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KOREA ELECTRIC POWER | Donnelley Financial | VDI-W7-PFL-0513 | ADG ekamg0dc09-Sep-2019 10:43 EST | 790276 TX 1 | 3* | |
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FORM 6-K | None | HKG | HTM ESS | 0C | ||
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the Month of September 2019
KOREA ELECTRIC POWER CORPORATION
(Translation of registrant's name into English)
55 Jeollyeok-ro,Naju-si,Jeollanam-do, 58322, Korea
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F☒ | Form 40-F☐ |
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ☐ | No ☒ | ||
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- | . |
This Report of Foreign Private Issuer on Form 6-K is deemed filed for all purposes under the Securities Act of 1933, as amended, and the Securities
Exchange Act of 1934, as amended.
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KOREA ELECTRIC POWER | Donnelley Financial | VDI-W7-PFL-0513 | ADG ekamg0dc09-Sep-2019 04:19 EST | 790276 TX 2 | 2* | |
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FORM 6-K | None | HKG | HTM ESS | 0C | ||
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QUARTERLY BUSINESS REPORT
(For the period from January 1, 2019 to June 30, 2019)
THIS IS A SUMMARY IN ENGLISH OF THE QUARTERLY BUSINESS REPORT ORIGINALLY PREPARED IN KOREAN AND IS IN SUCH FORM AS REQUIRED BY THE FINANCIAL SERVICES COMMISSION OF KOREA.
IN THE TRANSLATION PROCESS, SOME PARTS OF THE REPORT WERE REFORMATTED, REARRANGED OR SUMMARIZED FOR THE CONVENIENCE OF READERS. NON-MATERIAL OR PREVIOUSLY DISCLOSED INFORMATION IS OMITTED OR ABRIDGED.
UNLESS EXPRESSLY STATED OTHERWISE, ALL INFORMATION CONTAINED HEREIN IS PRESENTED ON A CONSOLIDATED BASIS IN ACCORDANCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS ADOPTED FOR USE IN KOREA, OR K-IFRS, WHICH DIFFER IN CERTAIN RESPECTS FROM GENERALLY ACCEPTED ACCOUNTING PRINCIPLES IN CERTAIN OTHER COUNTRIES, INCLUDING THE UNITED STATES. WE HAVE MADE NO ATTEMPT TO IDENTIFY OR QUANTIFY THE IMPACT OF THESE DIFFERENCES.
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KOREA ELECTRIC POWER | Donnelley Financial | VDI-W7-PFL-1057 | ADG munip0cb09-Sep-2019 13:25 EST | 790276 TX 3 | 7* | |
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FORM 6-K | None | HKG | HTM ESS | 0C | ||
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I. Company Overview
- Name of the company: Korea Electric Power Corporation (KEPCO)
- Information of the company
(Address) 55 Jeollyeok-ro,Naju-si,Jeollanam-do, 58322, Korea (Phone number) 82-61-345-4213
(Website) http://www.kepco.co.kr
3. Major businesses
KEPCO, as the parent company, is engaged in the following activities:
- development of electric power resources;
- generation, transmission, transformation and distribution of electricity and other related activities;
- research and development of technology related to the businesses mentioned above;
- overseas business related to the businesses mentioned above;
- investment or contributions related to the businesses mentioned above;
- development and operation of certain real estate holdings; and
- other businesses entrusted by the government.
Businesses operated by KEPCO's major subsidiaries are as follows: nuclear power generation by Korea Hydro & Nuclear Power (KHNP), thermal power generation by Korea South-East Power (KOSEP), Korea Midland Power (KOMIPO), Korea Western Power (KOWEPO), Korea Southern Power (KOSPO) and Korea East-West Power (EWP), other businesses including engineering service by KEPCO Engineering & Construction (KEPCO E&C), maintenance and repair of power plants by KEPCO Plant Service & Engineering (KEPCO KPS), nuclear fuel processing by KEPCO Nuclear Fuel (KEPCO NF), IT service by KEPCO KDN, and other overseas businesses and related investments.
4. Consolidated subsidiaries
(As of June 30, 2019)
Domestic | Overseas | Total | ||
39 | 75 | 114 |
5. Major changes in management
On March 4, 2019, Mr. Kim, Sung-Arm was appointed as a standing director in replacement of Mr. Moon, Bong-Soo, whose term of office expired.
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KOREA ELECTRIC POWER | Donnelley Financial | VDI-W7-PFL-1057 | ADG munip0cb09-Sep-2019 15:11 EST | 790276 TX 4 | 8* | |
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FORM 6-K | None | HKG | HTM ESS | 0C | ||
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6. Changes in major shareholders
On December 31, 2014, Korea Development Bank merged with Korea Finance Corporation, and became the largest shareholder of KEPCO.
7. Information regarding KEPCO shares
- Issued share capital: Won 3,210 billion (Authorized capital: Won 6 trillion)
-
Total number of issued shares: 641,964,077
(Total number of shares authorized to for issuance: 1,200,000,000) - Dividends: KEPCO did not pay any dividends for fiscal year of 2018. Dividend payments for fiscal year 2017 and 2016 were Won 790 and Won 1,980 per share respectively.
II. Business Overview
1. Consolidated financial results by segment for a six-month period ended June 30, 2019 and 2018
(In billions of Won) | |||||||||
January to June 2018 | January to June 2019 | ||||||||
Operating | Operating | ||||||||
Sales | profit | Sales | profit | ||||||
Electricity sales | 28,821 | -2,140 | 28,243 | -2,152 | |||||
Nuclear generation | 3,924 | 223 | 4,593 | 801 | |||||
Thermal generation | 13,008 | 1,071 | 11,796 | 301 | |||||
Others(*) | 1,613 | 161 | 1,631 | 181 | |||||
Subtotal | 47,366 | -685 | 46,263 | -869 | |||||
Adjustment for related-party transactions | -18,323 | -130 | -17,944 | -60 | |||||
Total | 29,043 | -815 | 28,319 | -929 | |||||
- The figures may not add up to the relevant total numbers due to rounding.
- Others relate to subsidiaries including KEPCO E&C, KEPCO KPS, KEPCO NF and KEPCO KDN, among others.
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KOREA ELECTRIC POWER | Donnelley Financial | VDI-W7-PFL-1057 | ADG munip0cb | 09-Sep-2019 15:10 EST | 790276 TX 5 | 9* | ||||||||||
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2. Changes in unit prices of major products | ||||||||||||||||
(In Won per kWh) | ||||||||||||||||
January to June | January to June | |||||||||||||||
Business sector | Company | 2018 | 2019 | |||||||||||||
Electricity sold | Residential | 107.09 | 105.90 | |||||||||||||
Commercial | 125.83 | 126.73 | ||||||||||||||
Educational | 99.71 | 99.61 | ||||||||||||||
Industrial | KEPCO | 104.24 | 103.96 | |||||||||||||
Agricultural | 47.95 | 48.05 | ||||||||||||||
Street lighting | 114.60 | 114.57 | ||||||||||||||
Overnight usage | 67.88 | 67.42 | ||||||||||||||
Electricity from nuclear generation | Nuclear Generation | KHNP | 64.07 | 57.76 | ||||||||||||
Electricity from thermal generation | KOSEP | 92.34 | 100.84 | |||||||||||||
KOMIPO | 97.02 | 104.6 | ||||||||||||||
Thermal generation | KOWEPO | 97.40 | 100.84 | |||||||||||||
KOSPO | 99.10 | 106.87 | ||||||||||||||
EWP | 98.01 | 99.53 |
3. Power purchase from generation companies for a six-month period ended June 30, 2019
Volume | Expense | |||
Company | (GWh) | (In billions of Won) | ||
KHNP | 78,202 | 4,507 | ||
KOSEP | 27,905 | 2,561 | ||
KOMIPO | 18,133 | 1,889 | ||
KOWEPO | 18,953 | 1,906 | ||
KOSPO | 23,923 | 2,557 | ||
EWP | 24,572 | 2,442 | ||
Others | 75,490 | 8,786 | ||
Total | 267,178 | 24,648 |
- Based on preliminary adjusted estimates and excluding expense related to the renewable portfolio standard provisions and carbon emissions.
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KEPCO - Korea Electric Power Corporation published this content on 16 September 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 September 2019 08:21:07 UTC