3Q21_Audit_EN.pdf

HYUNDAICAPITALSERVICES,INC.ANDSUBSIDIARIES
CondensedConsolidatedInterimFinancialStatements
(Unaudited)
September30,2021
(WithIndependentAuditors’ReviewReportThereon)

HYUNDAI CAPITAL SERVICES, INC. AND SUBSIDIARIES
Table of Contents
Page
Independent Auditors’ Review Report 1
Condensed Consolidated Interim Statements of Financial Position 3
Condensed Consolidated Interim Statements of Comprehensive Income 5
Condensed Consolidated Interim Statements of Changes in Equity 7
Condensed Consolidated Interim Statements of Cash Flows 8
Notes to the Condensed Consolidated Interim Financial Statements 9

1
Independent Auditors’ Review Report
To the Board of Directors and Shareholders of
Hyundai Capital Services, Inc.
Reviewed Financial Statements
We have reviewed the accompanying condensed consolidated interim financial statements of Hyundai
Capital Services, Inc. and its subsidiaries (“the Group”), which comprise the condensed consolidated
statement of financial position as of September 30, 2021, the condensed consolidated statement of
comprehensive income for the three-month and nine-month periods ended September 30, 2021 and
2020, changes in equity and cash flows for the nine-month periods ended September 30, 2021 and 2020,
and notes, comprising a summary of significant accounting policies and other explanatory information.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these condensed consolidated
interim financial statements in accordance with Korean International Financial Reporting Standards (K-
IFRS) No.1034, Interim Financial Reporting, and for such internal control as management determines
is necessary to enable the preparation of financial statements that are free from material misstatement,
whether due to fraud or error.
Auditors’ Review Responsibility for the Review of the Consolidated Financial Statements
Our responsibility is to issue a report on these condensed consolidated interim financial statements
based on our reviews.
We conducted our reviews in accordance with the Review Standards for Quarterly and Semiannual
Financial Statements established by the Securities and Futures Commission of the Republic of Korea.
A review of interim financial information consists of making inquiries, primarily of persons responsible
for financial and accounting matters, and applying analytical and other review procedures. A review is
substantially less in scope than an audit conducted in accordance with Korean Standards on Auditing
and consequently does not enable us to obtain assurance that we would become aware of all significant
matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
Conclusion
Based on our reviews, nothing has come to our attention that causes us to believe that the accompanying
condensed consolidated interim financial statements referred to above are not prepared, in all material
respects, in accordance with K-IFRS No.1034, Interim Financial Reporting.

2
Other matters
The procedures and practices utilized in the Republic of Korea to review such condensed consolidated
interim financial statements may differ from those generally accepted and applied in other countries.
The consolidated statement of financial position of the Group as of December 31, 2020, and the related
consolidated statements of comprehensive income, changes in equity and cash flows for the year then
ended, which are not accompanying this report, were audited by us in accordance with Korean Standards
on Auditing and our report thereon, dated March 11, 2021, expressed an unqualified opinion. The
accompanying condensed consolidated statement of financial position of the Group as of December 31,
2020, presented for comparative purposes, is consistent, in all material respects, with the audited
consolidated financial statements from which it has been derived.
KPMG Samjong Accounting Corp.
Seoul, Republic of Korea
November 15, 2021
This report is effective as of November 15, 2021, the review report date. Certain subsequent events
or circumstances, which may occur between the review report date and the time of reading this report,
could have a material impact on the accompanying condensed consolidated interim financial
statements and notes thereto. Accordingly, the readers of the review report should understand that the
above review report has not been updated to reflect the impact of such subsequent events or
circumstances, if any.

Condensed Consolidated Interim Statements of Financial Position (Unaudited)
As of September 30, 2021 and December 31, 2020
(In millions of Korean won)
September 30, December 31,
Notes 2021 2020
Assets
Cash and due from other financial institutions
Cash and cash equivalents 4,27 W 556,455 406,065
Due from banks 4 16,794 26,731
Short-term financial investments 5 1,332,797 1,255,216
1,906,046 1,688,012
Securities
Investments in associates and joint ventures 8 1,441,440 1,267,078
Measured at fair value through profit or loss 6 13,852 11,590
Measured at fair value through other comprehensive income 7 58,114 64,320
1,513,406 1,342,988
Loans receivable 9,30
Loans receivable 10,307,774 9,695,297
Allowance for loan losses (431,873) (482,923)
9,875,901 9,212,374
Installment financial assets 9
Automobile installment financing receivables 13,892,611 14,664,950
Durable goods installment financing receivables 1 1
Allowance for loan losses (1) (1)
Mortgage installment financing receivables 106 364
Allowance for loan losses (18) (20)
13,753,185 14,523,446
Lease receivables 9
Finance lease receivables 2,377,930 2,447,425
Cancelled lease receivables 35,055 34,411
2,343,464 2,407,146
Leased assets 10
Operating lease assets 5,686,409 4,648,386
Accumulated depreciation (1,312,319) (1,045,594)
Accumulated impairment losses (705) (721)
Cancelled lease assets 21,500 25,872
Accumulated impairment losses (6,222) (6,263)
4,388,663 3,621,680
Property and equipment, net 12 194,088 201,783
Right-of-use assets, net 11 33,438 36,887
Other assets
Non-trade receivables 98,530 110,550
Allowance for doubtful accounts 9 (12,218) (12,362)
Accrued revenues 164,747 157,178
Allowance for doubtful accounts 9 (15,759) (17,510)
Advance payments 67,023 70,436
Prepaid expenses 113,563 108,785
Intangible assets 13 95,357 115,050
Derivative assets 17,31 376,122 93,533
Leasehold deposits 20,650 20,045
Net defined benefit assets 15 17,518 3,319
925,533 649,024
Total assets W 34,933,724 33,683,340
See accompanying notes to the condensed consolidated interim financial statements.
3

Condensed Consolidated Interim Statements of Financial Position (Unaudited) (Continued)
As of September 30, 2021 and December 31, 2020
Notes 2021 2020
Liabilities
Borrowed funds 14
Borrowings W 3,315,836 3,525,243
Bonds issued 25,190,894 23,814,413
28,506,730 27,339,656
Other liabilities
Non-trade payables 265,498 279,735
Accrued expenses 77,436 113,153
Unearned revenue 17,497 15,004
Withholdings 304,928 296,649
Derivative liabilities 17,31 30,015 359,095
Lease liabilities 11 32,242 35,183
Current tax liabilities 43,011 43,663
Employee benefit liabilities 15 7,455 7,587
Deposits received 235,904 245,885
Deferred income tax liabilities 195,929 129,081
Provisions 16 95,591 86,526
Other 29 —
1,305,535 1,611,561
Total liabilities 29,812,265 28,951,217
Equity
Equity attributable to the owners of the Company
Issued capital 496,537 496,537
Capital surplus 388,613 388,613
Accumulated other comprehensive income (loss) 26 91,240 (41,006)
Retained earnings 18 4,145,069 3,887,979
5,121,459 4,732,123
Non-controlling interests — —
Total equity 5,121,459 4,732,123
Total liabilities and equity W 34,933,724 33,683,340
4

Condensed Consolidated Interim Statements of Comprehensive Income (Unaudited)
For the three-month and nine-month periods ended September 30, 2021 and 2020
(In millions of Korean won except for Earnings per share)
Three-month periods Nine-month periods
ended September 30, ended September 30,
Notes 2021 2020 2021 2020
Continuing operations
Operating revenue
Interest income 19 W 1,936 3,930 7,409 14,329
Gain on valuation and sale of securities 161 288 538 803
Income on loans 19,20 198,747 201,523 588,445 607,185
Income on installment financial assets 19,20 154,747 155,262 471,708 466,774
Income on leases 19,20,21 346,242 298,575 1,002,578 829,237
Gain on sale of loans 1 6,715 4 70,555
Gain on foreign currency transactions (9,641) 21,556 4,014 35,267
Dividend income — 84 519 1,144
Other operating income 22 314,732 (54,356) 584,196 270,289
Total operating revenue 1,006,925 633,577 2,659,411 2,295,583
Operating expenses
Interest expense 19 138,208 145,852 414,693 443,696
Lease expense 20,21 263,751 209,675 750,810 623,820
Loss on valuation and sale of securities 124 (15) 668 1,600
Provision for loan losses 9 32,142 52,536 122,152 187,966
Loss on sale of loans 55 1,099 117 4,791
Loss on foreign currency transactions 283,385 (86,207) 480,885 154,518
General and administrative expenses 23 146,430 150,511 447,677 450,319
Other operating expenses 22 4,618 45,195 63,839 107,830
Total operating expenses 868,713 518,646 2,280,841 1,974,540
Operating income 138,212 114,931 378,570 321,043
Non-operating income
Share in net income of associates and joint ventures
under the equity method 8 19,073 20,729 76,394 59,665
Gain on sale of property and equipment — 190 65 254
Gain on sale of intangible assets — — — 89
Gain on sale of assets held-for-sale — — 293 3,324
Other 1,002 1,247 2,782 8,736
Total non-operating income 20,075 22,166 79,534 72,068
Non-operating expenses
Share in net loss of associates and joint ventures
under the equity method 8 495 323 1,022 485
Loss on sale of property and equipment — 604 177 655
Loss on sale of intangible assets — 71 68 73
Donation 8 38 105 194
Other — — 91 333
Total non-operating expenses 503 1,036 1,463 1,740
Profit before income taxes 157,784 136,061 456,641 391,371
Income tax expense 24 39,499 29,878 108,337 92,174
Profit from continuing operations 118,285 106,183 348,304 299,197
Profit(Loss) from discontinued operations, net of tax 35 3,093 (2,384) 546 (9,135)
Profit for the period W 121,378 103,799 348,850 290,062
5

Condensed Consolidated Interim Statements of Comprehensive Income (Unaudited)(Continued)
For the three-month and nine-month periods ended September 30, 2021 and 2020
(In millions of Korean won except for Earnings per share)
Three-month periods Nine-month periods
ended September 30, ended September 30,
Notes 2021 2020 2021 2020
Other comprehensive income (loss), 26
net of income taxes
Items that will never be reclassified to profit or loss:
Remeasurements of defined benefit plans W 781 (791) 1,253 (2,665)
Net change in unrealized gains and losses on
equity securities measured at fair value
through other comprehensive income (6,332) 2,587 (6,719) 8,299
Items that are or may be reclassified
subsequently to profit or loss:
Share in other comprehensive income
of associates and joint ventures
under the equity method 31,847 10,677 64,607 15,695
Net change in effective portion of
cash flow hedges 11,035 28,242 71,447 (37,137)
Net change in foreign currency
translation adjustments 889 (1,635) 1,757 (2,458)
Net change in unrealized valuation gains and losses
on debt securities measured at fair value through
other comprehensive income (42) (309) (99) (439)
Total other comprehensive income (loss),
net of income taxes 38,178 38,770 132,246 (18,705)
Total comprehensive income for the period W 159,555 142,569 481,096 271,357
Profit attributtable to:
Owners of the Company
Countinuing operations W 118,285 106,183 348,305 299,197
Discontinued operations 3,093 (2,384) 545 (9,135)
Non-controlling interests — — — —
W 121,378 103,799 348,850 290,062
Total comprehensive income
attributtable to:
Owners of the Company W 159,555 142,569 481,096 271,357
Non-controlling interests — — — —
W 159,555 142,569 481,096 271,357
Earnings per share 25
Basic and diluted earnings per share of continuing operations (in won) W 1,191 1,069 3,507 3,013
Basic and diluted earnings per share of discontinued operations (in won) 31 (24) 5 (92)
6

Condensed Consolidated Interim Statements of Changes in Equity (Unaudited)
For the nine-month periods ended September 30, 2021 and 2020
Equity attributable to owners of the Company
Capital surplus Accumulated
Issued Additional paid-in Other capital other compre Retained Total
Capital capital surplus -hensive income (loss) earnings equity
Balances as of January 1, 2020 W 496,537 369,339 19,274 (62,453) 3,628,884 4,451,581
Total comprehensive income (expense)
Profit for the period — — — — 290,062 290,062
Other comprehensive income (expense):
Share in other comprehensive income of associates and joint ventures
under the equity method — — — 15,695 — 15,695
Net change in effective portion of cash flow hedges — — — (37,137) — (37,137)
Net change in foreign currency translation adjustments — — — (2,458) — (2,458)
Remeasurements of defined benefit plans — — — (2,665) — (2,665)
Net change in unrealized gains and losses on equity securities
measured at fair value through other comprehensive income — — — 8,299 — 8,299
Net change in unrealized valuation gains and losses on debt securities
measured at fair value through other comprehensive income — — — (439) — (439)
Total comprehensive income (expense) — — — (18,705) 290,062 271,357
Transaction with owners of the Company
Annual dividends — — — — (89,476) (89,476)
Balances as of September 30, 2020 W 496,537 369,339 19,274 (81,158) 3,829,470 4,633,462
Balances as of January 1, 2021 W 496,537 369,339 19,274 (41,006) 3,887,979 4,732,123
Total comprehensive income
Profit for the period — — — — 348,850 348,850
Other comprehensive income (loss):
Share in other comprehensive income of associates and joint ventures
under the equity method — — — 64,607 — 64,607
Net change in effective portion of cash flow hedges — — — 71,447 — 71,447
Net change in foreign currency translation adjustments — — — 1,757 — 1,757
Remeasurements of defined benefit plans — — — 1,253 — 1,253
Net change in unrealized gains and losses on equity securities
measured at fair value through other comprehensive income — — — (6,719) — (6,719)
Net change in unrealized valuation gains and losses on debt securities
measured at fair value through other comprehensive income — — — (99) — (99)
Total comprehensive income — — — 132,246 348,850 481,096
Transaction with owners of the Company
Annual dividends — — — — (91,760) (91,760)
Balances as of September 30, 2021 W 496,537 369,339 19,274 91,240 4,145,069 5,121,459
7

Condensed Consolidated Interim Statements of Cash Flows (Unaudited)
For the nine-month periods ended September 30, 2021 and 2020
Notes 2021 2020
Cash flows from operating activities
Cash generated from operations 27 W 134,404 569,222
Interest received 7,248 14,432
Interest paid (430,938) (447,602)
Dividends received 519 1,144
Income taxes paid (82,885) (75,577)
Net cash provided by (used in) operating activities (371,652) 61,619
Cash flows from investing activities 27
Dividends received from associates and joint ventures 13,873 70
Acquisition of investments in associates and joint ventures (27,630) (330,158)
Acquisition of property and equipment (7,878) (6,335)
Proceeds from sale of property and equipment 87 4,059
Acquisition of intangible assets (14,470) (14,836)
Proceeds from sale of intangible assets 4,069 354
Increase in leasehold deposits (1,909) (1,719)
Decrease in leasehold deposits 1,264 2,107
Proceeds from sale of non-current assets held for sale 5,473 15,000
Proceeds from sale of a disposal group classified as held for sale 8,000 —
Net cash used in investing activities (19,121) (331,458)
Cash flows from financing activities 27
Proceeds from borrowings 1,820,520 2,642,302
Repayments of borrowings (2,041,451) (1,826,065)
Proceeds from issue of bonds 7,729,627 4,491,477
Repayments of bonds (6,804,780) (4,868,670)
Net increase in derivative financial instruments (58,845) 20,952
Repayments of lease liabilities (12,147) (11,551)
Dividends paid (91,760) (89,476)
Net cash provided by financing activities 541,164 358,969
Net increase in cash and cash equivalents 150,391 89,130
Cash and cash equivalents at beginning of the period 27 406,065 351,085
Cash and cash equivalents in the statements of
financial position at end of the period 27 W 556,456 440,215
8

Notes to the Condensed Consolidated Interim Financial Statements
(Unaudited)
September 30, 2021
9
1. Reporting Entity
Hyundai Capital Services, Inc. (“the Company”) was established on December 22, 1993, to engage
in installment financing, facilities leasing and new technology financing. The Company changed its
trade name from Hyundai Auto Finance Co., Ltd. to Hyundai Financial Services Co. on April 21, 1995,
and changed its trade name once again to Hyundai Capital Services, Inc. on December 30, 1998. In
accordance with the Monopoly Regulation and Fair-Trade Act, the Company is incorporated into
Hyundai Motor Company Group. As of September 30, 2021, the Company’s operations are
headquartered at 3 Uisadang-daero, Yeongdeungpo-gu, Seoul, Korea. Its major shareholders are
Hyundai Motor Company and Kia Corporation with 59.68% and 20.10% ownership, respectively.
The consolidated financial statements include the accounts of the Company and its subsidiaries,
including Autopia 64th
Asset Securitization Specialty Company (ABS SPC) with trust for the
securitization, and other subsidiaries as summarized below (collectively, “the Group”). Investments in
Beijing Hyundai Auto Finance Co., Ltd. and seven other associates and joint ventures are accounted for
under the equity method.
(1) The Group’s subsidiaries
Subsidiaries as of September 30, 2021 and December 31, 2020 are as follows:
(*1) ABS SPCs are established for asset liquidation purposes. Although the Group owns less than
50% of the shares of subsidiaries, it is considered that the Group has control over the companies as it is
exposed, or has rights, to variable returns from its involvement with the investees and has the ability to
affect those returns through its power over the investees.
(*2) It is established to finance real estate projects. Although the Group owns less than 50% of the
shares of subsidiary, it is considered that the Group has control over the company as it is exposed, or
has rights, to variable returns from its involvement with the investee and has the ability to affect those
returns through its power over the investee.
(*3) Hyundai Capital Europe GmbH holds 100% ownership interests of Hyundai Capital Services
Limited Liability Company in Russia.
Ownership September 30, December 31,
Location (%) 2021 2020
Asset securitization vehicles:
Korea 0.5 Autopia 64th
, 65th
, 66th
, 67th
, 68th
, 69th
Autopia 63rd
, 64th
, 65th
, 66th
, 67th
, 68th
70th
, 71st
and 72nd
ABS SPCs (*1) 69th
and 70th
ABS SPCs (*1)
Structured Entity:
Korea ㅡ Zavurov First Co., Ltd. (*2) Zavurov First Co., Ltd. (*2)
Limited liability companies:
Germany 100 Hyundai Capital Europe GmbH (*3) Hyundai Capital Europe GmbH (*3)
India 100 Hyundai Capital India Private Ltd. Hyundai Capital India Private Ltd.
Brazil 100 Hyundai Capital Brasil LTDA Hyundai Capital Brasil LTDA
Australia 100 Hyundai Capital Australia Pty Limited Hyundai Capital Australia Pty Limited
Indonesia 100 PT. Hyundai Capital Indonesia PT. Hyundai Capital Indonesia
Trusts:
Korea 100 Specified money trust (21 trusts) Specified money trust (16 trusts)

(Unaudited)
September 30, 2021
10
(2) Changes in subsidiaries
Subsidiaries that were included in and excluded from the Group’s consolidated financial
statements, except for changes in the number of specified money trust accounts in which the Group
invests, during the nine-month period ended September 30, 2021 are as follows:
(a) Subsidiaries newly included in the consolidated financial statements during the nine-month
period ended September 30, 2021
• Autopia 71st
, 72nd
and ABS SPCs (including trust for asset securitization): structured entity
newly established for the Autopia asset securitization program.
(b) Subsidiaries excluded from the consolidated financial statements during the nine-month
period ended September 30, 2021
• Autopia 63rd
ABS SPC (including trusts for asset securitization): structured entity dissolved.
(3) Key financial information of subsidiaries
Key financial information of subsidiaries as of and for the nine-month period ended September 30,
2021 is summarized as follows:
(4) Nature of risks related to consolidated structured entities
As of September 30, 2021, the Company provides guarantees to the counterparties of currency
swaps at Autopia 68th
and 69th
ABS SPCs, structured entities that the Group consolidates, in relation to
asset backed securitized notes issued. These guarantees would require the Company to reimburse the
swap counterparties for losses that they incur if these structured entities do not perform in accordance
with the contractual terms of the swaps.
(in millions of Korean won) Total
compre-
Operating Profit (loss) hensive
Assets Liabilities Equity revenue for the period income (loss)
Hyundai Capital Europe GmbH W 24,498 1,220 23,278 7,917 1,851 3,522
Hyundai Capital India Private Ltd. 859 172 687 971 48 93
Hyundai Capital Brasil LTDA 274 — 274 259 (50) (38)
Hyundai Capital Australia Pty Limited 1,087 57 1,030 969 56 71
PT. Hyundai Capital Indonesia 211 15 196 209 (14) (1)
Autopia ABS SPCs 4,807,985 4,806,335 1,650 169,567 2,056 10,934
Autopia ABS trusts 7,570,526 7,518,744 51,782 176,437 18,316 18,316
Zavurov First Co., Ltd. 30,284 30,309 (25) 1,127 29 29
Specified money trusts 658,717 — 658,717 (83) (83) (83)

(Unaudited)
September 30, 2021
11
2. Basis of Preparation
(1) Statement of compliance
The condensed consolidated interim financial statements have been prepared in accordance with
Korean International Financial Reporting Standards (K-IFRS), as prescribed in the Act on External
Audits of Stock Companies, Etc. in the Republic of Korea.
These condensed consolidated interim financial statements were prepared in accordance with K-
IFRS No. 1034, Interim Financial Reporting, as part of the period covered by the Group’s K-IFRS
annual financial statements. Selected explanatory notes are included to explain events and transactions
that are significant to an understanding of the changes in financial position and performance of the
Group since the last annual consolidated financial statements as at and for the year ended December 31,
2020. These condensed consolidated interim financial statements do not include all of the disclosures
required for full annual financial statements.
(2) Use of estimates and judgments
The preparation of the condensed consolidated interim financial statements in conformity with K-
IFRS requires management to make judgments, 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 COVID-19 impact on the macroeconomic factors is reflected in the forward-looking
information in calculation of the expected credit loss (ECL) allowance. The Group has been monitoring
the impact of the pandemic on the global economy, the Group’s business and its financial position.
In preparing these condensed consolidated interim financial statements, the significant judgments
made by management in applying the Group’s accounting policies and the key sources of estimation
uncertainty except for changes described in Note 3. (1) were the same as those that were applied to the
consolidated financial statements as of and for the year ended December 31, 2020.
(3) Measurement of fair value
The Group is establishing fair value assessment policies and procedures. These policies and
procedures include the operation of the assessment department responsible for reviewing all significant
fair value measurements, including fair value classified as level 3 of the fair value hierarchy, and the
results are reported directly to the financial officer.
The Group regularly reviews significant unobservable inputs and valuation adjustments. If third
party information, such as broker quotes or pricing services, is used in measuring fair values, then the
Group assesses the evidence obtained from the third parties to support the conclusion that such
valuations meet the requirements of K-IFRS, including the level in the fair value hierarchy.
When measuring the fair value of an asset or a liability, the Group uses market observable data as
far as possible. 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: inputs other than quoted prices included in Level 1 that are observable for the asset
or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).
• Level 3: inputs for the asset or liability that are not based on observable market data
(unobservable inputs).

(Unaudited)
September 30, 2021
12
If the inputs used in measuring the fair value of an asset or a liability might be categorized in
different levels of the fair value hierarchy, then the fair value measurement is categorized in its entirety
in the same level of the fair value hierarchy as the lowest level input that is significant to the entire
measurement.
The Group recognizes transfers between levels of the fair value hierarchy at the end of the reporting
period during which the change has occurred.
Further information about the assumptions made in measuring fair values is included in Note 32.
3. Significant Accounting Policies
The significant accounting policies applied by the Group in preparation of its condensed
consolidated interim financial statements are included below.
(1) Changes in accounting policies
Except as described below, the accounting policies applied by the Group in these consolidated
financial statements are the same as those applied by the Group in its consolidated financial statements
as of and for the year ended December 31, 2020. The Group has applied the following new standards,
with a date of initial application of January 1, 2021.
K-IFRS No.1109, ‘Financial Instruments’, K-IFRS No.1039 Financial Instruments: Recognition
and Measurement, K-IFRS No.1107, ‘Financial Instruments: Disclosures’, K-IFRS 1104 ‘Insurance
Contracts, and K-IFRS No.1116, ‘Leases’- Interest rate benchmark reform
The amendments permit changes required by interest rate benchmark reform to be made to
financial instrument measured at amortized cost by updating the effective interest rate (EIR) without
adjusting the carrying amount, and to hedge designations and hedge documentation without the hedging
relationship being discontinued.
Further information about interest rate benchmark reform is included in Note 17, 28.
(2) New accounting standards issued but not yet effective
A number of new standards and amendments are issued but not yet effective from annual period
beginning after January 1, 2021, where early adoption is allowed. The followings are newly required
standards and amendments that the Group decided not to early adopt in preparation of these consolidated
financial statements.
K-IFRS No.1037, ‘Provisions, Contingent Liabilities and Contingent Assets’
In identifying onerous contracts, the amendments added a principle about the extent to which
contract costs should be unavoidable costs directly related to the contract and other cost allocations.
K-IFRS No.1016, ‘Property, Plant and Equipment’
The amendment prohibits deducting the net sale amount of goods produced in the test process from
the acquisition cost before using the property, plant and equipment in the intended manner, and requires
the sale and related costs to be recognized in profit or loss.
K-IFRS No.1103, ‘Business Combinations’
The framework referred in the definition of assets and liabilities in K-IFRS 1103 is replaced with the
framework revised in 2018. When measuring liabilities and contingent liabilities where K-IFRS

(Unaudited)
September 30, 2021
13
No.1037 'Provisions, Contingent Liabilities and Contingent Asset' and K-IFRS No.2121 'Levies' are
applicable, the definition follows each standard instead of K-IFRS 1103.
K-IFRS No.1008, ‘Accounting Policies, Changes in Accounting Estimates and Errors’
The definition of 'changes in accounting estimates' are deleted and the term 'accounting estimates'
are added to define it as 'amount of money in financial statements affected by measurement uncertainty'.
It is also clarified that changes in inputs or measurement techniques used in development of accounting
estimates are changes in accounting estimates unless they are correction of error.
K-IFRS No.1012, ‘Income Taxes’
The scope of the Deferred Tax Exemption Regulation is clarified by revising the recognition of
deferred tax only for transactions where assets and liabilities are recognised for the first time at the same
time except for business combinations and where the same amount of offsetable temporary difference
occurs at the transaction date.
4. Due from Banks
Restricted accounts in due from banks as of September 30, 2021 and December 31, 2020 are as
follows:
5. Short-term Financial Investments
Short-term financial investments as of September 30, 2021 and December 31, 2020 are as follows:
For liquidity management, the Group holds floating money in excess of immediate funding needs.
These excess funds are invested in short-term, highly liquid and investment grade money market
instruments, which provide liquidity for the Group’s short-term funding needs and flexibility in the use
of other funding sources.
(in millions of Korean won) September 30, December 31,
2021 2020 Restriction
Nonghyup Bank and 2 others W 16,400 16,400 Loans secured by saving accounts
Hana Bank and 2 others 10 10 Key money deposits for checking account
Citi Bank and 7 others 74,285 29,404 Deposits in trust of ABS SPCs
W 90,695 45,814
(in millions of Korean won) Carrying amount
Acquisition September 30, December 31,
cost 2021 2020
Commercial paper W 937,304 937,543 1,037,986
Bank debenture 241,114 241,757 126,870
Government and public bonds 153,500 153,497 90,360
W 1,331,918 1,332,797 1,255,216

(Unaudited)
September 30, 2021
14
6. Securities Measured at Fair Value through Profit or Loss
Securities measured at fair value through profit or loss as of September 30, 2021 and December 31,
2020 are as follows:
(*1) The Group recognized impairment losses except for memorandum values in prior years.
(*2) The fair values of the debt securities are quoted from an independent valuation service provider,
using the valuation technique based on the NAV (net asset value) approach or the dividend discount
model.
(*3) It is measured at acquisition cost as the information is not enough for fair value measurement.
2021 2020
Equity securities (*1) W — —
Debt securities (*2)
Multi asset KDB Ocean value up Private Fund Special Asset Trust 8 4,252 5,216
Asia Pacific No.49 Ship Investment Co., Ltd. — 374
Wooricard Auto 1st
Private Placing Corporate Bond (*3) 3,000 3,000
KB Capital Auto 3rd
ABS SPC (Equity tranche) (*3) 3,000 3,000
KB Capital Auto 4th
ABS SPC (Equity tranche) (*3) 1,800 —
JB Woori Capital Auto 23rd
ABS SPC (Equity tranche) (*3) 1,800 —
13,852 11,590
W 13,852 11,590

(Unaudited)
September 30, 2021
15
7. Securities Measured at Fair Value through Other Comprehensive Income
Securities measured at fair value through other comprehensive income as of September 30, 2021
and December 31, 2020 are as follows:
(*1) The equity securities the Group holds for the purposes of strategic alliance and others are
designated as securities measured at fair value through other comprehensive income.
(1) Equity Securities
(*1) The fair value of HYUNDAI M Partners Co., Ltd. is estimated at the appraisal value quoted
from an independent valuation service provider.
2021 2020
Equity securities (*1)
Listed equity securities W 36,616 43,437
Unlisted equity securities 14,664 16,708
51,280 60,145
Debt securities
Government and public bonds 901 1,668
Corporate bonds 5,933 2,507
6,834 4,175
W 58,114 64,320
(in millions of Korean won)
Number of shares Ownership September 30, December 31,
(in shares) (%) 2021 2020
Listed equity securities
NICE Information Service Co., Ltd. 1,365,930 2.25 W 27,865 33,875
NICE Holdings Co., Ltd. 491,620 1.30 8,751 9,562
Unlisted equity securities
HYUNDAI M Partners Co., Ltd. (*1) 1,700,000 9.29 14,664 16,708
W 51,280 60,145
Carrying amount

(Unaudited)
September 30, 2021
16
(2) Debt Securities
(*1) The fair value of Seoul Metropolitan Rapid Transit Corp. and other Korean municipal bonds
are quoted from securities companies.
(*2) The fair value of KB Capital Auto 3rd
ABS SPC (Mezzanine tranche), KB Capital Auto 4th
ABS SPC (Mezzanine tranche) and JB Woori Capital Auto 23rd
ABS SPC (Mezzanine tranche) are
quoted from an independent valuation service provider. The fair value of Veritas 1st
ABS SPC was
measured as acquisition cost due to the low importance of the amount of the acquisition cost.
Issuer 2021 2020
Government and Seoul Metropolitan Rapid
public bonds (*1) Transit Corp. and other
Korean municipal bonds W 901 1,668
Corporate bonds (*2) Veritas 1
st
ABS SPC — 1,007
KB Capital Auto 3rd
ABS SPC
(Mezzanine tranche) 1,486 1,500
KB Capital Auto 4
th
ABS SPC
(Mezzanine tranche) 2,961 —
JB Woori Capital Auto 23rd
ABS SPC
(Mezzanine tranche) 1,486 —
W 6,834 4,175

(Unaudited)
September 30, 2021
17
8. Investments in Associates and Joint Ventures
(1) Details of investments in associates and joint ventures
Details of investments in associates and joint ventures as of September 30, 2021 and December 31,
(*1) While the Group holds less than 20% of the voting rights, it has the ability to exercise
significant influence through representation on the board of directors or equivalent governing body of
the investee. Therefore, investments in these entities are accounted for using the equity method.
(*2) Both the Group and the other participants have rights to purchase or sell all shares held by the
parties in the cases of termination of the joint venture agreement, violation of any Brazilian Law or
others. The Group judged that the rights are not substantive as of September 30, 2021.
(*3) Beijing Hyundai Auto Finance Co., Ltd., Hyundai Corretora de Seguros LTDA. and BAIC
Hyundai Leasing Co. Ltd. are classified as joint ventures.
(*1) While the Group holds less than 20% of the voting rights, it has the ability to exercise
significant influence through representation on the board of directors or equivalent governing body of
the investee. Therefore, investments in these entities are accounted for using the equity method.
(*2) Both the Group and the other participants have rights to purchase or sell all shares held by the
parties in the cases of termination of the joint venture agreement, violation of any Brazilian Law or
others. The Group judged that the rights are not substantive as of December 31, 2020.
(*3) Beijing Hyundai Auto Finance Co., Ltd., Hyundai Corretora de Seguros LTDA. and BAIC
Hyundai Leasing Co. Ltd. are classified as joint ventures.
September 30, 2021
Principal Date of
Ownership place of financial
(%) business statements Industry
Korea Credit Bureau (*1) 7.00 Korea 09/30/2021 Credit information service
Hyundai Capital UK Ltd. 29.99 U.K. 09/30/2021 Credit finance business
Beijing Hyundai Auto Finance Co., Ltd. (*3) 46.00 China 09/30/2021 Credit finance business
Hyundai Capital Canada Inc. 20.00 Canada 09/30/2021 Credit finance business
Hyundai Capital Bank Europe GmbH 49.00 Germany 09/30/2021 Credit finance business
BANCO HYUNDAI CAPITAL BRASIL S.A. (*2) 50.00 Brazil 09/30/2021 Credit finance business
Hyundai Corretora de Seguros LTDA.(*2,3) 50.00 Brazil 09/30/2021 Insurance brokerage
BAIC Hyundai Leasing Co., Ltd. (*3) 40.00 China 09/30/2021 Financial leasing
December 31, 2020
Principal Date of
Ownership place of financial
(%) business statements Industry
Korea Credit Bureau (*1) 7.00 Korea 12/31/2020 Credit information service
Hyundai Capital UK Ltd. 29.99 U.K. 12/31/2020 Credit finance business
Beijing Hyundai Auto Finance Co., Ltd. (*3) 46.00 China 12/31/2020 Credit finance business
Hyundai Capital Canada Inc. 20.00 Canada 12/31/2020 Credit finance business
Hyundai Capital Bank Europe GmbH (*4) 49.00 Germany 12/31/2020 Credit finance business
BANCO HYUNDAI CAPITAL BRASIL S.A. (*2) 50.00 Brazil 12/31/2020 Credit finance business
Hyundai Corretora de Seguros LTDA.(*2,3) 50.00 Brazil 12/31/2020 Insurance brokerage
BAIC Hyundai Leasing Co. Ltd. (*3) 40.00 China 12/31/2020 Financial leasing

(Unaudited)
September 30, 2021
18
(*4) Hyundai Capital Bank Europe GmbH acquired 92.07% of shares of Allane SE(formerly Sixt
Leasing SE) in Germany during the year ended December 31, 2020.
(2) Summary of financial information of investees
Summary of financial information of investees as of September 30, 2021 and December 31, 2020,
for assets and liabilities, and for the nine-month periods ended September 30, 2021 and 2020, for
revenue and income, and the reconciliation of investee’s net assets to the carrying amount of the
investments in the Group’s financial statements are as follows:
(in millions of Korean won) September 30, 2021
The
Group’s
Total Total Issued Total share in Carrying
assets liabilities capital equity net assets Goodwill amount
Korea Credit Bureau W 130,426 42,689 10,000 87,737 6,142 1,037 7,179
Hyundai Capital UK Ltd. 5,881,070 5,379,667 96,055 501,403 150,371 — 150,371
Beijing Hyundai Auto Finance Co., Ltd. 5,472,737 4,116,264 708,965 1,356,473 623,978 — 623,978
Hyundai Capital Canada Inc. 4,313,122 3,877,667 346,758 435,455 87,091 2,387 89,478
BANCO HYUNDAI CAPITAL BRASIL S.A. 859,043 779,452 91,529 79,591 39,796 — 39,796
Hyundai Corretora de Seguros LTDA. 910 946 617 (36) — — —
Hyundai Capital Bank Europe GmbH 6,964,686 5,946,079 14,282 1,018,607 487,574 24,087 511,661
BAIC Hyundai Leasing Co., Ltd. 110,485 63,039 50,603 47,446 18,978 — 18,978
(in millions of Korean won) Nine-month period ended September 30, 2021
Other Total
compre- compre-
Operating Interest Interest Net hensive hensive
revenue income expense income(loss) income income(loss) Dividends
Korea Credit Bureau W 91,862 78 — 15,648 — 15,648 1,000
Hyundai Capital UK Ltd. 119,661 116,613 22,844 68,879 30,555 99,434 —
Beijing Hyundai Auto Finance Co., Ltd. 317,261 313,956 133,229 85,281 116,492 201,773 30,006
Hyundai Capital Canada Inc. 413,188 387,333 326,001 47,567 26,662 74,229 —
BANCO HYUNDAI CAPITAL BRASIL S.A. 65,071 65,071 26,831 8,512 3,269 11,781 —
Hyundai Corretora de Seguros LTDA. 171 — — (192) 1 (191) —
Hyundai Capital Bank Europe GmbH 519,362 60,113 19,475 4,246 26,494 30,740 —
BAIC Hyundai Leasing Co., Ltd. 6,324 — — (4,039) 4,273 234 —

(Unaudited)
September 30, 2021
19
(in millions of Korean won) December 31, 2020
The
Group’s
Total Total Issued Total share in Carrying
assets liabilities capital equity net assets Goodwill amount
Korea Credit Bureau W 117,077 37,599 10,000 79,478 5,564 1,037 6,601
Hyundai Capital UK Ltd. 5,081,734 4,679,765 96,055 401,969 120,550 — 120,550
Beijing Hyundai Auto Finance Co., Ltd. 6,077,427 4,892,720 708,965 1,184,707 544,965 — 544,965
Hyundai Capital Canada Inc. 2,707,455 2,484,379 208,608 223,076 44,616 2,193 46,809
Hyundai Capital Bank Europe GmbH 5,635,284 4,648,027 14,282 987,257 472,534 23,465 495,999
BANCO HYUNDAI CAPITAL BRASIL S.A. 627,638 559,914 91,529 67,724 33,862 — 33,862
Hyundai Corretora de Seguros LTDA. 665 510 617 155 77 — 77
BAIC Hyundai Leasing Co. Ltd. 58,655 13,120 50,603 45,535 18,214 — 18,214
Other Total
compre- compre-
Operating Interest Interest Net hensive hensive
revenue income expense income(loss) income income(loss) Dividends
Korea Credit Bureau W 77,957 49 — 13,268 — 13,268 1,000
Hyundai Capital UK Ltd. 118,514 115,890 32,617 44,412 (3,111) 41,301 —
Beijing Hyundai Auto Finance Co., Ltd. 328,657 321,340 139,539 83,190 40,713 123,903 —
Hyundai Capital Canada Inc. 381,198 321,248 275,720 16,807 (6,042) 10,765 —
Hyundai Capital Bank Europe GmbH 246,655 48,643 15,843 2,796 30,116 32,912 —
BANCO HYUNDAI CAPITAL BRASIL S.A. 46,780 46,780 18,988 5,959 (24,462) (18,503) —
Hyundai Corretora de Seguros LTDA. 27 — — (174) (128) (302) —
BAIC Hyundai Leasing Co., Ltd. 82 — — (975) 1,043 68 —

(Unaudited)
September 30, 2021
20
(3) Reconciliation of changes in investments in associates and joint ventures
The following tables present a reconciliation of changes in the carrying amounts of investments in
associates and joint ventures for the nine-month periods ended September 30, 2021 and 2020:
(4) Suspension of recognizing loss of equity method
The accumulated unreflected change in shares that were not recognized due to the suspension of
the equity method as of September 30, 2021 and December 31, 2020 are as follows:
Share in
other
compre-
Opening Share in hensive Closing
balance Acquisition net income income Dividends balance
Korea Credit Bureau W 6,601 — 648 — (70) 7,179
Hyundai Capital UK Ltd. 120,550 — 20,658 9,163 — 150,371
Beijing Hyundai Auto Finance Co., Ltd. 544,965 — 39,228 53,587 (13,802) 623,978
Hyundai Capital Canada Inc. 46,809 27,630 9,513 5,526 — 89,478
BANCO HYUNDAI CAPITAL BRASIL S.A. 33,862 — 4,299 1,635 — 39,796
Hyundai Corretora de Seguros LTDA. 77 — (78) 1 — —
Hyundai Capital Bank Europe GmbH 495,999 — 2,048 13,614 — 511,661
BAIC Hyundai Leasing Co., Ltd. 18,214 — (944) 1,708 — 18,978
W 1,267,077 27,630 75,372 85,234 (13,872) 1,441,441
Share in
other
compre-
Opening Share in hensive Closing
balance Acquisition net income income (loss) Dividends balance
Korea Credit Bureau W 5,697 — 965 — (70) 6,592
Hyundai Capital UK Ltd. 104,905 — 13,319 (933) — 117,291
Beijing Hyundai Auto Finance Co., Ltd. 501,495 — 38,267 18,728 — 558,490
Hyundai Capital Canada Inc. 44,439 — 3,972 (1,231) — 47,180
Hyundai Capital Bank Europe GmbH 159,948 330,158 143 16,019 — 506,268
BANCO HYUNDAI CAPITAL BRASIL S.A. 42,194 — 3,000 (12,231) — 32,963
Hyundai Corretora de Seguros LTDA. 269 — (87) (64) — 118
BAIC Hyundai Leasing Co., Ltd. 11,252 — (399) 418 — 11,271
W 870,199 330,158 59,180 20,706 (70) 1,280,173
2021 2020
Hyundai Corretora de Seguros LTDA W (18) —
Accumulated unreflected loss of equity method
2021 2020
Hyundai Corretora de Seguros LTDA W (18) —
Nine-month period ended September 30,
Unreflected loss of equity method

(Unaudited)
September 30, 2021
21
9. Financial Receivables
(1) Carrying amount
Financial receivables measured at amortized costs as of September 30, 2021 and December 31,
Deferred
loan costs,
net of fees
(Initial
Unpaid direct fees,
outstanding net of costs Present Allowance
principal on finance value for loan Carrying
balance leases) discounts losses amount
Loans receivable
Loans W 10,263,424 45,600 (1,250) (431,873) 9,875,901
Installment financial assets
Automobile 14,145,081 (252,470) — (139,514) 13,753,097
Durable goods 1 — — (1) —
Mortgage 105 1 — (18) 88
14,145,187 (252,469) — (139,533) 13,753,185
Lease receivables
Finance lease receivables 2,378,148 (218) — (42,983) 2,334,947
Cancelled lease receivables 35,055 — — (26,538) 8,517
2,413,203 (218) — (69,521) 2,343,464
W 26,821,814 (207,087) (1,250) (640,927) 25,972,550
Deferred
loan costs,
net of fees
(Initial
Unpaid direct fees,
outstanding net of costs Present Allowance
principal on finance value for loan Carrying
balance leases) discounts losses amount
Loans receivable
Loans W 9,652,684 44,568 (1,955) (482,923) 9,212,374
Installment financial assets
Automobile 14,991,589 (326,639) — (141,848) 14,523,102
Durable goods 1 — — (1) —
Mortgage 363 1 — (20) 344
14,991,953 (326,638) — (141,869) 14,523,446
Lease receivables
Finance lease receivables 2,447,610 (185) — (46,881) 2,400,544
Cancelled lease receivables 34,411 — — (27,809) 6,602
2,482,021 (185) — (74,690) 2,407,146
W 27,126,658 (282,255) (1,955) (699,482) 26,142,966

(Unaudited)
September 30, 2021
22
(2) Reconciliation of changes in allowance for loan losses
The following tables present a reconciliation of changes in allowance for loan losses including ECL allowance for doubtful accounts for other assets for
the nine-month periods ended September 30, 2021 and 2020:
(*1) The Group has strengthened the stage2 classification criteria for loans strongly affected by COVID-19 and loans with multiple debtors, since the six-
month period ended June 30, 2021. The additional provision for allowance due to the change of classification criteria as of June 30, 2021 is W24,505 million.
The Group is collecting receivables that were previously charged off for which the statute of limitation has not legally elapsed or due to other reasons. The
contractual amounts of such receivables written off but not yet collected as of September 30, 2021 were W341,850 million.
Loans receivable Installment financial assets Lease receivables
12-month Lifetime expected Purchased or 12-month Lifetime expected 12-month Lifetime expected
expected credit losses originated expected credit losses expected credit losses
credit Not credit- Credit- credit-impaired credit Not credit- Credit- credit Not credit- Credit- Other
losses impaired impaired financial assets losses impaired impaired losses impaired impaired assets Total
Opening balance W 142,326 79,241 230,315 31,041 62,061 29,066 50,742 18,169 6,294 50,227 29,872 729,354
Movements between the three stages
Transferred to 12-month expected credit losses 13,889 (11,504) (2,385) — 5,567 (4,555) (1,012) 3,033 (1,234) (1,799) — —
Transferred to lifetime expected credit losses (35,852) 38,767 (2,915) — (13,884) 15,176 (1,292) (2,007) 2,563 (556) — —
Transferred to credit-impaired (2,410) (4,873) 7,283 — (358) (1,361) 1,719 (112) (208) 320 — —
Repurchases (Disposals) — — 113 85 — — 47 — — — — 245
Charge-offs — — (160,820) (14,445) — — (44,435) — — (2,125) (637) (222,462)
Recoveries — — 23,832 19,547 — — 9,065 — — 73 1,263 53,780
Unwinding of discounts — — (13,157) (283) — — (502) — — (223) — (14,165)
Provision for (release of) allowance (*1) (11,062) 26,029 93,726 (14,615) (5,724) 8,490 30,723 (4,667) 1,419 354 (2,521) 122,152
Closing balance W 106,891 127,660 175,992 21,330 47,662 46,816 45,055 14,416 8,834 46,271 27,977 668,904

(Unaudited)
September 30, 2021
23
(*1) The COVID-19 impact on the provision is reflected in the financial statements since June 30, 2020 and the amount recognized as of June 30, 2020 is
W14,114 million. No further adjustment was made to PD estimation based on management’s analysis of facts and circumstances at September 30, 2020.
The Group is collecting receivables that were previously charged off for which the statute of limitation has not legally elapsed or due to other reasons. The
contractual amounts of such receivables written off but not yet collected as of September 30, 2020 were W253,902 million.
Loans receivable Installment financial assets Lease receivables
12-month Lifetime expected Purchased or 12-month Lifetime expected 12-month Lifetime expected
expected credit losses originated expected credit losses expected credit losses
credit Not credit- Credit- credit-impaired credit Not credit- Credit- credit Not credit- Credit- Other
losses impaired impaired financial assets losses impaired impaired losses impaired impaired assets Total
Opening balance W 154,645 97,018 217,666 61,128 58,976 27,419 39,861 15,582 9,024 47,687 29,041 758,047
Movements between the three stages
Transferred to 12-month expected credit losses 20,328 (18,155) (2,173) — 8,085 (6,690) (1,395) 4,642 (2,656) (1,986) — —
Transferred to lifetime expected credit losses (18,877) 20,218 (1,341) — (5,326) 5,968 (642) (1,177) 2,198 (1,021) — —
Transferred to credit-impaired (3,237) (8,881) 12,118 — (449) (1,803) 2,252 (207) (844) 1,051 — —
Disposals — — (76,249) (38,038) — — (25,528) (2,241) (821) (57) — (142,934)
Charge-offs — — (76,367) (40,399) — — (22,950) — — (731) (889) (141,336)
Recoveries — — 24,125 31,089 — — 7,492 — — 98 1,106 63,910
Unwinding of discounts — — (13,152) (295) — — (500) — — (230) — (14,177)
Provision for (release of) allowance (*1) (31,227) (10,513) 147,956 24,722 (409) 5,100 51,857 (2,782) (1,507) 5,760 (991) 187,966
Closing balance W 121,632 79,687 232,583 38,207 60,877 29,994 50,447 13,817 5,394 50,571 28,267 711,476

(Unaudited)
September 30, 2021
24
10. Leased Assets
(1) Carrying amount
Leased assets as of September 30, 2021 and December 31, 2020 are as follows:
(2) Reconciliation of changes in leased assets
The following tables present a reconciliation of changes in the carrying amounts of operating
leased assets for the nine-month periods ended September 30, 2021 and 2020:
Accumulated
Accumulated impairment Carrying
Acquisition cost depreciation losses amount
Operating leased assets W 5,686,409 (1,312,319) (705) 4,373,385
Cancelled leased assets 21,500 — (6,222) 15,278
W 5,707,909 (1,312,319) (6,927) 4,388,663
Accumulated
Accumulated impairment Carrying
Acquisition cost depreciation losses amount
Operating leased assets W 4,648,386 (1,045,594) (721) 3,602,071
Cancelled leased assets 25,872 — (6,263) 19,609
W 4,674,258 (1,045,594) (6,984) 3,621,680
Opening Reversal of Closing
balance Addition Disposal Depreciation Impairment balance
Vehicles W 3,602,071 1,486,484 (175,830) (539,356) 16 4,373,385
Opening Impairment Closing
balance Addition Disposal Depreciation Loss balance
Vehicles W 2,338,995 1,507,613 (170,835) (394,187) (42) 3,281,544
Machine equipment 1,490 — (1,134) (356) — —
W 2,340,485 1,507,613 (171,969) (394,543) (42) 3,281,544

(Unaudited)
September 30, 2021
25
11. Lessee
(1) Carrying amount
Amounts recognized for leases in consolidated financial statements as of September 30, 2021 and
December 31, 2020 are as follows:
(*1) The weighted average incremental borrowing rate on weighted average the Group used when
recognizing and measuring the lease liabilities as of September 30, 2021 was 2.04%.
(2) Reconciliation of changes in right-of-use assets
The following tables present a reconciliation of changes in the carrying amount of the right-of-use
assets for the nine-month periods ended September 30, 2021 and 2020:
2021 2020
Right-of-use assets
Buildings W 32,209 34,617
Vehicles 194 303
Fixture and furniture 1,035 1,967
Lease liabilities
Lease liabilities (*1) W 32,242 35,183
Cancellation
Opening balance Addition Depreciation or termination Closing balance
Buildings W 34,617 9,188 (11,305) (291) 32,209
Vehicles 303 - (109) - 194
Fixture and furniture 1,967 - (932) - 1,035
W 36,887 9,188 (12,346) (291) 33,438
Cancellation
Opening balance Addition Depreciation or termination Closing balance
Buildings W 39,631 8,652 (13,224) (385) 34,674
Vehicles 42 384 (87) - 339
Fixture and furniture 3,208 - (931) - 2,277
W 42,881 9,036 (14,242) (385) 37,290

(Unaudited)
September 30, 2021
26
(3) Expenses on lease
The following table presents expenses on lease liabilities for the three-month and nine-month
periods ended September 30, 2021 and 2020:
(*1) The Group had no income from variable lease payment or subleasing right-of-use assets for
the nine-month periods ended September 30, 2021 and 2020.
(4) Total cash outflows for lease liabilities
Total cash outflows for lease liabilities for the nine-month periods ended September 30, 2021 and
(in millions of Korean won) Three-month periods ended September 30, Nine-month periods ended September 30,
2021 (*1) 2020 (*1) 2021 (*1) 2020 (*1)
Interest expense from lease liabilities (belongs to interest expense) W 172 197 544 626
Lease payment for leases of low value items 87 95 290 267
(belongs to general and administrative expenses)
(in millions of Korean won) Nine-month period ended September 30,
2021 2020
Total cash outflows for lease liabilities W 12,437 11,818

(Unaudited)
September 30, 2021
27
12. Property and Equipment
The following tables present a reconciliation of changes in the carrying amounts of property and
equipment for the nine-month periods ended September 30, 2021 and 2020:
(*1) Including gains and losses from discontinued operations.
(in millions of
Korean won) Nine-month period ended September 30, 2021
Transferred to
assets of a disposal
Opening group classified Translation Closing
balance Addition Transfer Disposal Depreciation(*1) as held for sale differences balance
Land W 84,361 — — — — (5,181) — 79,180
Buildings 91,244 21 — — (2,131) — — 89,134
Vehicles 3,289 1,119 — (23) (579) — — 3,806
Fixture and
furniture 19,653 3,530 1,769 (176) (7,393) — 14 17,397
Others 2,429 — — — — — — 2,429
Construction
in progress 807 3,104 (1,769) — — — — 2,142
W 201,783 7,774 — (199) (10,103) (5,181) 14 194,088
(in millions of
Korean won)
Transferred to
Opening assets held Translation Closing
balance Addition Transfer Disposal Depreciation(*1) for sale differences balance
Land W 89,290 — — (3,065) — (1,864) — 84,361
Buildings 99,296 12 — (1,242) (2,225) (3,887) — 91,954
Vehicles 3,371 509 — (219) (576) — — 3,085
Fixture and
furniture 21,155 4,812 894 (10) (8,964) — (15) 17,872
Others 2,429 — — — — — — 2,429
Construction
in progress — 1,050 (894) — — — — 156
W 215,541 6,383 — (4,536) (11,765) (5,751) (15) 199,857
Nine-month period ended September 30, 2020

(Unaudited)
September 30, 2021
28
13. Intangible Assets
The following tables present a reconciliation of changes in the carrying amounts of intangible assets
for the nine-month periods ended September 30, 2021 and 2020:
(in millions of
Transferred to
assets of a disposal
Opening group classified Translation Closing
balance Addition Transfer Disposal Amortization(*1) as held for sale differences balance
Software
development costs W 74,745 — 6,705 — (25,200) (3,496) — 52,754
Memberships 28,534 — — (4,137) — — (4) 24,393
Other intangible
assets 9,337 105 1,843 — (3,022) (162) 1 8,102
Software under
development 2,434 16,222 (8,548) — — — — 10,108
W 115,050 16,327 — (4,137) (28,222) (3,658) (3) 95,357
(in millions of
Opening Translation Closing
balance Addition Transfer Disposal Amortization(*1) differences balance
Software
development costs W 92,178 460 9,196 (71) (31,092) — 70,671
Memberships 28,812 — — (267) — (9) 28,536
Other intangible
assets 9,040 273 1,090 — (3,458) (1) 6,944
Software under
development 6,804 12,281 (10,286) — — — 8,799
W 136,834 13,014 — (338) (34,550) (10) 114,950

(Unaudited)
September 30, 2021
29
14. Borrowed Funds
(1) Borrowings
Borrowings as of September 30, 2021 and December 31, 2020 are as follows:
(2) Bonds issued
Bonds issued as of September 30, 2021 and December 31, 2020 are as follows:
(in millions of Annual Carrying amount
Korean won) interest September 30, December 31,
Lender rate (%) Maturity 2021 2020
Short-term borrowings:
Commercial paper Shinhan Bank 0.86 ~ October 18, 2021 through
and 8 others 1.64 February 21, 2022 W 650,000 330,000
General loans ING Bank 1.65 ~ September 16, 2022 through
and 1 other 1.75 September 29, 2022 150,000 568,368
800,000 898,368
Current portion of
long-term borrowings:
Commercial paper Kiwoom
Securities Co., Ltd.
and 1 other 2.12 March 7, 2022 200,000 —
General loans Kookmin Bank 1.23 ~ October 1, 2021 through
and 9 others 3.03 September 30, 2022 948,147 657,033
1,148,147 657,033
Long-term borrowings:
Commercial paper BNK
Securities Co., Ltd. 1.40 ~ December 16, 2022 through
and 4 others 1.65 September 13, 2024 500,000 700,000
General loans Kookmin Bank 1.16 ~ October 4, 2022 through
and 10 others 4.00 July 10, 2024 867,689 1,269,842
1,367,689 1,969,842
W 3,315,836 3,525,243
(in millions of Korean won) Annual Carrying amount
interest September 30, December 31,
rate (%) Maturity 2021 2020
Short-term bonds:
Bonds 0.92 ~ October 8, 2021 through W 475,000 520,000
Less: discount on bonds 1.66 September 28, 2022 (388) (449)
474,612 519,551
Current portion of long-term bonds:
Bonds 1.00 ~ October 1, 2021 through 5,329,777 4,889,788
Less: discount on bonds 2.85 September 30, 2022 (3,072) (1,710)
5,326,705 4,888,078
Long-term bonds:
Bonds 0.96 ~ October 7, 2022 through 19,415,312 18,434,919
Less: discount on bonds 3.38 November 12, 2030 (25,735) (28,135)
19,389,577 18,406,784
W 25,190,894 23,814,413

(Unaudited)
September 30, 2021
30
15. Employee benefit liabilities
(1) Defined contribution plans
The Group recognized W1,281 million and W1,180 million in the statement of comprehensive
income for retirement benefits based on the defined contribution plan for the nine-month periods ended
September 30, 2021 and 2020, respectively.
(2) Defined benefit plans
(a) Characteristics of the defined benefit plan
The Group operates a defined benefit plan. The plan assets are mainly comprised of interest rate
guaranteed type instruments, and therefore, are exposed to the risk of declining interest rates.
(b) Reconciliation of changes in present value of defined benefit obligations
The following table presents a reconciliation of changes in the present value of defined benefit
obligations for the nine-month periods ended September 30, 2021 and 2020:
(in millions of Korean won) Nine-month periods ended September 30
2021 2020
Opening balance W 109,920 103,766
Current service costs (*1) 9,802 10,041
Interest cost (*1) 1,933 1,710
Actuarial losses (gains):
Experience adjustments 1,617 444
Changes in economic assumptions (3,737) 2,241
Changes in demographic assumptions (113) 360
Transfer of severance benefits from (to) related parties, net (2,490) (125)
Benefits paid (6,703) (8,193)
Closing balance W 110,229 110,244

(Unaudited)
September 30, 2021
31
(c) Reconciliation of changes in fair value of plan assets
The following tables present a reconciliation of changes in the fair value of plan assets for the nine-
month periods ended September 30, 2021 and 2020:
(3) Other long-term employee benefit plans
The following tables present a reconciliation of changes in other long-term benefit liability for the
nine-month periods ended September 30, 2021 and 2020:
2021 2020
Contributions 21,600 10,500
Expected return on plan assets (*1) 1,959 1,782
Actuarial losses - Changes in economic assumptions (580) (471)
Transfer of severance benefits from (to) related parties, net (2,491) (149)
Benefits paid (5,979) (8,140)
2021 2020
Current service costs (*1) 405 407
Interest cost (*1) 118 107
Actuarial losses (66) 394
Benefits paid (589) (392)

(Unaudited)
September 30, 2021
32
16. Provisions
The following tables present a reconciliation of changes in the provisions for the nine-month
periods ended September 30, 2021 and 2020:
(*1) The Group facilitates credits with limits, under which the Group provides commitments to
extend credits. Provision is made for estimated losses arising from unused loan commitments.
(*2) The Group facilitates certain installment financial receivable products which the Group
guarantees residual value of used automobiles for consumers. The Group also contracts with third party
guarantor to guarantee residual value of automobiles returned by consumers. Provision is made for
estimated expected losses arising from these residual value guarantees.
(*3) The Group recognizes provisions for asset retirement obligations (AROs) which represent the
estimated costs to restore the existing leased properties which are discounted to the present value using
the appropriate discount rate at the end of the reporting period. Disbursements of such costs are expected
to occur at the end of the lease contract. In order to estimate expected restoration expense, the average
actual costs incurred for the past three years and five-year average inflation rate are used.
Unused Residual Asset
loan value retirement
commit- guaran- obliga-
ments (*1) tees (*2) tions (*3) Litigations Total
Opening balance W 157 79,810 6,559 — 86,526
Provision for (release of) allowance 169 9,029 (740) 40 8,498
Provisions made for AROs and
capitalized to related assets — — 137 — 137
Unwinding of interests — — 430 — 430
Closing balance W 326 88,839 6,386 40 95,591
Unused Residual Asset
loan value retirement
commit- guaran- obliga-
ments (*1) tees (*2) tions (*3) Litigations Total
Opening balance W 504 54,447 5,860 — 60,811
Provision for (release of) allowance (352) 17,883 (860) — 16,671
Provisions made for AROs and
capitalized to related assets — — 1,105 — 1,105
Unwinding of interests — — 88 — 88
Closing balance W 152 72,330 6,193 — 78,675

(Unaudited)
September 30, 2021
33
17. Derivative Financial Instruments and Hedge Accounting
(1) Trading derivatives
The Group had no balance of trading derivatives as of September 30, 2021 and December 31, 2020.
(2) Derivatives designated and qualifying as hedging instruments for cash flow hedges
In the normal course of business, the Group enters into derivative contracts to manage its exposures
to changes in future cash flows arising from volatilities in interest rate and foreign currency exchange
rates with its borrowings, bonds issued and loans. The Group primarily uses interest rate swaps and
currency swaps to manage exposures to fluctuations in future cash flows due to interest rate risk and
foreign exchange risk. There was no change in overall strategy of the Group for cash flow hedges.
The Group applies cash flow hedge accountings and the hedging relationship is affected by interest
rate benchmark reform. The Group currently enters into an interest rate swap contract and designates it
as a hedging instrument for cash flow hedging accounting to avoid the volatility in cash flows of
borrowing due to changes of the interest rate benchmark, the one-month and three-month USD LIBOR.
However, the USD LIBOR interest rate will be replaced by the Secured Overnight Financing Rate
(SOFR) based on actual transactions for specific periods (1M, 3M, 6M, 12M) from July 2023. The
Group assumes that interest rate benchmarks do not change due to interest rate benchmarks reform in
this hedging relationship. The Group is closely monitoring market and industry discussions regarding
applicable alternative base interest rates on exposed interest rate benchmarks. This uncertainty is no
longer expected when the exposed interest rate benchmark is replaced by an applicable interest rate.
Financial instruments related to LIBOR that are scheduled to reach maturity after July 2023 and
those which have not been converted to alternative interest rate benchmarks as of September 30, 2021
are as follows:
Book value of
Interest rate Non-derivative Nominal value of
benchmark Currency financial liability Hedging instument
USD 1M LIBOR USD W 1,184,900 1,195,125
USD 3M LIBOR USD 154,037 145,122

(Unaudited)
September 30, 2021
34
(a) Details of cash flow hedged items as of September 30, 2021 and December 31, 2020 are as
follows:
(b) Derivatives that are designated and qualifying as hedging instruments for cash flow hedges as
of September 30, 2021 and December 31, 2020 are as follows:
(*1) Notional principal amount represents Korean won equivalent amounts of foreign currencies
for won-to-foreign currency transactions and receiving foreign currencies for foreign currency-to-
foreign currency transactions that are translated with the benchmark foreign currency exchange rate
disclosed by the Bank of Korea as of the reporting date.
(*1) Notional principal amount represents Korean won equivalent amounts of foreign currencies
for won-to-foreign currency transactions and receiving foreign currencies for foreign currency-to-
foreign currency transactions that are translated with the benchmark foreign currency exchange rate
disclosed by the Bank of Korea as of the reporting date.
(in millions of September 30, 2021
Korean won) Accumulated other
Carrying amount Line item Changes in comprehensive
Assets Liabilities in the financial statements fair value income
Interest rate risk W — 4,520,000 Borrowings and Bonds issued — 4,855
Foreign exchange risk 30,235 8,224,250 Loans, Borrowings and Bonds issued (447,900) 24,463
W 30,235 12,744,250 (447,900) 29,318
(in millions of December 31, 2020
Korean won) Accumulated other
Carrying amount Line item Changes in comprehensive
Assets Liabilities in the financial statements fair value income (loss)
Interest rate risk W — 5,043,000 Borrowings and Bonds issued — (56,833)
Foreign exchange risk 29,441 6,766,282 Loans, Borrowings and Bonds issued 281,426 14,704
W 29,441 11,809,282 281,426 (42,129)
Notional Line item
principal Carrying amount in the financial Changes in
amount (*1) Assets Liabilities statements fair value
Interest rate swaps W 4,520,000 22,916 12,188 Derivative 84,016
Currency swaps 8,254,485 353,206 17,827 assets (liabilities) 499,980
W 12,774,485 376,122 30,015 583,996
Notional Line item
principal Carrying amount in the financial Changes in
amount (*1) Assets Liabilities statements fair value
Interest rate swaps W 5,043,000 944 74,112 Derivative (9,462)
Currency swaps 6,795,723 92,589 284,983 assets (liabilities) (231,341)
W 11,838,723 93,533 359,095 (240,803)

(Unaudited)
September 30, 2021
35
(c) Changes in effective portion of derivatives that are designated and qualifying as hedging
instruments for cash flow hedges for the nine-month periods ended September 30, 2021 and
The Group is expected to be exposed to the variability in future cash flows arising from hedged
items designated as cash flow hedges, until September 7, 2029. There was no cash flow hedges
discontinued during the nine-month periods ended September 30, 2021 and 2020.
The ineffective portion recognized in profit related to cash flow hedge during the nine-month
period ended September 30, 2021 is W10,674 million.
Changes
in fair value
recognized
in other Reclassified
Opening comprehensive to Closing
balance income profit or loss balance
Effective portion of cash flow hedges W (55,578) 583,996 (489,739) 38,679
Income tax effects 13,449 (9,361)
Effective portion of cash flow hedges,
net of income taxes W (42,129) 29,318
Changes
in fair value
recognized
in other Reclassified
Opening comprehensive to Closing
balance income profit or loss balance
Effective portion of cash flow hedges W (77,898) 71,224 (120,217) (126,891)
Income tax effects 18,851 30,707
Effective portion of cash flow hedges,
net of income taxes W (59,047) (96,184)

(Unaudited)
September 30, 2021
36
18. Equity
(1) Regulatory reserve for loan losses
According to the Specialized Credit Finance Business Act 11, the Group makes regulatory reserves
for loan losses if there is a shortfall in provisions prepared in accordance with K-IFRS. The amount
required by the regulation is 120% of the minimum amount specified in the Specialized Credit Finance
Business Act, but less than the total outstanding amount of the loans.
The reserve for loan loss is a discretionary reserve, and any excess amount beyond legally required
reserve can be reversed. If there is an accumulated deficit, the reserve is made only after when there is
no accumulated deficit balance.
Details of regulatory reserve for loan losses as of September 30, 2021 and December 31, 2020 are
as follows:
(*1) Regulatory reserve for loan losses as of September 30, 2021 and December 31, 2020 represents
the amount which reflects the expected release of regulatory reserve for loan losses to appropriated
regulatory reserve for loan losses at the beginning of the year.
Provision for (release of) regulatory reserve for loan losses and profit for the period and earnings
per share adjusted with provision for (release of) regulatory reserve for loan losses for the nine-month
periods ended September 30, 2021 and 2020 are as follows:
(*1) Provision for (release of) regulatory reserve for loan losses represents excessive reserves
expected to be made(released) for the nine-month periods ended September 30, 2021 and 2020.
(*2) Profit for the period adjusted with provision for (release of) regulatory reserve is not prepared
in accordance with K-IFRS, but the amount reflects the expected provision for (release of) regulatory
reserve for loan losses on a pre-tax basis on profit for the period.
2021 2020
Appropriated regulatory reserve for loan losses W 213,477 218,712
Expected release of
regulatory reserve for loan losses (15,087) (5,235)
Regulatory reserve for loan losses (*1) W 198,390 213,477
(in millions of Korean won) Nine-month periods ended September 30,
2021 2020
Profit for the period W 348,850 290,062
Less (add): provision for (release of)
regulatory reserve for loan losses (*1) (15,087) 4,886
Profit for the period adjusted with
provision for (release of)
regulatory reserve for loan losses (*2) W 363,937 285,176
Basic and diluted earnings per share
adjusted with reversal of
regulatory reserve for loan losses (in won) W 3,665 2,872

(Unaudited)
September 30, 2021
37
(2) Retained earnings
Details of retained earnings as of September 30, 2021 and December 31, 2020 are as follows:
(*1) Korean Commercial Act requires the Company to appropriate, as a legal reserve, an amount
equal to a minimum of 10% of annual cash dividends declared, until the reserve equals 50% of its issued
capital. The reserve is not available for the payment of cash dividends, but may be transferred to capital
stock or used for reducing accumulated deficit, if any.
2021 2020
Legal reserves:
Earned surplus reserve (*1) W 176,286 167,110
Discretionary reserves:
Regulatory reserve for loan losses 213,477 218,712
Reserve for electronic financial transactions 100 100
Reserve for business rationalization 74 74
213,651 218,886
Retained earnings before appropriation 3,755,132 3,501,983
W 4,145,069 3,887,979

(Unaudited)
September 30, 2021
38
19. Net Interest Income
Net interest income for the three-month and nine-month periods ended September 30, 2021 and
(*1) Including amortization of unearned revenue for security deposits received for leases under the
effective interest method
(*2) Including amortization of present value discounts under the effective interest method for the
security deposits paid for leased offices, amortization of present value discounts for customer deposits
received for leases and unwinding of provisions
20. Net Fee Income
Net fee income for the three-month and nine-month periods ended September 30, 2021 and 2020
are as follows:
2021 2020 2021 2020
Interest income:
Interest income recognized by using the effective interest method
Cash and due from other financial institutions W 1,795 3,105 7,074 11,901
Securities measured at FVOCI 62 258 142 814
Loans receivable 194,455 196,357 574,861 589,151
Installment financial assets 149,757 149,370 455,335 449,278
Lease receivables (*1) 32,264 31,869 96,517 94,463
Other (*2) 79 567 193 1,614
378,412 381,526 1,134,122 1,147,221
Interest expense:
Borrowings 14,773 16,991 45,896 51,618
Bonds issued 121,550 127,058 363,749 386,363
Other (*2) 1,885 1,803 5,048 5,715
138,208 145,852 414,693 443,696
Net interest income W 240,204 235,674 719,429 703,525
2021 2020 2021 2020
Fee income:
Loans receivable W 4,292 5,166 13,584 18,034
Installment financial assets 4,991 5,892 16,373 17,496
Lease receivables 29,998 30,564 91,726 89,942
39,281 41,622 121,683 125,472
Fee expenses:
Lease expenses 41,494 28,830 118,548 91,227
Net fee income W (2,213) 12,792 3,135 34,245

(Unaudited)
September 30, 2021
39
21. Net Lease Income
Net lease income for the three-month and nine-month periods ended September 30, 2021 and 2020
are as follows:
(*1) Excluding net interest income and net fee income regarding lease
22. Other Operating Income and Expenses
Other operating income and expenses for the three-month and nine-month periods ended
September 30, 2021 and 2020 are as follows:
2021 2020 2021 2020
Income on leases (*1)
Income on operating leases W 234,254 179,870 666,946 498,619
Gain on sale of lease assets 4,660 18,723 17,616 43,633
Fee income on operating leases 45,066 37,550 129,773 102,580
283,980 236,143 814,335 644,832
Lease expense (*1)
Depreciation 191,275 150,565 539,356 394,543
Loss on sale of lease assets 5,048 6,471 20,933 67,143
Impairment losses on lease assets (5) (841) (56) (1,059)
Fee expenses on operating leases 23,837 20,490 66,331 58,706
Other 2,103 4,160 5,698 13,260
222,258 180,845 632,262 532,593
Net lease income W 61,722 55,298 182,073 112,239
2021 2020 2021 2020
Other operating income:
Gain on valuation of derivatives W 287,387 (102,122) 459,784 136,613
Gain on derivatives transactions — 15,437 32,186 17,336
Gain on valuation of short-term financial investments 367 (814) 879 1,949
Gain on purchased loan 2,664 5,226 8,396 24,288
Shared services income 4,437 4,248 20,532 17,446
Other fee and commission 4,430 6,870 18,623 19,998
Advisory fee 11,695 12,781 34,209 35,133
Release of allowance 92 382 805 1,212
Other 3,660 3,636 8,782 16,314
W 314,732 (54,356) 584,196 270,289
Other operating expenses:
Loss on valuation of derivatives W (12,350) 21,553 1,217 33,732
Loss on derivatives transactions 513 — 1,014 —
Shared services expense 5,753 5,343 24,553 21,869
Indirect financing cost 2,515 3,137 7,395 8,527
Provision for allowance 2,021 6,323 9,303 17,883
Other 6,166 8,839 20,357 25,819
W 4,618 45,195 63,839 107,830

(Unaudited)
September 30, 2021
40
23. General and Administrative Expenses
General and administrative expenses for the three-month and nine-month periods ended September
30, 2021 and 2020 are as follows:
2021 2020 2021 2020
Salaries W 48,531 47,627 147,360 142,940
Severance benefits 3,823 3,943 11,598 12,167
Employee benefits 7,288 10,560 28,946 29,345
Advertising 9,092 10,120 26,803 29,008
Sales promotion 17,760 8,732 46,346 32,735
Rents 4,843 4,216 14,046 13,057
Utilities 2,091 2,315 6,125 7,169
Communication 2,966 3,482 8,929 9,544
Travel and transportation 720 483 2,302 2,598
Professional and other service fees 15,657 17,346 41,844 44,717
Outsourcing service charges 6,177 7,422 18,915 22,846
Commissions and charges 4,148 4,660 14,071 14,111
Depreciation 7,230 7,574 22,348 25,820
Amortization 6,189 11,128 27,865 33,069
Other 9,915 10,903 30,179 31,193
W 146,430 150,511 447,677 450,319

(Unaudited)
September 30, 2021
41
24. Income Taxes
Income tax expense is calculated by reflecting the current period tax adjustments in respective of
previous years, changes in deferred tax due to temporary differences, and income tax expense related
to items that is not recognized in profit and loss. The average effective tax rate for the nine-month
periods ended September 30, 2021 and 2020 (income tax expense/profit before income taxes) is 23.72%
and 23.55%.
25. Earnings Per Share
(1) Basic earnings per share
Basic earnings per share attributable to common stock of equity holders for the three-month and
nine-month periods ended September 30, 2021 and 2020 are as follows:
(2) Diluted earnings per share
There are no potential common stocks as of September 30, 2021 and 2020. Therefore, the diluted
earnings per share is equal to basic earnings per share for the nine-month periods ended September 30,
2021 and 2020.
Three-month period ended September 30, 2021 Nine-month period ended September 30, 2021
Continuing Discontiuned Continuing Discontiuned
Operations Operations Operations Operations
Profit for the period attributable
to owners of the Company (in won) (A) W 118,285,031,592 3,092,575,227 348,304,459,870 545,124,502
Weighted average of number of
outstanding common stocks (B) 99,307,435 shares 99,307,435 shares 99,307,435 shares 99,307,435 shares
Basic earnings per share (in won) (A/B) W 1,191 31 3,507 5
Three-month period ended September 30, 2020 Nine-month period ended September 30, 2020
Continuing Discontiuned Continuing Discontiuned
Operations Operations Operations Operations
Profit for the period attributable
to owners of the Company (in won) (A) W 106,183,278,838 (2,384,544,175) 299,196,951,526 (9,134,951,592)
Weighted average of number of
outstanding common stocks (B) 99,307,435 shares 99,307,435 shares 99,307,435 shares 99,307,435 shares
Basic earnings per share (in won) (A/B) W 1,069 (24) 3,013 (92)

(Unaudited)
September 30, 2021
42
26. Accumulated Other Comprehensive Income
Changes in accumulated other comprehensive income for the nine-month periods ended September
30, 2021 and 2020 are as follows:
Changes
Reclassifi-
Opening cation to Other Income tax Closing
balance profit or loss changes effects balance
Net change in unrealized
gains and losses on equity
securities measured at FVOCI W 32,938 — (8,864) 2,145 26,219
gains and losses on valuation of
debt securities measured at FVOCI 71 (75) (56) 32 (28)
Share in other comprehensive income (loss)
under the equity method (9,775) — 85,234 (20,627) 54,832
Net change in effective portion
of cash flow hedges (42,129) (489,739) 583,996 (22,810) 29,318
Net change in gains and losses
on overseas operations translation (7,372) — 1,757 — (5,615)
Remeasurements of
defined benefit plans (14,739) — 1,653 (400) (13,486)
W (41,006) (489,814) 663,720 (41,660) 91,240
Changes
Reclassifi-
Opening cation to Other Income tax Closing
balance profit or loss changes effects balance
gains and losses on equity
securities measured at FVOCI W 16,934 — 10,949 (2,650) 25,233
gains and losses on valuation of
debt securities measured at FVOCI 602 (619) 93 87 163
Share in other comprehensive income (loss)
under the equity method (2,398) — 20,706 (5,011) 13,297
Net change in effective portion
of cash flow hedges (59,047) (120,217) 71,224 11,856 (96,184)
Net change in gains and losses
on overseas operations translation (4,550) — (2,458) — (7,008)
Remeasurements of
defined benefit plans (13,994) — (3,516) 851 (16,659)
W (62,453) (120,836) 96,998 5,133 (81,158)

(Unaudited)
September 30, 2021
43
27. Supplemental Cash Flow Information
(1) Cash and cash equivalents
Details of cash and cash equivalents as of September 30, 2021 and December 31, 2020 are as
follows:
(*1) Ordinary deposits include restricted cash at reserve accounts of Autopia ABS trusts due from
other banks in the amount of W63,385 million and W18,404 million as of September 30, 2021 and
December 31, 2020, respectively, for the Autopia asset securitization program.
(*2) Other cash equivalents include demand deposits, certificate of deposits, time deposits,
commercial papers, repurchase agreements and other debt instruments with maturities of three months
or less from the acquisition date that are readily convertible to known amounts of cash which are subject
to an insignificant risk of changes in their fair value, and are used by the Group in the management of
its short-term commitments. Other cash equivalents include restricted cash at reserve accounts of
Autopia ABS trusts due from other banks in the amount of W10,900 million and W11,000 million each
as of September 30, 2021 and December 31, 2020, respectively, for the Autopia asset securitization
program.
2021 2020
Ordinary deposits (*1) W 138,541 86,791
Checking deposits 2,684 2,398
Other cash equivalents (*2) 415,230 316,876
W 556,455 406,065

(Unaudited)
September 30, 2021
44
(2) Cash generated from operations
Cash generated from operations for the nine-month periods ended September 30, 2021 and 2020
are as follows:
2021 2020
Profit for the period W 348,850 290,062
Adjustments:
Gain on sale of securities measured at FVTPL — (18)
Loss on sale of securities measured at FVTPL 30 1,432
Loss on valuation of securities measured at FVTPL 635 168
Gain on sale of debt securities measured at FVOCI (520) (583)
Impairment loss on securities measured at FVOCI 3 —
Reversal of impairment loss on securities measured at FVOCI (18) (202)
Income on loans 29,722 23,148
Income on installment financial assets 63,240 58,536
Income on leases 17,247 30,172
Gain on foreign currency translation (1,947) (33,731)
Dividend income (519) (1,144)
Gain on valuation of derivatives (459,784) (136,613)
Gain on valuation of short-term financial investments (879) (1,949)
Net interest expenses 407,284 429,368
Lease expenses 539,300 393,484
Provision for loan losses 122,152 187,966
Loss on foreign currency translation 448,694 137,175
Severance benefits 10,890 10,840
Long-term employee benefits 453 898
Depreciation 22,348 25,820
Amortization 27,865 33,069
Loss on valuation of derivatives 1,217 33,732
Provision for allowance 8,498 16,671
Share in net income of associates and joint ventures under the equity method (76,394) (59,665)
Gain on sale of property and equipment (65) (254)
Loss on sale of property and equipment 177 655
Gain on sale of intangible assets — (89)
Loss on sale of intangible assets 68 73
Share in net loss of associates and joint ventures under the equity method 1,022 485
Loss on cancellation of lease 85 315
Gain on sale of non-current assets held for sale (293) (3,324)
Income tax expense 108,337 92,174
Adjustments associated with discontinued operations (3,686) 1,946
1,265,162 1,240,555

(Unaudited)
September 30, 2021
45
2021 2020
Changes in operating assets and liabilities:
Decrease in due from banks W 9,937 50,412
Decrease (increase) in short-term financial investments (76,702) 467,754
Decrease (increase) in securities measured at FVTPL (2,927) 20,424
Decrease (increase) in securities measured at FVOCI (2,254) 16,529
Decrease (increase) in loans receivable (786,533) 177,587
Decrease (increase) in installment financial assets 673,531 (477,658)
Increase in finance lease receivables (173,913) (121,408)
Decrease in cancelled lease receivables 12,046 14,313
Increase in operating lease assets (1,310,654) (1,335,643)
Decrease in cancelled lease assets 215,569 318,484
Decrease in non-trade receivables 13,799 23,880
Increase in accrued revenues (7,590) (16,427)
Decrease (increase) in advance payments 3,414 (490)
Increase in prepaid expenses (5,869) (23,226)
Decrease in non-trade payables (17,057) (75,902)
Increase (decrease) in accrued expenses 1,777 (2,461)
Increase (decrease) in unearned revenue (1,271) 780
Increase in withholdings 8,279 39,648
Decrease in deposits received (10,278) (27,068)
Severance payments (717) (53)
Increase in plan assets (21,600) (10,501)
Transfer of severance benefits from related parties, net 1 24
Decrease in long-term employee benefits (589) (392)
Changes in assets and liabilities associated with discontinued operations (7) —
(1,479,608) (961,394)
W 134,404 569,223

(Unaudited)
September 30, 2021
46
(3) Changes in liabilities arising from financing activities
Changes in liabilities and assets that hedge liabilities arising from financing activities for the nine-
month periods ended September 30, 2021 and 2020 are as follows:
Non-cash changes
Changes in
foreign
Opening Net exchange Changes in Other Closing
balance cash flows rates fair value changes balance
Borrowings W 3,525,243 (220,931) 11,240 — 284 3,315,836
Bonds issued 23,814,413 924,847 437,454 — 14,180 25,190,894
Net derivate liabilities (assets)
held to hedge borrowed funds 264,670 (58,845) (459,412) (94,529) — (348,116)
Lease liabilities 35,183 (12,147) — — 9,206 32,242
W 27,639,509 632,924 (10,718) (94,529) 23,670 28,190,856
Non-cash changes
Changes in
foreign
Opening Net exchange Changes in Other Closing
balance cash flows rates fair value changes balance
Borrowings W 2,835,017 816,237 2,578 — 268 3,654,100
Bonds issued 23,549,212 (377,194) 101,887 — 10,771 23,284,676
Net derivate liabilities (assets)
held to hedge borrowed funds (13,407) 20,952 (101,297) 48,560 — (45,192)
Lease liabilities 38,472 (11,551) — — 8,496 35,417
W 26,409,294 448,444 3,168 48,560 19,535 26,929,001

(Unaudited)
September 30, 2021
47
28. Commitments and Contingencies
(1) Line of credit commitments
As of September 30, 2021, the Group has line-of-credit commitments from Shinhan Bank and other
banks with up to W49,100 million in the aggregate. The Group also has revolving credit facility
agreements up to USD 200 million, JPY 70,000 million, EUR 250 million and W2,649,500 million with
Kookmin Bank and other financial institutions.
The Group is exposed to interest rates benchmarks (USD 3M LIBOR, JPY 1M LIBOR) subject to
interest rate benchmarks reform. Among the group's contract, the limit related to USD 3M LIBOR and
JPY 1M LIBOR is USD 200 million and JPY 70,000 million, respectively. The USD LIBOR interest
rate will be replaced by the Secured Overnight Financing Rate (SOFR) based on actual transactions
from July 2023, while the JPY LIBOR will be replaced by the TOKYO Overnight Average Rate (TONA)
from January 2022. The Group is closely monitoring market and industry discussions regarding
applicable alternative base interest rates on exposed interest rate benchmarks. This uncertainty is no
longer expected when the exposed interest rate benchmark is replaced by an applicable interest rate.
The Group offers line-of-credit commitments to a number of customers. The unused amounts of
line-of-credit are W148,900 million as of September 30, 2021.
(2) Guarantees
Details of guarantees provided to the Group as of September 30, 2021 and December 31, 2020 are
as follows:
The Group has residual value guarantee insurance policies with DB INSURANCE CO., LTD. and
another insurance carrier which cover losses resulting from defaults in mortgage loans where unpaid
amounts exceed the recoverable amounts from the collateral of the loans and cover losses resulting from
sales of off-lease vehicles returned where the expected residual values exceed the recoverable amounts
at the end of the lease terms. Loans and leases insured by the policies and residual value guaranteed by
the insurance policies as of September 30, 2021 and December 31, 2020 are as follows:
(3) Pending litigations
Pending litigations include 37 cases with aggregated claim amounts of W26,181 million where the
Group is the defendant, 30 cases with aggregated claim amount of W3,586 million where the Group is
the plaintiff, and litigations against a number of debtors to collect receivables as of September 30, 2021.
The Group appropriates W 40 million for provision to cover a lost case in first trial. The Group
concluded that rest of the cases will not have significant influence on the financial statements.
Guarantor Details 2021 2020
Seoul Guarantee Guarantee for debt collection
Insurance Co., Ltd. deposit and others W 42,899 50,731
2021 2020
Loans and leases insured W 590,437 707,199
Residual value guaranteed by the insurance policies 156,983 186,027

(Unaudited)
September 30, 2021
48
(4) Receivables transfer agreement
The Group entered into an agreement with Hyundai Card Co., Ltd., Hyundai Commercial Co., Ltd.,
and Fubon Hyundai Life Insurance Co., Ltd. to purchase certain delinquent receivables on a regular
basis at amount agreed with the transferors.
(5) Borrowed funds agreement
As of September 30, 2021, the Group has agreements including trigger clauses regarding borrowed
funds and related credit commitments, W1,425,000 million for creditors’credit enhancement. When the
Group’s credibility declines below certain level, the Group is required for advanced redemption or
agreements with creditors can be invalid or cancelled.
(6) Purchase option
The Group can exercise the purchase option regarding the headquarters building which the Group
is leasing when the lessor intends to sell the building or at the date when it is 4 years and 5 months from
the lease inception date. In case a party with pre-emption decide not to exercise purchase option for the
building, then the Group can exercise its purchase option.
(7) Agreement related to asset securitization
The Group needs to maintain a certain ratio of securitized asset to securities and provides additional
assets for any shortfalls. The asset back securitization contract includes triggering clauses requiring
early redemptions. It provides credit enhancement to the asset back securities and therefore limits the
investor's risk in case of changes in the asset quality. When triggering events occur, the Group has to
redeem the securities for its ABS SPC. As of September 30, 2021, if Autopia 68th
and 69th
ABS SPCs
default on the settlement of derivatives contracts in relation to asset backed securities, the Company has
an obligation to compensate counterparties for any losses.

(Unaudited)
September 30, 2021
49
29. Related Party Transactions
(1) Relationships between parents and subsidiaries
The parent company is Hyundai Motor Company. Related parties include associates, joint ventures,
members of key management personnel and entities which the Group controls directly or indirectly, or
has joint control or significant influence over.
(2) Related parties
Related parties that have transactions, and receivables and payables with the Group as of September
30, 2021 is as follows:
Type Company
The Parent Hyundai Motor Company
Associates Korea Credit Bureau, Hyundai Capital Bank Europe GmbH,
and Joint ventures Hyundai Capital Canada Inc., BANCO HYUNDAI CAPITAL BRASIL S.A.
BAIC Hyundai Leasing Co., Ltd.
Others Kia Corp., Hyundai Card Co., Ltd., Hyundai Commercial Inc.,
Hyundai Autoever Corp., Hyundai Glovis Co., Ltd.,
Hyundai Construction & Engineering Co., Ltd., Hyundai Steel Company,
Hyundai Engineering Co., Ltd., Hyundai Mobis Co., Ltd.,
Hyundai Capital America and 59 others

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