant Accounting Policies - Additional Information (Details) - KRW (₩) | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Significant Accounting Policies [Abstract] | |||
Transfers of financial assets | ₩ 0 | ₩ 0 | ₩ 0 |
Common stock equivalents outstanding | 0 | 0 |
Significant Accounting Polici_5
Significant Accounting Policies - Property and Equipment Estimated Useful Lives (Details) | 12 Months Ended |
Dec. 31, 2020 | |
Computer and Other Equipment | |
Disclosure Of Property Plant And Equipment [Line Items] | |
Property and equipment, estimated useful lives | 4 years |
Furniture and Fixtures | |
Disclosure Of Property Plant And Equipment [Line Items] | |
Property and equipment, estimated useful lives | 4 years |
Vehicles | |
Disclosure Of Property Plant And Equipment [Line Items] | |
Property and equipment, estimated useful lives | 4 years |
Leasehold Improvements | |
Disclosure Of Property Plant And Equipment [Line Items] | |
Property and equipment, estimated useful lives | 4 years |
Significant Accounting Polici_6
Significant Accounting Policies - Summary of Useful Lives of Intangible Assets (Details) | 12 Months Ended |
Dec. 31, 2020 | |
Software | Bottom of Range | |
Disclosure Of Intangible Assets [Line Items] | |
Intangible assets, useful lives | 1 year |
Software | Top of Range | |
Disclosure Of Intangible Assets [Line Items] | |
Intangible assets, useful lives | 3 years |
Industrial Property Rights | |
Disclosure Of Intangible Assets [Line Items] | |
Intangible assets, useful lives | 10 years |
Other Intangible Assets | |
Disclosure Of Intangible Assets [Line Items] | |
Intangible assets, useful lives | 3 years |
Cash and Cash Equivalents - Sum
Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Cash And Cash Equivalents [Abstract] | ||||
Deposits in banks | ₩ 95,573 | ₩ 52,941 | ||
Money market instruments | 15,059 | 26,487 | ||
Total | ₩ 110,632 | ₩ 79,428 | ₩ 86,051 | ₩ 39,095 |
Cash and Cash Equivalents - Add
Cash and Cash Equivalents - Additional Information (Details) - KRW (₩) | Dec. 31, 2020 | Dec. 31, 2019 |
Cash And Cash Equivalents [Abstract] | ||
Restricted cash and cash equivalents | ₩ 0 | ₩ 0 |
Financial Instruments by Cate_3
Financial Instruments by Category - Schedule of Carrying Amounts of Financial Instruments by Category (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Financial Assets And Liabilities [Line Items] | ||||
Cash and cash equivalents | ₩ 110,632 | ₩ 79,428 | ₩ 86,051 | ₩ 39,095 |
Short-term financial instruments | 71,000 | 39,500 | ||
Accounts receivables, net | 59,761 | 32,253 | ||
Other receivables, net | 8 | 56 | ||
Other current financial assets | 818 | 233 | ||
Other non-current financial assets | 1,324 | 1,770 | ||
Total | 40,413 | 15,878 | ||
Accounts payables | 52,688 | 37,496 | ||
Total | 19,329 | 10,542 | ||
Financial Assets at Amortized Cost | ||||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||||
Cash and cash equivalents | 110,632 | 79,428 | ||
Short-term financial instruments | 71,000 | 39,500 | ||
Accounts receivables, net | 59,761 | 32,253 | ||
Other receivables, net | 8 | 56 | ||
Other current financial assets | 818 | 233 | ||
Other non-current financial assets | 1,324 | 1,770 | ||
Total | 243,543 | 153,240 | ||
Financial Liabilities at Amortized Cost | ||||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||||
Accounts payables | 54,090 | 37,689 | ||
Accrued expenses (*) | 62 | 19 | ||
Other current liabilities | 2,653 | 1,986 | ||
Other non-current liabilities | 3,247 | 3,008 | ||
Total | ₩ 60,052 | ₩ 42,702 |
Financial Instruments by Cate_4
Financial Instruments by Category - Schedule of Net Income and Expenses From Financial Instruments (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Financial Assets at Amortized Cost | Interest Income | |||
Disclosure Of Financial Instruments [Line Items] | |||
Income and expenses on financial assets at amortized cost | ₩ 1,088 | ₩ 1,626 | ₩ 819 |
Financial Assets at Amortized Cost | Differences in Foreign Currency | |||
Disclosure Of Financial Instruments [Line Items] | |||
Income and expenses on financial assets at amortized cost | (1,796) | 1,267 | 159 |
Financial Liabilities at Amortized Cost | Interests Expense | |||
Disclosure Of Financial Instruments [Line Items] | |||
Income and expenses on financial liabilities at amortized cost | (186) | (277) | |
Financial Liabilities at Amortized Cost | Differences in Foreign Currency | |||
Disclosure Of Financial Instruments [Line Items] | |||
Income and expenses on financial liabilities at amortized cost | ₩ 537 | ₩ (22) | ₩ 105 |
Accounts and Other Receivable_2
Accounts and Other Receivables - Summary of Accounts and Other Receivables (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Accounts Receivables | ||||
Trade And Other Receivables [Line Items] | ||||
Non-related party | ₩ 57,793 | ₩ 29,697 | ||
Related party | 2,547 | 2,721 | ||
Less : Loss allowance | (579) | (165) | ₩ (22) | ₩ (123) |
Accounts receivables, net | 59,761 | 32,253 | ||
Other Receivables | ||||
Trade And Other Receivables [Line Items] | ||||
Non-related party | 13 | 60 | ||
Less : Loss allowance | (5) | (4) | ₩ (84) | ₩ (46) |
Other receivables, net | ₩ 8 | ₩ 56 |
Accounts and Other Receivable_3
Accounts and Other Receivables - Summary of Changes in Loss Allowance of Accounts and Other Receivables (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Trade And Other Receivables [Line Items] | |||
Bad debt expenses | ₩ 713 | ₩ 281 | ₩ 151 |
Reversal of allowance for doubtful accounts | (50) | (34) | |
Accounts Receivables | |||
Trade And Other Receivables [Line Items] | |||
Beginning balance | 165 | 22 | 123 |
Bad debt expenses | 712 | 281 | 55 |
Reversal of allowance for doubtful accounts | (50) | ||
Write-off | (248) | (138) | (156) |
Ending balance | 579 | 165 | 22 |
Other Receivables | |||
Trade And Other Receivables [Line Items] | |||
Beginning balance | 4 | 84 | 46 |
Bad debt expenses | 1 | 40 | |
Reversal of allowance for doubtful accounts | (34) | ||
Write-off | (46) | (2) | |
Ending balance | ₩ 5 | ₩ 4 | ₩ 84 |
Accounts and Other Receivable_4
Accounts and Other Receivables - Summary of ECLs and Credit Risk Exposures for Accounts and Other Receivables (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Accounts Receivables | ||||
Trade And Other Receivables [Line Items] | ||||
Carrying amount | ₩ 60,340 | ₩ 32,419 | ||
Loss allowance | 579 | 165 | ₩ 22 | ₩ 123 |
Other Receivables | ||||
Trade And Other Receivables [Line Items] | ||||
Carrying amount | 13 | 61 | ||
Loss allowance | ₩ 5 | ₩ 4 | ₩ 84 | ₩ 46 |
Not due or overdue less than 90 days | Expected Credit Losses and Credit Risk Exposures | Accounts Receivables | ||||
Trade And Other Receivables [Line Items] | ||||
Expected loss rate | 0.10% | 0.30% | ||
Carrying amount | ₩ 57,661 | ₩ 31,146 | ||
Loss allowance | 54 | ₩ 97 | ||
Not due or overdue less than 90 days | Expected Credit Losses and Credit Risk Exposures | Other Receivables | ||||
Trade And Other Receivables [Line Items] | ||||
Expected loss rate | 4.30% | |||
Carrying amount | ₩ 8 | ₩ 57 | ||
Loss allowance | ₩ 2 | |||
More than 90 days ~ Less than 180 days | Expected Credit Losses and Credit Risk Exposures | Accounts Receivables | ||||
Trade And Other Receivables [Line Items] | ||||
Expected loss rate | 5.00% | 3.60% | ||
Carrying amount | ₩ 2,138 | ₩ 1,213 | ||
Loss allowance | ₩ 107 | ₩ 44 | ||
More than 90 days ~ Less than 180 days | Expected Credit Losses and Credit Risk Exposures | Other Receivables | ||||
Trade And Other Receivables [Line Items] | ||||
Expected loss rate | 32.80% | |||
Carrying amount | ₩ 2 | |||
Loss allowance | ₩ 1 | |||
More than 180 days ~ Less than 270 days | Expected Credit Losses and Credit Risk Exposures | Accounts Receivables | ||||
Trade And Other Receivables [Line Items] | ||||
Expected loss rate | 55.30% | 21.10% | ||
Carrying amount | ₩ 276 | ₩ 30 | ||
Loss allowance | ₩ 153 | ₩ 6 | ||
More than 180 days ~ Less than 270 days | Expected Credit Losses and Credit Risk Exposures | Other Receivables | ||||
Trade And Other Receivables [Line Items] | ||||
Expected loss rate | 99.60% | |||
Carrying amount | ₩ 1 | |||
Loss allowance | ₩ 1 | |||
More than 270 days ~ Less than 1 year | Expected Credit Losses and Credit Risk Exposures | Accounts Receivables | ||||
Trade And Other Receivables [Line Items] | ||||
Expected loss rate | 99.90% | 51.90% | ||
Carrying amount | ₩ 79 | ₩ 24 | ||
Loss allowance | ₩ 79 | ₩ 12 | ||
More than 270 days ~ Less than 1 year | Expected Credit Losses and Credit Risk Exposures | Other Receivables | ||||
Trade And Other Receivables [Line Items] | ||||
Expected loss rate | 100.00% | 100.00% | ||
Carrying amount | ₩ 5 | ₩ 1 | ||
Loss allowance | ₩ 5 | |||
More than 1 year | Expected Credit Losses and Credit Risk Exposures | Accounts Receivables | ||||
Trade And Other Receivables [Line Items] | ||||
Expected loss rate | 100.00% | 100.00% | ||
Carrying amount | ₩ 186 | ₩ 6 | ||
Loss allowance | ₩ 186 | ₩ 6 |
Property and Equipment - Summar
Property and Equipment - Summary of Property Plant and Equipment (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property and equipment, net | ₩ 7,695 | ₩ 6,663 | ₩ 1,498 | ₩ 946 |
Right-of-use Assets | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property and equipment, net | 5,737 | 4,946 | ||
Computer and Other Equipment | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property and equipment, net | 1,380 | 1,057 | 888 | 654 |
Furniture and Fixtures | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property and equipment, net | 310 | 443 | 484 | 165 |
Construction in Progress | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property and equipment, net | 128 | |||
Leasehold Improvements | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property and equipment, net | 132 | 217 | ₩ 126 | ₩ 127 |
Vehicles | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property and equipment, net | 8 | |||
Accumulated Depreciation | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property and equipment, net | (13,214) | (10,910) | ||
Accumulated Depreciation | Right-of-use Assets | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property and equipment, net | (5,763) | (3,681) | ||
Accumulated Depreciation | Computer and Other Equipment | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property and equipment, net | (4,694) | (4,614) | ||
Accumulated Depreciation | Furniture and Fixtures | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property and equipment, net | (1,728) | (1,541) | ||
Accumulated Depreciation | Leasehold Improvements | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property and equipment, net | (1,028) | (1,074) | ||
Accumulated Depreciation | Vehicles | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property and equipment, net | (1) | |||
Acquisition Price | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property and equipment, net | 20,909 | 17,573 | ||
Acquisition Price | Right-of-use Assets | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property and equipment, net | 11,500 | 8,627 | ||
Acquisition Price | Computer and Other Equipment | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property and equipment, net | 6,074 | 5,671 | ||
Acquisition Price | Furniture and Fixtures | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property and equipment, net | 2,038 | 1,984 | ||
Acquisition Price | Construction in Progress | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property and equipment, net | 128 | |||
Acquisition Price | Leasehold Improvements | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property and equipment, net | 1,160 | ₩ 1,291 | ||
Acquisition Price | Vehicles | ||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||
Property and equipment, net | ₩ 9 |
Property and Equipment - Summ_2
Property and Equipment - Summary of Change in Property and Equipment (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Property Plant And Equipment [Line Items] | |||
Property, plant and equipment beginning balance | ₩ 6,663 | ₩ 1,498 | ₩ 946 |
Recognition of right-of-use assets on initial application of IFRS 16 | 4,254 | ||
Acquisitions/Capital expenditure | 4,855 | 3,722 | 1,141 |
Depreciation | (3,783) | (2,748) | (545) |
Disposals | (17) | (75) | (59) |
Foreign exchange differences | (23) | 12 | 15 |
Property, plant and equipment ending balance | 7,695 | 6,663 | 1,498 |
Right-of-use Assets | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Property, plant and equipment beginning balance | 4,946 | ||
Recognition of right-of-use assets on initial application of IFRS 16 | 4,453 | ||
Acquisitions/Capital expenditure | 3,784 | 2,637 | |
Depreciation | (2,957) | (2,135) | |
Disposals | (13) | (15) | |
Foreign exchange differences | (23) | 6 | |
Property, plant and equipment ending balance | 5,737 | 4,946 | |
Computer and Other Equipment | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Property, plant and equipment beginning balance | 1,057 | 888 | 654 |
Recognition of right-of-use assets on initial application of IFRS 16 | (199) | ||
Acquisitions/Capital expenditure | 850 | 711 | 550 |
Depreciation | (529) | (344) | (297) |
Disposals | (1) | (32) | |
Foreign exchange differences | 3 | 1 | 13 |
Property, plant and equipment ending balance | 1,380 | 1,057 | 888 |
Furniture and Fixtures | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Property, plant and equipment beginning balance | 443 | 484 | 165 |
Acquisitions/Capital expenditure | 81 | 211 | 472 |
Depreciation | (213) | (198) | (133) |
Disposals | (1) | (58) | (22) |
Foreign exchange differences | 4 | 2 | |
Property, plant and equipment ending balance | 310 | 443 | 484 |
Construction in Progress | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Acquisitions/Capital expenditure | 128 | ||
Property, plant and equipment ending balance | 128 | ||
Vehicles | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Acquisitions/Capital expenditure | 9 | ||
Depreciation | (1) | ||
Property, plant and equipment ending balance | 8 | ||
Leasehold Improvements | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Property, plant and equipment beginning balance | 217 | 126 | 127 |
Acquisitions/Capital expenditure | 3 | 163 | 119 |
Depreciation | (83) | (71) | (115) |
Disposals | (2) | (2) | (5) |
Foreign exchange differences | (3) | 1 | |
Property, plant and equipment ending balance | ₩ 132 | ₩ 217 | ₩ 126 |
Property and Equipment - Summ_3
Property and Equipment - Summary of Classification of Depreciation Expenses in Statements of Comprehensive Income (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Property Plant And Equipment [Line Items] | |||
Depreciation of property,plant and equipment | ₩ 3,783 | ₩ 2,748 | ₩ 545 |
Cost of Revenues | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Depreciation of property,plant and equipment | 2,123 | 1,795 | 260 |
Selling, General and Administrative Expenses | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Depreciation of property,plant and equipment | 1,424 | 761 | 233 |
Research and Development | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Depreciation of property,plant and equipment | ₩ 236 | ₩ 192 | ₩ 52 |
Property and Equipment - Additi
Property and Equipment - Additional Information (Details) | Dec. 31, 2020KRW (₩) |
Property Plant And Equipment [Abstract] | |
Property and equipment pledged as collaterals | ₩ 0 |
Intangible Assets - Summary of
Intangible Assets - Summary of Intangible Assets (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Intangible Assets [Line Items] | ||||
Intangible assets | ₩ 3,363 | ₩ 1,717 | ₩ 1,163 | ₩ 1,036 |
Software | ||||
Disclosure Of Intangible Assets [Line Items] | ||||
Intangible assets | 2,234 | 1,144 | 991 | 64 |
Industrial Property Rights | ||||
Disclosure Of Intangible Assets [Line Items] | ||||
Intangible assets | 332 | 186 | ₩ 72 | ₩ 77 |
Other Intangible Assets | ||||
Disclosure Of Intangible Assets [Line Items] | ||||
Intangible assets | 797 | 387 | ||
Accumulated Amortization | ||||
Disclosure Of Intangible Assets [Line Items] | ||||
Intangible assets | (16,345) | (15,093) | ||
Accumulated Amortization | Software | ||||
Disclosure Of Intangible Assets [Line Items] | ||||
Intangible assets | (12,069) | (11,172) | ||
Accumulated Amortization | Industrial Property Rights | ||||
Disclosure Of Intangible Assets [Line Items] | ||||
Intangible assets | (527) | (488) | ||
Accumulated Amortization | Other Intangible Assets | ||||
Disclosure Of Intangible Assets [Line Items] | ||||
Intangible assets | (3,749) | (3,433) | ||
Acquisition Price | ||||
Disclosure Of Intangible Assets [Line Items] | ||||
Intangible assets | 19,708 | 16,810 | ||
Acquisition Price | Software | ||||
Disclosure Of Intangible Assets [Line Items] | ||||
Intangible assets | 14,303 | 12,316 | ||
Acquisition Price | Industrial Property Rights | ||||
Disclosure Of Intangible Assets [Line Items] | ||||
Intangible assets | 859 | 674 | ||
Acquisition Price | Other Intangible Assets | ||||
Disclosure Of Intangible Assets [Line Items] | ||||
Intangible assets | ₩ 4,546 | ₩ 3,820 |
Intangible Assets - Summary o_2
Intangible Assets - Summary of Changes In Intangible Assets (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets at beginning balance | ₩ 1,717 | ₩ 1,163 | ₩ 1,036 |
Acquisitions/Capital expenditure | 2,896 | 1,514 | 1,617 |
Amortization | (1,137) | (905) | (868) |
Disposals | (20) | ||
Impairment | (115) | (52) | (623) |
Foreign exchange differences | 2 | 17 | 1 |
Intangible assets at ending balance | 3,363 | 1,717 | 1,163 |
Software | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets at beginning balance | 1,144 | 991 | 64 |
Acquisitions/Capital expenditure | 1,986 | 951 | 1,523 |
Amortization | (897) | (807) | (597) |
Disposals | (8) | ||
Foreign exchange differences | 1 | 17 | 1 |
Intangible assets at ending balance | 2,234 | 1,144 | 991 |
License | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets at beginning balance | 57 | 843 | |
Acquisitions/Capital expenditure | 78 | ||
Amortization | (5) | (241) | |
Impairment | (52) | (623) | |
Intangible assets at ending balance | 57 | ||
Industrial Property Rights | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets at beginning balance | 186 | 72 | 77 |
Acquisitions/Capital expenditure | 185 | 153 | 16 |
Amortization | (39) | (27) | (21) |
Disposals | (12) | ||
Intangible assets at ending balance | 332 | 186 | 72 |
Other Intangible Assets | |||
Disclosure Of Intangible Assets [Line Items] | |||
Intangible assets at beginning balance | 387 | 43 | 52 |
Acquisitions/Capital expenditure | 725 | 410 | |
Amortization | (201) | (66) | (9) |
Impairment | (115) | ||
Foreign exchange differences | 1 | ||
Intangible assets at ending balance | ₩ 797 | ₩ 387 | ₩ 43 |
Intangible Assets - Summary o_3
Intangible Assets - Summary of Changes In Intangible Assets (Parenthetical) (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Intangible Assets [Abstract] | |||
Impairment loss | ₩ (115) | ₩ (52) | ₩ (623) |
Intangible Assets - Summary o_4
Intangible Assets - Summary of Classification of Amortization in Statements of Comprehensive Income (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Intangible Assets [Line Items] | |||
Amortization | ₩ 1,137 | ₩ 905 | ₩ 868 |
Cost of Revenues | |||
Disclosure Of Intangible Assets [Line Items] | |||
Amortization | 479 | 101 | 251 |
Selling, General and Administrative Expenses | |||
Disclosure Of Intangible Assets [Line Items] | |||
Amortization | 597 | 745 | 581 |
Research and Development | |||
Disclosure Of Intangible Assets [Line Items] | |||
Amortization | ₩ 61 | ₩ 59 | ₩ 36 |
Employee Benefits - Additional
Employee Benefits - Additional Information (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Defined Benefit Plans [Abstract] | |||
Defined contribution plan expenses | ₩ 1,968 | ₩ 1,812 | ₩ 1,546 |
Commitments and Contingent Li_2
Commitments and Contingent Liabilities - Additional Information (Details) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020KRW (₩) | Dec. 31, 2020USD ($) | Dec. 31, 2019KRW (₩) | |
Disclosure Of Contingent Liabilities [Line Items] | |||
Right to develop and distribute games period | 5 years | ||
Purchase obligations | ₩ | ₩ 3,310 | ₩ 868 | |
Kookmin Bank | |||
Disclosure Of Contingent Liabilities [Line Items] | |||
Payment guarantees receivable | $ | $ 912,000 | ||
Bottom of Range | |||
Disclosure Of Contingent Liabilities [Line Items] | |||
Percentage of commitments | 20.00% | ||
Top of Range | |||
Disclosure Of Contingent Liabilities [Line Items] | |||
Percentage of commitments | 40.00% |
Capital - Summary of Common Sha
Capital - Summary of Common Shares (Details) - KRW (₩) | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Classes Of Share Capital [Line Items] | ||
Number of shares issued | 6,948,900 | |
Common shares | ₩ 3,474,000,000 | ₩ 3,474,000,000 |
Common Shares | ||
Disclosure Of Classes Of Share Capital [Line Items] | ||
Number of authorized shares | 40,000,000 | 40,000,000 |
Value per share | ₩ 500 | ₩ 500 |
Number of shares issued | 6,948,900 | 6,948,900 |
Common shares | ₩ 3,474,450,000 | ₩ 3,474,450,000 |
Capital - Summary of Capital Su
Capital - Summary of Capital Surplus (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Classes Of Share Capital [Abstract] | ||
Additional paid in capital | ₩ 25,304 | ₩ 25,322 |
Other capital surplus | 1,806 | 1,806 |
Total | ₩ 27,110 | ₩ 27,128 |
Capital - Summary of Other Comp
Capital - Summary of Other Components of Equity (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Foreign Currency Translation Adjustments | ||
Disclosure Of Accumulated Other Comprehensive Income [Line Items] | ||
Foreign currency translation adjustments | ₩ (1,045) | ₩ 275 |
Capital - Summary of Retained E
Capital - Summary of Retained Earnings (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Subclassifications Of Assets Liabilities And Equities [Abstract] | ||
Retained earnings | ₩ 147,371 | ₩ 84,668 |
Capital - Additional Informatio
Capital - Additional Information (Details) - shares | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Classes Of Share Capital [Line Items] | ||
Number of shares issued | 6,948,900 | |
Preference Shares | ||
Disclosure Of Classes Of Share Capital [Line Items] | ||
Number of shares reserved for issuance | 2,000,000 | |
Number of shares issued | 0 | 0 |
Revenue from Contracts with C_3
Revenue from Contracts with Customers - Details of Revenue from Contracts with Customers based on Service Contract and Timing of Satisfaction of Performance Obligations (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |||
Revenue | ₩ 405,953 | ₩ 360,967 | ₩ 286,770 |
At a Point in Time | |||
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |||
Revenue | 175 | 8 | |
Over Time | |||
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |||
Revenue | 405,953 | 360,792 | 286,762 |
Micro-transaction and Subscription Revenue | |||
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |||
Revenue | 328,070 | 310,006 | 260,888 |
Micro-transaction and Subscription Revenue | Online Game | |||
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |||
Revenue | 76,110 | 30,751 | 25,897 |
Micro-transaction and Subscription Revenue | Mobile Game | |||
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |||
Revenue | 251,960 | 279,255 | 234,991 |
Others | |||
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |||
Revenue | 18,084 | 16,742 | 7,828 |
Royalties and License Fees | |||
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |||
Revenue | 59,799 | 34,219 | 18,054 |
Royalties and License Fees | Online Game | |||
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |||
Revenue | 13,435 | 11,571 | 13,556 |
Royalties and License Fees | Mobile Game | |||
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |||
Revenue | ₩ 46,364 | ₩ 22,648 | ₩ 4,498 |
Revenue from Contracts with C_4
Revenue from Contracts with Customers - Account Receivables, Incremental Costs of Obtaining a Contract, and Contract Liabilities (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Contract Assets And Contract Liabilities Line Item | ||||
Accounts receivables | ₩ 59,761 | ₩ 32,253 | ||
Incremental costs of obtaining a contract (Prepaid expenses) | 1,277 | 998 | ||
Contract liabilities | 13,793 | 10,846 | ₩ 20,074 | ₩ 22,681 |
Micro-transaction and Subscription Revenue | ||||
Contract Assets And Contract Liabilities Line Item | ||||
Contract liabilities | 12,886 | 8,742 | ||
Royalties and License Fees | ||||
Contract Assets And Contract Liabilities Line Item | ||||
Contract liabilities | 307 | 1,403 | ||
Website and Application Development | ||||
Contract Assets And Contract Liabilities Line Item | ||||
Contract liabilities | ₩ 600 | ₩ 701 |
Revenue from Contracts with C_5
Revenue from Contracts with Customers - Changes in Contract Liabilities (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue From Contracts With Customers [Abstract] | |||
Balance at January 1 | ₩ 10,846 | ₩ 20,074 | ₩ 22,681 |
Increase related to micro-transaction and subscription revenue | 29,124 | 66,232 | 12,017 |
Increase related to royalties and license fees | 14,330 | 540 | |
Increase related to website and application development contract | 4,580 | 5,038 | 834 |
Decrease upon satisfaction of performance obligations - micro-transaction and subscription revenue | (24,980) | (69,507) | (12,409) |
Decrease upon satisfaction of performance obligations -royalties and license fees | (15,426) | (5,407) | (3,066) |
Decrease due to termination of contract | (413) | (495) | |
Decrease upon satisfaction of performance obligations | (4,681) | (5,171) | (28) |
Balance at December 31 | ₩ 13,793 | ₩ 10,846 | ₩ 20,074 |
Revenue from Contracts with C_6
Revenue from Contracts with Customers - Additional Information (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Revenue From Contracts With Customers [Line Items] | |||
Amount of revenue recognized from previous period's contract liabilities | ₩ 10,606 | ||
Transaction price allocated to unsatisfied performance obligations | ₩ 13,793 | ₩ 10,846 | ₩ 20,074 |
Within a Year | |||
Disclosure Of Revenue From Contracts With Customers [Line Items] | |||
Transaction price allocated to unsatisfied performance obligations, percentage | 99.30% | ||
Transaction price allocated to unsatisfied performance obligations | ₩ 13,692 | ||
More Than One Year | |||
Disclosure Of Revenue From Contracts With Customers [Line Items] | |||
Transaction price allocated to unsatisfied performance obligations, percentage | 0.70% | ||
Transaction price allocated to unsatisfied performance obligations | ₩ 101 |
Revenue from Contracts with C_7
Revenue from Contracts with Customers - Transaction Price Allocated to Unsatisfied Performance Obligations (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Transaction Price Allocated To Remaining Performance Obligations [Line Items] | |||
Total - Transaction price allocated to unsatisfied performance obligations | ₩ 13,793 | ₩ 10,846 | ₩ 20,074 |
Micro-transaction and Subscription Revenue | |||
Disclosure Of Transaction Price Allocated To Remaining Performance Obligations [Line Items] | |||
Total - Transaction price allocated to unsatisfied performance obligations | 12,886 | 8,742 | 12,017 |
Micro-transaction and Subscription Revenue | Online Game | |||
Disclosure Of Transaction Price Allocated To Remaining Performance Obligations [Line Items] | |||
Total - Transaction price allocated to unsatisfied performance obligations | 8,418 | 5,358 | 6,160 |
Micro-transaction and Subscription Revenue | Mobile Game | |||
Disclosure Of Transaction Price Allocated To Remaining Performance Obligations [Line Items] | |||
Total - Transaction price allocated to unsatisfied performance obligations | 4,468 | 3,384 | 5,857 |
Royalties and License Fees | |||
Disclosure Of Transaction Price Allocated To Remaining Performance Obligations [Line Items] | |||
Total - Transaction price allocated to unsatisfied performance obligations | 307 | 1,403 | 7,223 |
Royalties and License Fees | Online Game | |||
Disclosure Of Transaction Price Allocated To Remaining Performance Obligations [Line Items] | |||
Total - Transaction price allocated to unsatisfied performance obligations | 286 | 573 | 7,203 |
Royalties and License Fees | Mobile Game | |||
Disclosure Of Transaction Price Allocated To Remaining Performance Obligations [Line Items] | |||
Total - Transaction price allocated to unsatisfied performance obligations | 21 | 830 | 20 |
Website and Application Development | |||
Disclosure Of Transaction Price Allocated To Remaining Performance Obligations [Line Items] | |||
Total - Transaction price allocated to unsatisfied performance obligations | ₩ 600 | ₩ 701 | ₩ 834 |
Revenue from Contracts with C_8
Revenue from Contracts with Customers - Details of Incremental Costs of Obtaining Contract Recognized As Assets (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Assets Recognised From Costs To Obtain Or Fulfil Contracts With Customers [Abstract] | ||
Incremental costs of obtaining a contract | ₩ 1,277 | ₩ 998 |
Revenue from Contracts with C_9
Revenue from Contracts with Customers - Details of Amortization Costs Recognized as Cost of Revenues (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Assets Recognised From Costs To Obtain Or Fulfil Contracts With Customers [Abstract] | |||
Amortization costs recognized as cost of revenues | ₩ 998 | ₩ 2,036 | ₩ 2,231 |
Classification of Expenses By_3
Classification of Expenses By Nature - Details of Classification of Expenses By Nature (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Expense By Nature [Abstract] | |||
Advertising expenses | ₩ 30,084 | ₩ 14,948 | ₩ 17,263 |
Fees and commissions | 230,412 | 249,210 | 195,173 |
Lease expenses | 920 | 1,496 | 2,604 |
Outsourcing expenses | 9,500 | 7,875 | 6,176 |
Salaries | 32,340 | 26,935 | 23,137 |
Expenses related to defined contribution plans | 2,030 | 1,807 | 1,546 |
Employee benefits | 3,329 | 3,026 | 2,655 |
Depreciation | 3,783 | 2,748 | 545 |
Amortization | 1,137 | 905 | 868 |
Other expenses | 2,944 | 3,214 | 2,915 |
Total expenses, by nature | ₩ 316,479 | ₩ 312,164 | ₩ 252,882 |
Selling, General and Administ_3
Selling, General and Administrative Expenses - Summary of Selling, General and Administrative Expenses (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Selling General And Administrative Expenses [Line Items] | |||
Advertising expenses | ₩ 30,084 | ₩ 14,948 | ₩ 17,263 |
Fees and commissions | 230,412 | 249,210 | 195,173 |
Lease expenses | 920 | 1,496 | 2,604 |
Salaries | 32,340 | 26,935 | 23,137 |
Expenses related to defined contribution plans | 1,968 | 1,812 | 1,546 |
Employee benefits | 3,329 | 3,026 | 2,655 |
Depreciation | 3,783 | 2,748 | 545 |
Amortization | 1,137 | 905 | 868 |
Other expenses | 2,944 | 3,214 | 2,915 |
Total selling, general and administrative expense | 62,400 | 36,873 | 34,820 |
Selling, General and Administrative Expenses | |||
Disclosure Of Selling General And Administrative Expenses [Line Items] | |||
Advertising expenses | 30,084 | 14,948 | 17,263 |
Fees and commissions | 13,928 | 7,262 | 5,727 |
Lease expenses | 460 | 665 | 941 |
Salaries | 11,761 | 8,643 | 7,080 |
Expenses related to defined contribution plans | 585 | 455 | 387 |
Employee benefits | 1,419 | 1,253 | 1,140 |
Depreciation | 1,424 | 761 | 233 |
Amortization | 597 | 745 | 581 |
Other expenses | 2,142 | 2,141 | 1,468 |
Total selling, general and administrative expense | ₩ 62,400 | ₩ 36,873 | ₩ 34,820 |
Other Income and Expenses - Sum
Other Income and Expenses - Summary of Details of Other Income (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Other Income And Expense [Abstract] | |||
Gain on disposal of property and equipment | ₩ 3 | ₩ 16 | |
Reversal of other bad debt allowances | ₩ 2 | 35 | |
Miscellaneous gain | 656 | 315 | 106 |
Total | ₩ 658 | ₩ 353 | ₩ 122 |
Other Income and Expenses - S_2
Other Income and Expenses - Summary of Details of Other Expense (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Other Income And Expense [Abstract] | |||
Loss on retirement and disposal of property and equipment | ₩ 5 | ||
Impairment loss on intangible assets | ₩ 115 | ₩ 52 | 623 |
Impairment loss on other non-current assets | 1,456 | 434 | |
Donation | 13 | ||
Miscellaneous loss | 180 | 7 | 14 |
Total | ₩ 1,764 | ₩ 493 | ₩ 642 |
Other Income and Expenses - S_3
Other Income and Expenses - Summary of Details of Other Expense (Parenthetical) (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Other Income And Expense [Abstract] | ||
Impairment loss on other non-current assets | ₩ 1,456 | ₩ 434 |
Finance Income And Costs - Summ
Finance Income And Costs - Summary of Finance Income And Cost (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Finance Income And Costs [Line Items] | |||
Finance income | ₩ 3,476 | ₩ 4,187 | ₩ 2,073 |
Finance costs | 3,833 | 1,594 | 1,002 |
Interest Income | |||
Disclosure Of Finance Income And Costs [Line Items] | |||
Finance income | 1,088 | 1,626 | 819 |
Unrealized Foreign Currency Gain | |||
Disclosure Of Finance Income And Costs [Line Items] | |||
Finance income | 321 | 119 | 81 |
Gain on Foreign Currency Transactions | |||
Disclosure Of Finance Income And Costs [Line Items] | |||
Finance income | 2,067 | 2,442 | 1,173 |
Unrealized Foreign Currency Loss | |||
Disclosure Of Finance Income And Costs [Line Items] | |||
Finance costs | 682 | 267 | 99 |
Loss on Foreign Currency Transactions | |||
Disclosure Of Finance Income And Costs [Line Items] | |||
Finance costs | 2,965 | 1,050 | 891 |
Others | |||
Disclosure Of Finance Income And Costs [Line Items] | |||
Finance costs | ₩ 186 | ₩ 277 | ₩ 12 |
Income Tax Expense - Schedule o
Income Tax Expense - Schedule of Income Tax Expense (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Major Components Of Tax Expense Income [Abstract] | |||
Current tax on profit for the year | ₩ 21,383 | ₩ 11,775 | ₩ 7,430 |
Deferred tax expense (benefit) | 4,072 | (249) | (4,377) |
Income tax expense | ₩ 25,455 | ₩ 11,526 | ₩ 3,053 |
Income Tax Expense - Summary of
Income Tax Expense - Summary of Differences Between Tax Expense and Amount Arise Using Statutory Tax Rate Applicable to Profits of Entities (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Reconciliation Of Accounting Profit Multiplied By Applicable Tax Rates [Abstract] | |||
Profit before income tax | ₩ 88,011 | ₩ 51,256 | ₩ 34,439 |
Income tax using the statutory tax rate of each country | 19,828 | 12,063 | 8,994 |
Expenses not deductible for tax purpose | 20 | 42 | 62 |
Foreign tax credits | 3,223 | 4,854 | 5,196 |
Changes in estimates related to prior period | 11 | (4,347) | |
Utilization of previously unrecognized deferred tax asset | (412) | (5,347) | |
Change in deferred tax due to carry-forward deficits | (33) | (6,265) | |
Effect of change of foreign currency exchange rate | (19) | (12) | (221) |
Tax credit | (1,022) | (543) | |
Tax of non-recycled corporation income | 668 | ||
Changes in deferred tax liabilities related to investment in subsidiaries | 2,577 | ||
Others | 581 | (498) | 634 |
Total adjustments | 5,627 | (537) | (5,941) |
Income tax expense | ₩ 25,455 | ₩ 11,526 | ₩ 3,053 |
Effective tax rate | 29.00% | 22.00% | 9.00% |
Income Tax Expense - Schedule_2
Income Tax Expense - Schedule of Changes in Deferred Income Tax Assets (Liabilities) (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Property and Equipment | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Beginning balance | ₩ 7 | ₩ 25 |
Increase (decrease) | 5 | (18) |
Ending balance | 12 | 7 |
Intangible Assets | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Beginning balance | 221 | 238 |
Increase (decrease) | 181 | (17) |
Ending balance | 402 | 221 |
Other Non-current Assets | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Beginning balance | 104 | 8 |
Increase (decrease) | 401 | 96 |
Ending balance | 505 | 104 |
Accounts Payables | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Beginning balance | 1,527 | 531 |
Increase (decrease) | (58) | 996 |
Ending balance | 1,469 | 1,527 |
Accrued Expenses | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Beginning balance | 39 | |
Increase (decrease) | 138 | 39 |
Ending balance | 177 | 39 |
Deferred Revenue | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Beginning balance | 674 | 60 |
Increase (decrease) | (177) | 614 |
Ending balance | 497 | 674 |
Allowance for doubtful account | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Beginning balance | 275 | 264 |
Increase (decrease) | 10 | 11 |
Ending balance | 285 | 275 |
Other Non-current Liabilities | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Beginning balance | 46 | 46 |
Ending balance | 46 | 46 |
Investments in Subsidiaries | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Beginning balance | 389 | |
Increase (decrease) | (389) | 389 |
Ending balance | 389 | |
Lease | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Beginning balance | 1 | |
Increase (decrease) | 7 | 1 |
Ending balance | 8 | 1 |
Foreign Taxes Paid | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Beginning balance | (4) | |
Increase (decrease) | 1 | 4 |
Ending balance | 1 | |
Investments in Subsidiaries(*) | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Increase (decrease) | (2,577) | |
Ending balance | (2,577) | |
Others | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Beginning balance | (25) | (21) |
Increase (decrease) | 67 | (4) |
Ending balance | 42 | (25) |
Deferred Income Tax on Temporary Differences | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Beginning balance | 3,258 | 1,147 |
Increase (decrease) | (2,391) | 2,111 |
Ending balance | 867 | 3,258 |
Deferred Tax Due to Carry-forward Deficits | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Beginning balance | 33 | 1,951 |
Increase (decrease) | (33) | (1,918) |
Ending balance | 33 | |
Deferred Tax Due to Tax Credit Carry-forward | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Beginning balance | 4,371 | 4,315 |
Increase (decrease) | (1,648) | 56 |
Ending balance | 2,723 | 4,371 |
Deferred Tax Assets | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Beginning balance | 7,662 | 7,413 |
Increase (decrease) | (4,072) | 249 |
Ending balance | ₩ 3,590 | ₩ 7,662 |
Income Tax Expense - Schedule_3
Income Tax Expense - Schedule of Changes in Deferred Income Tax Assets (Liabilities) (Parenthetical) (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred tax liabilities | ₩ 5 | |
Investments in Subsidiaries | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred tax liabilities | ₩ 2,577 |
Income Tax Expense - Schedule_4
Income Tax Expense - Schedule of Unused Tax Loss Carryforwards and Unused Tax Credit Carryforwards Not Recognized as Deferred Income Tax Assets (Details) ₩ in Millions | Dec. 31, 2020KRW (₩) |
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |
Unused loss carryforwards | ₩ 10,947 |
Unused tax credit carryforwards | 1,759 |
2023 | |
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |
Unused loss carryforwards | 1,045 |
2024 | |
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |
Unused loss carryforwards | 2,662 |
2025 | |
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |
Unused loss carryforwards | 1,132 |
After 2025 | |
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | |
Unused loss carryforwards | 6,108 |
Unused tax credit carryforwards | ₩ 1,759 |
Income Tax Expense - Additional
Income Tax Expense - Additional Information (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Income Taxes [Abstract] | ||
Temporary difference related to investments in subsidiaries not recognized as deferred tax assets | ₩ 18,489 | ₩ 14,350 |
Temporary differences not recognized as deferred income tax assets | ₩ 751 | ₩ 895 |
Earnings Per Share - Schedule o
Earnings Per Share - Schedule of Components of Basic Earnings Per Share (Details) - KRW (₩) ₩ / shares in Units, ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Basic Earnings Per Share [Abstract] | |||
Profit attributable to owners of the Parent | ₩ 62,703 | ₩ 39,876 | ₩ 31,443 |
Weighted average outstanding shares of common shares | 6,948,900 | 6,948,900 | 6,948,900 |
Basic earnings per share | ₩ 9,023 | ₩ 5,738 | ₩ 4,525 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Details) - shares | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Diluted Earnings Per Share [Abstract] | |||
Weighted average dilutive potential ordinary shares outstanding | 0 | 0 | 0 |
Statements of Cash Flows - Summ
Statements of Cash Flows - Summary of Cash Generated From Operations (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Cash Flow Statement [Abstract] | |||
Profit (loss) for the year | ₩ 62,556 | ₩ 39,730 | ₩ 31,386 |
Depreciation expense | 3,783 | 2,748 | 545 |
Amortization expense | 1,137 | 905 | 868 |
Bad debt expenses | 713 | 281 | 151 |
Unrealized foreign currency loss | 682 | 267 | 99 |
Interest expense | 186 | 277 | |
Loss on retirement and disposal of property and equipment | 5 | ||
Impairment loss on intangible assets | 115 | 52 | 623 |
Impairment loss on other non-current assets | 1,456 | 434 | |
Post-employment benefit expense (Reversal of allowance for retirement benefit) | 62 | (4) | 50 |
Income tax expense | 25,455 | 11,526 | 3,053 |
Unrealized foreign currency gain | (321) | (119) | (81) |
Interest income | (1,088) | (1,626) | (819) |
Gain on disposal of property and equipment | (3) | (16) | |
Reversal of allowance for doubtful accounts | (50) | (34) | |
Gain on disposal of intangible assets | (1) | ||
Change in accounts receivables | (29,116) | 30,143 | (18,573) |
Change in other receivables | 60 | 232 | 406 |
Change in prepaid expenses | (2,134) | 1,981 | 544 |
Change in prepayment | (2,755) | (204) | |
Change in other current assets | 622 | (556) | 192 |
Change in other non-current assets | 2,255 | (1,860) | (1,137) |
Change in accounts payables | 15,510 | (37,145) | 27,319 |
Change in deferred revenue | 3,332 | (9,631) | (2,707) |
Change in withholdings | 1,218 | (397) | 580 |
Change in accrued expenses | 181 | 140 | (7) |
Change in other current liabilities | (1,256) | 113 | (13) |
Change in long-term deferred revenue | 0 | 100 | |
Change in other non-current liabilities | (868) | (463) | |
Change in advance receipt | 434 | ||
Total | ₩ 81,735 | ₩ 37,220 | ₩ 42,571 |
Statements of Cash Flows - Su_2
Statements of Cash Flows - Summary of Significant Non-cash Transactions (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Cash Flow Statement [Abstract] | |||
Reclassification of prepayment to intangible assets | ₩ 72 | ₩ 120 | |
Increase (Decrease) of accounts payables relating to the acquisition of software | 1,144 | 33 | ₩ 226 |
Acquisitions of right-of-use assets | ₩ 3,784 | ₩ 2,637 |
Statements of Cash Flows - Su_3
Statements of Cash Flows - Summary of Changes in Liabilities Arising From Financing Activities (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Cash Flow Statement [Abstract] | ||
Beginning of the year | ₩ 4,994 | ₩ 4,401 |
Cash flows used in financing activities – Payment of lease liabilities | (2,893) | (2,034) |
Interest paid | (186) | (277) |
Non-cash transactions | ||
Acquisitions – leases | 3,784 | 2,637 |
Interest expense | 186 | 277 |
Early termination of leases | (14) | (15) |
Translation difference | 29 | 5 |
Ending of the year | ₩ 5,900 | ₩ 4,994 |
Lease - Additional Information
Lease - Additional Information (Details) | 12 Months Ended |
Dec. 31, 2020 | |
Bottom of Range | |
Lease [Line Items] | |
Lease period | 1 year |
Top of Range | |
Lease [Line Items] | |
Lease period | 5 years |
Lease - Summary of Amounts Rela
Lease - Summary of Amounts Relating to Leases in Consolidated Statements of Financial Position (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Lease [Line Items] | |||
Right-of-use assets | ₩ 5,737 | ₩ 4,946 | ₩ 4,453 |
Lease liabilities | |||
Current | 2,653 | 1,986 | |
Non-current | 3,247 | 3,008 | |
Total | 5,900 | 4,994 | |
Offices | |||
Lease [Line Items] | |||
Right-of-use assets | 3,904 | 3,642 | 2,752 |
Vehicles | |||
Lease [Line Items] | |||
Right-of-use assets | 102 | 266 | 53 |
Others | |||
Lease [Line Items] | |||
Right-of-use assets | ₩ 1,731 | ₩ 1,038 | ₩ 1,648 |
Lease - Summary of Changes in R
Lease - Summary of Changes in Right-of-Use Assets (Detail) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Quantitative Information About Rightofuse Assets [Line Items] | ||
Beginning balance | ₩ 4,946 | ₩ 4,453 |
Depreciation | (2,957) | (2,135) |
Additions | 3,784 | 2,637 |
Removal | (13) | (15) |
Translation differences | (23) | 6 |
Ending balance | 5,737 | 4,946 |
Offices | ||
Disclosure Of Quantitative Information About Rightofuse Assets [Line Items] | ||
Beginning balance | 3,642 | 2,752 |
Depreciation | (1,493) | (901) |
Additions | 1,780 | 1,791 |
Translation differences | (25) | |
Ending balance | 3,904 | 3,642 |
Vehicles | ||
Disclosure Of Quantitative Information About Rightofuse Assets [Line Items] | ||
Beginning balance | 266 | 53 |
Depreciation | (186) | (92) |
Additions | 36 | 320 |
Removal | (13) | (15) |
Translation differences | (1) | |
Ending balance | 102 | 266 |
Others | ||
Disclosure Of Quantitative Information About Rightofuse Assets [Line Items] | ||
Beginning balance | 1,038 | 1,648 |
Depreciation | (1,278) | (1,142) |
Additions | 1,968 | 526 |
Translation differences | 3 | 6 |
Ending balance | ₩ 1,731 | ₩ 1,038 |
Lease - Summary of Amounts Reco
Lease - Summary of Amounts Recognized in Consolidated Statements of Profit or Loss (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Presentation Of Leases For Lessee [Abstract] | ||
Interest expense relating to lease liabilities (included in finance cost) | ₩ 186 | ₩ 277 |
Expense relating to short-term leases | 123 | 322 |
Expense relating to leases of low-value assets that are not short-term leases | ₩ 9 | ₩ 10 |
Lease - Summary of Amounts Re_2
Lease - Summary of Amounts Relating to Leases in Consolidated Statements of Profit or Loss (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Presentation Of Leases For Lessee [Abstract] | ||
Total cash outflows of leases | ₩ 3,210 | ₩ 2,644 |
Financial Risk Management - Sch
Financial Risk Management - Schedule of Company's Debt to Equity Ratio (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Financial Instruments [Abstract] | ||||
Total liabilities | ₩ 88,024 | ₩ 59,659 | ||
Total equity | ₩ 177,348 | ₩ 115,766 | ₩ 75,552 | ₩ 43,998 |
Debt-to-equity ratio | 50.00% | 52.00% |
Financial Risk Management - S_2
Financial Risk Management - Schedule of Financial Assets and Liabilities Exposed in Foreign Currency Risk (Details) € in Millions, ₫ in Millions, ₩ in Millions, ฿ in Millions, ¥ in Millions, £ in Millions, Rp in Millions, $ in Millions, $ in Millions, $ in Millions | Dec. 31, 2020KRW (₩) | Dec. 31, 2020USD ($) | Dec. 31, 2020JPY (¥) | Dec. 31, 2020EUR (€) | Dec. 31, 2020IDR (Rp) | Dec. 31, 2020THB (฿) | Dec. 31, 2020TWD ($) | Dec. 31, 2020VND (₫) | Dec. 31, 2019KRW (₩) | Dec. 31, 2019USD ($) | Dec. 31, 2019JPY (¥) | Dec. 31, 2019EUR (€) | Dec. 31, 2019IDR (Rp) | Dec. 31, 2019THB (฿) | Dec. 31, 2019TWD ($) | Dec. 31, 2019VND (₫) | Dec. 31, 2019GBP (£) | Dec. 31, 2019HKD ($) |
Disclosure Of Financial Instruments [Line Items] | ||||||||||||||||||
Financial assets | ₩ | ₩ 40,413 | ₩ 15,878 | ||||||||||||||||
Financial liabilities | ₩ | 19,329 | 10,542 | ||||||||||||||||
USD | ||||||||||||||||||
Disclosure Of Financial Instruments [Line Items] | ||||||||||||||||||
Financial assets | 31,775 | $ 29,204,905 | 9,403 | $ 8,100,729 | ||||||||||||||
Financial liabilities | 17,099 | $ 15,715,800 | 6,696 | $ 5,775,721 | ||||||||||||||
JPY | ||||||||||||||||||
Disclosure Of Financial Instruments [Line Items] | ||||||||||||||||||
Financial assets | 4,099 | ¥ 388,760,925 | 4,854 | ¥ 456,300,430 | ||||||||||||||
Financial liabilities | 2,092 | ¥ 198,432,867 | 3,621 | ¥ 340,468,613 | ||||||||||||||
EUR | ||||||||||||||||||
Disclosure Of Financial Instruments [Line Items] | ||||||||||||||||||
Financial assets | 461 | € 344,842 | 439 | € 338,598 | ||||||||||||||
Financial liabilities | 11 | € 8,399 | 1 | € 1,000 | ||||||||||||||
IDR | ||||||||||||||||||
Disclosure Of Financial Instruments [Line Items] | ||||||||||||||||||
Financial assets | 1 | Rp 12,955,000 | 1 | Rp 12,955,000 | ||||||||||||||
Financial liabilities | 1 | Rp 15,289,944 | 1 | Rp 17,023,944 | ||||||||||||||
THB | ||||||||||||||||||
Disclosure Of Financial Instruments [Line Items] | ||||||||||||||||||
Financial assets | 1 | ฿ 28,510 | 1 | ฿ 28,510 | ||||||||||||||
Financial liabilities | ฿ | ฿ 7,379 | ฿ 7,379 | ||||||||||||||||
TWD | ||||||||||||||||||
Disclosure Of Financial Instruments [Line Items] | ||||||||||||||||||
Financial assets | 4,076 | $ 105,408,193 | 1,125 | $ 29,236,669 | ||||||||||||||
Financial liabilities | ₩ 126 | $ 3,264,754 | 214 | $ 5,567,672 | ||||||||||||||
VND | ||||||||||||||||||
Disclosure Of Financial Instruments [Line Items] | ||||||||||||||||||
Financial assets | ₫ | ₫ 9,270,000 | ₫ 9,270,000 | ||||||||||||||||
Financial liabilities | ₫ | ₫ 3,243,600 | ₫ 3,243,600 | ||||||||||||||||
GBP | ||||||||||||||||||
Disclosure Of Financial Instruments [Line Items] | ||||||||||||||||||
Financial liabilities | 9 | £ 5,625 | ||||||||||||||||
HKD | ||||||||||||||||||
Disclosure Of Financial Instruments [Line Items] | ||||||||||||||||||
Financial assets | ₩ 55 | $ 368,048 |
Financial Risk Management - Add
Financial Risk Management - Additional Information (Details) - KRW (₩) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets | ₩ 40,413,000,000 | ₩ 15,878,000,000 |
Financial liabilities | 19,329,000,000 | 10,542,000,000 |
Variable Interest Rate | ||
Disclosure Of Financial Instruments [Line Items] | ||
Borrowings | ₩ 0 | ₩ 0 |
Currency Risk | ||
Disclosure Of Financial Instruments [Line Items] | ||
Foreign exchange risk movement in currency percentage | 10.00% | |
Price Risk | ||
Disclosure Of Financial Instruments [Line Items] | ||
Financial assets | ₩ 0 | |
Financial liabilities | ₩ 0 |
Financial Risk Management - Sum
Financial Risk Management - Summary of Impact of Fluctuation in Foreign Currency Exchange Rates on Group's Monetary Assets and Liabilities (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Financial Instruments [Line Items] | ||
Increase in company's monetary assets and liabilities with the effect of foreign currency exchange rate | ₩ 2,109 | ₩ 534 |
Decrease in company's monetary assets and liabilities with the effect of foreign currency exchange rate | (2,109) | (534) |
USD | ||
Disclosure Of Financial Instruments [Line Items] | ||
Increase in company's monetary assets and liabilities with the effect of foreign currency exchange rate | 1,468 | 271 |
Decrease in company's monetary assets and liabilities with the effect of foreign currency exchange rate | (1,468) | (271) |
JPY | ||
Disclosure Of Financial Instruments [Line Items] | ||
Increase in company's monetary assets and liabilities with the effect of foreign currency exchange rate | 201 | 123 |
Decrease in company's monetary assets and liabilities with the effect of foreign currency exchange rate | (201) | (123) |
Others | ||
Disclosure Of Financial Instruments [Line Items] | ||
Increase in company's monetary assets and liabilities with the effect of foreign currency exchange rate | 440 | 140 |
Decrease in company's monetary assets and liabilities with the effect of foreign currency exchange rate | ₩ (440) | ₩ (140) |
Financial Risk Management - S_3
Financial Risk Management - Summary of Maximum Exposure to Credit Risk (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum exposure to credit risk | ₩ 243,543 | ₩ 153,240 |
Cash and Cash Equivalents | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum exposure to credit risk | 110,632 | 79,428 |
Short Term Financial Instruments | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum exposure to credit risk | 71,000 | 39,500 |
Accounts Receivables | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum exposure to credit risk | 59,761 | 32,253 |
Other Receivables | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum exposure to credit risk | 8 | 56 |
Other Current Financial Assets | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum exposure to credit risk | 818 | 233 |
Other Non-current Financial Assets | ||
Disclosure Of Credit Risk Exposure [Line Items] | ||
Maximum exposure to credit risk | ₩ 1,324 | ₩ 1,770 |
Financial Risk Management - S_4
Financial Risk Management - Summary of Financial Liabilities by Maturity (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Other payable | ₩ 60,547 | ₩ 44,352 |
Accounts Payable | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Other payable | 54,090 | 37,689 |
Accrued Expenses | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Other payable | 62 | 1,175 |
Other Liabilities | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Other payable | 6,395 | 5,488 |
Less Than Three months | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Other payable | 44,312 | 23,147 |
Less Than Three months | Accounts Payable | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Other payable | 43,438 | 21,374 |
Less Than Three months | Accrued Expenses | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Other payable | 62 | 1,175 |
Less Than Three months | Other Liabilities | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Other payable | 812 | 598 |
Carrying amount [member] | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Other payable | 60,052 | 43,858 |
Carrying amount [member] | Accounts Payable | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Other payable | 54,090 | 37,689 |
Carrying amount [member] | Accrued Expenses | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Other payable | 62 | 1,175 |
Carrying amount [member] | Other Liabilities | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Other payable | 5,900 | 4,994 |
Three Months to One Year | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Other payable | 11,357 | 17,775 |
Three Months to One Year | Accounts Payable | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Other payable | 9,250 | 16,122 |
Three Months to One Year | Other Liabilities | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Other payable | 2,107 | 1,653 |
One Year to Two Year | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Other payable | 3,548 | 1,973 |
One Year to Two Year | Accounts Payable | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Other payable | 1,402 | 193 |
One Year to Two Year | Other Liabilities | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Other payable | 2,146 | 1,780 |
Two Year to Three Year | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Other payable | 597 | 1,029 |
Two Year to Three Year | Other Liabilities | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Other payable | 597 | 1,029 |
Three Year to Five Year | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Other payable | 733 | 428 |
Three Year to Five Year | Other Liabilities | ||
Disclosure Of Maturity Analysis For Financial Assets Held For Managing Liquidity Risk [Line Items] | ||
Other payable | ₩ 733 | ₩ 428 |
Segment Information - Summary o
Segment Information - Summary of Segment Information (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Operating Segments [Line Items] | |||
Revenue | ₩ 405,953 | ₩ 360,967 | ₩ 286,770 |
Depreciation amortization | 4,920 | 3,653 | 1,414 |
Operating profit | 88,368 | 48,663 | 33,368 |
Operating Segments | |||
Disclosure Of Operating Segments [Line Items] | |||
Revenue | 466,608 | 414,412 | 308,178 |
Depreciation amortization | 4,920 | 3,653 | 1,426 |
Operating profit | 88,118 | 46,971 | 30,167 |
Operating Segments | Online | |||
Disclosure Of Operating Segments [Line Items] | |||
Revenue | 107,949 | 48,182 | 41,288 |
Depreciation amortization | 1,609 | 1,401 | 238 |
Operating profit | 45,115 | 7,754 | 4,286 |
Operating Segments | Mobile | |||
Disclosure Of Operating Segments [Line Items] | |||
Revenue | 336,326 | 346,878 | 257,364 |
Depreciation amortization | 1,823 | 1,145 | 473 |
Operating profit | 42,493 | 38,655 | 24,795 |
Operating Segments | Others | |||
Disclosure Of Operating Segments [Line Items] | |||
Revenue | 22,333 | 19,352 | 9,526 |
Depreciation amortization | 1,488 | 1,107 | 715 |
Operating profit | 510 | 562 | 1,086 |
Elimination of intersegment amounts [member] | |||
Disclosure Of Operating Segments [Line Items] | |||
Revenue | (60,655) | (53,445) | (21,408) |
Depreciation amortization | (12) | ||
Operating profit | ₩ 250 | ₩ 1,692 | ₩ 3,201 |
Segment Information - Summary R
Segment Information - Summary Revenue from External Customers by Country (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Geographical Areas [Line Items] | |||
Revenue | ₩ 405,953 | ₩ 360,967 | ₩ 286,770 |
Korea | |||
Disclosure Of Geographical Areas [Line Items] | |||
Revenue | 109,895 | 45,273 | 80,814 |
Taiwan | |||
Disclosure Of Geographical Areas [Line Items] | |||
Revenue | 100,049 | 52,118 | 98,210 |
Japan | |||
Disclosure Of Geographical Areas [Line Items] | |||
Revenue | 22,500 | 28,469 | 9,767 |
The United States of America | |||
Disclosure Of Geographical Areas [Line Items] | |||
Revenue | 20,659 | 55,062 | 10,572 |
Thailand | |||
Disclosure Of Geographical Areas [Line Items] | |||
Revenue | 59,086 | 62,043 | 43,846 |
The Philippines | |||
Disclosure Of Geographical Areas [Line Items] | |||
Revenue | 23,690 | 30,951 | 15,539 |
Others | |||
Disclosure Of Geographical Areas [Line Items] | |||
Revenue | 57,345 | 64,696 | 18,663 |
IDAHO | |||
Disclosure Of Geographical Areas [Line Items] | |||
Revenue | ₩ 12,729 | ₩ 22,355 | ₩ 9,359 |
Segment Information - Summary_2
Segment Information - Summary of Non-Current Assets by Geographical Regions (Details) - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Geographical Areas [Line Items] | |||
Non-current assets | ₩ 13,093 | ₩ 9,902 | ₩ 4,099 |
Domestic | |||
Disclosure Of Geographical Areas [Line Items] | |||
Non-current assets | 7,612 | 5,732 | 3,054 |
Overseas | |||
Disclosure Of Geographical Areas [Line Items] | |||
Non-current assets | ₩ 5,481 | ₩ 4,170 | ₩ 1,045 |
Segment Information - Additiona
Segment Information - Additional Information (Details) - Customer | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Operating Segments [Line Items] | |||
Number of external customers | 0 | 0 | 0 |
Top of Range | |||
Disclosure Of Operating Segments [Line Items] | |||
Percentage of consolidated sales to external customers | 10.00% | 10.00% | 10.00% |
Transactions with Related Par_3
Transactions with Related Parties - Additional Information (Details) - Transaction | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Transactions Between Related Parties [Line Items] | |||
Parent entity | GungHo Online Entertainment, Inc. | ||
Number of related party transactions | 0 | 0 | 0 |
GungHo Online Entertainment, Inc [Member] | |||
Disclosure Of Transactions Between Related Parties [Line Items] | |||
Percentage of ownership held by related party | 59.31% |
Transactions with Related Par_4
Transactions with Related Parties - Summary of Account Balances with Related Parties (Details) - GungHo Online Entertainment, Inc [Member] - KRW (₩) ₩ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Receivable | ₩ 2,547 | ₩ 2,722 |
Payable | ₩ 5 | ₩ 74 |
Transactions with Related Par_5
Transactions with Related Parties - Summary of Transactions with Related Parties (Details) - GungHo Online Entertainment, Inc [Member] - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Transactions Between Related Parties [Line Items] | |||
Sales | ₩ 21,833 | ₩ 27,484 | ₩ 10,516 |
Purchase | ₩ 211 | ₩ 60 | ₩ 3 |
Transactions with Related Par_6
Transactions with Related Parties - Summary of Key Management Personnel Compensation (Details) - KRW (₩) ₩ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Related Party Transactions [Abstract] | |||
Salary | ₩ 1,177 | ₩ 866 | ₩ 690 |