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 October, 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-            .

 

 

 

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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”) hereby announces its un-audited estimated earnings results for the nine months ended September 30, 2007 and 2008 as attached hereto.

 

*		Attachment 1.		un-audited unconsolidated estimated statements of income of KEPCO as of and for the nine months ended September 30, 2007 and 2008
		Attachment 2.		un-audited unconsolidated estimated statements of income of KEPCO and its six generation subsidiaries for the nine months ended September 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 nine-month period ended September 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 nine months ended September 30, 2008, 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: October 17, 2008

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Disclaimer:

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

 

(Unit : in billions of Korean Won)		3Q 2008		3Q 2007		Change		Change%
Operating revenues:		23,341		21,774		1,567		7.2	%
Sale of electric power		23,118		21,558		1,560		7.2	%
Other operating revenues		211		205		6		2.8	%
Revenues for other businesses		12		12		1		5.1	%
Operating expenses:		24,834		20,566		4,268		20.8	%
Fuel		36		26		10		37.6	%
Purchased power		20,541		16,550		3,991		24.1	%
Maintenance		606		626		-20		-3.2	%
Depreciation		1,442		1,372		69		5.0	%
Other operating expenses		2,178		1,975		203		10.3	%
Expenses for other businesses		33		18		15		85.2	%
Operating income		-1,493		1,208		-2,701		-223.6	%
Non-operating income:		1,519		2,111		-592		-28.0	%
Gain on foreign currency transactions and translation		9		15		-6		-40.4	%
Investment income from affiliates		998		1,659		-661		-39.8	%
Other		513		438		75		17.1	%
Non-operating expenses:		1,317		529		788		149.0	%
Interest expenses		536		426		110		25.9	%
Loss on foreign currency transactions and translation		475		30		446		1495.3	%
Investment loss from affiliates		190		10		180		1747.6	%
Other		115		63		52		82.4	%
Earnings before taxes		-1,291		2,790		-4,081		-146.3	%
Provision for income taxes		-501		586		-1,088		-185.5	%
Net income		-789		2,204		-2,993		-135.8	%

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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 September 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 September 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 September 30, 2007 and 2008

 

(Unit : in billions of Korean Won)		3Q 2008		3Q 2007		Change		Change
Operating revenues:		23,175		21,767		1,408		6.5	%
Sale of electric power		22,953		21,484		1,469		6.8	%
Other operating revenues		57		154		-98		-63.3	%
Revenues for other businesses		165		128		37		28.8	%
Operating expenses:		23,479		18,411		5,068		27.5	%
Fuel		11,088		7,724		3,364		43.6	%
Purchased power		2,907		1,774		1,134		63.9	%
Maintenance		1,519		1,462		57		3.9	%
Depreciation		3,837		3,735		102		2.7	%
Other operating expenses		4,095		3,699		396		10.7	%
Expenses for other businesses		33		18		15		85.2	%
Operating income		-305		3,356		-3,660		-109.1	%
Non-operating income:		1,692		832		859		103.3	%
Gain on foreign currency transactions and translation		38		50		-12		-24.8	%
Investment income from affiliates		211		171		40		23.4	%
Other		1,443		611		832		136.2	%
Non-operating expenses:		2,434		838		1,596		190.5	%
Interest expenses		722		557		165		29.6	%
Loss on foreign currency transactions and translation		1,413		45		1,368		3027.0	%
Investment loss from affiliates		54		10		44		425.2	%
Other		244		225		19		8.3	%
Earnings before taxes		-1,047		3,350		-4,397		-131.2	%
Provision for income taxes		-258		1,146		-1,404		-122.5	%
Net income		-789		2,204		-2,993		-135.8	%