据报道美国提出建设核电站的提议后，韩国电力公司股价飙升6.4%。 来源：滚动播报 ...

每经AI快讯，1月20日，韩国电力公司股价涨幅扩大至19%。 每经AI快讯，1月20日，韩国电力公司股价涨幅扩大至19%。 ...

Core Insights - The article emphasizes the importance of looking beyond U.S. large caps for investment opportunities, particularly in undervalued international stocks [1][3][9] - The Benzinga Value Ranking is introduced as a systematic, numbers-driven tool to identify the cheapest stocks globally based on multiple valuation metrics [2][5] Investment Strategy - Investors are encouraged to focus on the top decile of the Benzinga Value Ranking, specifically targeting non-U.S. stocks to access the cheapest part of the global market [7][9] - The current market environment is characterized by extreme valuation dispersion outside the U.S., with many profitable companies trading at low earnings multiples [4][6] Company Highlights - **POSCO Holdings (NYSE:PKX)**: A leading steel producer in South Korea, trading at discounted multiples despite controlling high-quality assets [11] - **Sasol Ltd. (NYSE:SSL)**: An integrated energy and chemicals company in South Africa, generating substantial cash flow but heavily discounted due to past operational issues [12] - **Korea Electric Power Corp. (NYSE:KEP)**: The backbone of South Korea's power system, facing extreme low valuation multiples due to government pricing controls [13] - **LuxExperience (NYSE:LUXE)**: A niche luxury travel company in the Netherlands, undervalued due to lack of investor attention rather than demand collapse [14] - **Gerdau (NYSE:GGB)**: Brazil's largest long steel producer, trading at low multiples despite consistent cash flow generation [15] - **Honda Motor (NYSE:HMC)**: A global manufacturing leader in Japan, undervalued due to lack of hype around its steady profits and cash flow [16] - **SK Telecom (NYSE:SKM)**: South Korea's largest wireless carrier, undervalued due to low growth expectations despite reliable cash generation [18] - **Jiayin Group (NASDAQ:JFIN)**: A Chinese fintech company facing regulatory uncertainty, leading to extreme valuation discounts [19] - **FinVolution Group (NYSE:FINV)**: Another Chinese fintech platform, similarly undervalued due to regulatory challenges and investor distrust [20] - **KT Corp. (NYSE:KT)**: A leading telecommunications provider in South Korea, generating stable cash flow but facing compressed valuation multiples [21]

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Core Perspective - A group of South Korean farmers, led by Hwang Seong-yeol, has filed a lawsuit against Korea Electric Power Corporation (KEPCO) and its subsidiaries, claiming that their reliance on fossil fuels has exacerbated climate change, leading to agricultural losses [3][4][9]. Group 1: Lawsuit Details - The lawsuit is the first of its kind in South Korea, questioning the quantification of power companies' contributions to climate change and the resulting agricultural damage [4]. - The plaintiffs are seeking initial damages of 5 million won ($3,400) per farmer, with a symbolic request for 2,035 won ($1.4) each to advocate for the phase-out of coal power by 2035 [11]. - KEPCO produced approximately 30% of South Korea's greenhouse gas emissions from 2011 to 2022, which corresponds to about 0.4% of global emissions [10]. Group 2: Impact on Agriculture - Farmers are experiencing significant crop damage due to increasingly erratic weather patterns attributed to climate change, with Hwang expecting a yield reduction of 20% to 25% this year [6][8]. - The South Korean government reported that extreme weather events in 2024 led to "agricultural disasters," affecting thousands of hectares of cropland, particularly rice [8]. - Farmers are facing higher production costs and must use more labor and pesticides to manage the impacts of climate change on their crops [17]. Group 3: Energy Transition Challenges - South Korea's energy mix in 2024 included only 10.5% renewable energy, with KEPCO subsidiaries relying on coal for over 71% of their electricity production [11]. - Experts highlight that KEPCO's significant debt, exceeding 200 trillion won ($137 billion), limits its ability to invest in renewable energy and modernize the power grid [12]. - The slow transition to renewable energy in South Korea may hinder the country's ambitions in advanced technology sectors, as global pressure mounts for cleaner energy operations [16].

Financial Data and Key Metrics Changes - The consolidated operating profit for Q3 2025 was KRW 11.541.4 trillion, with sales revenue increasing by 5.5% to KRW 73 trillion [4][5] - Electricity sales revenue reached KRW 70 trillion, up by 5.9%, while other revenue, including overseas business income, decreased by 0.9% to KRW 3.115 trillion [4][5] - Cost of sales and SG&A expenses totaled KRW 62.205 trillion, down by 2.7%, with fuel costs decreasing by 16% to KRW 14.026 trillion [5] Business Line Data and Key Metrics Changes - Electricity sales volume in Q3 reached 419.9 terawatt hours, up 0.4% year-over-year, primarily due to a summer heat wave [6] - For the full year of 2025, electricity sales are projected to decline slightly due to lower economic growth and a downturn in the manufacturing sector [6] Market Data and Key Metrics Changes - The bituminous coal price was around $105 per tonne, while LNG prices based on JKM were approximately $1,000 per tonne [7] - The generation mix for nuclear power increased due to new nuclear power plants coming online, while coal generation remained stable and LNG generation decreased slightly [7][8] Company Strategy and Development Direction - The company expects an increase in nuclear generation and a decrease in coal generation for 2025, with a maintained LNG mix [8] - The company is closely monitoring interest rate volatility and its impact on short-term corporate bonds, indicating a proactive approach to financial management [13] Management's Comments on Operating Environment and Future Outlook - Management highlighted the need for further investments in the power grid to support renewable energy and stable electricity supply, reinforcing the necessity for tariff increases [19] - The company is exploring opportunities in the U.S. nuclear market and is looking into various options for participation [23] Other Important Information - As of 2025, borrowings stood at KRW 86.1 trillion on a separate basis [9] - The RPS costs for 2025 were KRW 2.876 trillion on a consolidated basis [8] Q&A Session Summary Question: Impact of interest rate volatility on corporate bonds - Management acknowledged monitoring the situation closely but reported no special signs detected yet [13] Question: Introduction of localized marginal pricing - The wholesale pricing system is expected to be introduced in 2025, followed by retail pricing in 2026 [14] Question: Basis for potential electricity tariff increases - Management indicated that the need for investments in grid expansion and achieving greenhouse gas reduction targets would be strong bases for tariff increases [19] Question: Updates on nuclear power projects in the U.S. - Management stated they are exploring various options for participation in the U.S. nuclear market [23] Question: Status of HVDC project and its impact on transmission capacity - The first phase of the HVDC project is expected to be completed by October 2026, providing an additional four gigawatts of transmission capacity [23] Question: Exchange rate volatility and its impact on fuel costs - Management confirmed that they have an open position regarding foreign exchange rates and settle LNG prices based on average exchange rates [34] Question: Future directions for shareholder return policy - Management stated that the dividend policy will consider the net profit of the year, but specific details could not be disclosed at this time [40]

Earnings Results (Q3 2025) - Sales increased by KRW 39.2 billion (+11.1%) from KRW 354.5 billion in 3Q 2024 to KRW 393.7 billion in 3Q 2025 [5, 7] - Operating profit increased by KRW 5.5 billion (+13.1%) from KRW 42.0 billion in 3Q 2024 to KRW 47.5 billion in 3Q 2025 [5] - Net profit increased by KRW 8.8 billion (+26.0%) from KRW 33.9 billion in 3Q 2024 to KRW 42.7 billion in 3Q 2025 [5] Sales Review (Q3 2025) - Thermal sales increased by KRW 6.8 billion (+6.7%) year-over-year (YOY) due to an increase in planned outage [7] - Nuclear Hydro sales increased by KRW 18.6 billion (+11.7%) YOY due to an increase in planned outage [7] - Overseas sales increased by KRW 10.6 billion (+30.4%) YOY, driven by an increase in overseas thermal retrofit projects [7] - Domestic Non-KEPCO sales increased by KRW 1.9 billion (+6.0%) YOY, due to an increase in life extension construction [7] Operating Expenses Review (Q3 2025) - Material costs decreased by KRW 2.5 billion (-10.4%) YOY [8] - Labor costs increased by KRW 7.9 billion (+5.9%) YOY, primarily due to an increase in planned outage outsourcing costs [8] - Other costs increased by KRW 28.3 billion (+18.4%) YOY [8] Consolidated Income Statement (Q3 2025) - Accumulated sales increased by KRW 9.8 billion (+0.9%) YOY from KRW 1,125.9 billion to KRW 1,135.7 billion [10] - Accumulated net income decreased by KRW 32.2 billion (-23.5%) YOY from KRW 137.0 billion to KRW 104.8 billion [10] Consolidated Financial Position (Sep. 2025 vs Dec. 2024) - Current assets decreased by KRW 43.5 billion (-4.1%) due to a decrease in accounts receivable [12] - Non-current liabilities increased by KRW 46.7 billion (+326.6%) due to an increase in defined benefit obligation [12]

Core Insights - Saudi Power Procurement Co. has awarded five renewable energy projects with a total capacity of 4,500 MW and investments exceeding SAR 9 billion ($2.4 billion) [2] - The projects are part of the sixth phase of the National Renewable Energy Program, overseen by the Ministry of Energy [2] Wind Power Project - The Dawadmi wind energy project has a capacity of 1,500 MW and achieved a production cost of 5.01760 halalas/kWh ($1.33803/kWh), setting a new world record for the lowest levelized cost of energy (LCOE) for wind power [3][7] Solar Energy Projects - The Najran solar energy project has a capacity of 1,400 MW and an LCOE of 4.11307 halalas/kWh ($1.09682/kWh), marking the second-lowest global cost for solar power generation [4][7] - The Ad Darb solar PV IPP plant has a capacity of 600 MW and an LCOE of $1.36070/kWh (5.10262 halalas/kWh) [5] - The Samtah solar PV IPP has a capacity of 600 MW with a production cost of 5.57544 halalas/kWh ($1.48678/kWh) [5] - The As Sufun Solar PV IPP plant has a capacity of 400 MW and a production cost of 5.65074 halalas/kWh ($1.50686/kWh) [6] Future Projections - By the end of 2025, the total renewable energy capacity tendered is expected to reach 64 GW, with 43.2 GW of power purchase agreements already signed, including 12.3 GW that are commissioned and connected to the national grid [8]

Core Insights - The article emphasizes the investment opportunities in the Clean Energy economy, particularly focusing on nuclear energy as a key area for growth [1]. Group 1: Company and Industry Overview - The investment group Green Growth Giants is led by Manika Premsingh, a macroeconomist with over 20 years of experience in investment management, stock broking, and investment banking [2]. - The subscription service offers access to a Nuclear Energy Portfolio and regular updates on portfolio stocks, highlighting the potential for high performance in this sector [1]. Group 2: Market Positioning - The coverage includes rare stocks within the nuclear energy sector and rankings of ETFs based on proprietary methodologies, indicating a comprehensive approach to identifying investment opportunities [1].

Core Insights - The Pulau Indah Power Plant is a significant advancement in Malaysia's energy sector, showcasing collaboration between federal and state levels to achieve energy security and sustainable growth [1][2][3] - The project is part of Malaysia's National Energy Transition Roadmap, emphasizing the shift from coal to cleaner energy sources [2][3] - The plant, with a capacity of 1,200 megawatts, utilizes advanced turbine technology to lower emissions and supports future expansions in solar, hydro, and hydrogen energy [3][5] Project Details - The Pulau Indah Power Plant is a combined-cycle gas turbine facility located in Pulau Indah, owned by a joint venture between Worldwide Holdings Berhad and Korea Electric Power Corporation [5][6] - The plant commenced commercial operations on March 1 under a 21-year Power Purchase Agreement with Tenaga Nasional Berhad, creating over 2,500 job opportunities during its development [5] - The project is situated on a 60-acre reclaimed site and is classified as a High-Impact Project under the First Selangor Plan [6] Future Directions - The Deputy Prime Minister encouraged further exploration of opportunities in hydrogen and floating solar technologies, as well as green power purchase agreements to enhance sustainability [4] - The project is seen as a foundation for developing an energy ecosystem that aligns with global sustainability standards [4]