Hcs 2 q_2019_con_finalsigned

HYUNDAICAPITALSERVICES,INC.ANDSUBSIDIARIES
CondensedConsolidatedInterimFinancialStatements
(Unaudited)
June30,2019
(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
(Based on a report originally issued in Korean)
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 June 30, 2019, the condensed consolidated statements of
comprehensive income for the three-month and six-month periods ended June 30, 2019 and 2018,
changes in equity and cash flows for the six-month periods ended June 30, 2019 and 2018, 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
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
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, 2018, 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 5, 2019, expressed an unqualified opinion. The
accompanying condensed consolidated statement of financial position of the Group as of December 31,
2018, 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
August 13, 2019
This report is effective as of August 13, 2019, 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 June 30, 2019 and December 31, 2018
(In millions of Korean won)
June 30, December 31,
Notes 2019 2018
Assets
Cash and due from other financial institutions
Cash and cash equivalents 4,25 W 986,221 873,041
Due from banks 4 87,343 113,902
Short-term financial investments 5 1,623,070 744,185
2,696,634 1,731,128
Securities
Investments in associates 8 796,416 589,341
Measured at fair value through profit or loss 6 30,413 38,998
Measured at fair value through other comprehensive income 7 70,164 43,240
896,993 671,579
Loans receivable 9,10,28
Loans receivable 10,154,193 10,292,140
Allowance for loan losses (499,804) (514,674)
9,654,389 9,777,466
Installment financial assets 9,10,28
Automobile installment financing receivables 13,164,051 12,201,880
Durable goods installment financing receivables 2 2
Allowance for loan losses (1) (1)
Mortgage installment financing receivables 885 930
Allowance for loan losses (30) (28)
13,046,871 12,081,887
Lease receivables 9,10
Finance lease receivables 2,727,414 2,606,110
Cancelled lease receivables 48,255 43,793
2,702,835 2,578,084
Leased assets
Operating lease assets 2,999,684 2,862,709
Accumulated depreciation (866,604) (859,995)
Accumulated impairment losses (976) (919)
Cancelled lease assets 30,484 16,747
Accumulated impairment losses (6,445) (5,990)
2,156,143 2,012,552
Property and equipment, net 11 233,363 242,716
Right-of-use assets, net 3 41,472 —
Other assets
Non-trade receivables 127,510 118,019
Allowance for doubtful accounts 10 (11,287) (9,992)
Accrued revenues 145,117 133,044
Allowance for doubtful accounts 10 (17,803) (17,917)
Advance payments 54,493 63,400
Prepaid expenses 115,931 97,391
Intangible assets 12 140,094 153,654
Derivative assets 16, 29 131,622 26,542
Leasehold deposits 22,232 23,310
707,909 587,451
Assets held for sale — 5,714
Assets of a disposal group classified as held for sale 33 — 839,752
Total assets W 32,136,609 30,528,329
See accompanying notes to the condensed consolidated interim financial statements.
3

Condensed Consolidated Interim Statements of Financial Position (Unaudited) (Continued)
As of June 30, 2019 and December 31, 2018
Notes 2019 2018
Liabilities
Borrowed funds 13
Borrowings W 3,331,064 3,526,516
Bonds issued 23,282,873 20,761,764
26,613,937 24,288,280
Other liabilities
Non-trade payables 210,361 298,567
Accrued expenses 100,510 99,272
Unearned revenue 16,357 17,487
Withholdings 238,427 189,196
Derivative liabilities 16, 29 142,146 285,007
Lease liabilities 3 38,273 —
Current tax liabilities 51,618 36,857
Employee benefit liabilities 14 15,550 6,455
Deposits received 294,350 329,027
Deferred income tax liabilities 77,219 46,915
Provisions 15 57,495 55,000
1,242,306 1,363,783
Liabilities directly associated with the assets of
a disposal group classified as held for sale 33 — 719,396
Total liabilities 27,856,243 26,371,459
Equity
Equity attributable to the owners of the Company
Issued capital 496,537 496,537
Capital surplus 388,613 408,347
Accumulated other comprehensive loss 24 (82,467) (146,569)
Retained earnings 17 3,477,683 3,364,865
Accumulated other comprehensive income related to
a disposal group classified as held for sale 33 — 1,122
4,280,366 4,124,302
Non-controlling interests — 32,568
Total equity 4,280,366 4,156,870
Total liabilities and equity W 32,136,609 30,528,329
4

Condensed Consolidated Interim Statements of Comprehensive Income (Unaudited)
For the three-month and six-month periods ended June 30, 2019 and 2018
Three-month periods Six-month periods
ended June 30, ended June 30,
Notes 2019 2018 2019 2018
Operating revenue
Interest income 18 W 9,473 6,907 14,586 13,986
Gain on valuation and sale of securities 153 116 298 686
Income on loans 18,19 229,283 239,748 458,908 490,001
Income on installment financial assets 18,19 149,035 126,171 292,498 252,311
Income on leases 18,19 263,307 251,807 532,144 495,997
Gain on sale of loans 12,105 38,328 51,395 54,340
Gain (loss) on foreign currency transactions 1,430 (22,221) 2,253 11,292
Dividend income 590 275 608 5,271
Other operating income 20 151,057 252,312 297,370 308,377
Total operating revenue 816,433 893,443 1,650,060 1,632,261
Operating expenses
Interest expense 18 156,141 139,680 305,319 275,326
Lease expense 19 179,136 157,380 350,372 310,183
Loss on valuation and sale of securities 111 4 130 5
Provision for loan losses 10 77,834 90,100 190,969 191,555
Loss on sale of loans — 2,724 2,128 5,783
Loss on foreign currency transactions 112,108 217,419 214,546 236,083
General and administrative expenses 21 149,857 178,459 323,909 359,062
Other operating expenses 20 26,836 (12,475) 55,148 45,501
Total operating expenses 702,023 773,291 1,442,521 1,423,498
Operating income 114,410 120,152 207,539 208,763
Non-operating income
Share in net income of associates
under the equity method 8 17,227 17,678 30,455 36,196
Gain on sale of property and equipment 57 28 81 28
Gain on sale of assets held-for-sale — — 20,751 —
Other 1,457 1,591 5,382 3,615
Total non-operating income 18,741 19,297 56,669 39,839
Non-operating expenses
Share in net loss of associates
under the equity method 8 1,742 (27) 1,742 —
Loss on sale of property and equipment — 10 1 89
Donation 145 40 232 116
Other 311 1 327 1
Total non-operating expenses 2,198 24 2,302 206
Profit before income taxes 130,953 139,425 261,906 248,396
Income tax expense 22 30,441 34,475 62,240 61,959
Profit for the period W 100,512 104,950 199,666 186,437
5

Condensed Consolidated Interim Statements of Comprehensive Income (Unaudited) (Continued)
For the three-month and six-month periods ended June 30, 2019 and 2018
Three-month periods Six-month periods
Notes 2019 2018 2019 2018
Other comprehensive income (loss), 24
net of income taxes
Items that will never be reclassified
to profit or loss:
Remeasurements of defined
benefit plans W (399) 439 (1,326) 961
Net change in unrealized gains and losses on
equity securities measured at fair value
through other comprehensive income 4,904 1,513 7,511 2,983
Items that are or may be reclassified
subsequently to profit or loss:
Share in other comprehensive income
(loss) of associates under the
equity method 24,141 (1,647) 37,832 11,137
Net change in effective portion of
cash flow hedges 559 (53,000) 17,849 (102,908)
Net change in foreign currency
translation adjustments 698 (9,416) 486 1,193
Net change in unrealized valuation gains and losses
on debt securities measured at fair value through
other comprehensive income 565 40 566 70
Total other comprehensive
income (loss), net of
income taxes 30,468 (62,071) 62,918 (86,564)
Total comprehensive income for the period W 130,980 42,879 262,584 99,873
Profit attributtable to:
Owners of the Company W 100,512 107,384 200,109 191,341
Non-controlling interests — (2,434) (443) (4,904)
W 100,512 104,950 199,666 186,437
Total comprehensive income
attributtable to:
Owners of the Company W 130,980 48,163 263,089 104,171
Non-controlling interests — (5,284) (505) (4,298)
W 130,980 42,879 262,584 99,873
Earnings per share
Basic and diluted earnings per share 23 W 1,012 1,081 2,015 1,927
(in won)
6

Condensed Consolidated Interim Statements of Changes in Equity (Unaudited)
For the six-month periods ended June 31, 2019 and 2018
Equity attributable to owners of the Company
Capital surplus Accumulated Equity relating to Non-
Issued Additional paid-in Other capital other compre a disposal group classi Retained controlling Total
Capital capital surplus -hensive income -fied as held for sale earnings Total interests equity
Balances as of January 1, 2018 W 496,537 369,339 39,008 (38,237) — 3,164,079 4,030,726 38,754 4,069,480
Adjustment upon adoption of K-IFRS 1109 (Including tax effects) — — — (71) — (45,079) (45,150) 604 (44,546)
Adjustment upon adoption of K-IFRS 1115 (Including tax effects) — — — — — 12,794 12,794 — 12,794
Restated balances as of January 1, 2018 496,537 369,339 39,008 (38,308) — 3,131,794 3,998,370 39,358 4,037,728
Profit for the period — — — — — 191,341 191,341 (4,904) 186,437
Other comprehensive income (loss):
Share in other comprehensive income of associates under the equity method — — — 11,137 — — 11,137 — 11,137
Net change in effective portion of cash flow hedges — — — (102,908) — — (102,908) — (102,908)
Net change in foreign currency translation adjustments — — — 587 — — 587 606 1,193
Remeasurements of defined benefit plans — — — 961 — — 961 — 961
Net change in unrealized gains and losses on equity securities measured at fair value
through other comprehensive income — — — 2,983 — — 2,983 — 2,983
Net change in unrealized valuation gains and losses on debt securities measured at
fair value through other comprehensive income — — — 70 — — 70 — 70
Total comprehensive income — — — (87,170) — 191,341 104,171 (4,298) 99,873
Transaction with owners of the Company
Annual dividends — — — — — (85,106) (85,106) — (85,106)
Balances as of June 30, 2018 W 496,537 369,339 39,008 (125,478) — 3,238,029 4,017,435 35,060 4,052,495
Balances as of January 1, 2019 W 496,537 369,339 39,008 (146,569) 1,122 3,364,865 4,124,302 32,568 4,156,870
Adjustment upon adoption of K-IFRS 1116 (Including tax effects) — — — — — — — — —
Restated balances as of January 1, 2019 496,537 369,339 39,008 (146,569) 1,122 3,364,865 4,124,302 32,568 4,156,870
Profit for the period — — — — — 200,109 200,109 (443) 199,666
Other comprehensive income (loss):
Share in other comprehensive income of associates under the equity method — — — 37,832 — — 37,832 — 37,832
Net change in effective portion of cash flow hedges — — — 17,849 — — 17,849 — 17,849
Net change in foreign currency translation adjustments — — — 1,670 75 — 1,745 (62) 1,683
Remeasurements of defined benefit plans — — — (1,326) — — (1,326) — (1,326)
Net change in unrealized gains and losses on equity securities measured at fair value
through other comprehensive income — — — 7,511 — — 7,511 — 7,511
Net change in unrealized valuation gains and losses on debt securities measured at
fair value through other comprehensive income — — — 566 — — 566 — 566
Total comprehensive income — — — 64,102 75 200,109 264,286 (505) 263,781
Transaction with owners of the Company
Changes in subsidiaries from paid-in capital increase and others — — (19,734) — — — (19,734) 19,734 —
Sale of investments in subsidiaries — — — — (1,197) — (1,197) (51,797) (52,994)
Annual dividends — — — — — (87,291) (87,291) — (87,291)
Total transaction with owners of the Company — — (19,734) — (1,197) (87,291) (108,222) (32,063) (140,285)
Balances as of June 30, 2019 W 496,537 369,339 19,274 (82,467) — 3,477,683 4,280,366 — 4,280,366
7

Condensed Consolidated Interim Statements of Cash Flows (Unaudited)
For the six-month periods ended June 30, 2019 and 2018
Notes 2019 2018
Cash flows from operating activities
Cash generated from operations 25 W (1,518,836) (334,089)
Interest received 13,472 13,456
Interest paid (294,242) (293,727)
Dividends received 608 5,271
Income taxes paid (37,555) (48,580)
Net cash provided by (used in) operating activities (1,836,553) (657,669)
Cash flows from investing activities
Dividends received from associates — 88
Acquisition of investments in associates (30,375) (15,389)
Acquisition of property and equipment (5,804) (8,438)
Proceeds from sale of property and equipment 134 29
Acquisition of intangible assets (10,525) (13,488)
Increase in leasehold deposits (889) (306)
Decrease in leasehold deposits 1,526 2,376
Increase in non-current assets held for sale, net (32,316) —
Proceeds from sale of non-current assets held for sale 29,437 —
Net cash used in investing activities (48,812) (35,128)
Cash flows from financing activities 25
Proceeds from borrowings 1,504,685 1,849,995
Repayments of borrowings (1,700,231) (1,248,384)
Proceeds from issue of bonds 5,009,568 4,135,531
Repayments of bonds (2,703,746) (3,622,659)
Net increase(decrease) in derivative financial instruments (17,055) (19,172)
Repayment of lease liabilities (7,385) —
Dividends paid (87,291) (85,106)
Net cash provided by financing activities 1,998,545 1,010,205
Effect of exchange rate fluctuations on
cash and cash equivalents held — —
Net increase in cash and cash equivalents 113,180 317,408
Cash and cash equivalents at beginning of the year 25 873,041 609,510
Cash and cash equivalents at end of the period 25 W 986,221 926,918
8

Notes to the Condensed Consolidated Interim Financial Statements
(Unaudited)
June 30, 2019
9 (Continued)
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 June 30, 2019, the Company’s operations are headquartered at
3 Uisadang-daero, Yeongdeungpo-gu, Seoul, Korea. Its major shareholders are Hyundai Motor
Company and Kia Motors with 59.68% and 20.10% ownership, respectively.
The consolidated financial statements include the accounts of the Company and its subsidiaries,
including Autopia 56th
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 five other associates are accounted for using the equity
method.
(1) The Group’s subsidiaries
Subsidiaries as of June 30, 2019 and December 31, 2018 are as follows. Asset securitization
vehicles are special purpose vehicles which are sponsored by the Group under its securitization program.
The Group is exposed to variability of returns of the vehicles through its holding of debt securities in
the vehicles and by issuing financial guarantees to the vehicles; and the Group manages key decisions
that significantly affect these vehicles’ returns. As a result, the Group has concluded that it controls
these vehicles even though its ownership interests over these securitization vehicles do not exceed 50%.
(*1) Including trusts for asset securitization.
(*2) Hyundai Capital Europe GmbH holds 100% ownership interests of Hyundai Capital Services
Limited Liability Company located at Russia.
(*3) As the sale of 16% out of 65% shares the Group held was determined, all assets and liabilities
of Hyundai Capital Bank Europe GmbH were classified as assets and liabilities of a disposal group held
for sale as of December 31, 2018. The investment in Hyundai Capital Bank Europe GmbH is accounted
for using the equity method with 49% of the outstanding shares as the sale procedure was completed as
of June 30, 2019.
Ownership June 30, December 31,
Location (%) 2019 2018
Asset securitization vehicles:
Korea 0.5 Autopia 56th
, 57
th
, 58th
, 59th
, 60th
, 61st
, 62nd
Autopia 55th
, 56th
, 57th
, 58th
, 59th
, 60
th
, 61
st
,
63rd
, 64th
, 65th
, 66th
and 67th
ABS SPCs (*1) 62nd
, 63rd
, 64th
and 65
th
ABS SPCs (*1)
Limited liability companies
Germany 100 Hyundai Capital Europe GmbH (*2) Hyundai Capital Europe GmbH (*2)
65 - Hyundai Capital Bank 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
Stock company:
Australia 100 Hyundai Capital Australia Pty Limited Hyundai Capital Australia Pty Limited
Trusts
Korea 100 Specified money trust (42 trusts) Specified money trust (24 trusts)

(Unaudited)
June 30, 2019
10 (Continued)
(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 six-month period ended June 30, 2019 are as follows:
(a) Subsidiaries newly included in the consolidated financial statements during the six-month
period ended June 30, 2019
• Autopia 66th
and 67th
ABS SPC (including trusts for asset securitization): structured entity
newly established for the Autopia asset securitization program.
(b) Subsidiaries excluded from the consolidated financial statements during the six-month
period ended June 30, 2019
• Autopia 55th
ABS SPC (including trust for asset securitization): structured entity dissolved.
• Hyundai Capital Bank Europe GmbH: a part of shares held was sold.
(3) Key financial information of subsidiaries
Key financial information of subsidiaries as of June 30, 2019 and December 31, 2018, and for the
six-month period ended June 30, 2019 and 2018 is summarized as follows:
(4) Nature of risks related to consolidated structured entities
As of June 30, 2019, the Company provides guarantees to the counterparties of currency swaps at
Autopia 57th
, 59th
and 60th
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) June 30, 2019 December 31, 2018
Assets Liabilities Equity Assets Liabilities Equity
Hyundai Capital Europe GmbH W 15,981 1,228 14,753 14,465 7,421 7,044
Hyundai Capital Bank Europe GmbH — — — 847,846 748,013 99,833
Hyundai Capital India Private Ltd. 730 163 567 693 186 507
Hyundai Capital Brasil LTDA 1,005 — 1,005 8,058 — 8,058
Hyundai Capital Australia Pty Limited 953 47 906 887 51 836
Autopia ABS SPCs 2,799,577 2,800,567 (990) 2,249,630 2,250,007 (377)
Autopia ABS trusts 4,795,250 4,730,320 64,930 4,503,884 4,419,820 84,064
Specified money trusts 1,286,841 — 1,286,841 800,212 — 800,212
(in millions of Korean won) Six-month period ended June 30,
2019 2018
Total Total
compre- compre-
Operating Profit (loss) hensive Operating Profit (loss) hensive
revenue for the period income (loss) revenue for the period income (loss)
Hyundai Capital Europe GmbH W 6,022 311 1,704 4,060 2,316 2,649
Hyundai Capital Bank Europe GmbH — — — 23,823 (14,013) (12,297)
Hyundai Capital India Private Ltd. 564 35 60 564 (27) (40)
Hyundai Capital Brasil LTDA 2,012 939 1,167 2,913 1,314 478
Hyundai Capital Australia Pty Limited 622 46 70 595 53 43
Autopia ABS SPCs 39,278 (570) (593) 64,296 (714) (2,609)
Autopia ABS trusts 105,915 (2,783) (2,783) 128,965 4,357 4,357
Specified money trusts 1,641 1,641 1,641 924 924 924

(Unaudited)
June 30, 2019
11 (Continued)
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,
2018. 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.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognized in the period in which the estimates are revised and in any future periods
affected.
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, 2018.
(3) Measurement of fair value
The Group regularly reviews significant unobservable inputs and valuation adjustments. If third
party information, such as broker quotes or pricing services, is used to measure 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).
If the inputs used to measure 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.

(Unaudited)
June 30, 2019
12 (Continued)
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 30.
3. Significant Accounting Policies
The significant accounting policies applied by the Group in preparation of its condensed
consolidated 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, 2018. The Group has applied the following standards, with
a date of initial application of January 1, 2019.
K-IFRS No. 1116, Leases
K-IFRS No. 1116, Leases which was published on May 2017, is effective for annual period
beginning on January 1, 2019. K-IFRS 1116 has replaced K-IFRS No. 1017, Leases, K-IFRS No.
2104, Determining whether an Arrangement contains a Lease, K-IFRS No. 2015, Operating Leases-
Incentives and K-IFRS No. 2027, Evaluating the Substance of Transactions Involving the Legal Form
of a Lease.
Based on K-IFRS 1116, a single lessee accounting model was adopted, thus the Group recognizes
a right-of-use asset representing its right to use the underlying leased assets and a lease liability
representing its obligation to make lease payments. An accounting model for lessors is similar as the
previous model.
The Group recognized the cumulative effect of initially applying K-IFRS 1116 as an adjustment to
the opening balance of retained earnings as of January 1, 2019 (the date of initial application). Thus,
the comparative financial information was prepared applying K-IFRS 1017 and the related
interpretation and not restated retrospectively. The items of the change in accounting for leases in detail
are as follows:
(a) Definition
The Group determined whether an arrangement is a lease or contains a lease at an inception date,
applying K-IFRS No. 2104, Determining whether an Arrangement contains a Lease. The Group shall
assess, based on the new definition of a lease, whether the contract is, or contains, a lease. According
to K-IFR 1116, the contract is, or contains, the lease if the contract conveys the rights to control the use
of an identified asset for a period of time in exchange for consideration.
At the date of initial application of K-IFRS 1116, the Group decided to apply the practical expedient.
The Group was not required to reassess whether contracts which were previously identified as leases
are, or contain, leases. Contracts which were not previously identified as leases according to K-IFRS
1017 and K-IFRS 2104 were not reassessed. Therefore, the definition of the lease according to K-IFRS
1116 is only applied to contracts that the Group newly enters into or which are revised after January 1,
2019.

(Unaudited)
June 30, 2019
13 (Continued)
K-IFRS 1116 requires the lessee to allocate the consideration to those components on the basis of
the relative stand-alone price of each of lease component and non-lease component at the inception date
or the date of reassessment. As the Group decided to apply the practical expedient, the Group elects not
to separate non-lease components from lease components, and instead accounts for each lease
component and any associated non-lease components as a single lease component.
(b) A lessee
The Group previously classified a lease as an operating lease or a finance lease depending on
whether the lease transferred substantially all the risks and rewards identical to ownership of an
underlying asset as a lessee. According to K-IFRS 1116, the Group has recognized right-of-use assets
and lease liabilities related to most of leases. Therefore, most of leases are recognized in the statement
of financial position.
However, the Group elects not to recognize a right-of-use asset and a lease liability for short-term
leases and leases for which the underlying asset is of low value. The Group shall recognize the lease
payments associated with those leases as an expense on a straight-line basis over the lease term.
The Group recognizes a right-of-use asset and a lease liability at the commencement date. The
Group initially measures the right-of-use asset at cost. After the commencement date, the Group
subsequently measures the right-of-use asset applying a cost model at cost less any accumulated
depreciation and any accumulated impairment losses and adjusted for any remeasurement of the lease
liability.
At the commencement date, the Group shall recognize the lease liability at the present value of the
lease payments that are not paid at the date. The lease payments shall be discounted using the interest
rate implicit in the lease. If the rate cannot be readily determined, the Group’s incremental borrowing
rate shall be used. The Group uses the incremental borrowing rate.
The Group subsequently measures the lease liability by increasing the carrying amount to reflect
interest on the lease liability and reducing the carrying amount to reflect the lease payments made. The
Group remeasures the lease liability when there is a change in future lease payments resulting from
changes in an index or a rate used to determine those payments, the amounts expected to be payable
under a residual value guarantee or an assessment whether the Group is reasonably certain to exercise
an option to extend the lease or to purchase the underlying asset, or not to exercise an option to terminate
the lease.
The Group determines the lease term as the non-cancellable period of a lease with periods covered
by an option to extend the lease. The assessment whether the Group is reasonably certain to exercise
the option to extend the lease or not affects the determination of the lease term. The carrying amounts
of the right-of-use asset and the lease liability are significantly affected by the assessment.
All lease contracts the Group has entered into were classified as operating leases applying K-IFRS
1017. The Group measured the lease liabilities at the present value of the lease payments that are not
paid using the Group’s incremental borrowing rate and the right-of-use assets at an amount equal to the
lease liabilities, adjusted by the amount of any prepaid or accrued lease payments relating to that leases
as of January 1, 2019.
When the Group applies K-IFRS 1116, the Group excludes initial direct costs from the
measurement of the right-of-use assets at the date of initial application, using the practical expedients.

(Unaudited)
June 30, 2019
14 (Continued)
(c) A lessor
The accounting the Group applies as a lessor is not different from the accounting requirements in
K-IFRS 1017.
(d) Financial effect
At the date of initial application of K-IFRS 1116, the Group recognized the right-of-use assets and
the lease liabilities, and there is no adjustment to the opening balance of retained earnings.
(*1) Excluding short-term leases and leases for which the underlying asset is of low value.
(*2) The incremental borrowing rate on weighted average the Group used when recognizing and
measuring the lease liabilities was 2.42%.
The following table presents a reconciliation of changes in the carrying amount of the right-of-use
assets for the six-month period ended June 30, 2019.
The Group recognized W38,273 million of the lease liabilities as of June 30, 2019 and W448
millions of interest expenses for the six-month period ended June 30, 2019.
(2) New accounting standards issued but not yet effective
There is no new standard which is issued and effective for annual periods beginning on or after
January 1, 2019.
(in millions of Korean won) January 1, 2019
Right-of-use assets
Lease liabilities W 37,537
Prepayment of lease payments 557
Restoration costs 2,902
W 40,996
Gross amount of minimum lease
payments before discount(*1) W 41,126
Lease liabilities at the date
of initial application(*2) 37,537
Cancellation
(in millions of Korean won) Opening balance Addition Depreciation or termination Closing balance
Buildings W 40,038 10,826 (8,659) (965) 41,240
Vehicles 188 53 (119) — 122
Fixture and furniture 770 — (660) — 110
W 40,996 10,879 (9,438) (965) 41,472

(Unaudited)
June 30, 2019
15 (Continued)
4. Due from Banks
Restricted accounts in due from banks as of June 30, 2019 and December 31, 2018 are as follows:
5. Short-term Financial Investments
Short-term financial investments as of June 30, 2019 and December 31, 2018 are as follows:
For liquidity management, the Group holds short-term investments 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.
6. Securities Measured at Fair Value through Profit or Loss
Securities measured at fair value through profit or loss as of June 30, 2019 and December 31, 2018
are as follows:
(*1) The Group recognized impairment losses except for memorandum values before previous year.
(*2) The fair values of the beneficiary certificate as of June 30, 2019 are quoted from bank or
broker-dealer companies, and as of December 31, 2018 are quoted from an independent valuation
service provider, using the valuation technique based on the NAV (net asset value) approach.
(in millions of Korean won) June 30, December 31,
2019 2018 Restriction
Shinhan Bank and 2 others W 16,400 16,400 Loans secured by saving accounts
KEB Hana Bank and 2 others 10 10 Key money deposits for checking account
Citi Bank and 11 others 88,773 145,443 Deposits in trust of ABS SPCs
W 105,183 161,853
(in millions of Korean won) Carrying amount
2019 2018
Commercial paper W 1,172,798 573,998
Bank debenture — 60,154
Government and public bonds 450,272 110,033
W 1,623,070 744,185
2019 2018
Equity securities (*1) W — —
Beneficiary certificates (*2)
Hyundai Ship Special Asset Investment Trust III — 3,581
Hi Ocean PCTC PF Special Asset Ship 2 1,017 1,002
Multi asset VLOC Private Fund Special Asset Trust 1 — 4,892
Multi asset KDB Ocean value up Private Fund Special Asset Trust 8 5,506 5,725
KOTAM SML Private Fund Special Asset Trust 1 2,401 2,803
Multi asset KDB Ocean value up Private Fund Special Asset Trust PR-2 20,995 20,995
Asia Pacific No.49 Ship Investment Co., Ltd. 494 —
30,413 38,998
W 30,413 38,998

(Unaudited)
June 30, 2019
16 (Continued)
7. Securities Measured at Fair Value through Other Comprehensive Income
Securities measured at fair value through other comprehensive income as of June 30, 2019 and
December 31, 2018 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.
(a) Equity Securities
(*1) The fair value of HYUNDAI M Partners Co., Ltd. is estimated at the average of appraisal
value quoted from two independent valuation service providers.
2019 2018
Equity securities (*1)
Listed equity securities W 34,313 23,782
Unlisted equity securities 11,497 12,119
45,810 35,901
Debt securities
Government and public bonds 1,121 1,248
Corporate bonds 23,233 6,091
24,354 7,339
W 70,164 43,240
Number Ownership June 30, December 31,
of shares (%) 2019 2018
Listed equity securities
NICE Information Service Co., Ltd. 1,365,930 2.25 W 23,153 14,957
NICE Holdings Co., Ltd. 491,620 1.30 11,160 8,825
Unlisted equity securities
HYUNDAI M Partners Co., Ltd. (*1) 1,700,000 9.29 11,497 12,119
W 45,810 35,901

(Unaudited)
June 30, 2019
17 (Continued)
(b) Debt Securities
(*1) The fair value of Seoul Metropolitan Rapid Transit Corp. and other Korean municipal bonds
is quoted from broker and dealer companies. The fair values of corporate bonds are quoted from an
independent valuation service provider.
(*2) The fair values of H&C 1st
ABS SPC, Veritas 1st
ABS SPC and Able View Tower 1st
Private
Placing Corporate Bond are quoted from an independent valuation service provider.
8. Investments in Associates
(1) Details of investments in associates
Details of investments in associates as of June 30, 2019 and December 31, 2018 are as follows:
(*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 joint venturer 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 June 30, 2019.
Issuer 2019 2018
Government and Seoul Metropolitan Rapid
public bonds (*1) Transit Corp. and other
Korean municipal bonds W 1,121 1,248
Corporate bonds (*2) H&C 1st
ABS SPC 5,129 5,084
Veritas 1st
ABS SPC 1,008 1,007
Able View Tower 1st
Private
Placing Corporate Bond 14,096 —
Wooricard Auto 1st
Private
Placing Corporate Bond 3,000 —
W 24,354 7,339
June 30, 2019
Principal Date of
Ownership place of financial
(%) business statements Industry
Korea Credit Bureau (*1) 7.00 Korea 06/30/2019 Credit information service
Hyundai Capital UK Ltd. 29.99 U.K. 06/30/2019 Automobile finance
Beijing Hyundai Auto Finance Co., Ltd. 46.00 China 06/30/2019 Automobile finance
Hyundai Capital Canada Inc. 20.00 Canada 06/30/2019 Automobile finance
Hyundai Capital Bank Europe GmbH 49.00 Germany 06/30/2019 Automobile finance
BANCO HYUNDAI CAPITAL BRASIL S.A. (*2) 50.00 Brazil 06/30/2019 Automobile finance

(Unaudited)
June 30, 2019
18 (Continued)
(*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 joint venturer 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, 2018.
(2) Summary of financial information of investees
Summary of financial information of investees as of June 30, 2019 and December 31, 2018, and
for the six-month periods ended June 30, 2019 and 2018, and the reconciliation of investee’s net assets
to the carrying amount of the investments in the Group’s financial statements are as follows:
December 31, 2018
Principal Date of
Ownership place of financial
(%) business statements Industry
Korea Credit Bureau (*1) 7.00 Korea 12/31/2018 Credit information service
Hyundai Capital UK Ltd. 29.99 U.K. 12/31/2018 Automobile finance
Beijing Hyundai Auto Finance Co., Ltd. 46.00 China 12/31/2018 Automobile finance
Hyundai Capital Canada Inc. 20.00 Canada 12/31/2018 Automobile finance
BANCO HYUNDAI CAPITAL BRASIL S.A. (*2) 50.00 Brazil 12/31/2018 Automobile finance
(in millions of Korean won) June 30, 2019
The
Group’s
Total Total Issued Total share in Carrying
assets liabilities capital equity net assets Goodwill amount
Korea Credit Bureau W 93,612 22,869 10,000 70,743 4,952 1,036 5,988
Hyundai Capital UK Ltd. 4,779,535 4,505,193 96,055 274,342 82,276 — 82,276
Beijing Hyundai Auto Finance Co., Ltd. 5,499,120 4,425,695 708,965 1,073,425 493,776 — 493,776
Hyundai Capital Canada Inc. 1,676,126 1,484,893 208,608 191,233 38,247 2,145 40,392
Hyundai Capital Bank Europe GmbH 1,232,158 1,013,093 14,282 219,065 107,049 22,341 129,390
BANCO HYUNDAI CAPITAL BRASIL S.A. 155,699 66,510 91,529 89,189 44,594 — 44,594
(in millions of Korean won) Six-month period ended June 30, 2019
Other Total
compre- compre-
Operating Interest Interest Net hensive hensive
revenue income expense income income income Dividends
Korea Credit Bureau W 41,936 217 — 5,657 — 5,657 1,500
Hyundai Capital UK Ltd. 75,805 72,625 20,672 24,277 7,506 31,783 —
Beijing Hyundai Auto Finance Co., Ltd. 210,503 200,756 93,994 45,819 27,304 73,123 —
Hyundai Capital Canada Inc. 194,989 171,235 146,008 8,306 13,214 21,520 —
Hyundai Capital Bank Europe GmbH 32,947 26,594 3,624 (1,903) 5,298 3,395 —
BANCO HYUNDAI CAPITAL BRASIL S.A. 730 730 81 (2,290) 1,296 (994) —

(Unaudited)
June 30, 2019
19 (Continued)
(in millions of Korean won) December 31, 2018
The
Group’s
Total Total Issued Total share in Carrying
assets liabilities capital equity net assets Goodwill amount
Korea Credit Bureau W 88,797 22,788 10,000 66,009 4,620 1,037 5,657
Hyundai Capital UK Ltd. 4,117,794 3,875,236 96,055 242,558 72,744 — 72,744
Beijing Hyundai Auto Finance Co., Ltd. 5,143,183 4,142,880 708,965 1,000,303 460,139 — 460,139
Hyundai Capital Canada Inc. 1,385,284 1,215,570 208,608 169,714 33,943 2,145 36,088
BANCO HYUNDAI CAPITAL BRASIL S.A. 29,875 448 30,779 29,427 14,713 — 14,713
Other Total
compre- compre-
Operating Interest Interest Net hensive hensive
revenue income expense income income income Dividends
Korea Credit Bureau W 37,342 145 — 5,919 — 5,919 1,250
Hyundai Capital UK Ltd. 62,922 62,684 15,108 21,469 3,584 25,053 —
Beijing Hyundai Auto Finance Co., Ltd. 236,306 225,306 96,007 62,962 32,068 95,030 —
Hyundai Capital Canada Inc. 194,715 147,739 131,474 1,113 (1,289) (176) —
BANCO HYUNDAI CAPITAL BRASIL S.A. 291 291 — 152 (1,752) (1,600) —

(Unaudited)
June 30, 2019
20 (Continued)
(3) Reconciliation of changes in investments in associates
The following tables present a reconciliation of changes in the carrying amounts of investments in
associates for the six-month periods ended June 30, 2019 and 2018:
Share in
other
compre-
Opening Share in hensive Closing
balance Acquisition net income income Dividends Others balance
Korea Credit Bureau W 5,657 — 436 — (105) — 5,988
Hyundai Capital UK Ltd. 72,744 — 7,281 2,251 — — 82,276
Beijing Hyundai Auto
Finance Co., Ltd. 460,139 — 21,077 12,560 — — 493,776
Hyundai Capital Canada Inc. 36,088 — 1,661 2,643 — — 40,392
Hyundai Capital Bank
Europe GmbH — 98,179 (597) 31,808 — — 129,390
BANCO HYUNDAI
CAPITAL BRASIL S.A. 14,713 30,375 (1,145) 648 — 3 44,594
W 589,341 128,554 28,713 49,910 (105) 3 796,416
Share in
other
compre-
Opening Share in hensive Closing
balance Acquisition net income income (loss) Dividends balance
Korea Credit Bureau W 4,970 — 497 — (88) 5,379
Hyundai Capital UK Ltd. 59,799 — 6,439 1,075 — 67,313
Beijing Hyundai Auto
Finance Co., Ltd. 416,910 — 28,962 14,751 — 460,623
Hyundai Capital Canada Inc. 35,752 — 222 (257) — 35,717
BANCO HYUNDAI
CAPITAL BRASIL S.A. — 15,389 76 (876) — 14,589
W 517,431 15,389 36,196 14,693 (88) 583,621

(Unaudited)
June 30, 2019
21 (Continued)
9. Financial Receivables
Financial receivables measured at amortised costs as of June 30, 2019 and December 31, 2018 are
as follows:
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 10,102,580 52,981 (1,368) (499,804) 9,654,389
Installment financial assets
Automobile 13,097,615 66,436 — (118,036) 13,046,015
Durable goods 2 — — (1) 1
Mortgage 883 2 — (30) 855
13,098,500 66,438 — (118,067) 13,046,871
Lease receivables
Finance lease receivables 2,727,729 (315) — (44,397) 2,683,017
Cancelled lease receivables 48,255 — — (28,437) 19,818
2,775,984 (315) — (72,834) 2,702,835
W 25,977,064 119,104 (1,368) (690,705) 25,404,095
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 10,231,864 61,836 (1,560) (514,674) 9,777,466
Installment financial assets
Automobile 12,140,241 61,639 — (120,896) 12,080,984
Durable goods 2 — — (1) 1
Mortgage 928 2 — (28) 902
12,141,171 61,641 — (120,925) 12,081,887
Lease receivables
Finance lease receivables 2,606,401 (291) — (44,933) 2,561,177
Cancelled lease receivables 43,793 — — (26,886) 16,907
2,650,194 (291) — (71,819) 2,578,084
W 25,023,229 123,186 (1,560) (707,418) 24,437,437

(Unaudited)
June 30, 2019
22 (Continued)
10. Allowances for Loan Losses
The following tables present a reconciliation of changes in the allowance for loan losses including allowance for doubtful accounts for other assets for the
six-month periods ended June 30, 2019 and 2018:
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 June 30, 2019 were W222,235 million.
Loans receivable Installment financial assets Lease receivables
12-month Lifetime expected Purchased or 12-month 12-month Lifetime expected
expected credit losses originated expected Lifetime 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 155,259 84,546 215,899 58,970 72,222 18,401 30,302 16,904 8,765 46,150 27,909 735,327
Movements between the three stages
Transferred to 12-month expected credit losses 17,668 (15,313) (2,355) — 4,462 (4,124) (338) 5,122 (2,475) (2,647) — —
Transferred to lifelime expected credit losses (15,301) 18,398 (3,097) — (3,167) 3,866 (699) (1,257) 1,646 (389) — —
Transferred to credit-impaired (2,723) (7,970) 10,693 — (267) (1,123) 1,390 (138) (598) 736 — —
Disposals — — (118,740) (43,975) — — (17,427) — — (49) — (180,191)
Charge-offs — — (37,014) (23,127) — — (10,653) — — (113) (424) (71,331)
Recoveries — — 20,058 25,528 — — 4,816 — — 118 790 51,310
Unwinding of discounts — — (5,831) (26) — — (195) — — (95) — (6,147)
Provision for (release of) allowance (3,967) 5,791 124,990 41,511 (7,661) 3,244 25,018 (3,324) 1,166 3,386 815 190,969
Others (68) — — — — — — (74) — — — (142)
Closing balance W 150,868 85,452 204,603 58,881 65,589 20,264 32,214 17,233 8,504 47,097 29,090 719,795

(Unaudited)
June 30, 2019
23 (Continued)
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 June 30, 2018 were W157,209 million.
Loans receivable Installment financial assets Lease receivables
12-month Lifetime expected Purchased or 12-month 12-month Lifetime expected
expected credit losses originated expected Lifetime 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 162,728 70,889 164,201 55,384 64,552 18,657 26,784 22,187 8,624 44,275 26,586 664,867
Movements between the three stages
Transferred to 12-month expected credit losses 12,975 (12,283) (692) — 4,110 (4,030) (80) 5,224 (2,717) (2,507) — —
Transferred to lifelime expected credit losses (14,286) 16,921 (2,635) — (3,648) 4,340 (692) (1,591) 2,691 (1,100) — —
Transferred to credit-impaired (2,950) (9,011) 11,961 — (221) (1,407) 1,628 (231) (736) 967 — —
Disposals — — (48,675) (33,779) — — (10,195) — — (9) — (92,658)
Charge-offs — — (54,077) (36,296) — — (12,857) — — (112) (478) (103,820)
Recoveries — — 20,511 23,873 — — 4,134 — — 109 531 49,158
Unwinding of discounts — — (4,655) (29) — — (207) — — (74) — (4,965)
Provision for (release of) allowance 14,532 11,329 97,982 49,513 (4,835) 2,085 20,332 (5,827) 523 5,599 322 191,555
Others 5 — — — — — — — — — — 5
Closing balance W 173,004 77,845 183,921 58,666 59,958 19,645 28,847 19,762 8,385 47,148 26,961 704,142

(Unaudited)
June 30, 2019
24 (Continued)
11. Property and Equipment
The following tables present a reconciliation of changes in the carrying amounts of property and
equipment for the six-month periods ended June 30, 2019 and 2018:
(*1) Including the adjustment related to the application of K-IFRS 1116.
(in millions of
Korean won) Six-month period ended June 30, 2019
Opening Translation Closing
balance(*1) Addition Transfer Disposal Depreciation differences balance
Land W 97,459 — — — — — 97,459
Buildings 105,712 6 — — (1,565) — 104,153
Vehicles 3,465 350 — (53) (381) 1 3,382
Fixture and
furniture(*1) 28,521 2,175 3,271 (1) (8,254) 22 25,734
Others 2,429 — — — — — 2,429
Construction
in progress 2,228 1,249 (3,271) — — — 206
W 239,814 3,780 — (54) (10,200) 23 233,363
(in millions of
balance Addition Transfer Disposal Depreciation differences balance
Land W 97,883 — 1,303 — — — 99,186
Buildings 112,576 32 — — (1,622) — 110,986
Vehicles 3,936 131 — — (376) — 3,691
Fixture and
furniture 42,772 3,917 729 (91) (10,088) 43 37,282
Others 2,292 — 138 — — — 2,430
Construction
in progress 1,302 2,626 (2,170) — — — 1,758
W 260,761 6,706 — (91) (12,086) 43 255,333

(Unaudited)
June 30, 2019
25 (Continued)
12. Intangible Assets
The following tables present a reconciliation of changes in the carrying amounts of intangible assets
for the six-month periods ended June 30, 2019 and 2018:
(in millions of
balance Addition Transfer Amortization differences balance
Software
development costs W 105,895 46 5,207 (19,063) — 92,085
Memberships 28,673 — — — 5 28,678
Other intangible
assets 11,912 99 470 (2,782) (3) 9,696
Software under
development 7,173 8,139 (5,677) — — 9,635
W 153,653 8,284 — (21,845) 2 140,094
(in millions of
balance Addition Transfer Amortization differences balance
Software
development costs W 113,582 175 6,008 (17,092) — 102,673
Memberships 28,689 — — — (12) 28,677
Other intangible
assets 25,406 746 424 (4,348) 162 22,390
Software under
development 8,525 10,164 (6,432) — 26 12,283
W 176,202 11,085 — (21,440) 176 166,023

(Unaudited)
June 30, 2019
26 (Continued)
13. Borrowed Funds
(1) Borrowings
Borrowings as of June 30, 2019 and December 31, 2018 are as follows:
(2) Bonds issued
Bonds issued as of June 30, 2019 and December 31, 2018 are as follows:
(in millions of Annual Carrying amount
Korean won) interest June 30, December 31,
Lender rate (%) Maturity 2019 2018
Short-term borrowings:
Commercial paper Shinhan Bank 2.00 ~ August 14, 2019 through
and 6 others 2.41 April 9, 2020 W 510,000 1,220,000
General loans Woori Bank 2.70 ~ July 1, 2019 through
and 5 others 3.17 February 24, 2020 249,000 225,000
Overdraft Shinhan Bank 9.45 August 26, 2019 1 —
759,001 1,445,000
Current portion of
long-term borrowings:
Commercial paper KTB Investment
& Securities Co., Ltd.
and 4 others 2.17 October 25, 2019 190,000 190,000
General loans Kookmin Bank 2.25 ~ August 30, 2019 through
and 7 others 3.07 June 26, 2020 858,501 769,166
1,048,501 959,166
Long-term borrowings:
Commercial paper KTB Investment
& Securities Co., Ltd. 2.06 ~ July 23, 2020 through
and 7 others 2.24 March 7, 2022 710,000 510,000
General loans Kookmin Bank 2.29 ~ September 16, 2020 through
and 10 others 3.09 June 17, 2022 813,562 612,350
1,523,562 1,122,350
W 3,331,064 3,526,516
(in millions of Korean won) Annual Carrying amount
interest June 30, December 31,
rate (%) Maturity 2019 2018
Current portion of long-term bonds:
Bonds 1.32 ~ July 4, 2019 through W 5,472,599 4,931,000
Less: discount on bonds 3.78 August 18, 2022 (1,345) (2,079)
5,471,254 4,928,921
Long-term bonds:
Bonds 1.32 ~ July 2, 2020 through 17,844,382 15,865,349
Less: discount on bonds 3.97 May 23, 2029 (32,763) (32,506)
17,811,619 15,832,843
W 23,282,873 20,761,764

(Unaudited)
June 30, 2019
27 (Continued)
14. Employee benefit liabilities
(1) Defined contribution plans
The Group recognized W813 million and W279 million in the statement of comprehensive income
for retirement benefits based on the defined contribution plan for the six-month periods ended June 30,
2019 and 2018, respectively.
(2) Defined benefit plans
(a) Characteristics of the defined benefit plan
The Group operates a defined benefit plan. Under the plan, eligible employees are paid severance
benefits based on average salaries of three months prior to the termination and service periods. 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 tables present reconciliation of changes in the present value of defined benefit
obligations for the six-month periods ended June 30, 2019 and 2018:
(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 six-
month periods ended June 30, 2019 and 2018:
2019 2018
Opening balance W 101,978 101,362
Current service costs 7,170 7,471
Interest cost 1,282 1,531
Actuarial losses (gains):
Experience adjustments (2,635) (1,925)
Changes in economic assumptions 3,708 (336)
Transfer of severance benefits from (to) related parties, net 43 398
Benefits paid (7,139) (4,999)
Closing balance W 104,407 103,502
2019 2018
Expected return on plan assets 1,293 1,609
Actuarial losses - Changes in economic assumptions (677) (993)
Transfer of severance benefits from (to) related parties, net 95 383
Benefits paid (7,111) (5,045)

(Unaudited)
June 30, 2019
28 (Continued)
(3) Other long-term employee benefit plans
The Group grants long service payments to employees and directors with certain periods of services.
The following tables present a reconciliation of changes in other long-term benefit liability for the six-
month periods ended June 30, 2019 and 2018:
15. Provisions
Provisions include the allowance for unused loan commitments, residual value guarantees, asset
retirement obligations, litigations and others. Asimilar approach to the allowance for loan losses is used
for calculating a reserve for the estimated credit losses related to unused loan commitments.
The following tables present a reconciliation of changes in the provisions for the six-month periods
ended June 30, 2019 and 2018:
(*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.
2019 2018
Current service costs 266 268
Interest cost 76 87
Actuarial losses (gains) 289 185
Benefits paid (365) (641)
Unused Residual Asset
loan value retirement
commit- guaran- obliga-
ments (*1) tees (*3) tions (*4) Litigations Total
Opening balance W 1,011 46,752 4,137 3,100 55,000
Provision for (release of) allowance (74) 2,571 (3,120) 205 (418)
Provision used — — — — —
Provisions made for AROs and
capitalized to related assets — — 2,834 — 2,834
Unwinding of interests — — 79 — 79
Closing balance W 937 49,323 3,930 3,305 57,495
Unused Residual Asset
loan value retirement
commit- guaran- obliga-
ments (*1)(*2) tees (*3) tions (*4) Litigations Total
Opening balance W 1,277 45,967 2,652 — 49,896
Provision for (release of) allowance (64) (5,677) (178) — (5,919)
Provision used — — — — —
Provisions made for AROs and
capitalized to related assets — — 822 — 822
Unwinding of interests — — 36 — 36
Closing balance W 1,213 40,290 3,332 — 44,835

(Unaudited)
June 30, 2019
29 (Continued)
(*3) 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.
(*4) 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.
16. Derivative Financial Instruments and Hedge Accounting
(1) Trading derivatives
The Group had no balance of trading derivatives as of June 30, 2019 and December 31, 2018.
(2) Derivatives designated and qualifying as hedging instruments
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 and bonds issued. 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. The Group also utilizes currency forward contracts to manage exposures to fluctuation
in future cash flows related to its lease contracts denominated in foreign currencies. There was no
change in overall strategy of the Group for cash flow hedges.
The hedge ratio of nominal cash flows regarding cash flow hedge as of June 30, 2019 and December
31, 2018 are as follows:
Less than Less than Less than Less than Less than Over
one year two years three years four years five years five years Total
Carrying amount of
Hedged item W 2,809,520 2,426,245 1,514,057 2,555,569 1,386,169 892,040 11,583,600
Hedging instrument 2,809,520 2,426,245 1,514,057 2,555,569 1,386,169 892,040 11,583,600
Hedge ratio 100% 100% 100% 100% 100% 100% 100%
December 31, 2018
Less than Less than Less than Less than Less than Over
(in millions of Korean won) one year two years three years four years five years five years Total
Carrying amount of
Hedged item W 2,041,000 1,686,490 1,434,128 1,756,844 1,971,456 355,430 9,245,348
Hedging instrument 2,041,000 1,686,490 1,434,128 1,756,844 1,971,456 383,572 9,273,490
Hedge ratio 100% 100% 100% 100% 100% 100% 100%

(Unaudited)
June 30, 2019
30 (Continued)
Details of cash flow hedged items as of June 30, 2019 and December 31, 2018 are as follows:
Derivatives that are designated and qualifying as hedging instruments for cash flow hedges as of
June 30, 2019 and December 31, 2018 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 June 30, 2019
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 — 4,765,000 Borrowings and Bonds issued — (50,407)
Foreign exchange risk 28,104 6,790,496 Loans and Bonds issued (207,190) (34,055)
W 28,104 11,555,496 (207,190) (84,462)
(in millions of December 31, 2018
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 — 3,580,000 Borrowings and Bonds issued — (23,992)
Foreign exchange risk — 5,665,348 Bonds issued 150,765 (78,319)
W — 9,245,348 150,765 (102,311)
Notional Line item
principal Carrying amount in the financial Changes in
amount (*1) Assets Liabilities statements fair value
Interest rate swaps W 4,765,000 248 66,603 Derivative (34,849)
Currency swaps 6,818,600 131,374 75,543 assets (liabilities) 272,149
W 11,583,600 131,622 142,146 237,300
Notional Line item
principal Carrying amount in the financial Changes in
amount (*1) Assets Liabilities statements fair value
Interest rate swaps W 3,580,000 1,586 33,237 Derivative (36,576)
Currency swaps 5,693,490 24,956 251,770 assets (liabilities) 83,934
W 9,273,490 26,542 285,007 47,358

(Unaudited)
June 30, 2019
31 (Continued)
Changes in effective portion of cash flow hedges for the six-month periods ended June 30, 2019
and 2018 are as follows:
The Group is expected to be exposed to the variability in future cash flows arising from hedged
items designated as cash flow hedges, until May 17, 2029. There was no cash flow hedges discontinued
for the six-month periods ended June 30, 2019 and 2018.
There was no ineffective portion recognized in profit or loss related to cash flow hedge for the six-
month periods ended June 30, 2019 and 2018.
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 (134,975) 237,300 (213,752) (111,427)
Income tax effects 32,664 26,965
Effective portion of cash flow hedges,
net of income taxes W (102,311) (84,462)
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 844 90,906 (226,668) (134,918)
Income tax effects (204) 32,650
Effective portion of cash flow hedges,
net of income taxes W 640 (102,268)

(Unaudited)
June 30, 2019
32 (Continued)
17. Equity
(1) Regulatory reserve for loan losses
In accordance with the Article 11 of Regulation on Supervision of Specialized Credit Finance
Business mandated by the Financial Services Commission, the Group appropriates regulatory reserves
for loan losses which equal to the difference between allowance for loan losses estimated under K-IFRS
and allowance estimated based on regulatory risk grades of loans and receivables and minimum required
reserve ratio to each grade.
Details of regulatory reserve for loan losses as of June 30, 2019 and December 31, 2018 are as
follows:
(*1) Regulatory reserve for loan losses as of June 30, 2019 and December 31, 2018 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 release of regulatory reserve for loan losses for the six-month periods ended
June 30, 2019 and 2018 are as follows:
(*1) Provision for (release of) regulatory reserve for loan losses represents additional (excess)
reserves expected to be made (released) for the six-month periods ended June 30, 2019 and 2018.
(*2) Profit for the period adjusted with provision for (release of) regulatory reserve for losses 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.
2019 2018
Appropriated regulatory reserve for loan losses W 198,594 211,999
Effects of the changes in accounting policies — (66,899)
Expected provision for regulatory reserve for loan losses 27,862 53,494
Regulatory reserve for loan losses (*1) W 226,456 198,594
(in millions of Korean won)
2019 2018
Profit for the period W 199,666 186,437
Less : provision for regulatory reserve for loan losses (*1) 27,862 9,255
Profit for the period adjusted with provision for
regulatory reserve for loan losses (*2) W 171,804 177,182
Basic and diluted earnings per share
adjusted with provision for
regulatory reserve for loan losses (in won) W 1,730 1,784
Six-month periods ended June 30,

(Unaudited)
June 30, 2019
33 (Continued)
(2) Retained earnings
Details of retained earnings as of June 30, 2019 and December 31, 2018 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 to reduce accumulated deficit, if any.
2019 2018
Legal reserves:
Earned surplus reserve (*1) W 158,162 149,433
Discretionary reserves:
Regulatory reserve for loan losses 198,594 211,999
Reserve for electronic financial transactions 100 100
Reserve for business rationalization 74 74
198,768 212,173
Retained earnings before appropriation 3,120,753 3,003,259
W 3,477,683 3,364,865

(Unaudited)
June 30, 2019
34 (Continued)
18. Net Interest Income
Net interest income for the six-month periods ended June 30, 2019 and 2018 are as follows:
(*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.
19. Net Fee Income
Net fee income for the six-month periods ended June 30, 2019 and 2018 are as follows:
(in millions of Korean won) Three-month periods Six-month periods
2019 2018 2019 2018
Interest income:
Interest income recognized by using the effective interest method
Cash and due from other financial institutions W 8,639 6,675 13,452 13,514
Securities measured at FVOCI 133 95 203 151
Loans receivable 224,105 233,299 448,516 476,892
Installment financial assets 144,370 121,760 283,286 243,621
Lease receivables (*1) 35,969 39,171 72,773 81,634
Other (*2) 700 137 931 320
413,916 401,137 819,161 816,132
Interest expense:
Borrowings 20,911 16,684 43,251 31,867
Bonds issued 132,947 120,501 257,419 238,437
Other (*2) 2,283 2,495 4,649 5,022
156,141 139,680 305,319 275,326
Net interest income W 257,775 261,457 513,842 540,806
Three-month periods ended June 30, Six-month periods ended June 30,
(in millions of Korean won) 2019 2018 2019 2018
Fee income:
Loans receivable W 5,178 6,449 10,392 13,110
Installment financial assets 4,665 4,411 9,212 8,690
Lease receivables 35,072 39,916 70,457 74,540
44,915 50,776 90,061 96,340
Fee expenses:
Lease expenses 35,069 20,085 65,359 44,776
Net fee income W 9,846 30,691 24,702 51,564

(Unaudited)
June 30, 2019
35 (Continued)
20. Other Operating Income and Expenses
Other operating income and expenses for the six-month periods ended June 30, 2019 and 2018 are
as follows:
21. General and Administrative Expenses
General and administrative expenses for the six-month periods ended June 30, 2019 and 2018 are
as follows:
Other operating income:
Gain on valuation of derivatives W 106,762 215,941 208,128 230,623
Gain on derivatives transactions 5,343 1,640 6,415 5,456
Gain on short-term financial investments 1,500 291 2,346 887
Gain on purchased loan 10,070 9,749 21,225 19,866
Shared services income 4,174 4,932 12,227 12,462
Other fee and commission 18,099 17,259 37,465 33,441
Other 5,109 2,500 9,564 5,642
W 151,057 252,312 297,370 308,377
Other operating expenses:
Loss on valuation of derivatives W 791 (25,031) 791 8,033
Loss on derivatives transactions — 929 — 1,378
Shared services expense 5,331 6,455 15,506 16,243
Other 20,714 5,172 38,851 19,847
W 26,836 (12,475) 55,148 45,501
Salaries W 49,086 54,575 99,747 107,021
Severance benefits 4,077 7,208 7,882 11,236
Employee benefits 7,201 8,807 18,207 19,394
Advertising 13,605 16,450 29,186 30,341
Sales promotion 7,016 15,198 20,661 32,508
Rents 4,917 9,967 10,777 20,299
Utilities 2,705 2,525 5,272 5,338
Communication 3,728 3,709 7,295 6,976
Travel and transportation 1,601 1,522 2,934 2,644
Professional and other service fees 13,938 19,790 28,509 38,612
Outsourcing service charges 7,868 8,852 16,254 17,529
Commissions and charges 4,063 3,129 11,624 10,933
Depreciation 9,254 6,020 19,638 12,086
Amortization 10,891 10,770 21,845 21,440
Other 9,907 9,937 24,078 22,705
W 149,857 178,459 323,909 359,062

(Unaudited)
June 30, 2019
36 (Continued)
22. Income Taxes
(1) Income tax expense
Income tax expense for the six-month periods ended June 30, 2019 and 2018 are as follows:
(2) Income tax expense recognized directly to equity
Income tax expense recognized directly to equity for the six-month periods ended June 30, 2019
and 2018 are as follows:
(3) Effective tax rate reconciliation
Income tax expense attributable to net income was W62,240 million and W61,959 million for the
six-month periods ended June 30, 2019 and 2018, respectively, and differed from the amounts computed
by applying the statutory tax rate to profit before income taxes as a result of the following:
(in millions of Korean won) 2019 2018
Current income tax expense W 51,869 37,176
Change in deferred income tax due to temporary differences 30,304 (3,236)
Income tax expense recognized directly to equity (19,933) 28,019
Income tax expense W 62,240 61,959
(in millions of Korean won) Six-month periods ended June 30,
2019 2018
Opening Closing Opening Closing
balance balance Changes balance(*1) balance Changes
Unrealized gains and losses on
equity securities measured at FVOCI W (4,648) (7,047) (2,399) (3,517) (4,469) (952)
Unrealized gains and losses on valuation
of debt securities measured at FVOCI (43) (224) (181) 3 (17) (20)
Share in other comprehensive income
of associates under the equity method 11,152 (926) (12,078) 9,488 5,932 (3,556)
Effective portion of cash flow hedges 32,664 26,965 (5,699) (204) 32,650 32,854
Remeasurements of defined benefit plans 5,659 6,083 424 5,260 4,953 (307)
W 44,784 24,851 (19,933) 11,030 39,049 28,019
Profit before income taxes (A) W 261,906 248,396
Income taxes at statutory tax rates 62,919 59,650
Adjustments:
Non-deductible expense 62 85
Changes in estimates for tax provisions of the prior year (631) (13,176)
Others including tax credits and foreign subsidiaries (110) 15,400
Income tax expense (B) W 62,240 61,959
Effective tax rate (B/A) 23.76% 24.94%

(Unaudited)
June 30, 2019
37 (Continued)
23. Earnings Per Share
(1) Basic earnings per share
Basic earnings per share attributable to common stock of equity holders for the six-month periods
ended June 30, 2019 and 2018 are as follows:
(2) Diluted earnings per share
There are no potential common stocks as of June 30, 2019 and 2018. Therefore, the diluted earnings
per share is equal to basic earnings per share for the six-month periods ended June 30, 2019 and 2018.
2019 2018 2019 2018
Profit for the period attributable
to owners of the Company (in won) (A) W 100,512,363,658 107,383,443,035 200,109,156,440 191,341,669,515
Weighted average of number of
outstanding common stocks (B) 99,307,435 99,307,435 99,307,435 99,307,435
Basic earnings per share (in won) (A/B) W 1,012 1,081 2,015 1,927

(Unaudited)
June 30, 2019
38 (Continued)
24. Accumulated Other Comprehensive Income
Changes in accumulated other comprehensive income for the six-month periods ended June 30,
2019 and 2018 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 14,560 — 9,910 (2,399) 22,071
gains and losses on valuation of
debt securities measured at FVOCI 137 (64) 811 (181) 703
Share in other comprehensive
income (loss) of associates
under the equity method (34,931) — 49,910 (12,078) 2,901
Net change in effective portion
of cash flow hedges (102,311) (213,752) 237,300 (5,699) (84,462)
translation adjustments (6,297) — 1,670 — (4,627)
Remeasurements of
defined benefit plans (17,727) — (1,750) 424 (19,053)
W (146,569) (213,816) 297,851 (19,933) (82,467)
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 11,016 — 3,935 (952) 13,999
gains and losses on valuation of
debt securities measured at FVOCI 3 (31) 123 (22) 73
Share in other comprehensive
income (loss) of associates
under the equity method (29,718) — 14,693 (3,556) (18,581)
Net change in effective portion
of cash flow hedges 640 (226,668) 90,906 32,854 (102,268)
translation adjustments (3,773) — 587 — (3,186)
Remeasurements of
defined benefit plans (16,477) — 1,268 (307) (15,516)
W (38,309) (226,699) 111,512 28,017 (125,479)

(Unaudited)
June 30, 2019
39 (Continued)
25. Supplemental Cash Flow Information
(1) Cash and cash equivalents
Details of cash and cash equivalents as of June 30, 2019 and December 31, 2018 are as follows:
(*1) Ordinary deposits include restricted cash at reserve accounts of Autopia ABS trusts due from
other banks in the amount of W80,573 million and W136,343 million as of June 30, 2019 and December
31, 2018, 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 W8,200 million and W9,100 million as of
June 30, 2019 and December 31, 2018, respectively, for the Autopia asset securitization program.
2019 2018
Ordinary deposits (*1) W 114,700 199,857
Checking deposits 2,409 1,488
Other cash equivalents (*2) 869,112 671,696
W 986,221 873,041

(Unaudited)
June 30, 2019
40 (Continued)
(2) Cash generated from operations
Cash generated from operations for the six-month periods ended June 30, 2019 and 2018 are as
follows:
Profit for the period W 199,666 186,437
Adjustments:
Gain on sale of securities measured at FVTPL (2) (428)
Loss on sale of securities measured at FVTPL 20 —
Gain on valuation of securities measured at FVTPL (14) —
Loss on valuation of securities measured at FVTPL — 5
Gain on sale of debt securities measured at FVOCI (282) (251)
Impairment loss on debt securities measured at FVOCI 110 —
Reversal of impairment loss on debt securities measured at FVOCI — (7)
Gain on valuation of short-term financial investments (2,346) (887)
Income on loans 30,394 37,290
Income on installment financial assets 32,993 39,795
Income on leases 24,039 15,174
Gain on foreign currency translation (938) (8,664)
Dividend income (608) (5,271)
Gain on valuation of derivatives (208,128) (230,623)
Net interest expenses 290,734 261,340
Lease expenses 202,299 199,064
Provision for loan losses 190,969 191,555
Loss on foreign currency translation 208,128 230,623
Severance benefits 7,972 7,672
Long-term employee benefits 631 540
Depreciation 19,638 12,086
Amortization 21,845 21,440
Loss on valuation of derivatives 791 8,033
Release of allowance (417) (5,919)
Share in net income of associates under the equity method (30,455) (36,196)
Gain on sale of property and equipment (81) (28)
Loss on sale of property and equipment 1 89
Share in net loss of associates under the equity method 1,742 —
Loss on cancellation of lease 1,574 —
Gain on sale of assets held for sale (20,751) —
Income tax expense 62,240 61,959
832,098 798,391

(Unaudited)
June 30, 2019
41 (Continued)
Changes in operating assets and liabilities:
Decrease in due from banks 26,559 60,306
Decrease (increase) in short-term financial investments (876,539) 557,615
Decrease in securities measured at FVTPL 8,581 4,516
Increase in securities measured at FVOCI (16,096) (643)
Increase in loans receivable (74,850) (691,671)
Increase in installment financial assets (1,018,576) (870,072)
Increase in finance lease receivables (360,977) (349,234)
Decrease in cancelled lease receivables 1,458 3,389
Increase in operating lease assets (332,153) (224,128)
Decrease in cancelled lease assets 195,762 237,651
Increase in non-trade receivables (8,876) (26,821)
Increase in accrued revenues (11,862) (8,309)
Decrease (increase) in advance payments 8,907 (41,472)
Increase in prepaid expenses (18,564) (25,208)
Increase (decrease) in non-trade payables (83,940) 54,802
Increase in accrued expenses 1,666 6,619
Decrease in unearned revenue (1,130) (582)
Increase in withholdings 49,231 41,056
Decrease in deposits received (38,755) (46,151)
Severance payments (28) 46
Increase in plan assets (1) —
Transfer of severance benefits from (to) related parties, net (52) 15
Decrease in long-term employee benefits (365) (641)
(2,550,600) (1,318,917)
W (1,518,836) (334,089)

(Unaudited)
June 30, 2019
42 (Continued)
(3) Changes in liabilities arising from financing activities
Changes in liabilities and assets that hedge liabilities arising from financing activities for the six-
month periods ended June 30, 2019 and 2018 are as follows:
(in millions of Six-month periods ended June 30, 2019
Korean won) Non-cash changes
Changes in
foreign
Opening Net exchange Changes in Other Closing
balance cash flows rates fair value changes balance
Borrowings W 3,526,516 (195,546) — — 94 3,331,064
Bonds issued 20,761,764 2,305,822 208,128 — 7,159 23,282,873
Net derivative
liabilities (assets) held to
hedge borrowed funds 258,465 (17,055) (207,337) (23,549) — 10,524
Lease liabilities 37,537 (7,385) — — 8,121 38,273
W 24,584,282 2,085,836 791 (23,549) 15,374 26,662,734
(in millions of Six-month periods ended June 30, 2018
Korean won) Non-cash changes
Changes in
foreign
Opening Net exchange Changes in Other Closing
balance cash flows rates fair value changes balance
Borrowings W 2,872,860 601,611 2,399 — 57 3,476,927
Bonds issued 19,142,152 512,872 222,590 — 7,271 19,884,885
Net derivative
liabilities (assets) held to
hedge borrowed funds 339,264 (19,171) (222,590) 135,762 — 233,265
W 22,354,276 1,095,312 2,399 135,762 7,328 23,595,077

(Unaudited)
June 30, 2019
43 (Continued)
26. Commitments and Contingencies
(1) Line of credit commitments
As of June 30, 2019, the Group has line-of-credit commitments from Shinhan Bank and 2 other
banks with up to W49,100 million in the aggregate. The Group also has revolving credit facility
agreements up to USD 370 million, JPY80,000 million, EUR 325 million and W2,265,000 million with
Kookmin Bank and 32 other financial institutions.
The Group offers line-of-credit commitments to a number of customers and an associate company,
Hyundai Capital Bank Europe GmbH. The unused amount of line-of-credit is W975,400 million and
EUR 75 million respectively as of June 30, 2019.
(2) Guarantees
Details of guarantees provided to the Group as of June 30, 2019 and December 31, 2018 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 June 30, 2019 and December 31, 2018 are as follows:
Guarantor Details 2019 2018
Seoul Guarantee Guarantee for debt collection
Insurance Co., Ltd. deposit and others W 43,211 37,627
2019 2018
Loans and leases insured W 944,013 942,791
Residual value guaranteed by the insurance policies 237,694 229,321

(Unaudited)
June 30, 2019
44 (Continued)
(3) Pending litigations
Pending litigations include 26 cases with aggregated claim amounts of W7,165 million where the
Group is the defendant, 31 cases with aggregated claim amount of W7,890 million and INR 5 million
where the Group is the plaintiff, and litigations against a number of debtors to collect receivables as of
June 30, 2019. The Group recognized the amount of W3,306 million as provisions related to a court
case which was ruled against the Group in the first trial. Besides the current provisions established by
the Group, additional losses may be incurred from these legal actions, but the amount is not expected
to have a material adverse effect on the Group’s consolidated financial position or results of operations.
(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 June 30, 2019, the Group has agreements including trigger clauses regarding borrowed funds
and related credit commitments, W1,150,000 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-backed securities
As of June 30, 2019, the Company provides guarantees to the counterparties of currency swaps at
Autopia 57th
, 59th
and 60th
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.

(Unaudited)
June 30, 2019
45 (Continued)
27. Related Party Transactions
(1) Relationships between parents and subsidiaries
The Company’s parent company is Hyundai Motor Company. Related parties include associates,
joint ventures, post-employment benefit plans, 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 June 30,
2019 is as follows:
Type Company
The Parent Hyundai Motor Company
Associates Korea Credit Bureau, Hyundai Capital Canada Inc., and Hyundai Capital Bank Europe GmbH
Others Kia Motors Corp., Hyundai Card Co., Ltd., Hyundai Commercial Inc.,
Hyundai Autoever Corp., Hyundai Glovis Co., Ltd.,
Hyundai Steel Company, Hyundai Construction & Engineering Co., Ltd.,
Hyundai Engineering Co., Ltd., Hyundai Mobis Co., Ltd.,
Hyundai Capital America and 50 others

(Unaudited)
June 30, 2019
46 (Continued)
(3) Transactions with related parties
Transactions with related parties occurred in the normal course of business, and the terms and
conditions include normal settlement terms.
Significant transactions occurred with related companies during the six-month periods ended June
30, 2019 and 2018 are as follows:
(*1) Including provision for (release of) loan losses.
(*1) Including provision for (release of) loan losses.
Purchase of
Operating Operating Non-operating Disposal of Purchase of loans and
revenue expenses(*1) income leased assets leased assets receivables Others
The Parent
Hyundai Motor Company W 55,241 306 — — 519,482 — —
Associates
Korea Credit Bureau — 1,169 — — — — —
Hyundai Capital Canada Inc. 13 (3) — — — — —
Hyundai Capital Bank Europe GmbH 398 74 — — — — —
411 1,240 — — — — —
Other related parties
Kia Motors Corp. 40,699 117 — — 317,710 — —
Hyundai Card Co., Ltd. 32,438 15,273 1,002 — — 62,631 —
Hyundai Commercial Inc. 1,070 1,206 150 — — 110,539 —
Hyundai Glovis Co., Ltd. 241 1,165 — 58,810 — — —
Hyundai Autoever Corp. 132 16,854 — — — — 4,527
Hyundai Capital America 15,757 (144) — — — — —
Hyundai Engineering Co., Ltd. 507 3,891 10 — — — —
Hyundai Construction & Engineering Co., Ltd. 1,000 3 — — — — —
Hyundai Mobis Co., Ltd. 558 60 — — — — —
Hyundai Steel Company 1,489 (23) — — — — —
Others 11,791 804 — — — — —
105,682 39,206 1,162 58,810 317,710 173,170 4,527
W 161,334 40,752 1,162 58,810 837,192 173,170 4,527
Purchase of
Operating Operating Non-operating Disposal of Purchase of loans and
revenue expenses(*1) income leased assets leased assets receivables Others
The Parent
Hyundai Motor Company W 43,725 569 — — 381,985 — —
Associates
Korea Credit Bureau — 876 — — — — —
Beijing Hyundai Auto Finance Co., Ltd. 5 — — — — — —
5 876 — — — — —
Kia Motors Corp. 33,601 140 — — 207,324 — —
Hyundai Card Co., Ltd. 27,669 15,223 996 — — 79,228 —
Hyundai Commercial Inc. 855 1,596 407 — — 50,186 —
Hyundai Glovis Co., Ltd. 198 1,868 — 52,366 — — —
Hyundai Autoever Corp. 132 16,443 — — — — 6,959
Hyundai Capital America 14,672 (118) — — — — —
Fubon Hyundai Life Insurance Co., Ltd.(*2) 50 4,359 26 — — 7,919 —
Hyundai Engineering Co., Ltd. 493 4,456 4 — — — —
Hyundai Construction & Engineering Co., Ltd. 1,018 24 — — — — —
Hyundai Mobis Co., Ltd. 483 93 — — — — —
Hyundai Steel Company 1,347 5 — — — — —
Others 17,026 1,083 — — — — —
97,544 45,172 1,433 52,366 207,324 137,333 6,959
W 141,274 46,617 1,433 52,366 589,309 137,333 6,959

(Unaudited)
June 30, 2019
47 (Continued)
(*2) The company changed its name from Hyundai Life Insurance Co., Ltd. to Fubon Hyundai Life
Insurance Co., Ltd. in the previous year.
Receivables and payables with related parties as of June 30, 2019 and December 31, 2018 are as
follows:
(*1) The lease payments that the Group made related to the lease liabilities included in other
liabilities were W372 million for the six-month period ended June 30, 2019.
Lease
receivables Other Other
and others Allowance assets Allowance liabilities(*1)
The Parent
Hyundai Motor Company W 92 (1) 9,615 (95) 21,771
Associates
Hyundai Capital Bank Europe GmbH 28,932 (74) 661 — —
Hyundai Card Co., Ltd. 461 — 2,879 (24) 61,515
Hyundai Construction & Engineering Co., Ltd. 4,575 (25) — — 9
Hyundai Glovis Co., Ltd. 1,052 (5) 6,028 (30) 6
Kia Motors Corp. — — 6,995 (69) 61,072
Hyundai Capital America — — 15,751 (158) —
Hyundai Steel Company 6,796 — 188 — —
Hyundai Commercial Inc. 335 (2) 84 — 106
Hyundai Autoever Corp. 576 (1) 3 — 26
Hyundai Mobis Co., Ltd. 3,029 (6) 32 — —
Hyundai Engineering Co., Ltd. 2,679 (8) 1 — —
Others 5,159 (98) 1,138 — 1
24,662 (145) 33,099 (281) 122,735
W 53,686 (220) 43,375 (376) 144,506
June 30, 2019
Lease
receivables Other Other
and others Allowance assets Allowance liabilities
The Parent
Hyundai Motor Company W 102 — 8,468 (84) 24,902
Associates
BANCO HYUNDAI CAPITAL BRASIL S.A. — — 3 — —
Hyundai Capital Canada Inc. — — 332 (3) —
— — 335 (3) —
Hyundai Card Co., Ltd. 417 (2) 3,034 (24) 53,405
Hyundai Construction & Engineering Co., Ltd. 4,870 (22) — — 9
Hyundai Glovis Co., Ltd. 997 (4) 6,201 (31) 6
Kia Motors Corp. — — 6,556 (65) 70,697
Hyundai Capital America — — 30,136 (301) —
Hyundai Steel Company 6,692 (13) 212 — —
Hyundai Commercial Inc. 488 (2) 2 — 399
Hyundai Autoever Corp. 610 (1) 2 — 26
Hyundai Mobis Co., Ltd. 2,530 (5) 17 — 84
Hyundai Engineering Co., Ltd. 2,279 (7) 1 — —
Others 5,476 (18) 2,613 — 29,481
24,359 (74) 48,774 (421) 154,107
W 24,461 (74) 57,577 (508) 179,009
December 31, 2018

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