Hyundai card 2016_2_q_consolidated_final

HYUNDAI CARD CO., LTD. AND ITS
SUBSIDIARIES
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
AS OF JUNE 30, 2016, AND DECEMBER 31, 2015,
AND FOR THE THREE MONTHS AND SIX MONTHS ENDED JUNE 30,
2016 AND 2015
ATTACHMENT: INDEPENDENT ACCOUNTANTS’ REVIEW REPORT
HYUNDAI CARD CO., LTD.

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Independent Accountants’ Review Report
English Translation of a Report Originally Issued in Korean on August 12, 2016
To the Shareholders and Board of Directors of
Hyundai Card Co., Ltd.:
We have reviewed the accompanying condensed consolidated financial statements of Hyundai Card Co., Ltd. and its
subsidiaries (collectively, the “Consolidated Entity”). The condensed consolidated financial statements consist of the
condensed consolidated statements of financial position as of June 30, 2016, and the related condensed consolidated
statements of comprehensive income for the three months and six months ended June 30, 2016 and 2015, the related
condensed consolidated statements of changes in shareholders’ equity and the related condensed consolidated
statements of cash flows for the six months ended June 30, 2016 and 2015, all expressed in Korean won, and a
summary of significant accounting policies and other explanatory information.
Management’s responsibility for the condensed consolidated financial statements
The Consolidated Entity’s management is responsible for the preparation and fair presentation of the accompanying
condensed consolidated financial statements and for such internal control as management determines is necessary to
enable the preparation of condensed consolidated financial statements that are free from material misstatement,
whether due to fraud or error.
Independent accountants’ responsibility
Our responsibility is to express a conclusion on the accompanying condensed consolidated financial statements
based on our reviews.
We conducted our reviews in accordance with standards for review of interim financial statements in the Republic
of Korea. A review is limited primarily to inquiries of company personnel and analytical procedures applied to
financial data, and this provides less assurance than an audit. We have not performed an audit, and accordingly, we
do not express an audit opinion.
Review conclusion
Based on our reviews, nothing has come to our attention that causes us to believe that the accompanying
condensed consolidated financial statements of the Consolidated Entity are not presented fairly, in all material
respects, in accordance with Korean International Financial Reporting Standards (“K-IFRS”) 1034, Interim
Financial Reporting.

Others
We audited the consolidated statement of financial position as of December 31, 2015, and the related consolidated
statement of comprehensive income, consolidated statement of changes in shareholders’ equity and consolidated
statement of cash flows for the year ended December 31, 2015 (not presented in the accompanying condensed
consolidated financial statements), all expressed in Korean won, in accordance with auditing standards generally
accepted in the Republic of Korea. We expressed an unqualified opinion on those consolidated financial statements
in our independent auditors’ report dated March 9, 2016. The consolidated statement of financial position as of
December 31, 2015, presented for comparative purpose in the accompanying condensed consolidated financial
statements, does not differ, in all material respects, from the audited consolidated statement of financial position as
of December 31, 2015.
August 12, 2016
Notice to Readers
This report is effective as of August 12, 2016, the accountants’ review report date. Certain subsequent events or
circumstances may have occurred between the accountants’ review report date and the time the accountants’ review
report is read. Such events or circumstances could significantly affect the condensed consolidated financial
statements and may result in modifications to the accountants’ review report.

HYUNDAI CARD CO., LTD. AND ITS SUBSIDIARIES
(the “Consolidated Entity”)
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
AS OF JUNE 30, 2016, AND DECEMBER 31, 2015,
AND FOR THE THREE MONTHS AND SIX MONTHS ENDED JUNE 30,
2016 AND 2015
The accompanying condensed consolidated financial statements, including all footnote disclosures, were
prepared by, and are the responsibility of, the management of the Consolidated Entity.
Chung, Tae Young
Chief Executive Officer
Hyundai Card Co., Ltd.

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
AS OF JUNE 30, 2016, AND DECEMBER 31, 2015
(Unit: Korean won)
June 30, 2016 December 31, 2015
ASSETS:
CASH AND DEPOSITS (Notes 4 and 28):
Cash and cash equivalents (Note 23) ￦ 632,008,532,147 ￦ 505,742,520,609
Deposits 47,424,500,000 33,024,500,000
Total cash and deposits 679,433,032,147 538,767,020,609
SECURITIES (Notes 5 and 28):
Trading securities 804,337,938,006 459,928,214,247
Available-for-sale (“AFS”) securities 1,766,969,764 1,766,969,764
Total securities 806,104,907,770 461,695,184,011
CARD ASSETS (Notes 6, 7, 25 and 28):
Card receivables, net of present value of discounts and
deferred origination cost and fee 7,447,657,620,879 7,595,851,307,370
Allowance for doubtful accounts (79,844,412,173) (76,701,420,249)
Cash advances 851,402,427,538 827,002,888,065
Card loans, net of present value of discounts 3,222,347,418,026 3,239,218,653,922
Total card assets 11,254,358,855,134 11,406,586,971,982
PROPERTY, PLANT AND EQUIPMENT (Note 8):
Land 141,135,593,407 141,135,593,407
Buildings 120,401,235,857 120,401,235,857
Accumulated depreciation (13,199,460,626) (11,684,533,184)
Vehicles 2,514,088,391 2,514,088,391
Accumulated depreciation (346,729,982) (254,093,084)
Fixtures and equipment 213,453,956,011 210,311,409,618
Accumulated depreciation (138,593,285,181) (125,909,014,419)
Construction in progress 24,721,936,728 14,089,134,359
Total property, plant and equipment 350,087,334,605 350,603,820,945
OTHER ASSETS:
Other accounts receivable (Note 28) 93,814,027,905 94,824,687,899
Allowance for doubtful accounts (Notes 7 and 28) (838,079,692) (852,423,113)
Accrued revenue (Note 28) 48,401,502,073 49,401,668,393
Allowance for doubtful accounts (Notes 7 and 28) (1,384,858,374) (1,393,512,524)
Advance payments 30,332,656,707 34,200,440,607
Allowance for doubtful accounts (Note 7) (1,751,262,685) (967,357,411)
Prepaid expenses 64,567,622,719 54,889,008,962
Intangible assets (Note 9) 123,539,381,832 137,084,511,938
Derivative assets (Notes 13, 27 and 28) 30,840,987,130 39,584,012,967
Deferred income tax assets (Note 20) 151,395,796,395 150,197,163,343
Guarantee deposits (Notes 4 and 28) 33,030,396,698 32,466,788,202
Others 9,220,186,257 4,350,236,590
Total other assets 581,168,356,965 593,785,225,853
Total Assets ￦ 13,671,152,486,621 ￦13,351,438,223,400
(Continued)

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (CONTINUED)
AS OF JUNE 30, 2016, AND DECEMBER 31, 2015
(Unit: Korean won)
June 30, 2016 December 31, 2015
LIABILITIES:
BORROWINGS (Notes 10 and 28):
Borrowings ￦ 1,015,000,000,000 ￦ 590,000,000,000
Debenture, net of discounts 8,329,926,977,211 8,527,883,918,633
Total borrowings 9,344,926,977,211 9,117,883,918,633
OTHER LIABILITIES:
Accounts payable (Notes 25 and 28) 902,257,864,445 889,947,477,880
Accrued expenses (Note 28) 214,724,902,436 229,197,257,098
Unearned revenue 335,558,894,810 340,303,443,944
Withholdings (Note 28) 101,767,293,397 109,477,500,291
Derivative liabilities (Notes 13, 27 and 28) 21,550,740,631 17,743,551,531
Current tax liability 30,584,856,318 24,105,439,403
Net defined benefit liability (Note 11) 32,734,773,467 23,606,248,668
Guarantee deposits received (Note 28) 10,040,023,829 9,081,139,097
Provisions (Notes 12 and 24) 94,715,920,519 96,060,138,730
Total other liabilities 1,743,935,269,852 1,739,522,196,642
Total liabilities 11,088,862,247,063 10,857,406,115,275
SHAREHOLDERS’ EQUITY:
Capital stock 802,326,430,000 802,326,430,000
Capital surplus 57,704,443,955 57,704,443,955
Accumulated other comprehensive loss (Note 22) (45,004,296,846) (38,384,103,955)
Retained earnings (Notes 14 and 15) 1,767,263,662,449 1,672,385,338,125
Total shareholders’ equity 2,582,290,239,558 2,494,032,108,125
Total Liabilities and Shareholders’ Equity ￦ 13,671,152,486,621 ￦13,351,438,223,400
(Concluded)
See accompanying notes to condensed consolidated financial statements.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
FOR THE THREE MONTHS AND SIX MONTHS ENDED JUNE 30, 2016 AND 2015
(Unit: Korean won)
2016 2015
Three months
ended June 30
Six months
ended June 30
Three months
ended June 30
Six months
ended June 30
OPERATING REVENUE:
Card income (Notes 17 and 25) ￦ 650,566,253,405 ￦ 1,304,185,808,391 ￦ 621,298,977,061 ￦ 1,242,127,875,223
Interest income (Note 16) 4,747,246,118 10,006,201,937 4,583,049,323 10,875,934,226
Gain on valuation and disposal of securities 978,617,283 2,044,321,853 362,255,755 581,393,022
Dividends income 30,000,000 166,053,244 - 146,989,275
Other operating revenue (Note 18) 7,039,154,558 32,317,270,249 19,492,740,008 33,405,419,759
Total operating revenue 663,361,271,364 1,348,719,655,674 645,737,022,147 1,287,137,611,505
OPERATING EXPENSES:
Card expenses (Notes 17 and 25) 306,254,316,418 608,934,659,295 273,244,263,553 529,261,124,964
Interest expenses (Note 16) 64,217,919,175 131,011,459,474 68,601,626,541 140,825,077,623
General and administrative expenses (Notes 19 and 25) 172,420,819,228 334,074,088,809 169,717,352,969 332,686,668,022
Securitization expenses 116,272,852 235,283,760 99,287,436 180,349,207
Bad debt expenses and losses on disposal of loans
(Note 7) 62,278,852,201 120,894,714,282 50,509,314,482 105,949,055,202
Transfer to provision for unused credit limits (Note 12) 1,268,077,773 2,723,304,562 476,442,008 1,219,576,870
Other operating expenses (Note 18) 4,386,698,678 25,184,059,428 18,652,342,153 31,954,362,562
Total operating expenses 610,942,956,325 1,223,057,569,610 581,300,629,142 1,142,076,214,450
OPERATING INCOME 52,418,315,039 125,662,086,064 64,436,393,005 145,061,397,055
NON-OPERATING INCOME:
Gain from sale of property, plant and equipment and
intangible assets 61,351,754 163,937,614 9,012,873 28,818,303
Rental revenue (Note 25) 626,640,056 1,006,072,601 403,305,118 780,985,962
Miscellaneous gain 72,367,076 143,498,414 70,148,064 131,333,388
Total non-operating income 760,358,886 1,313,508,629 482,466,055 941,137,653
NON-OPERATING EXPENSES:
Donations 414,504,118 1,076,160,113 537,176,650 704,978,650
Loss from sale of property, plant and equipment and
intangible assets 124,343,151 190,767,674 51,505,049 1,260,030,580
Total non-operation expenses 538,847,269 1,266,927,787 588,681,699 1,965,009,230
NET INCOME BEFORE INCOME TAX EXPENSE 52,639,826,656 125,708,666,906 64,330,177,361 144,037,525,478
INCOME TAX EXPENSE (Note 20) 11,345,201,794 30,830,342,582 15,670,628,458 33,210,655,865
NET INCOME ￦ 41,294,624,862 ￦ 94,878,324,324 ￦ 48,659,548,903 ￦ 110,826,869,613
(Continued)

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (CONTINUED)
(Unit: Korean won)
2016 2015
Three months
ended June 30
Six months
ended June 30
Three months
ended June 30
Six months
ended June 30
OTHER COMPREHENSIVE INCOME (LOSS),
NET OF TAX (Note 22)
Items not reclassified subsequently to profit or loss ￦ 1,681,667,497 ￦ (864,795,423) ￦ 265,991,145 ￦ (2,980,306,936)
Remeasurements of net defined benefit liability 1,681,667,497 (864,795,423) 265,991,145 (2,980,306,936)
Items reclassified subsequently to profit or loss (2,746,189,889) (5,755,397,468) 2,651,137,369 (1,526,057,880)
Cash flow hedging income (loss) (2,746,189,889) (5,755,397,468) 2,651,137,369 (1,526,057,880)
Total other comprehensive income (loss) (1,064,522,392) (6,620,192,891) 2,917,128,514 (4,506,364,816)
TOTAL COMPREHENSIVE INCOME ￦ 40,230,102,470 ￦ 88,258,131,433 ￦ 51,576,677,417 ￦ 106,320,504,797
EARNINGS PER SHARE (Note 21)
Basic earnings per share ￦ 257 ￦ 591 ￦ 303 ￦ 691
Diluted earnings per share ￦ 257 ￦ 591 ￦ 303 ￦ 691
(Concluded)

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
FOR THE SIX MONTHS ENDED JUNE 30, 2016 AND 2015
(Unit: Korean won)
Capital surplus
Capital stock Paid-up capital
Other
capital
Accumulated other
comprehensive
loss
Retained
earnings Total
Balance at January 1, 2015 ￦ 802,326,430,000 ￦ 45,399,364,539 ￦ 12,305,079,416 ￦ (40,118,183,826) ￦ 1,735,468,135,715 ￦2,555,380,825,844
Total comprehensive income
(loss):
Net income - - - - 110,826,869,613 110,826,869,613
Other comprehensive loss:
Remeasurements of
netdefined benefit
liability - - - (2,980,306,936) - (2,980,306,936)
Cash flow hedging loss - - - (1,526,057,880) - (1,526,057,880)
Balance at June 30, 2015 ￦ 802,326,430,000 ￦ 45,399,364,539 ￦ 12,305,079,416 ￦ (44,624,548,642) ￦1,846,295,005,328 ￦2,661,701,330,641
Balance at January 1, 2016 ￦ 802,326,430,000 ￦ 45,399,364,539 ￦ 12,305,079,416 ￦ (38,384,103,955) ￦ 1,672,385,338,125 ￦ 2,494,032,108,125
Total comprehensive income
(loss):
Net income - - - - 94,878,324,324 94,878,324,324
Other comprehensive loss:
Remeasurements of net
defined benefit liability - - - (864,795,423) - (864,795,423)
Cash flow hedging loss - - - (5,755,397,468) - (5,755,397,468)
Balance at June 30, 2016 ￦ 802,326,430,000 ￦ 45,399,364,539 ￦12,305,079,416 ￦ (45,004,296,846) ￦ 1,767,263,662,449 ￦ 2,582,290,239,558

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE SIX MONTHS ENDED JUNE 30, 2016 AND 2015
(Unit: Korean won)
Six months ended
June 30, 2016
Six months ended
June 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash generated from operating activities (Note 23) ￦ 83,292,345,316 ￦ 872,040,177,727
Interests received 9,639,392,450 10,643,721,137
Interests paid (142,949,542,751) (129,372,506,333)
Dividends received 166,053,244 146,989,275
Income taxes paid (23,576,217,080) (42,756,320,587)
Net cash (used in) provided by operating activities (73,427,968,821) 710,702,061,219
CASH FLOWS FROM INVESTING ACTIVITIES:
Disposal of AFS securities 16,215,800 114,829,850
Disposal of property, plant and equipment 208,157,254 45,361,000
Disposal of intangible assets 585,000,000 -
Acquisition of property, plant and equipment (18,592,607,253) (26,094,553,551)
Acquisition of intangible assets (7,770,059,214) (10,035,220,856)
Net cash used in investing activities (25,553,293,413) (35,969,583,557)
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase in borrowings 695,000,000,000 70,000,000,000
Proceeds from issue of debentures 9,768,247,273,772 5,436,270,704,124
Repayment of borrowings (270,000,000,000) (70,000,000,000)
Repayment of debentures (9,968,000,000,000) (5,871,400,000,732)
Net cash provided by (used in) financing activities 225,247,273,772 (435,129,296,608)
NET INCREASE IN CASH AND CASH EQUIVALENTS 126,266,011,538 239,603,181,054
CASH AND CASH EQUIVALENTS AT THE
BEGINNING OF THE PERIOD (Note 23) 505,742,520,609 167,697,056,564
CASH AND CASH EQUIVALENTS AT THE
END OF THE PERIOD (Note 23) ￦ 632,008,532,147 ￦ 407,300,237,618

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
AS OF JUNE 30, 2016, AND DECEMBER 31, 2015, AND
1. REPORTING ENTITY:
Hyundai Card Co., Ltd. (the “Company” or the “Consolidated Entity”), which is a controlling company in
accordance with Korean International Financial Reporting Standards (“K-IFRS”) 1110, Consolidated Financial
Statements, is engaged in the credit card business under the Specialized Credit Financial Business Law of
Korea, with its headquarters located at 3, Uisadang-daero, Yeongdeungpo-gu, Seoul. On June 15, 1995, the
Company acquired the credit card business of Korea Credit Circulation Co., Ltd., and on June 16, 1995, the
Korean government granted permission to the Company to engage in the credit card business. The Company
operates its business under the Specialized Credit Financial Business Act and other relevant applicable
regulations.
As of June 30, 2016, the Company has approximately 6.45 million card members; 2.33 million registered
merchants; and 122 marketing centers, branches and posts.
As of June 30, 2016, the total common stock of the Company is ￦802,326 million. The shareholders of the
Company and its ownerships as of June 30, 2016, and December 31, 2015, are as follows:
Shareholders
June 30, 2016 December 31, 2015
Number of shares
Percentage of
ownership Number of shares
Percentage of
ownership
Hyundai Motor Co., Ltd. 59,301,937 36.96 59,301,937 36.96
Kia Motors Co., Ltd. 18,422,142 11.48 18,422,142 11.48
IGE USA Investments 69,000,073 43.00 69,000,073 43.00
Hyundai Commercial Inc. 8,889,622 5.54 8,889,622 5.54
Others 4,851,512 3.02 4,851,512 3.02
Total 160,465,286 100.00 160,465,286 100.00
(1) Details of the Company’s subsidiaries as of June 30, 2016, and December 31, 2015, are as follows:
Place of
incorporation
and operation
Voting share (%)
Entities Major operation June 30, 2016 December 31, 2015
End of
reporting
period
PRIVIA 4th SPC Asset securitization Korea 0.5 0.5 December
PRIVIA 5th SPC Asset securitization Korea 0.5 0.5 December
Super Series 1st SPC Asset securitization Korea 0.5 0.5 December
Super Series 2nd SPC Asset securitization Korea 0.5 - December
17 Money Market
Trusts Trust business Korea 100 100 -
The subsidiaries above are structured companies as voting rights and other powers do not play a major role in
determining the controlling interest.
Except for Money Market Trust, the subsidiaries were established for the Consolidated Entity’s business
activity. The Parent, the Consolidated Entity, has the power over the subsidiaries due to the fact that it involves
in the objectives and design of the subsidiaries and is exposed to risks and rewards. Also, all the decision-
making processes of the subsidiaries are operated on autopilot by provisions and articles of association. The
Parent is considered to have the ability to use power because it has control over the changes in provisions and
articles of association. Therefore, the Parent includes the special-purpose entities under consolidation.
Meanwhile, in case default occurs by the subsidiaries related to derivative contracts hedging risks arising from
debentures issued for asset securitization, counterparties of the derivative contracts can claim for
reimbursement from the Parent.

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2. BASIS OF CONDENSED CONSOLIDATED FINANCIAL STATEMENTS PREPARATION AND
SIGNIFICANT ACCOUNTING POLICIES:
(1) Basis of condensed consolidated financial statements preparation
The Consolidated Entity’s condensed consolidated financial statements for the six months ended June 30, 2016
and 2015, are prepared in accordance with K-IFRS 1034, Interim Financial Reporting. It is necessary to use the
annual consolidated financial statements as of and for the year ended December 31, 2015, for the understanding
of the accompanying interim consolidated financial statements.
The Consolidated Entity’s accounting policies applied for the accompanying condensed interim consolidated
financial statements are the same as the policies applied for the preparation of consolidated financial statements
as of and for the year ended December 31, 2015, except for the effects from the introduction of new and revised
accounting standards or interpretations as described below.
1) The Consolidated Entity has newly adopted the following new standards and interpretations that affected
the Consolidated Entity’s accounting policies
Amendments to K-IFRS 1001 – Presentation of Financial Statements
The amendments to K-IFRS 1001 clarify the concept of applying materiality in practice and restrict an entity
reducing the understandability of its financial statements by obscuring material information with immaterial
information or by aggregating material items that have different natures or functions. The adoption of the
amendment has no significant impact on the Consolidated Entity’s condensed consolidated financial statements.
Amendments to K-IFRS 1016 – Property, Plant and Equipment
The amendments to K-IFRS 1016 prohibit entities from using a revenue-based depreciation method for items
of property, plant and equipment. The adoption of the amendment has no significant impact on the
Consolidated Entity’s condensed consolidated financial statements.
Amendments to K-IFRS 1038 – Intangible Assets
The amendments to K-IFRS 1038 clarified that the use of revenue-based methods to calculate the amortization
of an asset is not appropriate, unless the consumption of the expected future economic benefits is embodied in
the asset. The adoption of the amendment has no significant impact on the Consolidated Entity’s condensed
consolidated financial statements.
Amendments to K-IFRS 1110 – Consolidated Financial Statements, K-IFRS 1112 – Disclosure of Interests in
Other Entities and K-IFRS 1028 – Investment in Associates
The amendments clarify that in applying the equity method of accounting to an associate or a joint venture that
is an investment entity, an investor may retain the fair value measurements that the associate or the joint
venture used for its subsidiaries. The adoption of the amendment has no significant impact on the Consolidated
Entity’s condensed consolidated financial statements.
Amendments to K-IFRS 1111 – Accounting for Acquisitions of Interests in Joint Operations
The amendments to K-IFRS 1111 provide guidance on how to account for the acquisition of an interest in a
joint operation in which the activities constitute a business, as defined in K-IFRS 1103, Business
Combinations. Specifically, the amendments state that the relevant principles on accounting for business
combinations in K-IFRS 1103 and other standards should be applied. The same requirements should be
applied to the formation of a joint operation if, and only if, an existing business is contributed to the joint
operation by one of the parties that participate in the joint operation. A joint operator is also required to
disclose the relevant information required by K-IFRS 1103 and other standards for business combinations.
The adoption of the amendment has no significant impact on the Consolidated Entity’s condensed
consolidated financial statements.

- 3 -
Annual Improvements to K-IFRS 2012-2014 Cycle
The annual improvements include amendments to a number of K-IFRSs. The amendments introduce a specific
guidance on K-IFRS 1105, Non-current Assets Held for Sale and Discontinued Operations, when an entity
reclassifies an asset (or disposal group) from held for sale to held for distribution to owners (or vice versa);
such a change is considered as a continuation of the original plan of disposal, and not as a change in a plan of
sale. Other amendments to the annual improvements include K-IFRS 1107, Financial Instruments: Disclosures;
K-IFRS 1019, Employee Benefits; and K-IFRS 1034, Interim Financial Reporting. The adoption of the
amendment has no significant impact on the Consolidated Entity’s condensed consolidated financial statements.
2) The Consolidated Entity has not applied the following K-IFRSs that have been issued, but are not yet
effective:
Amendments to K-IFRS 1109 – Financial Instruments
The amendments to K-IFRS 1109 contain the requirements for the classification and measurement of financial
assets and financial liabilities based on a business model whose objective is achieved both by collecting
contractual cash flows and selling financial assets and based on the contractual terms that give rise on specified
dates to cash flows, impairment methodology based on the expected credit losses, broadened types of
instruments that qualify as hedging instruments, the types of risk components of non-financial items that are
eligible for hedge accounting and the change in the hedge effectiveness test. The amendments are effective for
annual periods beginning on or after January 1, 2018.
Amendments to K-IFRS 1115 – Revenue from Contracts with Customers
The core principle under K-IFRS 1115 is that an entity should recognize revenue to depict the transfer of
promised goods or services to customers in an amount that reflects the consideration to which the entity expects
to be entitled in exchange for those goods or services. The amendments introduce a five-step approach to
revenue recognition and measurement: 1) Identify the contract with a customer, 2) Identify the performance
obligations in the contract, 3) Determine the transaction price, 4) Allocate the transaction price to the
performance obligations in the contract and 5) Recognize revenue when (or as) the entity satisfies a
performance obligation. This standard will supersede K-IFRS 1011, Construction Contracts, K-IFRS 1018,
Revenue, K-IFRS 2113, Customer Loyalty Programmes, K-IFRS 2115, Agreements for the Construction of
Real Estate, K-IFRS 2118, Transfers of Assets from Customers, and K-IFRS 2031, Revenue-Barter
Transactions Involving Advertising Services. The amendments are effective for annual periods beginning on or
after January 1, 2018.
3. SIGNIFICANT ACCOUNTING ESTIMATES AND ASSUMPTIONS:
In the preparation of the Consolidated Entity’s condensed consolidated financial statements, management is
required to make judgments, estimates and assumptions that affect assets, liabilities, revenue and expenses.
Actual results may differ from those estimates.
The significant judgments that management has made about the application of the Consolidated Entity’s
accounting policies and key sources of estimation uncertainty do not differ from those used in preparing the
consolidated financial statements as of and for the year ended December 31, 2015.

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4. RESTRICTED FINANCIAL ASSETS:
Details of restricted financial assets as of June 30, 2016, and December 31, 2015, are as follows (Unit: Korean
won in millions):
Type Entity June 30, 2016 December 31, 2015 Restriction
Cash and deposits KB Bank and others ￦ 18 ￦ 18 Guarantee deposits for
overdraft
Shinhan Bank and others 33,000 33,000 Secured deposits
Citibank 22,056 14,400 Deposits related to
securitization
Mirae Asset Securities 7 7 Social enterprise fund
Other assets Korea Asset Management
Corporation 6,995 6,995 Escrow account
￦ 62,076 ￦ 54,420
5. SECURITIES:
Securities as of June 30, 2016, and December, 31 2015, are as follows (Unit: Korean won in millions):
June 30, 2016 December 31, 2015
Trading:
Debt securities ￦ 622,307 ￦ 399,928
Equity securities 182,031 60,000
Subtotal 804,338 459,928
Financial assets AFS:
Unlisted shares investment 1,767 1,767
Total ￦ 806,105 ￦ 461,695
6. CARD ASSETS:
Details of card assets by customers as of June 30, 2016, and December 31, 2015, are as follows (Unit: Korean
won in millions):
June 30, 2016
Principal
Deferred origination
cost and fee
Present value of
discounts
Allowance for
doubtful accounts Book value
Card receivables:
Households ￦ 6,918,741 ￦ (10,894) ￦ (6,597) ￦ (74,373) ￦ 6,826,877
Corporates 546,408 - - (5,472) 540,936
Cash advances:
Households 851,402 - - (35,119) 816,283
Card loans:
Households 3,223,099 - (751) (152,085) 3,070,263
Total ￦ 11,539,650 ￦ (10,894) ￦ (7,348) ￦ (267,049) ￦ 11,254,359
December 31, 2015
Principal
Deferred origination
cost and fee
Present value of
discounts
Allowance for
doubtful accounts Book value
Card receivables:
Households ￦ 7,069,322 ￦ (8,643) ￦ (7,434) ￦ (72,107) ￦ 6,981,138
Corporates 542,606 - - (4,594) 538,012
Cash advances:
Households 827,003 - - (32,868) 794,135
Card loans:
Households 3,240,008 - (789) (145,917) 3,093,302
Total ￦ 11,678,939 ￦ (8,643) ￦ (8,223) ￦ (255,486) ￦ 11,406,587

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7. ALLOWANCE FOR DOUBTFUL ACCOUNTS:
Changes in the allowance for doubtful accounts for the six months ended June 30, 2016 and 2015, are as
follows (Unit: Korean won in millions):
Six months ended June 30, 2016
Card receivables Card advances Card loans Other assets Total
Beginning balance ￦ 76,701 ￦ 32,868 ￦ 145,917 ￦ 3,213 ￦ 258,699
Bad debt expenses (441) (191) (344) - (976)
Bad debt recovered 243 350 140 - 733
Disposition and repurchase (11,603) (6,768) (12,298) - (30,669)
Transfer of allowance for
doubtful accounts 14,945 8,860 18,670 761 43,236
Ending balance ￦ 79,845 ￦ 35,119 ￦ 152,085 ￦ 3,974 ￦ 271,023
Card receivables Card advances Card loans Other assets Total
Bad debt expenses (876) (109) (287) - (1,272)
Bad debt recovered 314 417 149 - 880
Disposition and repurchase (11,681) (6,863) (13,888) - (32,432)
Transfer (reversal) of
allowance for doubtful
accounts 7,427 4,961 16,032 (777) 27,643
Ending balance ￦ 66,706 ￦ 28,484 ￦ 136,246 ￦ 1,833 ￦ 233,269
8. PROPERTY, PLANT AND EQUIPMENT:
Changes in book value of property, plant and equipment for the six months ended June 30, 2016 and 2015, are
as follows (Unit: Korean won in millions):
Beginning
balance Acquisition Reclassification Disposal Depreciation
Ending
balance
Land ￦ 141,136 ￦ - ￦ - ￦ - ￦ - ￦ 141,136
Buildings 108,717 - - - (1,515) 107,202
Vehicles 2,260 - - - (93) 2,167
Fixtures and equipment 84,402 4,979 2,457 (1,042) (15,935) 74,861
Construction in progress 14,089 13,401 (2,769) - - 24,721
Total ￦ 350,604 ￦ 18,380 ￦ (312) ￦ (1,042) ￦ (17,543) ￦ 350,087
Beginning
balance Acquisition Reclassification Disposal Depreciation
Ending
balance
Land ￦ 138,257 ￦ 762 ￦ - ￦ - ￦ - ￦ 139,019
Buildings 104,473 24 - (842) (1,414) 102,241
Vehicles 2,464 - - (16) (96) 2,352
Fixtures and equipment 87,856 6,560 2,460 (419) (18,198) 78,259
Total ￦ 356,430 ￦ 21,602 ￦ 398 ￦ (1,277) ￦ (19,708) ￦ 357,445

- 6 -
9. INTANGIBLE ASSETS:
Changes in intangible assets for the six months ended June 30, 2016 and 2015, are as follows (Unit: Korean
won in millions):
Beginning
balance Acquisition Reclassification Disposal Amortization
Ending
balance
Development cost ￦ 86,046 ￦ 2,582 ￦ 1,888 ￦ (34) ￦ (13,773) ￦ 76,709
Software 24,079 761 75 - (4,101) 20,814
Others 1,490 - - - (472) 1,018
Membership 20,623 - - (600) - 20,023
Total ￦ 137,085 ￦ 5,438 ￦ (4) ￦ (634) ￦ (18,346) ￦ 123,539
Beginning
balance Acquisition Reclassification Amortization
Ending
balance
Development cost ￦ 98,710 ￦ 3,947 ￦ 2,050 ￦ (14,245) ￦ 90,462
Others 3,199 - - (972) 2,227
Construction in progress 11,144 4,699 (2,515) - 13,328
Membership 20,614 - - - 20,614
Total ￦ 133,667 ￦ 8,646 ￦ (465) ￦ (15,217) ￦ 126,631
10. BORROWINGS:
(1) Details of borrowings as of June 30, 2016, and December 31, 2015, are as follows (Unit: Korean won in
millions):
Lenders
Annual interest
rate (%) June 30, 2016 December 31, 2015
Short-term borrowings:
Commercial paper IBK Securities and others 1.64–1.99 ￦ 290,000 ￦ 240,000
Borrowings KB and others 2.32–2.93 455,000 300,000
Subtotal 745,000 540,000
Current portion of long-
term borrowings:
Borrowings SC Bank - - 50,000
Long-term borrowings:
Commercial paper IBK Securities and other 1.88–1.89 250,000 -
Borrowings KB 2.68 20,000 -
Subtotal 270,000 -
Total ￦ 1,015,000 ￦ 590,000
(2) Details of debentures as of June 30, 2016, and December 31, 2015, are as follows (Unit: Korean won in
millions):
Annual
interest rates (%) Maturity June 30, 2016
December 31,
2015
Short-term debentures 1.80–2.04 2016.09.25–2016.12.02 ￦ 140,000 ￦ 210,000
Current portion of long-term
debentures 1.79–4.93 2016.07.01–2017.06.30 2,771,469 1,770,000
Long-term debentures 1.61–5.50
2017.07.03–2026.04.28
5,426,174 6,557,680
Subtotal 8,337,643 8,537,680
Discounts on debenture (7,716) (9,796)
Debenture, net ￦ 8,329,927 ￦ 8,527,884

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The outstanding debentures are non-guaranteed corporate bonds, with their principals to be redeemed by
installment or at maturity. Bond issuance costs are recorded as discounts on debenture and amortized using the
effective interest rate method.
11. RETIREMENT BENEFIT PLAN:
(1) Defined Contribution Plan
The expenses recognized in the condensed consolidated statement of comprehensive income related to
postemployment benefit plan under the defined contribution plan for the six months ended June 30, 2016 and
2015, are as follows (Unit: Korean won in millions):
Six months ended June 30
2016 2015
Defined contribution plan ￦ 75 ￦ 37
(2) Net Defined Benefit Liability
The details of net defined benefit liability as of June 30, 2016, and December 31, 2015, are as follows (Unit:
Korean won in millions):
June 30, 2016 December 31, 2015
Net defined benefit liability ￦ 28,046 ￦ 19,199
Long-term employee benefit 4,689 4,407
Total ￦ 32,735 ￦ 23,606
(3) Defined Benefit Plan
1) General
The Consolidated Entity operates a defined benefit plan that is linked to final payment. Plan assets mainly
consist of deposits and are exposed to risk of fall in interest rate.
2) Net defined benefit obligation
Changes in present value of net defined benefit obligation for the six months ended June 30, 2016 and 2015,
are as follows (Unit: Korean won in millions):
Present value of
defined benefit
obligation Plan assets
National Pension
Fund
Net defined benefit
obligation
Beginning balance ￦ 81,458 ￦ (62,238) ￦ (21) ￦ 19,199
Current service cost 7,201 - - 7,201
Interest expense (income) 971 (748) - 223
Return on plan assets, excluding
amounts included in interest
income above - 255 - 255
Actuarial gains and losses from
changes in financial assumptions 3,022 - - 3,022
adjustment of experiences (2,197) - - (2,197)
Transfer of employees between the
affiliated companies and its related
companies 529 (700) 5 (166)
Benefits paid (3,557) 4,066 - 509
Ending balance ￦ 87,427 ￦ (59,365) ￦ (16) ￦ 28,046

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Present value of the
defined benefit
obligation Plan assets
National Pension
Fund
Net defined benefit
obligation
Beginning balance ￦ 69,739 ￦ (53,378) ￦ (29) ￦ 16,332
Current service cost 6,628 - - 6,628
Interest expense (income) 921 (708) (1) 212
Return on plan assets, excluding
amounts included in interest
income above
- 188 - 188
changes in demographic
assumptions
5 - - 5
changes in financial assumptions
1,214 - - 1,214
adjustment of experiences
2,300 - - 2,300
Transfer of employees between the
Consolidated Entity and its related
companies
(73) (57) - (130)
Benefits paid (2,927) 2,452 4 (471)
Ending balance ￦ 77,807 ￦ (51,503) ￦ (26) ￦ 26,278
(4) Long-Term Employee Benefits
Changes in present value of long-term employee benefits liability for the six months ended June 30, 2016 and
2016 2015
Beginning balance ￦ 4,407 ￦ 3,553
Current service cost 264 217
Interest cost 58 54
Actuarial gains and losses 119 117
Benefits paid (159) (141)
Ending balance ￦ 4,689 ￦ 3,800

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12. PROVISIONS:
Changes in provisions for the six months ended June 30, 2016 and 2015, are as follows (Unit: Korean won in
millions):
Unused
commitment Point
Asset retirement
obligation Others Total
Increase (decrease) 2,724 (4,373) 305 - (1,344)
Ending balance ￦ 55,812 ￦ 24,116 ￦ 6,641 ￦ 8,147 ￦ 94,716
Unused
commitment Point
Asset retirement
obligation Others Total
Increase (decrease) 1,220 6,270 267 (1,236) 6,521
Ending balance ￦ 47,109 ￦ 29,014 ￦ 5,804 ￦ 8,149 ￦ 90,076
Other provisions include provision for deposits in escrow account and for pending litigations amounting to
￦2,233 million (see Note 24(4)) and ￦5,914 million, respectively, as of June 30, 2016. Also, provision for
pending litigations includes the provision related to deposits in escrow account amounting to ￦4,467 million.
13. DERIVATIVES AND HEDGE ACCOUNTING:
(1) There are no derivative instruments held for trading as of June 30, 2016, and December 31, 2015.
(2) Cash flow hedge
The Company removes the volatility risk of future cash flow of a hedged item, such as borrowings, caused
by changes in market interest rates or in foreign currency rates by using derivative instruments, such as an
interest rate swap or currency swap. The Company’s policies and strategies of cash flow hedge are the same
as those as of December 31, 2015.
1) Fair values of cash flow hedge as of June 30, 2016, and December 31, 2015, are as follows (Unit: Korean
won in millions):
June 30, 2016
Unsettled
contract amount Assets Liabilities
Accumulated other
comprehensive
loss (*1)
Interest rate swap ￦ 1,335,000 ￦ - ￦ 18,598 ￦ (14,163)
Cross-currency swap 803,643 30,841 2,953 (8,734)
Total ￦ 2,138,643 ￦ 30,841 ￦ 21,551 ￦ (22,897)
December 31, 2015
Unsettled
contract amount Assets Liabilities
Accumulated other
comprehensive
loss (*1)
Interest rate swap ￦ 1,175,000 ￦ 21 ￦ 17,744 ￦ (13,469)
Cross-currency swap 808,680 39,563 - (3,673)
Total ￦ 1,983,680 ￦ 39,584 ￦ 17,744 ￦ (17,142)
(*1) After the effect of corporate income taxes

- 10 -
For transactions between local and foreign currencies, the unsettled contract amount of transaction is translated
by applying the basic foreign exchange rate at the end of reporting period to the contract amount in foreign
currencies. For transactions between foreign currencies and other foreign currencies, the unsettled contract
amount is the amount translated by applying the basic foreign exchange rate at the end of reporting period to
the contract amount in foreign currencies purchased.
2) The maximum period for the Company exposed to the variability in future cash flows arising from
derivatives designated as cash flow hedges is expected to be until June 21, 2021. Meanwhile, there is no
ineffective portion recognized related to cash flow hedge for the six months ended June 30, 2016 and 2015.
14. PLANNED RESERVES FOR BAD LOANS:
(1) Details of planned reserves for bad loans as of June 30, 2016, and December 31, 2015, are as follows (Unit:
June 30, 2016 December 31, 2015
Accumulated reserve for bad loans ￦ 640,026 ￦ 666,023
Reversal to planned reserve for bad loans (142) (25,997)
Reserve for bad loans ￦ 639,884 ￦ 640,026
(2) Reversal to planned reserve for bad loans and net income after the reserve is provided for the six months
ended June 30, 2016 and 2015, are as follows (Unit: Korean won in millions, except for earnings per share):
2016 2015
Net income ￦ 94,878 ￦ 110,827
Reversal to planned reserve for bad loans (142) (33,350)
Net income after the planned reserve is provided 95,020 144,177
Earnings per share after the planned reserve is
provided
592 898
15. RETAINED EARNINGS:
(1) Details of retained earnings as of June 30, 2016, and December 31, 2015, are as follows (Unit: Korean won
in millions):
June 30, 2016 December 31, 2015
Legal reserve (*1) ￦ 45,127 ￦ 20,143
Planned reserve for bad loans (Note 14) 640,026 666,023
Unappropriated retained earnings 1,082,111 986,219
Total ￦ 1,767,264 ￦ 1,672,385
(*1) Korean Commercial Code requires a company to appropriate at least 10% of dividends paid as legal
reserve for each fiscal period, until the reserve equals 50% of paid-up capital. This reserve is not
available for payment of cash dividends; however, it can be used to reduce deficit or be transferred to
capital.
(2) Changes in retained earnings for the six months ended June 30, 2016 and 2015, are as follows (Unit:
2016 2015
Beginning balance ￦ 1,672,386 ￦ 1,735,468
Net income 94,878 110,827
Ending balance ￦ 1,767,264 ￦ 1,846,295

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16. NET INTEREST EXPENSES:
Net interest expenses from financial instruments for the three months and six months ended June 30, 2016 and
2016 2015
Three months
ended June 30
Six months
ended June 30
Three months
ended June 30
Six months
ended June 30
Interest income:
Cash and deposits ￦ 4,523 ￦ 9,557 ￦ 4,308 ￦ 10,047
Others 224 449 275 829
Total 4,747 10,006 4,583 10,876
Interest expenses:
Borrowings 5,753 9,943 2,057 4,083
Debentures 58,426 121,002 66,568 136,760
Others 39 66 (23) (18)
Total 64,218 131,011 68,602 140,825
Net interest expenses ￦ (59,471) ￦ (121,005) ￦ (64,019) ￦ (129,949)
17. NET COMMISSION INCOME:
Net commission income (expenses) from financial instruments for the three months and six months ended June
30, 2016 and 2015, are as follows (Unit: Korean won in millions):
2016 2015
Three months
ended June 30
Six months
ended June 30
Three months
ended June 30
Six months
ended June 30
Commission income:
Card income ￦ 406,980 ￦ 818,123 ￦ 387,004 ￦ 767,592
Total 406,980 818,123 387,004 767,592
Commission expenses:
Service fee 147,660 297,975 131,985 263,683
Financial payment fee 2,228 4,388 2,332 4,640
Handling fee relating to
credit purchase 39,740 76,134 37,278 75,171
Merchants copayment fee 12 24 14 27
Overseas payment fee 12,134 24,172 10,744 21,261
Other 9,120 20,393 11,431 22,113
Total 210,894 423,086 193,784 386,895
Net commission income ￦ 196,086 ￦ 395,037 ￦ 193,220 ￦ 380,697

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18. OTHER OPERATING REVENUE AND EXPENSES:
Other operating revenues and expenses for the three months and six months ended June 30, 2016 and 2015, are
as follows (Unit: Korean won in millions):
2016 2015
Three months
ended June 30
Six months
ended June 30
Three months
ended June 30
Six months
ended June 30
Other operating revenue:
Foreign exchange gain ￦ 4,951 ￦ 9,084 ￦ 3,692 ￦ 7,159
Foreign currency translation gain (7,728) 5,037 - -
Gain on transaction of derivatives - - (546) 1,653
Gain on valuation of derivatives - - 5,652 8,881
Others 9,816 18,196 10,695 15,712
Total ￦ 7,039 ￦ 32,317 ￦ 19,493 ￦ 33,405
Other operating expenses:
Foreign exchange loss ￦ 2,162 ￦ 3,590 ￦ 757 ￦ 4,230
Foreign currency translation loss - - 5,652 8,881
Loss on valuation of derivatives (7,728) 5,037 - -
Others 9,953 16,557 12,243 18,843
Total ￦ 4,387 ￦ 25,184 ￦ 18,652 ￦ 31,954
19. GENERAL AND ADMINISTRATIVE EXPENSES:
Details of general and administrative expenses for the three months and six months ended June 30, 2016 and
2016 2015
Three months
ended June 30
Six months
ended June 30
Three months
ended June 30
Six months
ended June 30
Salaries and wages ￦ 40,425 ￦ 76,765 ￦ 43,348 ￦ 88,790
Pension expenses 4,926 8,673 5,273 8,711
Employee benefits 5,726 13,662 5,709 13,105
Travel expenses 748 1,369 657 1,202
Communication expenses 8,495 16,166 8,807 16,687
Posts expenses 3,471 7,395 4,786 9,558
Rental expenses 6,344 12,575 6,141 12,641
Taxes dues 4,001 9,895 4,079 9,013
Repair and maintenance expenses 500 828 263 424
Insurance premiums 54 118 61 111
Entertainment expenses 85 189 187 328
Advertising expenses 16,860 27,167 9,793 15,548
Supplies 682 1,247 1,017 1,725
Vehicle maintenance expenses 4 7 3 6
Periodicals expenses 85 178 87 123
Publication expenses 1,590 3,414 2,477 4,480
Training expenses 1,112 2,014 1,081 2,500
Electronic data processing expenses 10,602 22,340 9,884 20,024
Expense for temporary staff 1,216 2,779 1,878 4,128
Professional service expenses 36,201 68,783 34,746 66,183
Delivery commission 331 670 420 840
Commission expenses 8,165 15,494 7,853 14,634
Business activities expenses 791 1,354 782 1,458
Depreciation expenses 8,700 17,543 9,670 19,708
Amortization expenses 9,035 18,346 7,552 15,217
Event expenses 97 776 1,099 1,535
Conference expenses 106 177 125 185
Building administrative expenses 2,069 4,150 1,939 3,823
Total ￦ 172,421 ￦ 334,074 ￦ 169,717 ￦ 332,687

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20. INCOME TAX EXPENSES:
(1) Income tax expenses for the six months ended June 30, 2016 and 2015, are as follows (Unit: Korean won in
millions):
2016 2015
Income tax currently payable ￦ 30,056 ￦ 32,562
Changes in deferred income tax assets (1,199) (347)
Changes in income tax expense reflected directly in
shareholders’ equity 1,973 996
Income tax expenses ￦ 30,830 ￦ 33,211
(2) Income tax expenses reflected directly in shareholders’ equity for the six months ended June 30, 2016 and
January 1, 2016 Increase June 30, 2016
Tax effect related to cash flow hedging reserve loss ￦ 5,413 ￦ 1,758 ￦ 7,171
Tax effect related to remeasurements of net defined
benefit liability 6,708 215 6,923
Total ￦ 12,121 ￦ 1,973 ￦ 14,094
January 1, 2015 Increase June 30, 2015
Tax effect related to cash flow hedging reserve loss ￦ 6,537 ￦ 269 ￦ 6,806
Tax effect related to remeasurements of net defined
benefit liability 6,166 727 6,893
Total ￦ 12,703 ￦ 996 ￦ 13,699
(3) A reconciliation between income before income tax and income tax expense for the six months ended
June 30, 2016 and 2015, is as follows (Unit: Korean won in millions):
2016 2015
Net income before income tax ￦ 125,709 ￦ 144,038
Net income tax payable by the statutory income tax rates (*) 29,959 34,395
Tax reconciliations:
Others 871 (1,184)
Subtotal 871 (1,184)
Income tax expense for continued operation 30,830 33,211
Effective tax rates (income tax/income before income tax) 24.52% 23.06%
(*) Applicable income tax rate: 1) 11% for below ￦200 million, 2) 22% for ￦200 million to ￦20 billion
and 3) 24.2% for above ￦20 billion.
21. EARNINGS PER SHARE:
(1) Basic earnings per share for the three months and six months ended June 30, 2016 and 2015, are as follows
(Unit: Korean won):
2016 2015
Three months
ended June 30
Six months
ended June 30
Three months
ended June 30
Six months
ended June 30
Net income (A) ￦ 41,294,624,862 ￦ 94,878,324,324 ￦ 48,659,548,903 ￦110,826,869,613
Weighted-average
number of shares (B) 160,465,286 shares 160,465,286 shares 160,465,286 shares 160,465,286 shares
Net income per share (A/B) ￦ 257 ￦ 591 ￦ 303 ￦ 691

- 14 -
(2) Diluted earnings per share
As there were no discontinued operations during the six months ended June 30, 2016 and 2015, basic earnings
per share are the same as basic earnings per share from continuing operations.
22. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS):
Changes in accumulated other comprehensive income (loss) for the six months ended June 30, 2016 and 2015,
are as follows (Unit: Korean won in millions):
June 30, 2016
Changes
Beginning
balance
Reclassification
of profit or loss Other
Income tax
effects
Ending
balance
Gain (loss) on valuation
of derivatives ￦ (17,142) ￦ 224 ￦ (7,737) ￦ 1,758 ￦ (22,897)
defined benefit liability (21,242) - (1,080) 215 (22,107)
Total ￦ (38,384) ￦ 224 ￦ (8,817) ￦ 1,973 ￦ (45,004)
June 30, 2015
Changes
Beginning
balance
Reclassification
of profit or loss Other
Income tax
effects
Ending
balance
Gain (loss) on valuation
of derivatives ￦ (20,648) ￦ (213) ￦ (1,582) ￦ 269 ￦ (22,174)
defined benefit liability (19,470) - (3,707) 727 (22,450)
Total ￦ (40,118) ￦ (213) ￦ (5,289) ￦ 996 ￦ (44,624)
23. CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS:
(1) Cash and cash equivalents
Cash and cash equivalents in the condensed consolidated statement of cash flows are as follows (Unit: Korean
won in millions):
June 30, 2016 June 30, 2015
Ordinary deposits ￦ 188,923 ￦ 154,230
Current deposits 295 92
Time deposits - 13,200
Other cash and cash equivalents 442,791 239,778
Total ￦ 632,009 ￦ 407,300

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(2) Cash generated from operating activities
Cash generated from operating activities is as follows (Unit: Korean won in millions):
2016 2015
Net income ￦ 94,878 ￦ 110,827
Adjustments:
Income tax expense 30,830 33,211
Interest income (10,006) (10,876)
Interest expense 131,011 140,825
Dividends received (166) (147)
Bad debt expenses and losses on disposal of receivables 120,895 105,949
Retirement benefits 7,499 6,841
Long-term employee benefits 442 388
Depreciation expenses 17,543 19,708
Amortization expenses 18,346 15,217
Losses on foreign currency translation - 8,881
Losses on valuation of derivatives 5,037 -
Increase in provision for unused credit limit 2,724 1,220
Losses from sale of property, plant and equipment 132 1,260
Losses from sale of intangible assets 59 -
Sales promotional expenses 15,514 16,280
Increase (decrease) in provision for others (5,100) 4,664
Other operating expenses 309 607
Gains on valuation of trading securities (1,883) (467)
Gains on disposal of AFS securities (16) (115)
Gains on foreign currency translation (5,037) -
Gains on valuation of derivatives - (8,881)
Amortization of present value of discounts of card assets (16,492) (17,656)
Amortization of deferred origination cost and fee of card assets (12,664) (11,903)
Gains from sale of property, plant and equipment (154) (29)
Gains from sale of intangible assets (10) -
Other operating revenues (13) (13)
Subtotal 298,800 304,964
Changes in operating assets and liabilities:
Decrease (increase) in trading securities (342,527) 207,102
Decrease in card assets 45,734 242,980
Increase in deposits (14,400) -
Decrease (increase) in other assets 3,069 (32,993)
Increase in guarantee deposits (564) (282)
Decrease in derivative assets 8,000 530
Decrease in net defined benefit liabilities (166) (601)
Decrease in long-term employee benefits (161) (141)
Decrease in derivative liabilities (8,000) (9,097)
Increase (decrease) in other liabilities (1,371) 48,751
Subtotal (310,386) 456,249
Total ￦ 83,292 ￦ 872,040
The cash and cash equivalents in the condensed consolidated statement of cash flows are the same as the
cash and cash equivalents in the condensed consolidated statement of financial position.

- 16 -
24. CONTINGENCIES AND COMMITMENTS:
(1) Credit line agreements
The credit line agreements as of June 30, 2016, and December 31, 2015, are as follows (Unit: Korean won in
millions):
Type Financial instruments June 30, 2016 December 31, 2015
Intraday overdraft limit Shinhan Bank
and 13 others ￦ 472,575 ￦ 542,600
(2) Revolving credit facility
As the Consolidated Entity has a revolving credit facility agreement with many financial institutions for credit
line as of June 30, 2016, it made a revolving credit facility agreement for ￦510 billion with Kookmin Bank
and 10 others for credit line as of June 30, 2016.
(3) Pending litigations
As of June 30, 2016, the Consolidated Entity is involved in 25 cases (￦33,101 million) as a defendant, 13
cases (￦17,999 million) as a plaintiff and the cases for debt collection against multiple debtors in the
important pending litigations. The Consolidated Entity records ￦5,914 million for other provisions regarding
the cases as a defendant. The management of the Consolidated Entity does not anticipate that these pending
litigations referred above will have a significant effect on the Consolidated Entity’s consolidated financial
statements (see Note 12).
(4) Deposit for loss reimbursement
As of June 30, 2016, the Consolidated Entity has deposits of ￦2,233 million and ￦4,763 million of proceeds
and interests, respectively, from the sale of Daewoo Engineering & Construction Co., Ltd.’s shares in an
escrow account and records ￦2,233 million and ￦4,467 million for provision of proceeds and interests,
respectively, from the litigation relating to the sale of Daewoo Engineering & Construction Co., Ltd.’s shares
(see Note 12).
(5) Contract of sale of receivables
The Consolidated Entity entered into a contract with Hyundai Capital Services, Inc. relating to its sale of
receivables on January 24, 2006. In accordance with the contract, the Consolidated Entity sells the receivables
that are 60 days or more past due or written off (partially including receivables that are before 60 days) to
Hyundai Capital Services, Inc. Such sale occurs five times a month on designated cutoff dates at the amount
calculated using a predetermined price pursuant to the contract.
(6) Reserve for loss reimbursement
The Consolidated Entity has the obligation to reimburse customers for fraudulent credit card activities; the
Consolidated Entity records the expected losses as an accrued expense.
(7) Insurance for the implementation of the liability for damages
The Consolidated Entity has an insured value of ￦1 billion for the implementation of the liability for damages
in accordance with Article 43 of Credit Information Act.
(8) Security on the receivables sold relating to asset-backed securitization
The Consolidated Entity continuously transfers receivables to maintain a certain level of its equity in the
second series beneficiary certificates relating to the asset-backed securitization.

- 17 -
(9) Early redemption rule associated with asset-backed securitization
According to the agreement on the Consolidated Entity’s asset-backed securitization, in order to enhance the
credit level of the asset-backed securities, several provisions are in place as trigger clauses to be used for early
redemption calls, thereby limiting the risk that the investors are exposed to resulting from a change in quality
of the assets in the future. In the event the asset-backed securitization of the Consolidated Entity is in violation
of the applicable trigger clause, the Consolidated Entity is obliged to make early redemption for the asset-
backed securities.
25. TRANSACTION WITH RELATED PARTIES:
(1) Status of related parties
Related parties consist of entities related to the Consolidated Entity, postemployment benefits, a key
management personnel and a close member of that person’s family; an entity controlled or jointly controlled;
and an entity influenced significantly.
Details of the related parties as of June 30, 2016, are as follows:
Companies
Parent company Hyundai Motor Company
Other related parties IGE USA Investments, GE Capital Int’l Holdings, HMC Investment Securities, Green
Air, Kia Motors, Kia Tigers, Maintrans Co., Ltd., Busan Finance Center AMC, HL
Green Power, WIA-MAGNA Powertrain, Eukor Car Carriers, Innocean Worldwide,
Iljin Bearing, Chunbuk Hyundai Motors FC, Korea Credit Bureau, Hankook
Economy Daily, Haevichi Country Club, Haevichi Hotels & Resorts, Hyundai
Construction, Hyundai Glovis, Hyundai Dymos, Hyundai City Corporation, Hyundai
Life, Hyundai Rotem, Hyundai Materials, Hyundai Mobis, Hyundai BNG Steel,
Hyundai Farm Land & Development, Hyundai Engineering & Steel Industries,
Hyundai IHL, Hyundai Energy, Hyundai Engineering, Hyundai NGV, Hyundai
MSEAT, Hyundai MNSOFT, Hyundai Auto Ever Systems, Hyundai-autron, Hyundai
WIA, Hyundai Steel Company, HYUNDAI Architects & Engineers Assoc., Hyundai
Capital, Hyundai Commercial, Hyundai KEFICO, Hyundai Powertech, Hyundai
Partecs, Hyundai Hysco, etc.
(2) Outstanding transactions with the related parties for the six months ended June 30, 2016 and 2015, are as
Revenues Expenses Others
Card
income
Rental
revenue Others
Card
expense
General and
administrative
expenses Others
Purchase of
property,
plant and
equipment
Purchase of
intangible
assets
Disposal
of assets
Parent company:
Hyundai Motor
Company ￦ 61,084 ￦ - ￦ - ￦ 4,827 ￦ 202 ￦ 203 ￦ - ￦ - ￦ -
Other related parties:
Hyundai Capital 669 237 11,483 7,352 1,321 15,090 - - 180,900
Hyundai Life 3,936 86 299 - 2,226 - - - -
Kia Motor
Company
26,055 - - - 1 56 - - -
Hyundai Auto
Ever Systems
1,944 - - - 31,419 - - 1,742 -
Innocean
Worldwide
901 - - - 4,275 - - - -
Others 1,172 437 650 213 5,345 1,162 6,598 - -
Total ￦ 95,761 ￦ 760 ￦12,432 ￦12,392 ￦ 44,789 ￦16,511 ￦ 6,598 ￦ 1,742 ￦180,900

- 18 -
Revenues Expenses Others
Card
income
Rental
revenue Others
Card
expense
General and
administrative
expenses Others
Purchase of
property,
plant and
equipment
Purchase of
intangible
assets
Disposal
of assets
Parent company:
Hyundai Motor
Company ￦53,478 ￦ - ￦ - ￦ - ￦ 284 ￦ 2 ￦ - ￦ - ￦ -
Hyundai Capital 41 260 11,572 11,435 1,237 13,763 - - 181,718
Hyundai Life 1,805 96 - - 2,041 - - - -
Kia Motor
Company
19,141 - - - 7 - - - -
Hyundai Auto
Ever Systems
2,484 - - 5 19,142 3,633 - 5,597 -
Innocean
Worldwide
740 - - - 2,628 - - - -
Others 831 409 565 73 4,191 1,472 3,823 30 -
Total ￦78,520 ￦ 765 ￦12,137 ￦11,513 ￦ 29,530 ￦18,870 ￦ 3,823 ￦ 5,627 ￦ 181,718
(3) Receivables and payables (except for borrowings) from the transactions with the related parties as of June
30, 2016, and December 31, 2015, are as follows (Unit: Korean won in millions):
June 30, 2016
Receivables Payables
Card assets Others
Accounts
payable Others
Parent company:
Hyundai Motor Company ￦ 31,817 ￦ 2,133 ￦ 39,900 ￦ -
Hyundai Capital 114,961 550 912 662
Hyundai Life 476 58,449 102 84
Kia Motor Company 13,865 - 12,541 -
Hyundai Auto Ever Systems 4,929 - 3,649 -
Innocean Worldwide 254 - 3,492 -
Others 22,499 - 1,200 506
Total ￦ 188,801 ￦ 61,132 ￦ 61,796 ￦ 1,252
December 31, 2015
Receivables Payables
Card assets Others
Accounts
payable Others
Parent company:
Hyundai Motor Company ￦ 46,492 ￦ 2,153 ￦ 39,143 ￦ -
Hyundai Capital 111,407 423 1,038 248
Hyundai Life 1,564 59,597 139 101
Kia Motor Company 21,925 - 10,666 -
Hyundai Auto Ever Systems 5,223 - 4,017 -
Innocean Worldwide 360 - 5,639 -
Others 29,633 - 5,785 424
Total ￦ 216,604 ￦ 62,173 ￦ 66,427 ￦ 773

- 19 -
(4) Compensation for key management for the six months ended June 30, 2016 and 2015, is as follows (Unit:
2016 2015
Short-term employee benefit ￦ 4,544 ￦ 6,374
Retirement benefit 959 982
Other long-term employee benefit - 7
Total ￦ 5,503 ￦ 7,363
(5) There were no borrowing transactions with the related parties for the six months ended June 30, 2016 and
2015.
(6) There were no lending transactions with the related parties for the six months ended June 30, 2016 and
2015.
(7) As of June 30, 2016, there are no payment guarantees and collaterals that the Consolidated Entity has
provided for the related parties to finance and no payment guarantees and collaterals that the Consolidated
Entity has been provided from the related parties.
26. TRANSFERS OF FINANCIAL ASSETS:
The Consolidated Entity transferred receivables to Privia 4th SPC, Privia 5th SPC, Super Series 1st and Super
Series 2nd SPC (hereafter, “SPC”) in order to securitize assets. SPC issued subordinate asset-backed securities
with transferred receivables as underlying asset, and as the Consolidated Entity is providing credit
reinforcement by acquiring such subordinate asset-backed securities, should any bad debt incur in receivables
being the underlying asset, the risk preferentially belongs to the Consolidated Entity. SPC has recourse to
drawer only with regard to the receivables transferred; even after transfer of receivables, the Consolidated
Entity owns majority of risks and indemnity for such asset.
Transferred financial assets that are not derecognized in their entirety and the associated liabilities as of June
30, 2016, and December 31, 2015, are as follows (Unit: Korean won in millions):
June 30,
2016
December 31,
2015
Securitized card assets
Book value of assets ￦ 3,345,342 ￦ 2,896,759
Book value of relevant liabilities 1,399,162 1,103,302
Liabilities that have recourse only to the transferred financial assets:
Fair value of assets 3,836,386 3,279,507
Fair value of relevant liabilities 1,408,036 1,110,368
Net position ￦ 2,428,350 ￦ 2,169,139

- 20 -
27. NETTING ON FINANCIAL ASSETS AND LIABILITIES:
Derivative assets and derivative liabilities recognized by the Consolidated Entity can be set off in accordance
with the future events described in derivative master netting agreements.
The effects of netting agreements as of June 30, 2016, and December 31, 2015, are as follows (Unit: Korean
won in millions):
June 30, 2016
Non-offsetting amount
Recognized
financial
assets and
liabilities
Offsetting
amount from
recognized
financial assets
and liabilities
Net amount
in the condensed
consolidated
statement of
financial
position
Financial
instruments
Cash
collateral
received Net amount
Financial assets:
Derivative assets ￦ 30,841 ￦ - ￦ 30,841 ￦ 2,952 ￦ - ￦ 27,889
Financial liabilities:
Derivative liabilities 21,551 - 21,551 2,952 - 18,599
December 31, 2015
Non-offsetting amount
Recognized
financial
assets and
liabilities
Offsetting
amount from
recognized
financial assets
and liabilities
Net amount
in the condensed
consolidated
statement of
financial position
Financial
instruments
Cash
collateral
received Net amount
Financial assets:
Derivative assets ￦ 39,584 ￦ - ￦ 39,584 ￦ 21 ￦ - ￦ 39,563
Derivative liabilities 17,744 - 17,744 21 - 17,723
28. FINANCIAL ASSETS AND LIABILITIES:
(1) The fair values of financial assets and liabilities as of June 30, 2016, and December 31, 2015, are as
June 30, 2016 December 31, 2015
Book value Fair value Book value Fair value
Assets:
Financial assets:
Cash and deposits ￦ 679,433 ￦ 679,433 ￦ 538,767 ￦ 538,767
Investment financial assets 806,105 806,105 461,695 461,695
Card assets 11,254,359 12,731,530 11,406,587 12,693,621
Other financial assets 203,864 203,864 214,031 214,031
Total ￦ 12,943,761 ￦ 14,420,932 ￦ 12,621,080 ￦ 13,908,114
Liabilities:
Borrowings ￦ 1,015,000 ￦ 1,017,641 ￦ 590,000 ￦ 590,070
Debentures 8,329,927 8,506,423 8,527,884 8,702,292
Other financial liabilities 1,242,580 1,242,580 1,246,644 1,246,644
Total ￦ 10,587,507 ￦ 10,766,644 ￦ 10,364,528 ￦ 10,539,006
The Consolidated Entity’s valuation techniques and relevant policies with regard to the fair value are the same
as those used for the previous period.

- 21 -
(2) Fair value hierarchy
All financial instruments at fair value are categorized into three fair value hierarchy levels. The method of
categorizing fair value hierarchy levels is the same as the one used for the previous period.
The table below provides the Consolidated Entity’s financial assets and liabilities recorded at fair value in the
condensed consolidated statement of financial position as of June 30, 2016, and December 31, 2015 (Unit:
June 30, 2016
Fair value hierarchy
Book value Fair value Level 1 Level 2 Level 3
Financial assets:
Trading securities ￦ 804,338 ￦ 804,338 ￦ - ￦ 804,338 ￦ -
Derivative assets 30,841 30,841 - 30,841 -
Derivative liabilities 21,551 21,551 - 21,551 -
December 31, 2015
Fair value hierarchy
Book value Fair value Level 1 Level 2 Level 3
Financial assets:
Trading securities ￦ 459,928 ￦ 459,928 ￦ - ￦ 459,928 ￦ -
Derivative assets 39,584 39,584 - 39,584 -
Derivative liabilities 17,744 17,744 - 17,744 -
The table below provides the Consolidated Entity’s financial assets and financial liabilities that are carried at
cost as the fair values of the financial instruments are not readily determinable in the condensed consolidated
statement of financial position as of June 30, 2016, and December 31, 2015 (Unit: Korean won in millions):
Description June 30, 2016 December 31, 2015
Investment financial assets:
AFS securities (*1) Unlisted equity securities ￦ 1,767 ￦ 1,767
(*1) AFS securities are recorded at cost as they do not have quoted prices in an active market and the fair
values are not reliably measured.
(3) The Consolidated Entity recognizes the transfers on the date of the event of change in circumstances that
caused the transfers.
(4) The following table explains valuation techniques and input variables used in Level 2 or Level 3 fair value
measurement. The valuation techniques and input variables of the financial assets and liabilities, which are
measured at amortized cost, are as follows:
Description Classification
Fair Value
(In millions of Korean won)
Current/Prior
Fair
Value
Hierarchy
Valuation Techniques
Notable
Unobservable
Inputs and
Extent
Card assets Assets ￦12,731,530 ￦12,693,621 Level 3 Discounted Cash Flow (“DCF”)
model is used to determine the
fair value of card assets. The fair
value is determined by
discounting the expected cash
flows with the market interest rate
considering the Consolidated
Entity’s credit grade.
Market rate of
profit, credit
spread,
liquidity
premium, other
spread and
discount rate
per creditors

- 22 -
Description Classification
Fair Value
(In millions of Korean won)
Current/Prior
Fair
Value
Hierarchy
Valuation Techniques
Notable
Unobservable
Inputs and
Extent
Leasehold
deposits
provided
Assets 33,030 32,467 Level 2 DCF model is used to determine
the fair value of lease deposits
provided. The fair value is
determined by discounting the
expected cash flows with the
market interest rate considering
the Consolidated Entity’s credit
grade.
N/A
Trading
securities
Assets 804,338 459,928 Level 2 DCF model is used to determine
the fair value of trading securities.
The fair value is determined by
considering the similar credit
grade with the debt security
issuer.
N/A
Borrowings Liabilities 9,524,064 9,292,362 Level 2 DCF model is used to determine
the fair value of borrowings. The
fair value is determined by
considering the Consolidated
Entity’s credit grade.
N/A
Leasehold
deposits
received
Liabilities 10,040 9,081 Level 2 DCF model is used to determine
the fair value of lease deposits
received. The fair value is
determined by discounting the
expected cash flows with the
market interest rate considering
the Consolidated Entity’s credit
grade.
N/A
Interest rate
swap
Assets - 21 Level 2 Discount rates and forward rates
used to measure fair values of
interest rate swap are determined
based on the applicable
constructed market-based yield
curve. The fair value is
determined by offsetting the
discounted expected cash flows of
interest rate swap with the
aforementioned forward rates.
N/A
Liabilities 18,598 17,744
Currency
swaps
Assets 30,841 39,563 Level 2 Discount rates and forward rates
used to measure fair values of
currency swaps are determined
based on the applicable
constructed market-based yield
curve. The trading base rate in the
morning of the report date is used
as currency swap’s exchange rate.
The fair value is determined by
offsetting the discounted expected
cash flows of currency swap with
the aforementioned forward rates
and closing price.
N/A
Liabilities 2,952 -

- 23 -
(5) Changes in financial assets and liabilities classified as Level 3 that are measured at fair value for the six
months ended June 30, 2016, and December 31, 2015, are as follows:
June 30, 2016
Begin
ning
Gains/
Losses
Other
Comprehensive
Income (Loss)
Purchases/
Issues
Sales/
Settlements To/From Level 3 Ending
Financial instruments:
Derivative assets ￦ - ￦ - ￦ - ￦ - ￦ - ￦ - ￦ -
December 31, 2015
Begin
ning
Gains/
Losses
Other
Comprehensive
Income (Loss)
Purchases/
Issues
Sales/
Settlements To/From Level 3 Ending
Financial instruments:
Derivative assets ￦80 ￦ - ￦ - ￦ - ￦ (80) ￦ - ￦ -
(6) There are no significant changes in business or economic environment, which affect fair values of financial
assets and liabilities held by the Consolidated Entity as of June 30, 2016.
29. FINANCIAL RISK MANAGEMENT:
The Consolidated Entity is exposed to credit, liquidity and market risks (exchange and rate risks). In order to
manage these factors, the Consolidated Entity operates risk management policies and programs that monitor
closely and respond to each of the risk factors. The Consolidated Entity uses derivatives to manage market
risks.
There was no significant change in the Consolidated Entity’s risk management division and policies after
December 31, 2015.
30. CAPITAL MANAGEMENT:
The Company (specialized credit finance company) must maintain adjusted capital adequacy ratio in
accordance with Specialized Credit Financial Business Law and subregulations, and the ratio for the credit card
company must be more than 8%.
This ratio is calculated dividing adjusted capital by adjusted total assets, and all factors are based on separate
financial statements.
The Company maintains an adjusted capital adequacy ratio of more than 8%.
Details of adjusted capital adequacy ratio as of June 30, 2016, and December 31, 2015, are as follows (Unit:
June 30, 2016 December 31, 2015
Adjusted total assets (A) ￦ 12,492,701 ￦ 12,107,908
Adjusted total capital (B) 2,186,903 2,060,972
Adjusted capital adequacy ratio (B/A) 17.51% 17.02%

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