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 August, 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 estimated earnings results for the six months ended June 30, 2007 and 2008 as attached hereto.

 

ø		Attachment 1.		un-audited unconsolidated estimated statements of income of KEPCO as of and for the six months ended June 30, 2007 and 2008
		Attachment 2.		un-audited unconsolidated estimated statements of income of KEPCO and its six generation subsidiaries six months ended June 30, 2007 and 2008

Disclaimer:

The financial information relating to the results of operations of Korea Electric Power Corporation (“KEPCO”) and/or certain of its subsidiaries for the six-month period ended June 30, 2007 and 2008 as presented in the attachments 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 six months ended June 30, 2008, and accordingly should not be relied upon for investment, including but not limited to purchase of any securities, or for other purposes.

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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: August 13, 2008

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Attachment 1

 

Disclaimer:

The financial information relating to the results of operations of Korea Electric Power Corporation (“KEPCO”) for the first half 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 June 30, 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 June 30, 2007 and 2008

 

(Unit : in billions of Korean Won)		1H 2008		1H 2007		Change
Operating revenues:		14,861		13,678		8.6	%
Sale of electric power		14,713		13,537		8.7	%
Other operating revenues		140		134		4.3	%
Revenues for other businesses		8		7		12.7	%
Operating expenses:		15,988		13,615		17.4	%
Fuel		22		16		32.7	%
Purchased power		13,174		11,029		19.4	%
Maintenance		367		406		-9.5	%
Depreciation		951		893		6.4	%
Other operating expenses		1,454		1,259		15.5	%
Expenses for other businesses		21		12		68.5	%
Operating income		-1,127		63		-1883.2	%
Non-operating income:		1,040		1,506		-30.9	%
Gain on foreign currency transactions and translation		1		12		-91.9	%
Investment income from affiliates		771		1,159		-33.5	%
Other		268		335		-19.8	%
Non-operating expenses:		730		361		102.4	%
Interest expenses		336		281		19.6	%
Loss on foreign currency transactions and translation		219		7		3022.9	%
Investment loss from affiliates		132		9		1364.4	%
Other		44		64		-31.1	%
Earnings before taxes		-817		1,208		-167.6	%
Provision for income taxes		-354		168		-310.9	%
Net income		-464		1,041		-144.5	%

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Attachment 2

 

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 June 30, 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 June 30, 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 June 30, 2007 and 2008

 

(Unit : in billions of Korean Won)		1H 2008		1H 2007		Change
Operating revenues:		14,842		13,700		8.3	%
Sale of electric power		14,641		13,502		8.4	%
Other operating revenues		57		88		-35.3	%
Revenues for other businesses		144		110		31.1	%
Operating expenses:		15,119		12,139		24.6	%
Fuel		6,999		5,209		34.4	%
Purchased power		1,919		1,158		65.7	%
Maintenance		958		968		-1.1	%
Depreciation		2,498		2,431		2.7	%
Other operating expenses		2,724		2,360		15.5	%
Expenses for other businesses		21		12		68.5	%
Operating income		-277		1,561		-117.7	%
Non-operating income:		908		615		47.5	%
Gain on foreign currency transactions and translation		23		31		-25.6	%
Investment income from affiliates		171		122		40.0	%
Other		714		462		54.5	%
Non-operating expenses:		1,253		580		116.1	%
Interest expenses		440		366		20.3	%
Loss on foreign currency transactions and translation		623		13		4545.5	%
Investment loss from affiliates		54		9		501.1	%
Other		136		191		-29.2	%
Earnings before taxes		-622		1,597		-138.9	%
Provision for income taxes		-158		556		-128.4	%
Net income		-464		1,041		-144.6	%