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Korea Electric Power 

“Market Cap $21.86 B As of May 2014

At a Glance

  • Industry: Electric Utilities
  • Founded: 1915
  • Country: South Korea
  • CEO: Hwan Eik Cho
  • Website: www.kepco.co.kr
  • Employees: 19,271
  • Sales: $49.36 B
  • Headquarters: Seoul

Forbes Lists

#524 Global 2000

  • #172 in Sales
  • #183 in Assets
  • #504 in Market value
Profile

Korea Electric Power Corp. engages in the generation, transmission and distribution of electricity and development of electric power resources. It operates through the following Domestic and Overseas Business areas. The Domestic Business area provides operations related to the transmission, distribution, and sale to end-users of electricity purchased from generation subsidiaries as well as from independent power producers through the Korea Power Exchange. The Overseas Business area provides services power generation, distribution, transmission, power Information Technology (IT), personnel training and plant projects. The company was founded on July 1, 1961 and is headquartered in Seoul, South Korea.

“Korea Electric Power History

KEPCO traces its origins to Hanseong Jeongi Hoesa (Seoul Electric Company), founded in 1898 during the Joseon Dynasty. The announcement of the Chosun Electricity Control Decree by the Colonial Korean government in March 1943 saw the integration of several electric companies into the Korea Electric Power Company. The Korea Electric Company (KECO), established through the integration of the Korea Electric Power Company and two distribution companies, Gyeongsung Electric Company and South Korea Electric Company, opened on July 1, 1961. In 1982, KECO became a wholly government owned entity and was renamed the Korea Electric Power Corporation (KEPCO).

KEPCO was listed on the Korea Composite Stock Price Index (KOSPI) on August 10, 1989 and later in 1994 on the New York Stock Exchange. In 1996, KEPCO was named the prime contractor for the multinational Korean Peninsula Energy Development Organization (KEDO) project to construct a light water reactor nuclear power plant in North Korea, a project which was eventually abandoned in 2006. Following a push by the Korean government to restructure Korea’s power industry which began in the mid-1990s, the Act on the Promotion of Restructuring the Electric Power Industry was proclaimed on December 23, 2000, after which the electricity generation business was split up into Korea Hydro & Nuclear Power, a subsidiary responsible for nuclear & hydro power generation, and five thermal power generation companies: Korea South-East Power, Korea Midland Power, Korea Western Power, Korea Southern Power, and Korea East-West Power.

In October 2012, Korea Deposit Insurance Corporation sold its 3.6% of its stake in KEPCO for a fee of around $550 million.”

*Information from Forbes.com and Wikipedia.org

**Video published on YouTube by “kepconuclear