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 April, 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).

 

 

 

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Korea Electric Power Corporation (“KEPCO”) hereby announces its un-audited, preliminary earnings results for the first quarter of fiscal year 2007 and 2008 as attached hereto.

 

*		Attachment  1.		un-audited, preliminary statements of income of KEPCO for the first quarter of fiscal year 2007 and 2008
		Attachment  2.		un-audited, estimated statements of income including KEPCO and its six generation subsidiaries for the first quarter of fiscal year 2007 and 2008

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: April 30, 2008

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Disclaimer:

The financial information relating to the results of operations of Korea Electric Power Corporation (“KEPCO”) for the first quarter of 2007 and 2008 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, 2008, 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 March 31, 2007 and 2008

 

(Unit : in billions of Korean Won)		1Q 2008			1Q 2007		Change
Operating revenues:		8,017			7,156		12.0	%
Sale of electric power		7,958			7,094		12.2	%
Other operating revenues		56			58		-2.8	%
Revenues for other businesses		3			4		-40.5	%
Operating expenses:		8,236			7,030		17.2	%
Fuel		10			8		20.0	%
Purchased power		6,979			5,834		19.6	%
Maintenance		149			151		-1.5	%
Depreciation		472			437		8.1	%
Other operating expenses		618			593		4.0	%
Expenses for other businesses		8			6		21.9	%
Operating income		(219	)		126		-274.0	%
Non-operating income:		830			1,020		-18.6	%
Gain on foreign currency transactions and translation		1			0		400.0	%
Investment income from affiliates		672			792		-15.1	%
Other		157			228		-31.0	%
Non-operating expenses:		354			223		58.5	%
Interest expenses		157			136		15.9	%
Loss on foreign currency transactions and translation		129			36		260.2	%
Investment loss from affiliates		26			21		26.4	%
Other		41			31		32.9	%
Earnings before taxes		257			922		-72.1	%
Provision for income taxes		(43	)		147		-129.3	%
Net income		300			775		-61.3	%

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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 fiscal year ended March 31, 2007 and 2008 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 March 31, 2008, 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 March 31, 2007 and 2008

 

(Unit : in billions of Korean Won)		1Q 2008		1Q 2007		Change
Operating revenues:		8,077		7,208		12.1	%
Sale of electric power		7,929		7,077		12.0	%
Other operating revenues		44		50		-12.0	%
Revenues for other businesses		104		81		28.4	%
Operating expenses:		7,523		6,101		23.3	%
Fuel		3,729		2,821		32.2	%
Purchased power		975		589		65.5	%
Maintenance		388		377		2.9	%
Depreciation		1,240		1,200		3.3	%
Other operating expenses		1,182		1,108		6.7	%
Expenses for other businesses		9		6		50.0	%
Operating income		554		1,107		-50.0	%
Non-operating income:		628		434		44.7	%
Gain on foreign currency transactions and translation		14		2		600.0	%
Investment income from affiliates		150		116		29.3	%
Other		464		316		46.8	%
Non-operating expenses:		738		363		103.3	%
Interest expenses		206		175		17.7	%
Loss on foreign currency transactions and translation		399		67		495.5	%
Investment loss from affiliates		26		21		23.8	%
Other		107		100		7.0	%
Earnings before taxes		444		1,178		-62.3	%
Provision for income taxes		144		403		-64.2	%
Net income		300		775		-61.3	%