KOREA ELECTRIC POWER CORP

Overview

Korea Electric Power Corporation (KEPCO) is an integrated electric-utility group whose core businesses span electricity generation, transmission and distribution, alongside power-plant maintenance and engineering services. Its portfolio includes nuclear and non-nuclear generation, and the group reported 169 subsidiaries in 2025.[1][2]

South Korea is KEPCO’s primary market, with overseas operations and affiliates also contributing to its business. For FY2025, consolidated revenue was approximately ₩96.6 trillion, including ₩95.4 trillion from domestic customers and ₩1.1 trillion from overseas customers. KEPCO reported 23,011 employees in 2025.[3]+2

KEPCO describes its priorities as providing reliable electricity and developing energy technologies and new growth businesses; its stated vision is “Global Energy & Solution Leader.” The company traces its establishment to 1961.[6][7] [1]+6

Products & services

KEPCO’s principal customer offering is electricity supply: it transmits and distributes electricity and sells it to end users, while its generation subsidiaries produce nuclear and non-nuclear power. In 2025, reported external-customer segment revenue was ₩92,351.3 billion for transmission and distribution, ₩365.8 billion for nuclear generation, and ₩2,528.0 billion for non-nuclear generation. The company does not report these figures as product-revenue percentages in the cited data.[8][1] It also reports plant maintenance and engineering services, with ₩557.4 billion in 2025 external-customer segment revenue.[1]

Additional offerings include smart-metering services, grid technologies, energy-system projects and EV charging. KEPCO describes its AMIGO smart meter as supporting high-resolution data collection and software updates; its grid technologies include digital substations, HVDC transmission and energy storage systems (ESS). Its microgrid projects combine technologies such as photovoltaic generation, ESS and DC grids. The KEPCO PLUG service supports charging-station searches, fee information, NFC payment and QR-code charging.[9]+3 [8]+8

Geographic presence

KEPCO’s core electricity operations and sales are concentrated in South Korea, while its overseas presence is primarily through power projects and related businesses. Its official global-network figures, dated September 1, 2024, report activity in 17 countries across 37 businesses, with 28,655 MW; these figures are not a 2025 year-end count.[13][14]

KEPCO’s overseas business information identifies activity in Saudi Arabia, Jordan, the United Arab Emirates, China, Malaysia, Vietnam, the Philippines, Indonesia, Japan, the United States and Mexico. Examples include the Yona solar-plus-storage project in Guam and the Sadawi solar project in Saudi Arabia; the company’s January 2025 feature describes these among projects undertaken since 1995.[14][15]

KEPCO lists overseas offices in Abu Dhabi, Manila, Beijing, New York, Jakarta, Tokyo, Hanoi, Johannesburg, London, Sydney and Riyadh. Its FY2025 Form 20-F, filed in 2026, also lists subsidiaries associated with multiple countries and regions, including the Philippines, China, Australia, the Netherlands, Jordan, Indonesia, Mexico, Chile, the United States, Guam and South Africa.[16]+3 [17]+6

Business segments

For FY2025, KEPCO reported five business segments: transmission and distribution; electric power generation (nuclear); electric power generation (non-nuclear); plant maintenance and engineering service; and others, primarily overseas operations. The first three together comprise its electricity business. KEPCO describes transmission and distribution as transmitting, distributing, and selling electricity to end-users; its generation subsidiaries sell electricity to the parent through the Korea Power Exchange.[19]

As a share of 2025 consolidated external-customer revenue of ₩96,567,586 million, transmission and distribution contributed approximately 95.6%; nuclear generation 0.4%; non-nuclear generation 2.6%; plant maintenance and engineering service 0.6%; and other operations 0.8%. These percentages are calculated from reported segment external revenues.[1] [19]+6

Company history

KEPCO traces its origins to Hanseong Electric Company, founded in 1898. The present company was formed on July 1, 1961, through the integration of three predecessor utilities: Joseon Jeonup, Gyeongseong Electric, and Namseon Electric. It became a public corporation in 1982, and its shares were listed in Korea in 1989 and as American depositary receipts on the New York Stock Exchange in 1994.[7][20]

KEPCO began overseas business in 1995 with a thermal power plant rehabilitation project in the Philippines. In 2001, electricity-industry restructuring separated generation into six subsidiaries, spanning thermal, hydro, and nuclear power. A further milestone came in 2009, when KEPCO signed a contract to build four APR1400 nuclear reactors at the UAE’s Barakah site, its first overseas nuclear-export project.[21][14] [7]+3

Sources

• KOREA ELECTRIC POWER CORP — Full financial report (2025 Y)
  6 citations

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• www.kepco.co.kr[5]
• www.kepco.co.kr[6]
• www.kepco.co.kr[7]
• KOREA ELECTRIC POWER CORP — Full financial report (2024 Y)[8]
• www.kepco.co.kr[9]
• www.kepco.co.kr[10]
• www.kepco.co.kr[11]
• plug.kepco.co.kr[12]
• www.kepco.co.kr[13]
• www.kepco.co.kr[14]
• home.kepco.co.kr[15]
• home.kepco.co.kr[16]
• www.sec.gov[18]
• home.kepco.co.kr[20]
• home.kepco.co.kr[21]