SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 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 2012

Commission File Number: 001-13372

 

 

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.

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Korea Electric Power Corporation (“KEPCO”) hereby announces its unaudited consolidated results of operation for the first half of 2012 and unaudited consolidated financial position as of June 30, 2012, as attached hereto, which have been prepared based on KEPCO’s preliminary estimates.

Disclaimer:

The financial information relating to the consolidated results of operations of KEPCO for the first half of 2012 and the consolidated financial position of KEPCO as of June 30, 2012 as presented below (the “Information”) has been prepared by KEPCO based on preliminary estimates and in accordance with the International Financial Reporting Standard (IFRS). The Information has been neither 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 results of operations of KEPCO for the first half of 2012 or the actual financial position of KEPCO as of June 30, 2012, and accordingly should not be relied upon for investment, including but not limited to purchase of any securities, or for other purposes.

PRELIMINARY CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)

For the second quarter ended June 30, 2012 and 2011,

and for the first six months ended June 30, 2012 and 2011

 

(Unit : in billions of Korean Won)		2Q 2012				2Q 2011				Change				1H 2012				1H 2011				Change
Operating revenues:			10,612				9,116				16.4	%			23,915				19,916				20.1	%
Sale of electric power			9,930				8,510				16.7	%			22,382				18,812				19.0	%
Other			683				606				12.7	%			1,534				1,104				38.9	%
Cost of goods sold & selling and administrative expenses:			12,746				10,123				25.9	%			26,365				21,590				22.1	%
Fuel			6,279				4,825				30.1	%			13,209				10,770				22.7	%
Purchased power			2,620				1,642				59.5	%			5,471				3,663				49.3	%
Depreciation			1,542				1,474				4.6	%			3,116				2,916				6.9	%
Maintenance			351				347				1.3	%			668				699				-4.4	%
Commissions			221				218				1.5	%			411				397				3.7	%
Research and development			123				132				-7.2	%			232				232				-0.1	%
Other			1,611				1,485				8.5	%			3,258				2,914				11.8	%
Other revenues			177				173				2.4	%			352				324				8.7	%
Other expenses			18				10				78.6	%			39				37				5.8	%
Other Income			18				4f6				-60.6	%			75				114				-34.1	%
Operating income (loss)			(1,956	)			(797	)			-145.3	%			(2,062	)			(1,273	)			-61.9	%
Finance income:			81				305				-73.3	%			306				721				-57.6	%
Interest income			47				33				42.5	%			89				66				33.9	%
Gain (Loss) on foreign currency translation and transaction			(96	)			276				n/m				53				571				-90.6	%
Gain (Loss) on financial derivatives			113				(6	)			n/m				140				66				111.7	%
Other			17				1				n/m				23				17				35.2	%
Finance expenses:			574				816				-29.7	%			1,225				1,509				-18.8	%
Interest expense			575				554				3.8	%			1,136				1,065				6.7	%
Gain (Loss) on foreign currency translation and transaction			19				32				-38.6	%			36				63				-43.8	%
Gain (Loss) on financial derivatives			(21	)			230				n/m				54				381				-85.9	%
Equity income (loss) of affiliates, net			87				22				n/m				173				166				4.3	%
Gain (Loss) on disposal of affiliates			(0.3	)			3				n/m				(0.3	)			3				n/m
Income (Loss) before income tax			(2,362	)			(1,284	)			-83.9	%			(2,808	)			(1,892	)			-48.4	%
Income tax expenses (benefits)			(597	)			(223	)			n/m				(530	)			(287	)			-84.9	%
Net income (loss)			(1,765	)			(1,062	)			-66.3	%			(2,278	)			(1,605	)			-41.9	%
Non-controlling interests			19				25				-23.5	%			44				31				43.6	%
Owners of the company			(1,784	)			(1,087	)			-64.2	%			(2,322	)			(1,636	)			-41.9	%

 

*	The figures may not add up due to rounding.

**	n/m means not meaningful.

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PRELIMINARY CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited)

As of June 30, 2012 and December 31, 2011

 

(Unit : in billions of Korean Won)		1H 2012				2011				Change
Current Assets			14,923				14,126				5.6	%
Non-current Assets			125,885				122,342				2.9	%
Total Assets			140,808				136,468				3.2	%
Current Liabilities			22,181				17,741				25.0	%
Non-current Liabilities			67,292				64,923				3.6	%
Total Liabilities			89,472				82,664				8.2	%
Total Equity			51,336				53,804				-4.6	%
Total Liabilities and Equity			140,808				136,468				3.2	%

 

*	The figures may not add up due to rounding.

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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 10, 2012