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SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

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FORM 6-K

 

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REPORT OF FOREIGN PRIVATE ISSUER

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

For the Month of May 2007

 

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KOREA ELECTRIC POWER CORPORATION

(Translation of registrant’s name into English)

 

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

(Address of principal executive offices)

 

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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-             .

 

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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”) announces its un-audited, preliminary financial results for the first quarter of 2007 and 2006 as attached hereto.

 

		Attachment 1.		Un-audited, preliminary statements of income of KEPCO for the first quarter of 2007 and 2006.
		Attachment 2.		Un-audited, estimated statements of income of KEPCO including six generation subsidiaries of KEPCO for the first quarter of 2007 and 2006.

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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: May 3, 2007

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Disclaimer:

The financial information relating to the results of operations of Korea Electric Power Corporation (“KEPCO”) for the three-month period ended March 31, 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 March 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)

for the first quarter of 2007 and 2006

 

(Unit : in billions of Korean Won)		2007		2006		Change
Operating revenues:		7,156		6,787		5.4	%
Sale of electric power		7,094		6,754		5.0	%
Other operating revenues		58		26		123.9	%
Revenues for other businesses		4		7		-43.2	%
Operating expenses:		7,030		6,724		4.5	%
Fuel		8		7		11.1	%
Power purchased for resale		5,834		5,533		5.4	%
Maintenance		151		187		-18.9	%
Depreciation		437		455		-3.9	%
Other operating expenses		594		533		11.4	%
Expenses for other businesses		6		9		-31.9	%
Operating income		126		63		100.2	%
Non-operating income:		1,020		972		4.9	%
Gain on foreign currency transactions and translation		0		110		-99.9	%
Investment income from affiliates		792		797		-0.6	%
Other		228		65		251.1	%
Non-operating expenses:		224		246		-9.0	%
Interest expenses		136		138		-1.8	%
Loss on foreign currency transactions and translation		36		2		2293.3	%
Investment loss from affiliates		21		60		-65.4	%
Other		31		46		-31.9	%
Earnings before taxes		922		789		16.8	%
Provision for income taxes		147		57		157.0	%
Net income		775		732		5.9	%

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*	The figures may not add up due to rounding.

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Disclaimer:

The financial information relating to the results of operations of Korea Electric Power Corporation (“KEPCO”) and/or certain of its subsidiaries for the three-month period ended March 31, 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 March 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)

for the first quarter of 2007 and 2006

 

(Unit : in billions of Korean Won)		2007		2006		Change
Operating revenues:		7,199		6,852		5.1	%
Sale of electric power		7,077		6,740		5.0	%
Other operating revenues		41		26		57.7	%
Revenues for other businesses		81		86		-5.8	%
Operating expenses:		6,094		5,841		4.3	%
Fuel		2,821		2,703		4.4	%
Purchased power		589		511		15.3	%
Maintenance		364		375		-2.9	%
Depreciation		1,201		1,215		-1.2	%
Other operating expenses		1,113		1,028		8.3	%
Expenses for other businesses		6		9		-33.3	%
Operating income		1,105		1,011		9.3	%
Non-operating income:		434		407		6.6	%
Gain on foreign currency transactions and translation		3		191		-98.4	%
Investment income from affiliates		116		89		30.3	%
Other		315		127		148.0	%
Non-operating expenses:		362		361		0.3	%
Interest expenses		175		174		0.6	%
Loss on foreign currency transactions and translation		67		4		1575.0	%
Investment loss from affiliates		21		60		-65.0	%
Other		99		123		-19.5	%
Earnings before taxes		1,177		1,057		11.4	%
Provision for income taxes		402		325		23.7	%
Net income		775		732		5.9	%

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*	The figures may not add up due to rounding.