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 February, 2008

 

 

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 fiscal year ended December 31, 2006 and 2007 as attached hereto.

 

[GRAPHIC

APPEARS HERE]

  Attachment 1.   un-audited, preliminary statements of income of KEPCO for the fiscal year 2006 and 2007
  Attachment 2.   un-audited, estimated statements of income including six generation subsidiaries of KEPCO for the fiscal year 2006 and 2007

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, In-gon

Name:   Kim, In-gon
Title:   Treasurer

Date: February 1, 2008


Disclaimer:

The financial information relating to the results of operations of Korea Electric Power Corporation (“KEPCO”) for the fiscal year ended December 31, 2006 and 2007 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 December 31, 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)

As of December 31, 2006 and 2007

 

(Unit : in billions of Korean Won)

   2007    2006    Change  

Operating revenues:

   28,984    26,979    7.4 %
                

Sale of electric power

   28,646    26,659    7.5 %

Other operating revenues

   307    242    27.3 %

Revenues for other businesses

   31    78    -61.1 %
                

Operating expenses:

   28,602    25,747    11.1 %
                

Fuel

   36    35    3.2 %

Purchased power

   22,724    20,347    11.7 %

Maintenance

   946    857    10.4 %

Depreciation

   1,883    1,817    3.6 %

Other operating expenses

   2,969    2,606    4.0 %

Expenses for other businesses

   44    86    -48.9 %
                

Operating income

   382    1,232    -69.0 %
                

Non-operating income:

   2,356    2,179    8.1 %
                

Gain on foreign currency transactions and translation

   1    251    -99.6 %

Investment income from affiliates

   1,786    1,628    9.7 %

Other

   569    299    90.0 %
                

Non-operating expenses:

   840    786    6.8 %
                

Interest expenses

   603    544    10.7 %

Loss on foreign currency transactions and translation

   78    15    434.2 %

Investment loss from affiliates

   20    39    -48.2 %

Other

   139    189    -26.0 %
                

Earnings before taxes

   1,898    2,624    -27.7 %
                

Provision for income taxes

   341    553    -38.4 %
                

Net income

   1,557    2,071    -24.8 %
                


Disclaimer:

The financial information relating to the results of operations of Korea Electric Power Corporation (“KEPCO”) and/or certain of its subsidiaries for the fiscal year ended December 31, 2006 and 2007 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 wholly owned 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 December 31, 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)

As of December 31, 2006 and 2007

 

(Unit : in billions of Korean Won)

   2007    2006    Change  

Operating revenues:

   29,010    27,089    7.1 %
                

Sale of electric power

   28,559    26,567    7.5 %

Other operating revenues

   239    269    -11.2 %

Revenues for other businesses

   212    253    -16.2 %
                

Operating expenses:

   26,426    23,867    10.7 %
                

Fuel

   10,980    9,523    15.3 %

Purchased power

   2,584    2,103    22.9 %

Maintenance

   2,204    2,119    4.0 %

Depreciation

   5,133    5,006    2.5 %

Other operating expenses

   5,481    5,030    9.0 %

Expenses for other businesses

   44    86    -48.8 %
                

Operating income

   2,584    3,222    -19.8 %
                

Non-operating income:

   1,150    1,227    -6.3 %
                

Gain on foreign currency transactions and translation

   25    456    -94.5 %

Investment income from affiliates

   291    195    49.2 %

Other

   834    576    44.8 %
                

Non-operating expenses:

   1,282    1,288    -0.5 %
                

Interest expenses

   780    679    14.9 %

Loss on foreign currency transactions and translation

   143    27    429.6 %

Investment loss from affiliates

   20    39    -48.7 %

Other

   339    543    -37.6 %
                

Earnings before taxes

   2,452    3,161    -22.4 %
                

Provision for income taxes

   895    1,091    -18.0 %
                

Net income

   1,557    2,070    -24.8 %