Korea Electric Power (KEP)

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Korea Electric Power (KEP) - 2023 Q4 - Annual Report
2024-04-30 20:09
Fuel Costs and Pricing - In 2023, fuel costs constituted 30.1% of the company's cost of sales, with the ratio of fuel costs to sales at 30.8%[36] - The average weekly spot price of Newcastle coal decreased from US$179.13 per ton in 2022 to US$106.38 per ton in 2023, and further to US$89.36 per ton as of April 5, 2024[36] - The average daily spot price of Dubai crude oil decreased from US$97.03 per barrel in 2022 to US$81.93 per barrel in 2023, and increased to US$91.71 per barrel as of April 5, 2024[36] - The maximum adjustment to the Fuel Cost Adjusted Charge is limited to Won ±5 per kilowatt-hour from the Base Fuel Cost[41] - The company increased the Usage Charge by Won 11.4 and Won 8.0 per kilowatt-hour in January and May 2023 respectively, to reflect a portion of the increase in the Base Fuel Cost[46] Financial Performance - In 2023, the company incurred operating and net losses of Won 4,245 billion and Won 4,716 billion respectively due to rising fuel prices among other reasons[47] - In 2023, the company reported sales of Won 87,476 billion and a net loss of Won 4,716 billion, compared to sales of Won 70,546 billion and a net loss of Won 24,429 billion in 2022[170] - The company experienced net losses for the last three years due to significant increases in global energy prices and power purchase costs, leading to higher debt issuance to meet working capital needs[79] Government Policies and Regulations - The government announced plans to gradually increase the tariff to address the company's cumulative deficit by 2026, but there is no assurance that these plans will be realized[46] - The government plans to freeze utility rates, including the tariff, during the first half of 2024[46] - The Government's new tariff structure, effective January 1, 2017, changed from a six-tiered to a three-tiered system, reducing the highest rate to no more than three times the lowest rate[52] - The government may adopt policy measures affecting tariff rates, which could financially burden the company[52] - The government has suspended plans to privatize one of the non-nuclear generation subsidiaries due to market conditions[49] Energy Generation and Capacity - The Tenth Basic Plan aims to increase nuclear generation capacities from 26.1 gigawatts in 2023 to 31.7 gigawatts by 2036, while reducing coal generation capacities from 40.2 gigawatts to 27.1 gigawatts during the same period[55] - Domestic renewable energy generation capacity is projected to expand from 32.8 gigawatts in 2023 to 108.3 gigawatts by 2036[55] - The total coal-fired power plant capacity is projected to decrease from 40.2 gigawatts in 2023 to 27.1 gigawatts by 2036, reducing its share of total power generation capacity from 27.1% to 11.3%[67] - The company owns approximately 57.6% of the total electricity generation capacity in Korea, indicating a significant market position that may be threatened by new entrants[91] - The total installed generation capacity of the company and its subsidiaries is 83,235 megawatts, comprising 794 generation units[226] Environmental and Carbon Neutrality Initiatives - The company plans to contribute to achieving carbon neutrality by 2050 through power grid innovation and enhancing grid stability[172] - The company aims to expand clean energy supply and improve demand-side energy efficiency by collaborating with subsidiaries and independent power producers[177] - The company intends to transform its overseas business portfolio to focus on eco-friendly projects and end overseas coal-fired generation projects[177] - The company plans to secure core technologies necessary for achieving carbon neutrality through aggressive R&D investment[177] - The national target emission level for 2030 is set at 436.6 million tons, representing a 40% reduction compared to 2018 levels[66] Risks and Challenges - The company is exposed to risks related to ongoing sanctions, which may necessitate terminating relationships with Russian suppliers and finding alternative sources[136] - Unfavorable financial conditions in Korea and globally could adversely affect the company's business and financial condition, particularly due to dependence on Korean consumer demand for electricity[137] - Ongoing inflation and geopolitical conflicts may negatively impact the Korean economy, affecting the company's profitability[139] - The operation of nuclear power generation facilities involves numerous hazards, which could result in material losses or increased expenses[101] - Cybersecurity risks are increasing, with potential impacts on electricity availability and operational reliability due to sophisticated attacks[1] Corporate Governance and Ownership - As of December 31, 2023, the government owned 51.1% of the company's issued capital stock, which may complicate future equity financing without government participation[1] - The Korean government maintains a 51.1% ownership stake in the company, which influences corporate matters including dividend approvals[164][165] - Foreign investment in the company is subject to a 40% ceiling, with a 3% limit on individual foreign investors, which may restrict ownership[151][152] Labor and Employment - Approximately 74.1% of the company's employees were members of labor unions as of December 31, 2023[97] - The government has pledged to transition non-permanent workers to permanent positions, which may increase costs for the company[98] Strategic Initiatives - The company plans to maintain a controlling stake in its five non-nuclear generation subsidiaries despite considering minority share sales[50] - The company is actively pursuing overseas expansion opportunities, particularly in renewable energy, which may involve different risks compared to domestic operations[87] - The company is working to improve its risk monitoring and management system to prevent incidents similar to past occurrences[1]
Korea Electric Power (KEP) - 2023 Q4 - Annual Report
2024-04-30 10:05
Board Composition and Governance - Mr. Kang, Hoon was appointed as a non-standing director of Korea Electric Power Corporation (KEPCO) for a term of two years starting May 1, 2024[2]. - The board of directors now includes 14 members, with 6 standing directors and 8 non-standing directors[8]. - The current President & CEO, Kim, Dong-Cheol, has held the position since September 19, 2023[8]. - The new non-standing director, Kang, Hoon, has a background as an attorney and has held various legal positions, including Judge of Seoul High Court[4]. - The board composition reflects a diverse range of expertise, including finance, safety, and global business management[8]. - The appointment of Kang, Hoon replaces the former non-standing director, Ms. Kim, Jae-Shin, whose term expired[2]. - The board includes members with specific roles in audit and ESG committees, enhancing governance and sustainability focus[8]. - KEPCO's governance structure aims to strengthen oversight and strategic planning through its diverse board[8]. - The appointment of new directors is part of KEPCO's strategy to enhance its operational effectiveness and corporate governance[2]. - The company continues to adapt its leadership to align with evolving market and regulatory demands[2].
Korea Electric Power (KEP) - 2024 Q1 - Quarterly Report
2024-03-11 21:28
Financial Performance - Total sales for 2023 reached W 88,219,461 million, a significant increase of 24% compared to W 71,257,863 million in 2022[31] - The gross loss for 2023 was W 1,480,066 million, improving from a gross loss of W 29,645,731 million in 2022[31] - Operating loss decreased to W 4,541,648 million in 2023 from W 32,655,153 million in 2022, indicating a positive trend in operational efficiency[31] - The net loss for the year was W 4,716,144 million, a reduction from W 24,429,108 million in 2022, reflecting improved financial performance[32] - The total comprehensive loss for the period was W 4,716,144 million, compared to a loss of W 24,429,108 million in the previous year[35] - The company reported a basic and diluted loss per share of W 7,512 in 2023, compared to W 38,112 in 2022, indicating a reduction in loss per share[32] - Other comprehensive loss for the year amounted to W 228,672 million in 2023, contrasting with a comprehensive income of W 1,246,869 million in 2022[32] Assets and Liabilities - KEPCO's total assets as of December 31, 2023, amounted to 239,714,965 million won, a decrease from 234,804,994 million won in 2022[28] - Current assets decreased slightly to 29,536,215 million won in 2023 from 29,750,545 million won in 2022[28] - Non-current assets totaled 210,178,750 million won in 2023, compared to 205,054,449 million won in 2022, marking an increase of approximately 2.3%[28] - Total liabilities increased to W 202,450,215 million in 2023 from W 192,804,738 million in 2022, primarily driven by current financial liabilities[29] - The company’s current liabilities totaled W 61,248,421 million in 2023, up from W 44,518,577 million in 2022, reflecting increased short-term obligations[29] - Non-current financial liabilities decreased to W 92,944,338 million in 2023 from W 98,334,120 million in 2022, indicating a reduction in long-term debt[29] Cash Flow - Cash flows from operating activities showed a loss of W 5,141,681 million, an increase in loss compared to W 3,512,610 million in the previous year[37] - Cash generated from operating activities for 2023 was W 5,978,734 million, a significant recovery from a cash outflow of W (20,760,295) million in 2022[38] - Net cash provided by (used in) operating activities improved to W 1,522,162 million in 2023 from a net cash outflow of W (23,477,500) million in 2022[38] - Net cash used in investing activities decreased to W (13,073,757) million in 2023 from W (14,953,753) million in 2022, indicating a reduction in investment outflows[38] - Net cash provided by financing activities was W 12,661,882 million in 2023, down from W 38,997,899 million in 2022, reflecting a decrease in financing activities[38] Equity and Retained Earnings - Total equity attributable to owners of the controlling company decreased to W 35,845,043 million in 2023 from W 40,545,396 million in 2022[29] - The company's retained earnings decreased to W 16,338,262 million from W 21,431,300 million, reflecting a decline of approximately 23.8%[35] - The balance of equity attributable to owners of the controlling company decreased to W 35,845,043 million from W 40,545,396 million, a decline of approximately 11.6%[35] Revenue Recognition and Accounting Policies - Electricity sales revenue accounted for 94.03% of consolidated revenue for the year ended December 31, 2023[98] - The Group recognizes revenue based on the percentage-of-completion for contracts such as EPC business and O&M[100] - The Group applies a cost pass-through tariff system for electricity rates, effective from January 1, 2021[100] - The Group recognizes current tax based on expected tax payable or receivable on taxable profit or loss for the year[124] - Deferred tax assets are recognized for deductible temporary differences to the extent that it is probable taxable profit will be available[127] Impairment and Audit Matters - The impairment assessment of property, plant, and equipment was identified as a key audit matter due to the significant carrying value and complexity involved[14] - Management's assessment indicated signs of impairment for the Group's electricity transmission and distribution business as of December 31, 2023[15] - The company recognized a loss on impairment of property, plant, and equipment amounting to W 17,031 million, compared to a reversal of loss of W 97,425 million in the previous year[37] Segment Information - The Group's operating segments include Transmission and Distribution, Electric Power Generation (Nuclear and Non-nuclear), and Plant Maintenance & Engineering Service, with segment performance assessed regularly[195] - Segment operating profit is determined similarly to consolidated operating profit under KIFRS, without adjustments for corporate allocations[196] - Segment assets for transmission and distribution increased to W 138,838,342 million in 2023 from W 131,023,727 million in 2022, reflecting a growth of about 5.5%[199] - The total segment liabilities rose to W 202,450,215 million in 2023, up from W 192,804,738 million in 2022, marking an increase of approximately 5.9%[200] - The electric power generation (Non-nuclear) segment reported a revenue of W 35,159,641 million in 2023, compared to W 41,944,339 million in 2022, reflecting a decrease of approximately 16.3%[198]
Korea Electric Power (KEP) - 2022 Q4 - Annual Report
2023-04-28 14:32
Fuel Costs and Pricing - In 2022, fuel costs constituted 34.4% of the company's cost of sales, with the ratio of fuel costs to sales at 49.1%[35] - The average weekly spot price of Newcastle coal increased from $84.77 per ton in 2021 to $179.13 per ton in 2022, then decreased to $123.26 per ton as of April 7, 2023[35] - The average daily spot price of Dubai crude oil rose from $69.01 per barrel in 2021 to $97.03 per barrel in 2022, then decreased to $85.25 per barrel as of April 7, 2023[37] - In 2022, the company incurred operating and net losses of Won 32,241 billion and Won 24,429 billion respectively due to rising fuel prices[45] - Approximately 91.8% of the company's bituminous coal requirements in 2022 were purchased under long-term contracts, with 8.2% sourced from the spot market[35] - The company implemented a new cost pass-through tariff system on January 1, 2021, to enhance transparency in billing fuel costs[38] - The maximum adjustment for the Fuel Cost Adjusted Charge is limited to Won ±5 per kilowatt-hour from the Base Fuel Cost[39] - The company increased the Usage Charge by Won 11.4 per kilowatt-hour in January 2023 to reflect a portion of the increase in the Base Fuel Cost[44] - The government announced plans to normalize the tariff in stages to resolve the cumulative deficit by 2026, though no assurance is provided on the timeline[44] - The company faces risks related to fuel price volatility, which could adversely affect profit margins and lead to operating losses if tariffs are not adjusted accordingly[45] Energy Policy and Capacity Expansion - The Tenth Basic Plan aims to increase nuclear generation capacities from 26.1 gigawatts in 2023 to 31.7 gigawatts by 2036, while reducing coal generation capacities from 40.2 gigawatts to 27.1 gigawatts during the same period[53] - Domestic renewable energy generation capacity is projected to expand from 32.8 gigawatts in 2023 to 108.3 gigawatts by 2036[53] - The Government plans to retire 28 coal-fired power plants with a total capacity of 14.1 gigawatts and convert them to LNG by 2036[53] - The introduction of carbon-free power sources is expected to reach 47.4 terawatt-hours in 2036, accounting for 7.1% of total annual power generation[53] - The capacity expansion plans are based on the Basic Plan, which is revised every two years, with the latest revision announced in January 2023[53] - The Renewable Portfolio Standard target percentage is set to increase from 13.0% in 2023 to 17.0% by 2027[68] - The Renewable Energy 3020 Plan aims to increase the share of renewable energy in total electricity generation from 7% in 2016 to 20% by 2030[72] Environmental and Regulatory Compliance - The national target emission level for 2030 is set at 436.6 million tons, representing a 40% reduction compared to 2018 levels[66] - The Transformation sector's target emission level for 2030 is 145.9 million tons, indicating a 45.9% reduction from 2018[66] - The government has mandated annual sector-specific greenhouse gas reduction targets for the next 20 years, from 2023 to 2042[66] - The company has engaged in voluntary regulations to lower the output of coal-fired generation units, with a cap of 80% on output for some units[66] - The company is subject to the Serious Accident Punishment Act (SAPA), which imposes criminal liability for serious accidents and could lead to punitive damages of up to five times the actual damages[116] - The company may face increased compliance costs due to government initiatives, which could adversely affect its financial condition and cash flows[76] Financial Performance and Investments - In 2022, the company reported sales of Won 70,546 billion and a net loss of Won 24,429 billion, compared to sales of Won 60,012 billion and a net loss of Won 5,216 billion in 2021[173] - The company announced a capital expenditure of Won 15,485 billion, Won 13,964 billion, and Won 13,886 billion for the years 2020, 2021, and 2022 respectively, with budgeted capital expenditures for 2023, 2024, and 2025 amounting to Won 16,927 billion, Won 16,306 billion, and Won 17,908 billion[79] - The company is subject to a new debt ceiling that allows total outstanding debt securities to be no greater than five times the sum of its share capital and reserves, effective until December 31, 2027[81] Market and Geopolitical Risks - The company is exposed to cyber security risks, including targeted attacks that could adversely impact its business and financial condition[128] - The U.S. and allied countries have imposed extensive sanctions on Russia, including a ban on the importation of Russian crude oil and certain petroleum products[132] - Sanctions may require the company to restrict or modify operations related to Russian fuel products, impacting procurement and contractual terms[133] - Ongoing sanctions could lead to increased global prices for fuels such as coal, uranium, and LNG due to supply curtailment[135] - The company faces risks related to compliance with economic sanctions, which could result in administrative, civil, or criminal penalties[135] - The COVID-19 pandemic continues to pose uncertainties that may adversely affect the company's operations and financial condition[136] - Economic conditions in Korea and globally, including inflation and rising energy prices, could materially impact the company's business[140] - The company is subject to political and economic risks specific to Korea, which are closely tied to global economic developments[139] - Tensions with North Korea may adversely affect the company's market value and operations[145] Corporate Governance and Ownership - The Korean government holds a 51.1% ownership stake in the company as of December 31, 2022, through direct and indirect holdings[169] - The company is required to have at least 51% of its issued capital stock owned by the Government, which may limit its ability to raise share capital without government participation[122] - The company is subject to a 40% ceiling on acquisitions of shares by foreign investors, with a 3% ceiling for single investors[156][157] - The company has consented to the deposit of outstanding shares of common stock as long as the number of American depositary shares does not exceed 80,153,810 shares[154] Operational Challenges and Labor Relations - Approximately 74.0% of the company's employees were members of labor unions as of December 31, 2022, indicating potential labor unrest risks[99] - The government has pledged to reduce non-permanent workers and increase permanent employment, which may lead to increased costs for the company[101] - The company has faced social and political opposition to the construction of facilities, which has delayed project timelines[112] Future Strategies and Innovations - The company aims to achieve carbon neutrality by 2050 through power grid innovation and enhancing grid stability with advanced systems[176] - The company plans to expand clean energy supply and improve demand-side energy efficiency by collaborating with subsidiaries and independent power producers[176] - The company intends to transform its overseas business portfolio to focus on eco-friendly projects and end overseas coal-fired generation projects[182] - The company is committed to securing core technologies necessary for achieving carbon neutrality through aggressive R&D investment and collaboration with industry stakeholders[182] - The company aims to promote digitalization across its supply chain to enhance operational efficiency and develop new customer service models based on data platforms[182]
Korea Electric Power (KEP) - 2023 Q1 - Quarterly Report
2023-03-13 19:06
Financial Performance - Total sales for 2022 reached W71,257,863 million, an increase of 17.3% compared to W60,673,587 million in 2021[31]. - The gross loss for 2022 was W29,645,731 million, compared to a gross loss of W2,970,703 million in 2021, indicating a significant decline in profitability[31]. - Operating loss for 2022 was W32,655,153 million, up from W5,846,499 million in 2021, reflecting increased operational challenges[31]. - The net loss for the year 2022 was W24,429,108 million, compared to a net loss of W5,215,581 million in 2021, representing a substantial increase in losses[32]. - The company reported finance income of W1,833,312 million in 2022, an increase from W1,402,614 million in 2021, showing improved financial management[31]. - Other comprehensive income for the year was W1,246,869 million, compared to W599,614 million in 2021, indicating a positive shift in overall financial health despite operational losses[32]. - Basic and diluted loss per share for 2022 was W38,112, compared to W8,263 in 2021, highlighting the increased financial burden on shareholders[32]. - The company reported a loss of W24,466,853 million for the period, significantly impacting retained earnings which decreased to W21,431,300 million[35]. - The total comprehensive income for the period included a remeasurement of defined benefit liability, net of tax, amounting to W626,769 million[35]. - The company reported a significant increase in proceeds from disposals of financial assets, reaching W14,182,348 million in 2022, compared to W7,023,674 million in 2021[38]. Assets and Liabilities - Korea Electric Power Corporation (KEPCO) reported total assets of 234,804,994 million won as of December 31, 2022, an increase from 211,123,727 million won in 2021, reflecting a growth of approximately 11%[28]. - Current assets rose to 29,750,545 million won in 2022, up from 22,050,845 million won in 2021, indicating a growth of about 35%[28]. - Non-current assets totaled 205,054,449 million won in 2022, compared to 189,072,882 million won in 2021, reflecting an increase of approximately 8.5%[28]. - Total liabilities as of December 31, 2022, amounted to W192,804,738 million, an increase of 32.2% from W145,797,021 million in 2021[29]. - Non-current financial liabilities increased to W98,334,120 million in 2022, up from W66,570,419 million in 2021, indicating higher long-term debt obligations[29]. - Total equity attributable to owners of the controlling company decreased to W40,545,396 million in 2022 from W63,780,272 million in 2021, reflecting a decline in shareholder value[29]. - The balance of non-controlling interests as of December 31, 2022, was W1,454,860 million, reflecting changes in consolidation scope and transactions between consolidated entities[35]. Cash Flow - In 2022, Korea Electric Power Corporation (KEPCO) reported a net cash outflow from operating activities of W(23,477,500) million, a significant decline compared to a net inflow of W4,491,378 million in 2021[38]. - The company experienced a net cash outflow from investing activities of W(14,953,753) million in 2022, compared to W(12,372,520) million in 2021[38]. - KEPCO's net cash provided by financing activities increased to W38,997,899 million in 2022, up from W8,435,077 million in 2021[38]. - The total cash and cash equivalents at December 31, 2022, amounted to W3,234,780 million, up from W2,635,238 million at the end of 2021[38]. Operational Efficiency and Strategy - The company is focused on enhancing its financial position and operational efficiency through strategic assessments and management of its assets[15]. - The company plans to expand its market presence and invest in new technologies to enhance operational efficiency and drive future growth[37]. - Future guidance indicates a focus on improving cash flow management and reducing operational costs to achieve profitability in the upcoming fiscal year[37]. Segment Performance - Total segment revenue for 2022 was W71,257,863 million, an increase from W60,673,587 million in 2021, representing a growth of approximately 17.5%[200]. - The operating profit for the Transmission and Distribution segment in 2022 was W1,922,354 million, compared to a loss of W7,425,576 million in 2021, indicating a significant turnaround[200]. - Electric power generation (Nuclear) segment reported an operating profit of W653,839 million in 2022, up from W116,875 million in 2021, reflecting a substantial increase of 460%[200]. - The Electric power generation (Non-nuclear) segment generated an operating profit of W316,908 million in 2022, compared to W351,824 million in 2021, showing a slight decrease of 9.9%[200]. - Plant maintenance & engineering service segment achieved an operating profit of W236,310 million in 2022, up from W434,885 million in 2021, indicating a decrease of 45.6%[200]. - The Others segment reported an operating profit of W297,116 million in 2022, compared to W203,121 million in 2021, marking an increase of 46.2%[200]. Accounting Policies and Standards - The Group applies a cost pass-through tariff system for electricity rates effective from January 1, 2021, which is expected to not affect existing accounting policies[103]. - The Group recognizes revenue based on the percentage-of-completion for contracts such as EPC business and O&M[102]. - The Group's accounting policies include recognizing deferred tax assets and liabilities in accordance with KIFRS 1012 and KIFRS 1019[16]. - The Group assesses impairment losses at the end of each reporting period, recognizing losses if the carrying amount exceeds the recoverable amount[97]. - The Group's property, plant, and equipment are depreciated on a straight-line basis over estimated useful lives ranging from 2 to 65 years, depending on the asset type[139].
Korea Electric Power (KEP) - 2022 Q2 - Quarterly Report
2022-06-30 10:17
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 June 2022 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 4 ...
Korea Electric Power (KEP) - 2021 Q4 - Annual Report
2022-04-29 16:56
As filed with the Securities and Exchange Commission on April 29, 2022 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPO ...
Korea Electric Power (KEP) - 2022 Q1 - Quarterly Report
2022-03-14 11:36
Table of Contents SECURITIES AND EXCHANGE COMMISSION Washington, DC 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 March 2022 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. F ...
Korea Electric Power (KEP) - 2020 Q4 - Annual Report
2021-04-30 14:49
As filed with the Securities and Exchange Commission on April 30, 2021 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPO ...
Korea Electric Power (KEP) - 2019 Q4 - Annual Report
2020-04-29 17:18
As filed with the Securities and Exchange Commission on April 29, 2020 ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requi ...