Hcc 1 q13_ir_eng_review

HYUNDAI CARD CO., LTD. AND ITS SUBSIDIARIES
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
AS OF MARCH 31, 201
AND FOR THE THREE MONTHS ENDED
MARCH 31, 2013 AND 2012
AND INDEPENDENT ACCOUNTANTS’ REVIEW REPORT
AS OF MARCH 31, 2013
MARCH 31, 2013 AND 2012
INDEPENDENT ACCOUNTANTS’ REVIEW REPORT
INDEPENDENT ACCOUNTANTS’ REVIEW REPORT

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited
by guarantee, and its network of member firms, each of which is a legally separate and independent
entity. Please see www.deloitte.com/kr/about for a detailed
Touche Tohmatsu Limited and its member firms.
Member of Deloitte Touche Tohmatsu Limited
Independent Accountants’ Review Report
English Translation of a Report Originally Issued in Korean
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 “Company”). The financial statements consist of the condensed consolidated
of financial position as of March 31, 2013
income, the related condensed consolidated statements of changes in shareholders’ equity and
consolidated statements of cash flows for the three months ended March 31, 2013 and 2012, and a summary of
significant accounting policies and other explanatory information.
Management’s responsibility for the condensed consolidated financial statements
The Company’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 fina
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
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 Company are not presented fairly, in all material respects, in
accordance with Korean International F
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited
by guarantee, and its network of member firms, each of which is a legally separate and independent
entity. Please see www.deloitte.com/kr/about for a detailed description of the legal structure of Deloitte
Independent Accountants’ Review Report
English Translation of a Report Originally Issued in Korean
Directors of
subsidiaries (collectively, the “Company”). The financial statements consist of the condensed consolidated
of financial position as of March 31, 2013, and the related condensed consolidated statements of comprehensive
income, the related condensed consolidated statements of changes in shareholders’ equity and
cash flows for the three months ended March 31, 2013 and 2012, and a summary of
significant accounting policies and other explanatory information.
Management’s responsibility for the condensed consolidated financial statements
management is responsible for the preparation and fair presentation of the accompanying condensed
preparation of condensed consolidated financial statements that are free from material misstatement, whether due to
Independent accountants’ responsibility
this provides less assurance than an audit. We have not performed an audit
accordance with Korean International Financial Standards 1034, Interim Financial Reporting
Deloitte Anjin LLC
9Fl., One IFC,
23, Yoido-dong,
Youngdeungpo-gu, Seoul
150-945, Korea
Tel: +82 (2) 6676 1000
Fax: +82 (2) 6674 2114
www.deloitteanjin.co.kr
subsidiaries (collectively, the “Company”). The financial statements consist of the condensed consolidated statement
and the related condensed consolidated statements of comprehensive
income, the related condensed consolidated statements of changes in shareholders’ equity and the related condensed
cash flows for the three months ended March 31, 2013 and 2012, and a summary of
management is responsible for the preparation and fair presentation of the accompanying condensed
ncial statements that are free from material misstatement, whether due to
this provides less assurance than an audit. We have not performed an audit, and accordingly, we
Interim Financial Reporting.

Emphasis of matters
As explained in Note 2, the Company applied the effect of
consolidated statement of financial position as of December 31, 2012
statement of comprehensive income, the related condensed consolidated statement of changes in
equity and the related condensed consolidated statement of
were restated applying the amendments.
Others
We have also audited the consolidated statement of financial position as of December 31, 20
consolidated statement of comprehensive income,
equity and the related consolidated statement of
consolidated financial statements), all expressed in Korean
accordance with auditing standards generally accepted in the Republic of Korea. On those cons
statements, we expressed an unqualified opinion in our independent auditors’
addition, the restated condensed consolidated statement of financial
comparative purposes in the accompanying condensed consolidated financial statements, does not differ, in all
material respects, with the audited consolidated statement of financial position as of December 31, 201
May 13, 2013
This report is effective as of May 13
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 accompanying condensed consolidated financial statements
and may result in modifications to the accountants’ review report.
he Company applied the effect of changes in accounting policy retrospectively and the
consolidated statement of financial position as of December 31, 2012, and the related condensed consolidated
statement of comprehensive income, the related condensed consolidated statement of changes in
the related condensed consolidated statement of cash flows for the three months ended March 31, 2012
were restated applying the amendments. Meanwhile, our review conclusion is not affected by these
udited the consolidated statement of financial position as of December 31, 20
consolidated statement of comprehensive income, the related consolidated statement of changes in shareholders’
related consolidated statement of cash flows (not presented in the accompanying condensed
consolidated financial statements), all expressed in Korean won, for the year ended December 31, 2012
accordance with auditing standards generally accepted in the Republic of Korea. On those cons
we expressed an unqualified opinion in our independent auditors’ report dated March 12, 2013
consolidated statement of financial position as of December 31, 2012
purposes in the accompanying condensed consolidated financial statements, does not differ, in all
material respects, with the audited consolidated statement of financial position as of December 31, 201
Notice to Readers
May 13, 2013, the review report date. Certain subsequent events or circumstances may
es could significantly affect the accompanying condensed consolidated financial statements
and may result in modifications to the accountants’ review report.
changes in accounting policy retrospectively and the
and the related condensed consolidated
statement of comprehensive income, the related condensed consolidated statement of changes in shareholders’
cash flows for the three months ended March 31, 2012,
affected by these matters.
udited the consolidated statement of financial position as of December 31, 2012, and the related
changes in shareholders’
cash flows (not presented in the accompanying condensed
the year ended December 31, 2012, in
accordance with auditing standards generally accepted in the Republic of Korea. On those consolidated financial
report dated March 12, 2013. In
position as of December 31, 2012, presented for
purposes in the accompanying condensed consolidated financial statements, does not differ, in all
material respects, with the audited consolidated statement of financial position as of December 31, 2012.
, the review report date. Certain subsequent events or circumstances may
es could significantly affect the accompanying condensed consolidated financial statements

(the “Company”)
AS OF MARCH 31, 2013
MARCH 31, 2013 AND 2012
The accompanying financial statements, including all footnote disclosures, were prepared by, and are
the responsibility of, the Company.
Chung, Tae Young
Chief Executive Officer

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
AS OF MARCH 31, 2013 AND DECEMBER 31, 2012
(Unit: Korean won)
March 31, 2013 December 31, 2012
ASSETS:
CASH AND BANK DEPOSITS (Notes 5, 29 and 30):
Cash and cash equivalents ￦ 879,363,675,431 ￦ 791,547,295,193
Bank deposits 33,029,000,000 33,029,000,000
Total cash and bank deposits 912,392,675,431 824,576,295,193
INVESTMENT FINANCIAL ASSETS (Note 30):
Financial assets available-for-sale (AFS) 1,766,969,764 1,766,969,764
Total investment financial assets 1,766,969,764 1,766,969,764
CARD ASSETS (Notes 6, 7, 26, 27, 29 and 30):
Card receivables, net of present value discounts, deferred
origination fees and allowance for doubtful accounts 5,799,682,486,998 6,530,709,506,111
Cash advances, net of allowance for doubtful accounts 858,962,824,078 906,232,767,098
Card loans, net of present value discounts, deferred loan
origination fees and allowance for doubtful accounts 2,317,112,173,413 2,270,095,402,706
Total card assets 8,975,757,484,489 9,707,037,675,915
PROPERTY AND EQUIPMENT (Notes 8, 10 and 13):
Land 122,011,816,788 122,011,816,788
Buildings, net of accumulated depreciation 59,914,110,579 60,330,598,734
Vehicles, net of accumulated depreciation 134,920,012 163,464,977
Fixtures and equipment, net of accumulated depreciation 52,794,056,774 56,690,437,564
Finance lease assets 1,111,336,502 1,389,170,627
Construction in progress 29,357,202,248 23,797,602,168
Total property and equipment 265,323,442,903 264,383,090,858
OTHER FINANCIAL ASSETS
(Notes 5, 7, 18, 29 and 30):
Other accounts receivable, net of allowance for doubtful
accounts 82,475,098,013 85,387,050,368
Accrued revenue, net of allowance for doubtful accounts 45,062,962,101 43,654,761,801
Guarantee deposits 44,939,446,613 52,348,673,218
Derivative assets 427,520,000 901,423,501
Total other financial assets 172,905,026,727 182,291,908,888
OTHER NON-FINANCIAL ASSETS
(Notes 9 and 24):
Advanced payments, net of allowance for doubtful
accounts 20,628,743,454 11,254,701,307
Prepaid expenses 48,592,735,101 48,279,724,993
Intangible assets 75,104,250,328 74,664,032,134
Deferred income tax assets 142,532,036,552 135,666,642,303
Others 2,652,598,426 2,342,574,040
Total other non-financial assets 289,510,363,861 272,207,674,777
Total Assets ￦10,617,655,963,175 ￦11,252,263,615,395
(Continued)

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (CONTINUED)
AS OF MARCH 31, 2013 AND DECEMBER 31, 2012
(Unit: Korean won)
LIABILITIES AND SHAREHOLDERS’
EQUITY:
BORROWINGS :
Borrowings (Notes 11, 29 and 30) ( ￦ 127,500,000,000 ￦ 487,500,000,000
Bonds payable, net of discounts on bonds
(Notes 12, 29 and 30) 6,443,506,783,475 6,533,175,825,125
Total borrowings 6,571,006,783,475 7,020,675,825,125
RETIREMENT BENEFIT (Note 14)
Retirement benefit obligation 14,515,886,867 10,695,054,186
Total retirement benefit 14,515,886,867 10,695,054,186
OTHER FINANCIAL LIABILITIES
(Notes 13, 18, 27, 29 and 30):
Accounts payable 975,651,029,099 1,186,714,518,145
Withholdings 118,822,773,096 123,824,521,370
Accrued expenses 128,564,470,274 139,353,829,793
Finance lease liabilities 1,169,248,806 1,452,239,137
Derivative liabilities 22,161,623,314 53,554,957,780
Guarantee deposits 12,655,318,102 12,776,716,986
Total other financial liabilities 1,259,024,462,691 1,517,676,783,211
OTHER NON-FINANCIAL LIABILITIES
(Notes 16, 25 and 27):
Withholdings 8,046,355,086 6,968,385,070
Unearned revenue 402,002,258,358 397,830,493,299
Provisions 87,860,471,311 75,687,285,760
Current tax liability 38,621,567,148 30,439,361,053
Total other non-financial liabilities 536,530,651,903 510,925,525,182
SHAREHOLDERS’ EQUITY :
Share capital (Note 19) 802,326,430,000 802,326,430,000
Capital surplus (Note 19) 57,704,443,955 57,704,443,955
Retained earnings (Notes 2, 20 and 22) 1,395,947,791,512 1,348,744,482,014
Reserves (Notes 2 and 21) (19,420,307,228) (16,504,748,278)
Non-controlling interest 19,820,000 19,820,000
Total shareholders’ equity 2,236,578,178,239 2,192,290,427,691
Total Liabilities and Shareholders’ Equity ￦ 10,617,655,963,175 ￦ 11,252,263,615,395
(Concluded)
See accompanying notes to condensed consolidated financial statements.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
FOR THE THREE MONTHS ENDED MARCH 31, 2013 AND 2012
(Unit: Korean won)
Three months ended
March 31, 2013
Three months ended
March 31, 2012
OPERATING REVENUE:
Card income (Notes 27, 30 and 32) ￦ 591,429,424,522 ￦ 586,823,962,382
Interest income (Notes 30 and 31) 4,841,265,972 5,296,042,506
Reversal of impairment loss on financial assets AFS
(Note 30) 54,123,600 67,000,000
Dividends income 178,460,199 232,822,339
Other operating revenue (Notes 30 and 33) 46,105,995,764 22,701,620,226
Total operating revenue 642,609,270,057 615,121,447,453
OPERATING EXPENSES:
Card expenses (Notes 27, 30 and 32) 247,145,502,168 251,048,081,087
Interest expenses (Notes 30 and 31) 79,418,053,191 86,662,849,853
General and administrative expenses
(Notes 2, 14, 15, 23 and 27) 143,582,850,052 132,072,227,405
Securitization expenses 120,215,516 109,258,922
Bad debt expense and loss on disposal of loans 55,027,799,925 42,314,663,340
Transfer to provision for unused credit limits
(Note 17) 506,160,044 1,726,678,162
Other operating expenses (Notes 30 and 33) 54,914,208,031 22,318,545,832
Total operating expenses 580,714,788,927 536,252,304,601
OPERATING INCOME 61,894,481,130 78,869,142,852
NON-OPERATING INCOME:
Gain from sale of property and equipment 78,333,200 -
Rental revenue 645,689,865 247,566,093
Miscellaneous gain 44,824,685 53,065,568
Total non-operating income 768,847,750 300,631,661
NON-OPERATING EXPENSES:
Loss from sale of property and equipment 501,813,015 72,116,291
Donations 196,373,200 406,237,461
Total non-operation expense 698,186,215 478,353,752
INCOME BEFORE INCOME TAX 61,965,142,665 78,691,420,761
INCOME TAX EXPENSE (Notes 2 and 24) 14,761,833,167 3,815,549,087
INCOME FOR THE PERIOD 47,203,309,498 74,875,871,674
(Continued)

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (CONTINUED)
(Unit: Korean won)
Three months ended
March 31, 2013
Three months ended
March 31, 2012
OTHER COMPREHENSIVE INCOME (LOSS) FOR
THE PERIOD (Notes 2 and 28)
Items not reclassified subsequently to profit or loss ￦ (1,041,182,121) ￦ 121,826,422
Remeasurements of net defined benefit liability (1,373,591,188) 160,720,873
Income tax effect 332,409,067 (38,894,451)
Items reclassified subsequently to profit or loss (1,874,376,829) 4,988,575,107
Cash flow hedging gains or losses (2,495,569,035) 6,571,264,044
Income tax effect 621,192,206 (1,582,688,937)
Total other comprehensive income (loss) (2,915,558,950) 5,110,401,529
TOTAL COMPREHENSIVE INCOME FOR THE
PERIOD (Note 2) ￦ 44,287,750,548 ￦ 79,986,273,203
Net income attributable to:
Owners of the Company 47,203,309,498 74,875,871,674
Non-controlling interests - -
Total comprehensive income attributable to:
Owners of the Company 44,287,750,548 79,986,273,203
Non-controlling interests - -
(Concluded)

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
Share
capital
Capital surplus Reserves
Attributable to
owners of the
Company
Non-
controlling
interests Total
Share
premium
Other
capital
Retained
earnings
Cash flow
hedging
reserves
Remeasurem
ents of the
net defined
benefit
liability
Balance at
January 1,
2012 ￦802,326,430,000 ￦ 45,399,364,539 ￦12,305,079,416 ￦ 1,148,396,655,980 ￦(11,764,319,031) ￦ - ￦ 1,996,663,210,904 ￦ 19,820,000 ￦ 1,996,683,030,904
Changes in
accounting
policy - - - 6,049,230,616 - (6,049,230,616) - - -
Restated
balance 802,326,430,000 45,399,364,539 12,305,079,416 1,154,445,886,596 (11,764,319,031) (6,049,230,616) 1,996,663,210,904 19,820,000 1,996,683,030,904
Comprehensive
income
Net income - - - 74,875,871,674 - - 74,875,871,674 - 74,875,871,674
Other
comprehensi
ve income - - - - 4,988,575,107 121,826,422 5,110,401,529 - 5,110,401,529
Acquisition of
subsidiaries - - - - - - - 9,910,000 9,910,000
Balance at
March 31,
2012 802,326,430,000 45,399,364,539 12,305,079,416 1,229,321,758,270 (6,775,743,924) (5,927,404,194) 2,076,649,484,107 29,730,000 2,076,679,214,107
Balance at
January 1,
2013 802,326,430,000 45,399,364,539 12,305,079,416 1,339,725,219,219 (7,485,485,483) - 2,192,270,607,691 19,820,000 2,192,290,427,691
Changes in
accounting
policy - - - 9,019,262,795 - (9,019,262,795) - - -
Restated
balance 802,326,430,000 45,399,364,539 12,305,079,416 1,348,744,482,014 (7,485,485,483) (9,019,262,795) 2,192,270,607,691 19,820,000 2,192,290,427,691
Comprehensive
income
Net income - - - 47,203,309,498 - - 47,203,309,498 - 47,203,309,498
Other
comprehensi
ve loss - - - - (1,874,376,829) (1,041,182,121) (2,915,558,950) - (2,915,558,950)
Balance at
March 31,
2013 ￦802,326,430,000 ￦ 45,399,364,539 ￦12,305,079,416 ￦ 1,395,947,791,512 ￦ (9,359,862,312) ￦ (10,060,444,916) ￦ 2,236,558,358,239 ￦ 19,820,000 ￦ 2,236,578,178,239

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unit: Korean won)
Three months ended
March 31, 2013
Three months ended
March 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:
Income for the period ￦ 47,203,309,498 ￦ 74,875,871,674
Income tax expense 14,761,833,167 3,815,549,087
Interest income (4,841,265,972) (5,296,042,506)
Interest expense 79,418,053,191 86,662,849,853
Dividend received (178,460,199) (232,822,339)
Bad debt expense and loss on disposal of receivables 55,027,799,925 42,314,663,340
Retirement benefits 2,480,799,140 2,377,023,691
Depreciation 7,030,838,278 6,510,217,966
Amortization 3,760,904,871 3,440,216,045
Loss on foreign currency translation 33,377,986,383 5,251,105,080
Loss on valuation of trading derivatives - 7,052,500,000
Increase in provision for unused credit limit 506,160,044 1,726,678,162
(Decrease) increase in provision for others 11,667,025,507 (1,703,059,010)
Loss from sale of property and equipment 501,813,015 72,116,291
Reversal of impairment loss of financial assets AFS (54,123,600) (67,000,000)
Gain on foreign currency translation - (7,057,455,027)
Gain on valuation of trading derivatives (33,415,000,000) (5,160,000,000)
Amortization of present value discounts of card asset (5,191,931,731) (11,307,815,534)
Amortization of deferred origination fees of card assets (3,977,383,405) (5,039,531,911)
Gain from sale of property and equipment (78,333,200) -
Other operating gains (377,555,478) -
Changes in working capital:
Decrease in card assets 685,573,913,303 96,551,268,271
Decrease (increase) in other financial assets 1,450,547,644 (15,144,628,736)
Increase in other receivables (10,943,541,434) (8,391,213,325)
Decrease in derivative assets - 1,865,666,985
Decrease in retirement benefit obligations (1,143,361,537) (1,210,127,505)
Decrease in plan asset 1,114,348,055 711,983,363
Decrease in capital lease liabilities (282,990,331) (268,734,582)
Decrease in other financial liabilities (229,120,191,092) (96,953,942,679)
Increase in other non-financial liabilities 4,171,765,059 11,955,210,459
Cash generated from operating activities
Interest received 5,025,114,919 7,120,872,508
Interest paid (73,502,634,275) (82,257,289,700)
Dividend received 178,460,199 232,822,339
Income tax paid (12,491,420,048) (17,268,064,053)
Net cash provided by operating activities 577,652,479,896 95,178,888,207
(Continued)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)
(Unit: Korean won)
Three months ended
March 31, 2013
Three months ended
March 31, 2012
CASH FLOWS FROM INVESTING ACTIVITIES:
Disposal of investment financial assets ￦ 54,123,600 ￦ 67,000,000
Disposal of property and equipment 101,998,553 -
Disposal of intangible assets - 1,250,000,000
Net decrease in bank deposit 7,829,163,253 9,683,380,372
Acquisition of property and equipment (8,496,668,691) (64,887,023,997)
Acquisition of intangible assets (4,201,123,065) (1,489,660,227)
Acquisition of subsidiaries - 9,910,000
Net cash used in investing activities (4,712,506,350) (55,366,393,852)
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase in borrowings 1,220,000,000,000 2,180,000,000,000
Proceeds from issue of bonds payable 699,096,404,549 943,301,586,092
Repayment of borrowings (1,580,000,000,000) (2,440,000,000,000)
Repayment of bonds payable (824,219,997,857) (667,665,000,000)
Net cash (used in) provided by financing activities (485,123,593,308) 15,636,586,092
NET INCREASE IN CASH AND CASH EQUIVALENTS 87,816,380,238 55,449,080,447
CASH AND CASH EQUIVALENTS, BEGINNING OF
THE PERIOD 791,547,295,193 830,022,903,023
CASH AND CASH EQUIVALENTS, END OF THE
PERIOD ￦ 879,363,675,431 ￦ 885,471,983,470
(Concluded)

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
AS OF MARCH 31, 2013 AND DECEMBER 31, 2012, AND
1. GENERAL:
Hyundai Card Co., Ltd. (the “Parent”), is engaged in the credit card business under the Specialized Credit
Financial Business Law of Korea. On June 15, 1995, the Parent acquired the credit card business of Korea
Credit Circulation Co., Ltd., and on June 16, 1995, the Korean government granted permission to the Parent to
engage in the credit card business.
As of March 31, 2013, the Parent has approximately 8.89 million card members, 2 million registered merchants
and 158 marketing centers, branches and posts. Its head office is located in Yoido, Seoul.
As of March 31, 2013, the total common stock of the Parent is ￦802,326 million. The shareholders of the
Parent and their respective ownerships as of March 31, 2013 and December 31, 2012, are as follows:
Shareholder
Number of shares % of ownership Number of shares % of ownership
Hyundai Motor Co., Ltd. 50,572,187 31.52 50,572,187 31.52
Kia Motors Co., Ltd. 18,422,142 11.48 18,422,142 11.48
Hyundai Steel Co., Ltd. 8,729,750 5.44 8,729,750 5.44
GE Capital Int'l Holdings 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
Totals 160,465,286 100.00 160,465,286 100.00
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
The Company maintains its official accounting records in the Republic of Korean won (“Won”) and prepares
condensed consolidated financial statements in conformity with Korean statutory requirements and Korean
International Reporting Standards (“K-IFRS”), in Korean language (Hangul). Accordingly, these consolidated
financial statements are intended for use by those who are informed about K-IFRS and Korean practices.
Certain information included in the Korean language financial statements, but not required for a fair
presentation of the Company’s financial position, operating results, changes in shareholders’ equity or cash
flows, is not presented in the accompanying condensed consolidated financial statements.
(1) Basis of Preparation
The Company’s interim consolidated financial statements for the three months ended March 31, 2013, are
prepared in accordance with K-IFRS 1034, Interim Financial Reporting.
The Company’s accounting policies applied for the accompanying interim consolidated financial statements are
the same as the policies applied for the preparation of consolidated financial statements for the year ended
December 31, 2012, except for the effects from the introduction of new and revised accounting standards or
interpretations as described below.

- 2 -
1) Accounting standards and interpretations that were newly applied for the three months ended March 31,
2013, and changes in the Company’s accounting policies are as follows:
Amendment to K-IFRS 1001, Presentation of financial statements: Presentation of Items of Other
Comprehensive Income (Revised)
The amendments to K-IFRS 1001 require the Company to present items in the other comprehensive income
section to be grouped into those that will not be reclassified subsequently to profit or loss, and will be
reclassified subsequently to profit or loss when specific conditions are met. These amendments have an effect
only on presentation of consolidated financial statements and do not have an effect on the Company’s financial
position or operating results. The comparative consolidated financial statements are restated retrospectively
applying the amendments.
K-IFRS 1019, Employee Benefits (Revised)
The amendments to K-IFRS 1019 require the recognition of actuarial gains and losses in other comprehensive
income and hence eliminate the ‘corridor approach’ and ‘immediate recognition in profit and loss approach’
permitted under the previous version. Expected return on plan assets is measured using the discount rate used in
measuring defined benefit obligations instead of using an independent expected return and presented in net
interest on the net defined benefit liability. Meanwhile, the Company shall recognize past service cost as an
expense at the earlier date between when the plan amendment or curtailment occurs and when the entity
recognizes related restructuring costs or termination benefits. The Company applied the effect of changes in
accounting policy retrospectively and the comparative consolidated financial statements are restated
retrospectively applying the amendments.
K-IFRS 1107, Financial Instruments: Disclosures – Offsetting Financial Assets and Financial Liabilities
(Revised)
The amendments to K-IFRS 1107 increase the disclosure requirements to include information about offsetting
financial assets and financial liabilities. The revised accounting standards require disclosure of information on
conditional rights of setoff that are enforceable and exercisable only in the events mentioned in agreements
regardless of meeting some or all of the offsetting criteria in K-IFRS 1032. The Company discloses the
information comparatively (See Note 30 (2)).
K-IFRS 1110, Consolidated Financial Statements (Issued)
The standard supersedes K-IFRS 1027 Consolidated and Separate Financial Statements and SIC-2012
Consolidation – Special Purpose Entities. K-IFRS 1110 establishes a single source of guidance in the
application of definition of control. The standard states that an investor controls an investee when 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. These enactments referred above do not have an effect on the
Company’s consolidated financial statements and disclosures.
K-IFRS 1111, Joint Arrangements (Issued)
K-IFRS 1111 deals with how a joint arrangement of which two or more parties have joint control should be
determined. Under K-IFRS 1111, joint arrangements are classified as joint operations or joint ventures,
depending on the rights and obligations of the parties to the arrangements. A joint operation is a joint
arrangement whereby the parties that have joint control of the arrangement (i.e., joint operators) have rights to
the assets, and obligations for the liabilities, relating to the arrangement. A joint venture is a joint arrangement
whereby the parties that have joint control of the arrangement (i.e., joint venturers) have rights to the net assets
of the arrangement. Under joint operations, a joint operator recognizes and measures assets, liabilities, related
revenues and expenses in relation to its interest in the arrangement. Under joint ventures, a joint venturer
recognizes an investment and accounts for that investment using the equity method. These enactments referred
above do not have an effect on the Company’s consolidated financial statements and disclosures.

- 3 -
K-IFRS 1112, Disclosures of Interests in Other Entities (Issued)
K-IFRS 1112 improves disclosures of reporting entities that have an interest in a subsidiary, a joint
arrangement, an associate or unconsolidated structured entity. The standard requires an entity to disclose the
nature of, and risks associated with, its interests in other entities and the effects of those interests on its
financial position, financial performance and cash flows. The Company discloses the information on interests
in subsidiaries (See Note 4).
K-IFRS 1113, Fair Value Measurements (Issued)
K-IFRS 1113 establishes a single source of guidance for fair value measurements and disclosures about fair
value measurements. The standard defines fair value, establishes a framework for measuring fair value and
requires disclosures about fair value measurements. The standard defines fair value as the price that would be
received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at
the measurement date (i.e., an exit price). When measuring fair value, an entity uses the assumptions that
market participants would use when pricing the asset or liability. The standard explains that a fair value
measurement requires an entity to determine the particular asset or liability being measured, the market in
which an orderly transaction would take place for the asset and liability and the appropriate valuation
techniques to use when measuring fair value. Also, the standard requires wider disclosures about fair value
measurements. These enactments referred above do not have a significant effect on the Company’s
consolidated financial statements and disclosures.
The effects on consolidated statement of financial position and consolidated statement of comprehensive
income by accounting standards and interpretations that were newly applied for the three months ended
March 31, 2013, and changes in the Company’s accounting policies are as follows:
(Consolidated statement of financial position)
As of December 31, 2012
Before changes After changes
Attributable to owners of the Company
Share capital and capital surplus ￦ 860,030,873,955 ￦ 860,030,873,955
Retained earnings 1,339,725,219,219 1,348,744,482,014
Reserve (7,485,485,483) (16,504,748,278)
Non-controlling interests 19,820,000 19,820,000
￦ 2,192,290,427,691 ￦ 2,192,290,427,691
(Consolidated statement of comprehensive income)
For the three months ended March 31, 2012
Before changes After changes
Operating income ￦ 79,029,863,725 ￦ 78,869,142,852
Non-operating income 300,631,661 300,631,661
Non-operating expenses 478,353,752 478,353,752
Income before income tax expenses 78,852,141,634 78,691,420,761
Income tax expenses 3,854,443,538 3,815,549,087
Net income for the period 74,997,698,096 74,875,871,674
Other comprehensive income 4,988,575,107 5,110,401,529
Items not reclassified subsequently to
profit or loss - 121,826,422
Remeasurements of the net defined
benefit liability - 160,720,873
Income tax effect - (38,894,451)
Items reclassified subsequently to
profit or loss 4,988,575,107 4,988,575,107
Cash flow hedging gains or losses 6,571,264,044 6,571,264,044
Income tax effect (1,582,688,937) (1,582,688,937)
Total comprehensive income for the
period ￦ 79,986,273,203 ￦ 79,986,273,203

- 4 -
2) The Company has not applied or adopted earlier the following new and revised K-IFRSs that have been
issued but are not yet effective:
K-IFRS 1032 (as revised in 2012), Financial Instruments: Presentation
The amendments to K-IFRS 1032 clarify existing application issue relating to the offset of financial assets and
financial liabilities requirements. The Group’s right of setoff must not be contingent upon any future events but
enforceable anytime during the contract period in all of the circumstances — in the event of default, insolvency
or bankruptcy of the entity or the counterparties as well as in the ordinary course of business. The
amendments to K-IFRS 1032 are effective for annual periods beginning on or after January 1, 2014. The
Company does not anticipate that these amendments referred above will have a significant effect on the
Company’s consolidated financial statements and disclosures.
3. CRITICAL ACCOUNTING JUDGMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY:
In the application of the Company’s accounting policies, management is required to make judgments, estimates
and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other
sources. Actual results may differ from these estimates.
The application of the Company’s accounting policies and the judgments by management on sources of
estimation uncertainty are the same as those of the consolidated financial statements as of December 31, 2012.
4. SUBSIDIARY:
Details of the Parent’s subsidiaries as of March 31, 2013 and December 31, 2012, are as follows:
Place of
incorporation and
operation
Voting share (%)
Companies Major operation March 31, 2013 December 31, 2012
End of
reporting
period
PRIVIA 2nd
SPC Asset securitization Korea 0.9 0.9 December
PRIVIA 3rd
SPC Asset securitization Korea 0.9 0.9 January
The subsidiaries were established for the Parent’s business activity. The Parent has a power over the
subsidiaries due to the fact that the Parent involves in the objectives and design of the subsidiaries and exposes
to risks and rewards of them. Also, all the decision makings processes of the subsidiaries are operated on
autopilot by provisions and articles of association. The Parent is considered to have an ability to use power
because the Parent has a control over the changes of provisions and articles of association. By those reasons,
the Parent includes the special-purpose entities under consolidation.
Meanwhile, in case that 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 to the Parent.

- 5 -
5. RESTRICTED CASH AND DEPOSITS:
Restricted deposits and others as of March 31, 2013 and December 31, 2012, are as follows (Unit: Won in
millions):
Type Entity March 31, 2013 December 31, 2012 Restriction
Deposits
KB and others ￦ 16 ￦ 16
Guarantee deposits
for overdraft
Shinhan Bank
and others 33,000 33,000 Secured deposits
Mirae Asset
Securities 13 13
Social enterprise
fund
Other
financial
assets
Korea Asset
Management
Corporation 9,246 9,246 Escrow account
￦ 42,275 ￦ 42,275
6. CARD ASSETS AND LOANS:
Card assets and loans by customer as of March 31, 2013 and December 31, 2012, are as follows (Unit: Won in
millions):
Households Corporates Total Households Corporates Total
CARD ASSETS :
Card receivables (*) ￦ 5,318,563 ￦ 543,801 ￦5,862,364 ￦ 6,116,731 ￦ 479,630 ￦6,596,361
Cash advances 891,680 - 891,680 940,019 - 940,019
Card loans (*) 2,401,694 - 2,401,694 2,351,470 - 2,351,470
Subtotal 8,611,937 543,801 9,155,738 9,408,220 479,630 9,887,850
LOANS
Loans to corporate - - - - - -
Total 8,611,937 543,801 9,155,738 9,408,220 479,630 9,887,850
Allowance for doubtful
accounts (175,503) (4,478) (179,981) (176,050) (4,762) (180,812)
Book value ￦ 8,436,434 ￦ 539,323 ￦8,975,757 ￦ 9,232,170 ￦ 474,868 ￦9,707,038
Composition rate 93.99% 6.01% 100.00% 95.11% 4.89% 100.00%
(*) Adjusted for deferred origination fees and present value discounts.

- 6 -
7. ALLOWANCE FOR DOUBTFUL ACCOUNTS:
Changes in the allowance for doubtful accounts for the three months ended March 31, 2013 and 2012, are as
follows (Unit: Won in millions):
Three months ended March 31, 2013
Card
receivables
Cash
advances Card loans Loans Other assets Total
Balance at January 1,
2013 ￦ 65,652 ￦ 33,786 ￦ 81,374 ￦ - ￦ 2,267 ￦ 183,079
Bad debt expenses (551) (115) (172) - - (838)
Bad debt recovered 172 240 78 - - 490
Disposition and
repurchase (8,917) (5,696) (7,919) - - (22,532)
Provision of (reversal
of) allowance for
doubtful accounts 6,326 4,502 11,221 - 572 22,621
Balance at March 31,
2013 ￦ 62,682 ￦ 32,717 ￦ 84,582 ￦ - ￦ 2,839 ￦ 182,820
Card
receivables
Cash
advances Card loans Loans Other assets Total
Balance at January 1,
2012 ￦ 68,773 ￦ 37,910 ￦ 67,071 ￦ 30 ￦ 2,306 ￦ 176,090
Bad debt expenses (151) (108) (75) - - (334)
Bad debt recovered 184 275 101 - - 560
Disposition and
repurchase (4,946) (3,284) (3,130) - - (11,360)
Provision of (reversal
of) allowance for
doubtful accounts 2,870 831 5,156 - (76) 8,781
Balance at March 31,
2012 ￦ 66,730 ￦ 35,624 ￦ 69,123 ￦ 30 ￦ 2,230 ￦ 173,737

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8. PROPERTY AND EQUIPMENT:
The changes in book value of property and equipment for the three months ended March 31, 2013 and 2012,
are as follows (Unit: Won in millions):
Beginning
balance Acquisition Reclassification(*) Disposal Depreciation
Ending
balance
Land ￦ 122,012 ￦ - ￦ - ￦ - ￦ - ￦ 122,012
Buildings 60,331 5 4 (20) (406) 59,914
Vehicles 163 - - - (28) 135
Fixtures and equipment 56,690 1,630 1,299 (506) (6,319) 52,794
Finance lease assets 1,389 - - - (278) 1,111
Construction in
progress 23,798 6,862 (1,303) - - 29,357
Total ￦ 264,383 ￦ 8,497 ￦ - ￦ (526) ￦ (7,031) ￦ 265,323
Beginning
balance Acquisition Reclassification(*) Disposal Depreciation
Ending
balance
Land ￦ 83,995 ￦ 34,166 ￦ - ￦ - ￦ - ￦ 118,161
Buildings 42,187 22,053 347 - (331) 64,256
Vehicles 270 76 - - (36) 310
Fixtures and equipment 57,974 6,961 125 (72) (5,865) 59,123
Finance lease assets 2,500 - - - (278) 2,222
Construction in
progress 472 1,631 5,268 - - 7,371
Total ￦ 187,398 ￦ 64,887 ￦ 5,740 ￦ (72) ￦ (6,510) ￦ 251,443
(*) ￦5,740 million of construction in progress is reclassified from advanced payments.

- 8 -
9. INTANGIBLE ASSETS:
The changes in intangible assets for the three months ended March 31, 2013 and 2012, are as follows (Unit:
Won in millions):
(*) ￦803 million of construction in progress is reclassified to advanced payments.
Beginning
balance Acquisition
Reclassification
(*) Disposal Amortization
Ending
balance
Development cost ￦ 34,747 ￦ 655 ￦ 190 ￦ - ￦ (2,893) ￦ 32,699
Industrial
property rights 76 - - - (10) 66
Others 7,829 - - - (858) 6,971
Construction in
progress 11,041 3,546 (190) - - 14,397
Membership 20,971 - - - - 20,971
Total ￦ 74,664 ￦ 4,201 ￦ - ￦ - ￦ (3,761) 75,104
Beginning
balance Acquisition
Reclassification
(*) Disposal Amortization
Ending
balance
Development cost ￦ 36,656 ￦ 718 ￦ 373 ￦ - ￦ (2,541) ￦ 35,206
Industrial
property rights 116 - - - (10) 106
Others 11,369 - - - (889) 10,480
Construction in
progress 2,101 771 (1,176) - - 1,696
Membership 22,734 - - (1,250) - 21,484
Total ￦ 72,976 ￦ 1,489 ￦ (803) ￦ (1,250) ￦ (3,440) ￦ 68,972

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10. ASSETS PLEDGED AS COLLATERAL:
Land and buildings amounting to￦1,179 million are provided as collateral for leasehold deposit received as of
March 31, 2013.
11. BORROWINGS:
Borrowings as of March 31, 2013 and December 31, 2012, are as follows (Unit: Won in millions):
Annual interest
rates (%) MaturityBorrowed from March 31, 2013 December 31, 2012
Commercial
papers - - - ￦ - ￦ 350,000
Borrowings
Hana bank
and six others
3.97–5.55
2013.6.27–
2014.7.19 127,500 137,500
￦ 127,500 ￦ 487,500
12. BONDS PAYABLE:
Bonds payable issued by the Company and outstanding as of March 31, 2013 and December 31, 2012, are as
Annual
interest rates (%) Maturity
Par value Issue price Par value Issue price
Short-term
debentures
2.91–3.55
2013.6.14–
2013.11.6 ￦ 140,000 ￦ 140,000 ￦ 170,000 ￦ 170,000
Current
portion of
long-term
debentures
2.91–6.35,
1M USD Libor+0.724
2013.4.2–
2014.3.26
1,896,082 1,896,082 1,707,580 1,707,580
Long-term
debentures
2.94–6.75,
1M USD Libor+0.724
1M USD Libor+1.5
2014.4.2–
2019.7.31
4,415,980 4,415,980 4,665,067 4,665,067
Discounts on bonds (8,555) (9,471)
Bonds payable, net ￦6,443,507 ￦6,533,176
The outstanding bonds payable are non-guaranteed corporate bonds, with their principals to be redeemed by
installment or at maturity. Bond issuance costs are recorded as discounts on bonds payable and amortized using
the effective interest rate method.

- 10 -
13. FINANCE LEASE LIABILITIES:
(1) Lease contract
The Company has a three-year finance lease for electronic equipment. The Company has a bargain
purchase option at expiration date of lease contract. The lessor has the legal ownership of the finance lease,
whose book value amounts to ￦1,111 million and ￦1,389 million as of March 31, 2013 and December
31, 2012, and which are set as collateral for finance lease obligation.
(2) Finance lease liabilities as of March 31, 2013 and December 31, 2012, are as follows (Unit: Won in
millions):
Minimum lease
payments
Present value of
minimum lease payments
Minimum lease
payments
Present value of
minimum lease payments
Less than 1 year ￦ 1,202 ￦ 1,169 ￦ 1,202 ￦ 1,154
1–5 years - - 301 298
Present value
discounts (33) (51)
Present value ￦ 1,169 ￦ 1,452
14. RETIREMENT BENEFIT PLAN:
(1) Defined Contribution Plan
The expense recognized in the condensed consolidation statements of comprehensive income related to
postemployment benefit plan under the defined contribution plan for the three months ended March 31,
2013 and 2012, are as follows (Unit: Won in millions):
March 31, 2013 March 31, 2012
Defined contribution plan ￦ 5 ￦ 2

- 11 -
(2) Defined benefit plan
1) General
The Company operates a defined benefit plan that is linked to final payment. Plan assets mainly consist of
deposits and expose to risk of fall in interest rate.
2) Net defined benefit obligation
Changes in net defined benefit obligation for the three months ended March 31, 2013 and 2012, are as
The present
value of the
defined benefit
obligation Plan assets
National
pension fund
Net defined
benefit obligation
Beginning balance ￦ 44,474 ￦ (33,745) ￦ (34) ￦ 10,695
Contributions from the
employer - - - -
Current service cost 2,391 - - 2,391
Interest expense
(income) 353 (268) - 85
The return on plan
assets, excluding
amounts included in
interest income
above - 22 - 22
Actuarial gains and
losses arising from
changes in
demographic
assumptions - - - -
Actuarial gains and
losses arising from
changes in financial
assumptions 1,351 - - 1,351
Transfer of employees
between the
Company and its
related companies (520) 416 - (104)
Benefits paid (623) 696 3 76
Ending balance ￦ 47,426 ￦ (32,879) ￦ (31) ￦ 14,516

- 12 -
The present
value of the
defined benefit
obligation Plan assets
National
pension fund
Net defined
benefit
obligation
Beginning balance ￦ 37,007 ￦ (19,195) ￦ (37) ￦ 17,775
Contributions from the
employer
- - - -
Current service cost 2,193 - - 2,193
Interest expense
(income) 366 (184) - 182
The return on plan
assets, excluding
amounts included in
interest income above - (14) - (14)
Actuarial gains and
losses arising from
changes in
demographic
assumptions - - - -
Actuarial gains and
losses arising from
changes in financial
assumptions (147) - - (147)
Transfer of employees
between the Company
and its related
companies 22 (10) - 12
Benefits paid (1,230) 722 - (508)
Ending balance ￦ 38,211 ￦ (18,681) ￦ (37) ￦ 19,493
15. EMPLOYEE BENEFITS:
Details of employee benefits for the three months ended March 31, 2013 and 2012, are as follows (Unit: Won
in millions):
March 31, 2013 March 31, 2012
Short-term employee benefits ￦ 35,341 ￦ 24,963
Pension expenses 2,481 2,377
￦ 37,822 ￦ 27,340
16. UNEARNED REVENUE:
Details of unearned revenue as of March 31, 2013 and December 31, 2012, are as follows (Unit: Won in
millions):
Customer loyalty program ￦ 324,821 ￦ 320,328
Membership fee 77,140 77,450
Others 41 52
￦ 402,002 ￦ 397,830

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17. PROVISION:
Changes in provisions for the three months ended March 31, 2013 and 2012, are as follows (Unit: Won in
millions):
March 31, 2013
Unused
commitment Point Customer loyalty Total
Beginning ￦ 46,386 ￦ 15,509 ￦ 13,792 ￦ 75,687
Increase 506 1,409 10,258 12,173
Ending ￦ 46,892 ￦ 16,918 ￦ 24,050 ￦ 87,860
March 31, 2012
Unused
commitment Point Customer loyalty Total
Beginning ￦ 47,167 ￦ 11,240 ￦ 21,826 ￦ 80,233
Increase (decrease) 1,727 539 (2,242) 24
Ending ￦ 48,894 ￦ 11,779 ￦ 19,584 ￦ 80,257
The above amounts as of March 31, 2013, include provision for deposits in escrow account of ￦4,944 million,
provision for charging additional tax related to VISA of ￦8,769 million and provision for pending litigations
of ￦10,337 million, in which provision includes deposits in escrow account of ￦4,467 million (See
Note 25(3)).

- 14 -
18. DERIVATIVES AND HEDGE ACCOUNTING:
(1) There are no derivative instruments held for trading as of March 31, 2013 and December 31, 2012.
(2) Cash flow hedge
The Company removes the volatility risk of future cash flow of a hedged item, such as borrowings or bonds,
caused by changes in market interest rates or in foreign currency rates, by using derivatives 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, 2012.
1) Fair value of cash flow hedge as of March 31, 2013 and December 31, 2012, are as follows (Won in
millions):
Contract
Amount Asset Liabilities
Contract
Amount Asset Liabilities
Interest rate
swap ￦ 728,000 ￦ 428 ￦ 4,772 ￦ 778,000 ￦ 901 ￦ 3,925
Cross-currency
swap 906,512 - 17,390 873,092 - 49,630
Total ￦ 1,634,512 ￦ 428 ￦ 22,162 ￦ 1,651,092 ￦ 901 ￦ 53,555
For transactions between local currency and foreign currencies, the unsettled contract amount of transaction
is translated applying the basic foreign exchange rate at the end of reporting period to the contract amount
in foreign currencies. For transaction between foreign currencies and other foreign currencies, the unsettled
contract amount is the amounts translated applying the basic foreign exchange rate at the end of reporting
period to the contract amount in foreign currencies purchased.
2) Expected cash flow for cash flow hedge
Maximum potential amounts of future payments for cash flow hedges by the period when the cash flows
are expected to occur and when they are expected to affect income (loss) for the period are as follows (Won
in millions):
Less than 1 month ￦ (2,023) ￦ (2,079)
1–3 months (7,311) (3,881)
3–12 months (15,746) (25,813)
1–5 years (15,579) (47,039)
￦ (40,659) ￦ (78,812)

- 15 -
19. SHARE CAPITAL:
There was no change in share capital and capital surplus for the three months ended March 31, 2013.
20. RETAINED EARNINGS:
(1) Details of retained earnings as of March 31, 2013 and December 31, 2012, are as follows (Unit: Won in
millions):
Legal reserve (*) ￦ 20,143 ￦ 20,143
Reserve for bad loans 611,622 439,031
Unappropriated retained earnings 764,183 889,571
￦ 1,395,948 ￦ 1,348,745
(*) Korean Commercial Code requires a company to appropriate at least 10 percent of dividends paid
as legal reserve for each fiscal period, until the reserve equals 50 percent of paid-in 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 three months ended March 31, 2013 and 2012, are as follows (Unit:
Won in millions):
Three months ended March 31,
2013 2012
Beginning ￦ 1,348,745 ￦ 1,154,446
Net income attributable to the owners of the
Company
47,203 74,876
Ending ￦ 1,395,948 ￦ 1,229,322
21. RESERVES:
Details of reserves for the three months ended March 31, 2013 and 2012, are as follows (Unit: Won in
millions):
2013 2012
Beginning ￦ (16,504) ￦ (17,813)
Cash flow hedging gains (losses)
Interest rate swap (1,322) 1,065
Currency swap (1,174) 5,505
Tax effect related to cash flow hedging gains (losses) 621 (1,582)
Remeasurements of the net defined benefit liability (1,373) 161
Tax effect related to remeasurements of the net defined
benefit liability 332 (39)
Ending ￦ (19,420) ￦ (12,703)
Cash flow hedging reserve represents the cumulative gains or losses of hedging instruments considered
effective portion in hedge accounting. The cumulative deferred gains or losses of hedging instruments is
reclassified to income (loss) for the period only when gains or losses of the hedged item is reflected in income
(loss) for the period or is reflected to the initial book value of non-financial hedged item in accordance with
relevant accounting policy.

- 16 -
22. RESERVE FOR BAD LOANS:
Reserve for bad loans is calculated and disclosed according to Article 11, Supervisory Regulation of Specialized
Credit Financial Business.
(1) Reserve for bad loans reflected in retained earnings as of March 31, 2013 and December 31, 2012, are as
Accumulated reserve for bad loans ￦ 611,622 ￦ 439,031
Expected reserve for bad loans (3,767) 172,591
Reserve for bad loans ￦ 607,855 ￦ 611,622
(2) The provision of reserve for bad loans and adjusted income after reserve for bad loans for the three months
ended of March 31, 2013 and 2012, are as follows (Unit: Won in millions):
Three months ended December 31,
2013 2012
Provision ￦ (3,767) ￦ 19,148
Adjusted income after reserve for bad loans 50,970 55,728

- 17 -
23. GENERAL AND ADMINISTRATIVE EXPENSES:
Details of general and administrative expenses for the three months ended March 31, 2013 and 2012, are as
2013 2012
PAYROLL
Salaries and wages ￦ 29,403 ￦ 19,414
Pension expenses 2,481 2,377
Employee benefits 7,969 7,546
39,853 29,337
OTHER EXPENSES
Travel expenses ￦ 461 ￦ 502
Communication expenses 5,104 5,414
Posts expense 3,449 3,120
Rental expenses 6,163 6,740
Taxes dues 5,768 3,777
Repair and maintenance expenses 142 151
Insurance premiums 11 4
Entertainment expenses 204 184
Advertising expenses 5,746 9,799
Supply expenses 774 529
Vehicle maintenance expenses 3 8
Periodicals expenses 24 27
Publication expenses 1,650 1,831
Training expenses 835 843
Electronic data processing expense 10,927 8,345
Expense for temporary staff 7,938 8,750
Professional expenses 34,562 33,513
Delivery commission 890 980
Commission expense 5,976 5,872
Business activities expense 748 915
Depreciation expense 7,031 6,510
Amortization expense 3,761 3,440
Event expense 353 667
Conference expense 96 96
Building administrative expense 1,114 718
￦ 103,730 ￦ 102,735

- 18 -
24. INCOME TAX FROM CONTINUED OPERATION:
(1) Income tax expense for the three months ended March 31, 2013 and 2012, are summarized as follows (Unit:
Won in millions):
2013 2012
Income tax currently payable ￦ 20,674 ￦ 23,143
Changes in deferred tax assets by temporary differences (*) (6,865) (17,707)
Total 13,809 5,436
Changes in income tax expense reflected directly in shareholders’
equity 953 (1,621)
Income tax expense ￦ 14,762 ￦ 3,815
(*) Ending net deferred tax assets due to temporary differences ￦ 142,532 ￦ 130,110
Beginning net deferred tax assets due to temporary differences 135,667 112,403
Changes in net deferred tax assets due to temporary differences ￦ (6,865) ￦ (17,707)
(2) Income tax expenses reflected directly in shareholders’ equity for the three months ended March 31, 2013,
are as follows (Unit: Won in millions):
January 1, 2013 Increase March 31, 2013
Tax effect related to the cash
flow hedging reserve gains
and losses ￦ 2,367 ￦ 621 ￦ 2,988
Tax effect related to
remeasurements of the net
defined benefit liability 2,880 332 3,212
￦ 5,247 ￦ 953 ￦ 6,200
(3) A reconciliation between income before income tax and income tax expense for the three months ended
March 31, 2013 and 2012, are as follows (Unit: Won in millions):
2013 2012
Income before income tax ￦ 61,965 ￦ 78,691
Income tax payable by the statutory income tax rates 14,534 18,581
Tax reconciliations:
Non-deductible expenses 142 283
Deferred tax expense relating to changes in tax rates - 552
The amount of deductible temporary differences for which
no deferred tax asset is recognized - (11,384)
True-up adjustment (*) (123) (3,463)
Others 70 (3,231)
Income tax from continued operation ￦ 89 ￦ (17,243)
(*) True-up adjustment due to difference in the amount disclosed in prior-year’s audit report and the actual
tax return amount.

- 19 -
25. CONTINGENCIES AND COMMITMENTS:
Contingencies and commitments are the same as those of the consolidated financial statements as of
December 31, 2012, except for the following:
(1) Credit line agreement
a. The following are credit line agreements as of March 31, 2013 and December 31, 2012 (Unit: Won in
millions):
Type Financial instruments March 31, 2013 December 31, 2012
Overdraft limit - ￦ - ￦ 50,000
Intraday overdraft limit
Shinhan Bank and
5 others 360,000 280,000
b. Credit Facility Agreement
The Company entered into a Credit Facility Agreement with GE Capital European Funding & CO
(“GECC”) on February 15, 2013. The credit facility limit that can be used by the Company is Euro
equivalent of USD100 million. In terms of duration, the Agreement is renewable for one year from January
2014 until January 9, 2015, the maturity of the Credit Facility Agreement.
With regard to the Credit Facility Agreement, the Company, GECC, Hyundai Motor Company (“HMC”)
and Kia Motors Corp. (“KMC”) entered into a Support Agreement with same contract period as of the
Credit Facility Agreement. Under the Support Agreement, in case that the Company uses the credit
facility line, each of HMC and KMC shall bear an amount equal to 41 percent and 15 percent of losses,
respectively, which are any amount of obligations that have not been paid to GECC by the Company or
otherwise received or collected by GECC from the Company.
c. Revolving Credit Facility
The Company has a revolving credit facility agreement with many financial institutions for credit line as of
March 31, 2013, as follows (Unit: Won in millions):
Financial instruments Credit line Term
Kookmin Bank ￦ 30,000 2012-05-28–2013-05-29
Kookmin Bank 30,000 2012-11-07–2013-10-22
Kookmin Bank 100,000 2013-02-28–2014-02-28
NH Bank 100,000 2013-03-29–2014-03-29
Citibank, Seoul 50,000 2012-12-24–2013-12-24
Woori Bank 200,000 2012-06-29–2013-06-28
Shinhan Bank 50,000 2012-04-16–2013-04-15
Shinhan Bank 50,000 2012-05-31–2013-05-31
Suhyup Bank 20,000 2013-03-06–2014-03-06
Hana Bank 50,000 2013-02-01–2014-02-03
(2)Pending Lawsuits
As of March 31, 2013, the Company is involved in 26 cases (￦131,920 millions) as a defendant and 2
cases (￦1,263 millions) as a plaintiff in the pending lawsuits. The management of the Company does not
anticipate that these pending lawsuits referred above will have a significant effect on the Company’s
consolidated financial statements.

- 20 -
(3) Deposit for Loss Reimbursement
As of March 31, 2013, the Company has deposits of ￦4,944 million and ￦4,302 million of proceeds and
interests from the sale of Daewoo Engineering & Construction Co., Ltd.’s shares, respectively, in an escrow
account and records ￦4,944 million of provision for proceeds and ￦4,467 million of provision for
interests from the litigation relating to the sale of Daewoo Engineering & Construction Co., Ltd.’s shares
(See Note 17).
(4) Guarantee
The Company has a performance guarantee from the Seoul Guarantee Insurance Co., Ltd., amounting to
￦474 million in connection with airline ticket payments and others.
(5) Contract of Sale of Receivables
The Company 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 Company sells the receivables that are 60 days or
more past due or written off 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.
26. TRANSFERS OF FINANCIAL ASSETS:
The Parent transferred its card assets to special-purpose companies (“SPCs”) for asset securitization and SPCs
issued Asset-Backed Securities(“ABSs”). The ABSs are collateralized by card assets as underlying assets. All
of the transferred financial assets do not qualify for derecognition under K-IFRS 1039 because the Parent has
retained substantially all the risks and rewards of ownership of the transferred asset. Therefore, the Parent
continues to recognize the transferred financial assets in the separate financial statements.
The details of ABSs and underlying assets as of March 31, 2013 and December 31, 2012, are as follows (Unit:
Won in millions):
As of March 31, 2013
Maturity
Carrying amount Fair value
Underlying
asset
Senior
tranche
Underlying
asset
Senior
tranche
Net
position
PRIVIA 2nd
SPC 2014.4.22 ￦ 945,439 ￦ 444,840 ￦ 965,372 ￦ 444,710 ￦ 520,662
PRIVIA 3rd
SPC 2015.7.20 1,195,758 444,840 1,218,176 444,480 773,696
Discounts on bonds - (3,095) - - -
￦ 2,141,197 ￦ 886,585 ￦2,183,548 ￦ 889,190 ￦ 1,294,358
As of December 31, 2012
Maturity
Carrying amount Fair value
Underlying
asset
Senior
tranche
Underlying
asset
Senior
tranche
Net
position
PRIVIA 2nd
SPC 2014.4.22 ￦ 1,055,990 ￦ 428,440 ￦ 1,074,693 ￦ 428,160 ￦ 646,533
PRIVIA 3rd
SPC 2015.7.20 1,038,539 428,440 1,058,068 427,951 630,117
Discounts on bonds - (3,589) - - -
￦ 2,094,529 ￦ 853,291 ￦ 2,132,761 ￦ 856,111 ￦ 1,276,650

- 21 -
27. TRANSACTION WITH RELATED PARTIES:
(1) Status of related parties
Related parties consist of entities related to the Company, 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 related parties as of March 31, 2013, are as follows:
Companies
Parent company Hyundai Motor Company
Other related parties GE Capital Int'l Holdings, Green air, Kia motor company, Kia Tigers, Busan
Finance Center AMC, Samwoo, WIA Magna Powertrain, Eukor Car Carriers,
Innocean, Iljin Bearing, Jongro Academy, Chunbuk Hyundai motors FC, Jongro
Eclass, Hyundai Kefico, Korea Credit Bureau, Hankook Economy News,
Haevichi Country Club, Haevichi Hotel & Resort, Hyundai construction,
Hyundai construction human resource development center, Hyundai Glovis,
Hyundai Dymos, Hyundai City Corporation, Hyundai Life, Hyundai Rotem,
Hyundai Materials, Hyundai Metia, Hyundai Movis, Hyundai BNG Steel,
Hyundai farm land & development, Hyundai Steel Company, Hyundai C&I,
Hyundai IHL, Hyundai energy, Hyundai engineering, Hyundai NGV, Hyundai
MSEAT, Hyundai MnSoft, Hyundai AMCO, Hyundai Auto Ever Systems,
Hyundai Wistco, Hyundai Wia, Hyundai Engineering & Steel Industries,
Hyundai Architects & Engineers Associates, Hyundai Motors Electronic
Industry, Hyundai Capital, Hyundai Commercial, Hyundai Powertech, Hyundai
Fastech, Hyundai Hysco, HK Saving Bank and HMC Investment Securities
(2) Transaction with related companies for the years ended March 31, 2013 and 2012, are as follows (Unit:
Won in millions):
Three months ended March 31, 2013 Three months ended March 31, 2012
Parent
company
Other related
parties Total
Parent
company
Other related
parties Total
Revenues
Card revenue ￦ 37,022 ￦ 20,293 ￦ 57,315 ￦ 24,353 ￦ 13,569 ￦ 37,922
Rental revenue - 73 73 - 59 59
Others - 10,245 10,245 - 7,630 7,630
37,022 30,611 67,633 24,353 21,258 45,611
Expense
Card expense - 13,182 13,182 15 2,454 2,469
General and
administrative
expense 71 9,444 9,515 157 6,845 7,002
Others 40 13,390 13,430 - 16,209 16,209
111 36,016 36,127 172 25,508 25,680
Others
Purchase of
property and
equipment - 5,798 5,798 76 2,474 2,550
Purchase of
intangible
assets - 308 308 - 672 672
Disposal of
assets - 93,767 93,767 - 89,730 89,730
Total ￦ - ￦ 99,873 ￦ 99,873 ￦ 76 ￦ 92,876 ￦ 92,952

- 22 -
(3) Outstanding receivables, payables and guarantee from transactions with related parties as of March 31,
2013 and December 31, 2012, are as follows (Unit: Won in millions):
Parent
company
Other
related
parties Total
Parent
company
Other
related
parties Total
Receivables
Card asset ￦ 45,087 ￦ 187,278 ￦232,365 ￦64,580 ￦147,800 ￦212,380
Others 2,243 10,765 13,008 151 21,626 21,777
Allowance for
doubtful accounts (496) (2,060) (2,556) (710) (1,626) (2,336)
Total ￦ 46,834 ￦ 195,983 ￦242,817 ￦ 64,021 ￦167,800 ￦231,821
Payables
Accounts payable ￦ 46,976 ￦ 40,271 ￦ 87,247 ￦ 87,354 ￦ 58,060 ￦145,414
Other 7 (1,457) (1,450) 7 (5,489) (5,482)
Total ￦ 46,983 ￦ 38,814 ￦ 85,797 ￦ 87,361 ￦ 52,571 ￦139,932
The Company is being provided payment guarantees to GECC through credit facility agreement by HMC
and KMC (See Note 25(1)).
(4) Granting of credit with related parties
Granting of credit with related parties as of March 31, 2013, is as follows (Unit: Won in millions):
Grantor Grantee Method Credit limit Period
Parent Hyundai Capital
Services, Inc. Call loan 300,000 2012.11.1–2013.10.31
Hyundai Capital
Services, Inc.
Parent
Call loan 300,000 2012.11.1–2013.10.31
Call loan is granted only in case that any grantee demands credit line and there is residual fund, and the
credit line currently is not being used.
(5) Compensation for key executives
1) Compensation cost for key executives for the three months ended March 31, 2013, consists of short-
term employee benefit and retirement benefit.
2) Compensation for key management for the three months ended March 31, 2013 and 2012, consists of
the following (Unit: Won in millions):
For the three months ended March 31
2013 2012
Short-term employee benefit ￦ 1,693 ￦ 839
Retirement benefit 498 405
Total ￦ 2,191 ￦ 1,244
3) Key management includes directors (including non-executive directors) and members of the audit
committee with significant authority and responsibility over the Company’s plan, direction and control.

- 23 -
28. ACCUMULATED OTHER COMPREHENSIVE INCOME:
Changes of accumulated other comprehensive income for the three months ended March 31, 2013, are as
Beginning
Balance Decrease Disposal
Income tax
effect
Ending
balance
Accumulated other
comprehensive income
Effective portion of
changes in fair value
of cash flow hedges ￦ (7,485) ￦ (2,551) ￦ 55 ￦ 621 ￦ (9,360)
Remeasurements of the
net defined benefit
liability (9,019) (1,373) - 332 (10,060)
￦ (16,504) ￦ (3,924) ￦ 55 ￦ 953 ￦ (19,420)
29. FINANCIAL RISK MANAGEMENT:
(1) General
The Company is exposed to various financial risks such as credit risk, liquidity risk and market risk
associated with financial instruments. The level of exposure to such risks, objectives of the Company and
its risk management policy and procedures are outlined below. The Company’s risk management objectives,
policy and procedures are the same as those for 2012.
(2) Credit risk
1) Level of exposure to credit risk
The Company’s maximum exposure to credit risk as of March 31, 2013 and December 31, 2012, is
summarized as follows (Unit: Won in millions):
Deposit ￦ 912,393 ￦ 824,576
Card asset (*1) 9,155,738 9,887,850
Other assets (*1, 2) 175,082 184,554
Unused commitment 33,607,383 32,974,864
Total ￦ 43,850,596 ￦ 43,871,844
(*1) Card asset is stated at book value before allowance for doubtful accounts, deferred origination fees
and present value discounts.
(*2) Other assets consist of accounts payable, unearned income and others.

- 24 -
2) Analysis of credit soundness of financial assets
① Credit soundness of card assets neither past due nor impaired as of March 31, 2013 and December 31,
2012, is summarized as follows (Unit: Won in millions):
Book value
before
allowance
for doubtful
accounts
Allowance
for
doubtful
accounts
Book
value
Book value
before
allowance
for doubtful
accounts
Allowance
for
doubtful
accounts
Book
value
Retail
Card receivables
and cash advances ￦ 6,081,573 ￦ (79,106) ￦6,002,467 ￦6,914,575 ￦ (83,591) ￦ 6,830,984
Card loans 2,287,889 (55,311) 2,232,578 2,238,022 (54,810) 2,183,212
Corporate
Card receivables 514,736 (2,432) 512,304 450,389 (1,905) 448,484
Total ￦ 8,884,198 ￦ (136,849) ￦ 8,747,349 ￦ 9,602,986 ￦ (140,306) ￦ 9,462,680
② Credit quality of card assets past due but not impaired as of March 31, 2013 and December 31, 2012,
are summarized as follows (Unit: Won in millions):
March 31, 2013
Less than
1 month 1–2 months 2–3 months
More than
3 months Total
Retail ￦ 154,345 ￦ 29,552 ￦ - ￦ - ￦ 183,897
Corporate 10,549 4,459 - - 15,008
164,894 34,011 - - 198,905
Card assets
Card receivables 86,927 15,314 - - 102,241
Cash advances 24,100 6,255 - - 30,355
Card loans 53,867 12,442 - - 66,309
164,894 34,011 - - 198,905
accounts (6,701) (2,782) - - (9,483)
Book value ￦ 158,193 ￦ 31,229 ￦ - ￦ - ￦ 189,422
December 31, 2012
Less than
1 month 1–2 months 2–3 months
More than
3 months Total
Retail ￦ 173,994 ￦ 29,994 ￦ - ￦ - ￦ 203,988
Corporate 13,485 2,653 - - 16,138
187,479 32,647 - - 220,126
Card assets
Card receivables 110,097 16,497 - - 126,594
Cash advances 18,102 4,378 - - 22,480
Card loans 59,280 11,772 - - 71,052
187,479 32,647 - - 220,126
accounts (7,051) (2,879) - - (9,930)
Book value ￦ 180,428 ￦ 29,768 ￦ - ￦ - ￦ 210,196
③ Impaired card assets as of March 31, 2013 and December 31, 2012, are summarized as follows (Unit:
Won in millions):
Card asset ￦ 72,635 ￦ 64,738
Allowance for doubtful accounts (33,649) (30,576)
Total ￦ 38,986 ￦ 34,162

- 25 -
3) Concentrations of credit risk
Concentrations of credit risk by industry of corporate loans as of March 31, 2013 and December 31,
2012, are summarized as follows (Unit: Won in millions):
Book value
before
allowance
for doubtful
accounts Ratio
Allowance
for
doubtful
accounts
Book
value
Book value
before
allowance
for doubtful
accounts Ratio
Allowance
for
doubtful
accounts
Book
value
Financing ￦ 175,062 32.19% ￦ (210) ￦ 174,852 ￦ 121,927 25.42% ￦ (219) ￦ 121,708
Manufacturing 124,974 22.98% (817) 124,157 161,781 33.73% (863) 160,918
Service 190,335 35.00% (2,622) 187,713 149,343 31.14% (1,997) 147,346
Public 84 0.02% - 84 145 0.03% - 145
Others 53,346 9.81% (829) 52,517 46,434 9.68% (1,683) 44,751
Total ￦ 543,801 100.00% ￦ (4,478) ￦ 539,323 ￦ 479,630 100.00% ￦ (4,762) ￦474,868
(3) Liquidity risk
The Company’s financial liabilities by residual contractual maturity as of March 31, 2013 and December 31,
2012, are classified as follows (Unit: Won in millions):
March 31, 2013
Immediate
payment
Less than
1 year 1–5 years
More than
5 years Total
Borrowings ￦ - ￦ 65,473 ￦ 63,582 ￦ - ￦ 129,055
Bonds payable - 2,253,961 4,514,468 247,673 7,016,102
Derivatives liabilities - 25,285 15,837 - 41,122
Other liabilities 52,767 1,183,945 192 - 1,236,904
Total ￦ 52,767 ￦ 3,528,664 ￦ 4,594,079 ￦ 247,673 ￦ 8,423,183
These amounts include all cash inflows such as interests without discount and other liabilities and are
composed of accounts payable, accrued expense, deposit received, finance lease liabilities and guarantee
deposit received.
December 31, 2012
Immediate
payment
Less than
1 year 1–5 years
More than
5 years Total
Borrowings ￦ - ￦ 429,738 ￦ 64,417 ￦ - ￦ 494,155
Bonds payable - 2,108,561 4,801,662 230,914 7,141,137
Derivatives liabilities - 32,147 47,682 - 79,829
Other liabilities 42,139 1,421,832 192 - 1,464,163
Total ￦ 42,139 ￦ 3,992,278 ￦ 4,913,953 ￦ 230,914 ￦ 9,179,284
These amounts include all cash inflows such as interests without discount and other liabilities and are
composed of accounts payable, accrued expense, deposit received, finance lease liabilities and guarantee
deposit received.

- 26 -
(4) Market risk
The result of interest rate Value at Risk (VaR) calculated under normal distribution of interest rate as of
March 31, 2013 and December 31, 2012, is as follows (Unit: Won in millions):
Interest rate VaR ￦ 6,502 ￦ 1,197
(5) Capital management
The Parent (specialized credit finance company) must maintain adjusted capital adequacy ratio in
accordance with Specialized Credit financial business 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
consolidated financial statements.
The Parent maintains an adjusted capital adequacy ratio of more than 8%.
30. FINANCIAL ASSETS AND FINANCIAL LIABILITIES:
(1) Fair value of financial assets and liabilities
The fair value of financial assets and financial liabilities as of March 31, 2013 and December 31, 2012, are
summarized as follows (Unit: Won in millions):
Book value Fair value Book value Fair value
Assets
Financial assets
Cash and bank
deposit ￦ 912,393 ￦ 912,393 ￦ 824,576 ￦ 824,576
Investment
financial assets 1,767 1,767 1,767 1,767
Card assets 8,975,757 9,398,488 9,707,038 10,119,434
Other assets 172,905 173,317 182,292 182,697
Total ￦10,062,822 ￦10,485,965 ￦10,715,673 ￦11,128,474
Liabilities
Financial liabilities
Borrowings ￦ 127,500 ￦ 128,911 ￦ 487,500 ￦ 488,832
Bonds payable 6,443,507 6,680,641 6,533,176 6,740,956
Other liabilities 1,259,024 1,259,028 1,517,677 1,517,676
Total ￦ 7,830,031 ￦8,068,580 ￦ 8,538,353 ￦ 8,747,464
The Company’s valuation techniques and relevant policies with regard to the fair value are the same as
those used for previous year.

- 27 -
(2) Netting on financial assets and financial liabilities
Derivative assets and derivative liabilities recognized by the Company can be set off in accordance with the
future events described in derivative master netting agreements.
The effects of netting agreements as of March 31, 2013 and December 31, 2012, are as follows (Unit: Won
in millions):
March 31, 2013
Related amounts not set off
in the statement of financial
position
Gross
amounts of
recognized
financial
assets/
liabilities
Gross
amounts of
recognized
financial
liabilities set
off in the
statement of
financial
position
Net amounts
of financial
assets/liabilitie
s presented in
the statement
of financial
position
Financial
instruments
Cash
collateral
pledged Net amount
Financial assets
Derivatives assets ￦ 428 ￦ - ￦ 428 ￦ - ￦ - ￦ 428
Derivatives liabilities ￦ 22,162 ￦ - ￦ 22,162 ￦ - ￦ - ￦ 22,162
December 31, 2012
Related amounts not set off
in the statement of financial
position
Gross
amounts of
recognized
financial
assets/
liabilities
Gross
amounts of
recognized
financial
liabilities set
off in the
statement of
financial
position
Net amounts
of financial
assets/liabilitie
s presented in
the statement
of financial
position
Financial
instruments
Cash
collateral
pledged Net amount
Financial assets
Derivatives assets ￦ 901 ￦ - ￦ 901 ￦ 219 ￦ - ￦ 682
Derivatives liabilities ￦ 53,555 ￦ - ￦ 53,555 ￦ 219 ￦ - ￦ 53,336

- 28 -
(3) 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 previous year.
The table below provides the Company’s financial assets and financial liabilities recorded at fair value in
the condensed consolidated statements of financial position as of March 31, 2013 and December 31, 2012,
(Unit: Won in millions):
March 31, 2013
Book value Fair value Level 1 Level 2 Level 3
Financial assets
Derivatives assets ￦ 428 ￦ 428 ￦ - ￦ 428 ￦ -
Derivatives liabilities ￦ 22,162 ￦ 22,162 ￦ - ￦ 22,162 ￦ -
December 31, 2012
Book value Fair value Level 1 Level 2 Level 3
Financial assets
Derivatives assets ￦ 901 ￦ 901 ￦ - ￦ 901 ￦ -
Derivatives liabilities ￦ 53,555 ￦ 53,555 ￦ - ￦ 53,555 ￦ -
The table below provides the Company’s financial assets and financial liabilities that are carried at cost
since the fair values of the financial instruments are not readily determinable in the condensed consolidated
statements of financial position as of March 31, 2013 and December 31, 2012 (Unit: Won in millions):
As of March 31, 2013 As of December 31, 2012
Investment financial assets
Financial assets AFS(*) ￦ 1,767 ￦ 1,767
(*) Financial assets AFS are unlisted equity securities and recorded as at cost since they do not have quoted
prices in an active market and the fair values are not measured with reliability.
(4) The Company recognizes the transfers on the date of the event of change in circumstances that caused the
transfers.
(5) Valuation techniques and inputs used in measuring financial assets and financial liabilities categorized
within Level 2
- Derivative assets and derivative liabilities
Derivative assets and derivative liabilities consist of currency swaps and interest rate swaps.
Fair value of a currency swap is measured using reporting period end’s forward exchange rate whose term
is same as residual period to maturity of the currency swap. In case that the forward exchange rate whose
term is matched to the residual period to maturity is not disclosed in the market, the forward exchange rate
is assumed by interpolating using announced forward exchange rates by terms. Discount rate used in
measuring fair value of a currency swap is a yield curve deducted by announced interest rate in the market.
Discount rate and forward interest rate used in measuring fair value of an interest rate swap is determined
based on a yield curve deducted by announced rates in the market as of reporting period end. The fair value
of an interest rate swap is measured by discounting future cash flows assumed using the forward interest
rate above.
The inputs measuring a currency swap and an interest rate swap are deducted by observable forward
exchange rates and yield curves in the market as of reporting period end. Therefore, the Company classifies
a currency swap and an interest rate swap as Level 2 in fair value hierarchy.

- 29 -
(6) There are no significant changes in business environment or economic environment that affect fair values
of financial assets and financial liabilities held by the Company as of March 31, 2013.
(7) Book value of financial assets and financial liabilities
The table below provides book value by category of financial assets and financial liabilities recorded at fair
value in the consolidated statements of financial position as of March 31, 2013 and December 31, 2012
(Unit: Won in millions):
March 31, 2013
Financial asset at
FVTPL
Loans and
receivables
Financial
assets
AFS
Hedging
derivatives TotalTrading
Designated at
FVTPL
Financial assets
Cash and bank deposit ￦ - ￦ - ￦ 912,393 ￦ - ￦ - ￦ 912,393
Investment financial
assets - - - 1,767 - 1,767
Card assets - - 8,975,757 - - 8,975,757
Other assets - - 172,477 - 428 172,905
Total ￦ - ￦ - ￦ 10,060,627 ￦ 1,767 ￦ 428 ￦10,062,822
March 31, 2013
Financial liabilities at
FVTPL
Amortized
cost
Hedging
Designated at
FVTPL
Borrowings ￦ - ￦ - ￦ 127,500 ￦ - ￦ 127,500
Bonds payable - - 6,443,507 - 6,443,507
Other liabilities - - 1,236,862 22,162 1,259,024
Total ￦ - ￦ - ￦ 7,807,869 ￦ 22,162 ￦ 7,830,031
December 31, 2012
Financial asset at
FVTPL
Loans and
receivables
Financial
assets
AFS
Hedging
Designated at
FVTPL
Financial assets
Cash and bank deposit ￦ - ￦ - ￦ 824,576 ￦ - ￦ - ￦ 824,576
Investment financial
assets - - - 1,767 - 1,767
Card assets - - 9,707,038 - - 9,707,038
Loans - - - - - -
Other assets - - 181,391 - 901 182,292
Total ￦ - ￦ - ￦ 10,713,005 ￦ 1,767 ￦ 901 ￦10,715,673
December 31, 2012
Financial liabilities at
FVTPL
Amortized
cost
Hedging
Designated at
FVTPL
Borrowings ￦ - ￦ - ￦ 487,500 ￦ - ￦ 487,500
Bonds payable - - 6,533,176 - 6,533,176
Other liabilities - - 1,464,122 53,555 1,517,677
Total ￦ - ￦ - ￦ 8,484,798 ￦ 53,555 ￦ 8,538,353
(8)

- 30 -
(8) Net profit or loss of financial instruments by categories
Net profit or loss of financial instruments by categories for the three months ended March 31, 2013 and
2012, is as follows (Unit: Won in million):
March 31, 2013
Interest
income
Interest
expense
Card
revenue
Card
expenses
(Reversal
of)
impairment
loss
Valuation
gain (loss)
Disposal
gain (loss)
Foreign
currency
translation
gain (loss)
Foreign
exchange
gain (loss)
Financial assets
Loans and
receivables ￦4,841 ￦ - ￦ 591,429 ￦ 247,146 ￦ - ￦ - ￦ - ￦ - ￦ 2,257
Financial
assets AFS - - - - 54 - - - -
Hedging
derivatives - - - - - - - - -
Financial
liabilities
Financial
liabilities at
amortized
cost 79,418 - - - - - (33,378) -
Hedging
derivatives - - - - - 33,415 - - -
Total ￦4,841 ￦ 79,418 ￦ 591,429 ￦ 247,146 ￦ 54 ￦ 33,415 ￦ - ￦ (33,378) ￦ 2,257
March 31, 2012
Interest
income
Interest
expense
Card
revenue
Card
expenses
(Reversal
of)
impairment
loss
Valuation
gain (loss)
Disposal
gain (loss)
Foreign
currency
translation
gain (loss)
Foreign
exchange
gain (loss)
Financial assets
Loans and
receivables ￦ 5,296 ￦ - ￦ 586,824 ￦ 251,048 ￦ - ￦ - ￦ - ￦ (87) ￦ 1,806
Financial
assets AFS - - - - 67 - - - -
Hedging
derivatives - - - - - 5,160 (775) - 775
Financial
liabilities
Financial
liabilities at
amortized
cost 86,663 - - - - - 1,893 -
Hedging
derivatives - - - - - (7,053) - - -
Total ￦5,296 ￦ 86,663 ￦ 586,824 ￦ 251,048 ￦ 67 ￦ (1,893) ￦ (775) ￦ 1,806 ￦ 2,581

- 31 -
31. NET INTEREST INCOME (EXPENSE):
Net interest expense for the three months ended March 31, 2013 and 2012, is as follows (Unit: Won in
millions):
Interest income 2013 2012
Cash and bank deposit ￦ 4,367 ￦ 4,655
Others 474 641
Total 4,841 5,296
Interest expense
Borrowings 4,828 7,129
Bonds payable 74,540 79,479
Others 50 55
Total 79,418 86,663
Net interest expense ￦ (74,577) ￦ (81,367)
32. NET COMMISSION INCOME:
Net commission income for the three months ended March 31, 2013 and 2012, is as follows (Unit: Won in
millions):
2013 2012
Commission income
Card income ￦ 371,210 ￦ 368,337
Total 371,210 368,337
Commission expense
Service fee 142,204 130,964
Financial payment fee 2,898 3,173
A new credit sale handling fee 40,584 29,168
Merchants copayment fee 15 22
Overseas payment fee 15,307 8,809
Other 12,746 8,148
Total 213,754 180,284
Net commission income ￦ 157,456 ￦ 188,053
Commission income and commission expense are included in card income and card expenses, respectively.

- 32 -
33. OTHER OPERATING REVENUE AND OTHER OPERATING EXPENSES:
Other operating income and other operating expenses for the three months ended March 31, 2013 and 2012, are
as follows (Unit: Won in millions):
Three months ended December 31,
Other operating revenue 2013 2012
Foreign exchange gain ￦ 2,983 ￦ 2,968
Foreign currency translation gain - 7,057
Gain on valuation of derivatives 33,415 5,160
Others 9,708 7,517
Total ￦ 46,106 ￦ 22,702
Other operating expenses
Foreign exchange loss 726 387
Foreign currency translation loss 33,378 5,251
Loss on derivative transactions - 775
Loss on valuation of derivatives - 7,053
Others 20,810 8,853
Total ￦ 54,914 ￦ 22,319

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