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 2009

 

 

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).

 

 

 

 

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Korea Electric Power Corporation (“KEPCO”) hereby announces its un-audited, preliminary earnings results for the first half of 2008 and 2009 as attached hereto.

Attachment 1. Un-audited, preliminary statements of income of KEPCO for the first half of 2008 and 2009

Attachment 2. Un-audited, estimated statements of income including KEPCO and its six generation subsidiaries for the first half of 2008 and 2009

Disclaimer:

The financial information relating to the results of operations of Korea Electric Power Corporation (“KEPCO”) for the first half ended June 30, 2009 and 2008 as presented in the attachment hereto (the “Information”) has been prepared by KEPCO based on preliminary internal estimates. The Information is not consolidated and has been prepared 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 and for the first half ended June 30, 2009, and accordingly should not be relied upon for investment, including but not limited to purchase of any securities, or for other purposes.

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.

 

Date: July 24, 2009

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Un-audited, preliminary statements of income of KEPCO for the first half of 2008 and 2009

As of June 30, 2009 and 2008

 

(Unit : in billions of Korean Won)		1H 2009		1H 2008		Change		Change%
Operating revenues:		15,725		14,861		864		5.8	%
Sale of electric power		15,541		14,713		828		5.6	%
Other operating revenues		171		140		32		22.6	%
Revenues for other businesses		12		8		4		49.4	%
Operating expenses:		17,251		15,988		1,263		7.9	%
Purchased power		14,630		13,174		1,456		11.1	%
Fuel		19		22		-3		-11.6	%
Maintenance		332		367		-35		-9.5	%
Depreciation		989		951		38		4.0	%
Other operating expenses		1,260		1,454		-194		-13.3	%
Expenses for other businesses		21		21		0		1.0	%
Operating income		-1,527		-1,127		-399		-35.4	%
Non-Operating income:		1,380		1,040		340		32.7	%
Gain on foreign currency transactions and translation		20		1		19		1920.0	%
Investment income from affiliates		1,116		771		345		44.7	%
Other		244		268		-24		-8.9	%
Non-Operating expenses:		642		730		-89		-12.1	%
Interest expenses		508		336		172		51.2	%
Loss on foreign currency transactions and translation		54		219		-165		-75.3	%
Investment loss from affiliates		23		132		-109		-82.8	%
Other		57		44		13		29.6	%
Earnings before taxes		-788		-817		29		3.6	%
Provision for income taxes		-146		-354		208		58.8	%
Net income		-643		-464		-179		-38.5	%

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Un-audited, estimated statements of income including KEPCO and its six generation subsidiaries for the first half of 2008 and 2009

As of June 30, 2009 and 2008

 

(Unit : in billions of Korean Won)		1H 2009		1H 2008		Change		Change%
Operating revenues:		15,720		14,842		879		5.9	%
Sale of electric power		15,433		14,644		789		5.4	%
Other operating revenues		137		54		84		155.1	%
Revenues for other businesses		150		144		6		4.4	%
Operating expenses:		15,813		15,119		694		4.6	%
Purchased power		7,677		6,999		678		9.7	%
Fuel		1,863		1,919		-55		-2.9	%
Maintenance		1,228		958		270		28.1	%
Depreciation		2,638		2,494		144		5.8	%
Other operating expenses		2,386		2,728		-343		-12.6	%
Expenses for other businesses		21		21		0		1.0	%
Operating income		-93		-277		184		66.5	%
Non-Operating income:		857		908		-51		-5.6	%
Gain on foreign currency transactions and translation		210		23		186		803.0	%
Investment income from affiliates		211		171		40		23.4	%
Other		436		713		-277		-38.9	%
Non-Operating expenses:		1,282		1,252		30		2.4	%
Interest expenses		813		440		372		84.6	%
Loss on foreign currency transactions and translation		305		623		-318		-51.1	%
Investment loss from affiliates		23		54		-31		-58.0	%
Other		142		136		7		5.0	%
Earnings before taxes		-518		-622		104		16.7	%
Provision for income taxes		125		-158		282		179.0	%
Net income		-643		-464		-179		-38.5	%

 

•

Disclaimer :

The financial information relating to the results of operations of Korea Electric Power Corporation (“KEPCO”) and/or certain of its subsidiaries for the first half of 2008 and 2009 as presented above (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 June 30, 2008 and 2009, and accordingly should not be relied upon for investment, including but not limited to purchase of any securities, or other purposes.