Form 6-K

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 July 2007

 


KOREA ELECTRIC POWER CORPORATION

(Translation of registrant’s name into English)

 


167, Samseong-dong, Gangnam-gu, Seoul 135-791, 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       X            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      X    

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, including by reference in the Registration Statement on Form F-3 (Registration No. 33-99550) and the Registration Statement on Form F-3 (Registration No. 333-9180).


Korea Electric Power Corporation (“KEPCO”) announces its un-audited, preliminary financial results for the first half of 2007 and 2006 as attached hereto.

* Attachment 1. un-audited, preliminary statements of income of KEPCO for the first half of 2007 and 2006

* Attachment 2. un-audited, preliminary statements of income including KEPCO’s six generation subsidiaries (“GENCOs”) for the first half of 2007 and 2006

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

By:  

/s/ Kim, Myung-Whan

Name:   Kim, Myung-Whan
Title :   General Manager
  International Finance Department

Date: July 27, 2007


Disclaimer:

The financial information relating to the results of operations of Korea Electric Power Corporation (“KEPCO”) for the six-month period ended June 30, 2007 and 2006 as presented below (the “Information”) has been prepared by KEPCO based on preliminary internal estimates. The Information has been prepared on a non-consolidated basis based on Korean GAAP. The Information has neither been audited nor reviewed by KEPCO’s independent accountants, Deloitte Anjin LLC., or any other independent public accountants. The Information may differ significantly from the actual non-consolidated financial condition and results of operations of KEPCO as of June 30, 2007, and accordingly should not be relied upon for investment, including but not limited to purchase of any securities, or other purposes.

Korea Electric Power Corporation

Preliminary NON-CONSOLIDATED STATEMENTS OF INCOME (Unaudited)

for the first half of 2007 and 2006

 

(Unit : in billions of Korean Won)

   1H 2007    1H 2006    Change  

Operating revenues:

   13,678    12,853    6.4 %
                

Sale of electric power

   13,537    12,766    6.0 %

Other operating revenues

   134    76    77.7 %

Revenues for other businesses

   7    12    -40.3 %
                

Operating expenses:

   13,615    12,874    5.8 %
                

Fuel

   16    15    6.6 %

Purchased power

   11,029    10,329    6.8 %

Maintenance

   406    432    -6.0 %

Depreciation

   893    912    -2.0 %

Other operating expenses

   1,259    1,171    8.3 %

Expenses for other businesses

   12    16    -20.5 %
                

Operating income

   63    -21    -395.3 %
                

Non-operating income:

   1,524    1,430    6.6 %
                

Gain on foreign currency transactions and translation

   12    145    -91.5 %

Investment income from affiliates

   1,159    1,151    0.7 %

Other

   352    134    163.2 %
                

Non-operating expenses:

   363    400    -9.2 %
                

Interest expenses

   281    274    2.5 %

Loss on foreign currency transactions and translation

   7    7    1.4 %

Investment loss from affiliates

   9    56    -84.0 %

Other

   67    63    5.9 %
                

Earnings before taxes

   1,224    1,009    21.3 %
                

Provision for income taxes

   183    117    56.0 %
                

Net income

   1,041    891    16.7 %
                

* The figures may not add up due to rounding.


Disclaimer:

The financial information relating to the results of operations of Korea Electric Power Corporation (“KEPCO”) and/or certain of its subsidiaries for the six-month period ended June 30, 2007 and 2006 as presented below (the “Information”) has been prepared by KEPCO based on preliminary internal estimates. The Information is not consolidated and made by simply adding the results of operations of KEPCO to the results of operations of its six-generation subsidiaries (“GENCOs”), after adjusting for major inter-company transactions. The Information has neither been audited nor reviewed by KEPCO’s independent accountants, Deloitte Anjin LLC., or any other independent public accountants. The Information may differ significantly from the actual financial condition and results of operations of KEPCO and GENCOs as of June 30, 2007, and accordingly should not be relied upon for investment, including but not limited to purchase of any securities, or other purposes.

Korea Electric Power Corporation

Estimated STATEMENTS OF INCOME including six GENCOs (Unaudited)

for the first half of 2007 and 2006

 

(Unit : in billions of Korean Won)

   1H 2007    1H 2006    Change  

Operating revenues:

   13,700    12,930    6.0 %
                

Sale of electric power

   13,502    12,728    6.1 %

Other operating revenues

   89    88    0.9 %

Revenues for other businesses

   110    115    -4.2 %
                

Operating expenses:

   12,141    11,455    6.0 %
                

Fuel

   5,209    4,803    8.5 %

Purchased power

   1,158    1,004    15.4 %

Maintenance

   968    944    2.6 %

Depreciation

   2,433    2,461    -1.1 %

Other operating expenses

   2,360    2,228    5.9 %

Expenses for other businesses

   12    16    -20.5 %
                

Operating income

   1,560    1,476    5.7 %
                

Non-operating income:

   633    619    2.3 %
                

Gain on foreign currency transactions and translation

   31    262    -88.1 %

Investment income from affiliates

   122    88    39.7 %

Other

   480    269    78.2 %
                

Non-operating expenses:

   580    682    -14.9 %
                

Interest expenses

   366    348    5.0 %

Loss on foreign currency transactions and translation

   13    16    -16.4 %

Investment loss from affiliates

   9    56    -84.0 %

Other

   192    261    -26.4 %
                

Earnings before taxes

   1,613    1,413    14.1 %
                

Provision for income taxes

   572    521    9.7 %
                

Net income

   1,041    891    16.7 %
                

* The figures may not add up due to rounding.