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092_
Kia Motors Annual Report 2007
(12) Pledged Assets and Guarantees
(a) The following assets were pledged as collateral for the Company’s long-term debt and others as of December 31, 2007:
(13) Other Current Liabilities
Other current liabilities as of December 31, 2007 and 2006 are as follows:
(14) Short - Term Borrowings
Short-term borrowings as of December 31, 2007 and 2006 amounted to ￦979,090 million and ￦659,979 million, respectively, and consist of bank loans and
commercial paper with annual interest rate ranging from 1.12% to 7.08%.
December 31, 2007 and 2006
Notes to Non-Consolidated Financial Statements
Korean Defense Industry Association
The Korea Development Bank and others
Woori Bank
Performance guaranty
Long-term debt
Vocational training and
development fund
-
41
85,763
-
41
85,763
320
774,420
1,250
775,990
Borrowing amountType of BorrowingsLenderAssets Collateralized amount
Available- for-sale securities
Land and buildings
Land and buildings
In millions of Won
In thousands of USD
￦
USD
￦
￦
USD
￦
￦
35,335
53,691
49,541
26
10,412
149,005
￦
￦
2007 2006
23,598
66,357
181,512
26
-
271,493
Advances from customers
Unearned income (*)(note 8)
Accrued expenses
Accrued dividends
Derivative instruments (note 22)
In millions of Won
(*) The Company entered into a technical support contract with Kia Motors Slovakia s.r.o. for which it received lump sum payment of ￦66,357million in December 2006. Revenue will be recognized over the five year
contract period ending 2011.