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 November 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 third quarter of 2012 and unaudited consolidated financial position as of September 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 third quarter of 2012 and the consolidated financial position of KEPCO as of September 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 third quarter of 2012 or the actual financial position of KEPCO as of September 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 third quarter ended September 30, 2012 and 2011,

and for the first nine months ended September 30, 2012 and 2011

 

(Unit: in billions of Korean Won)		2012 Jul.-Sep.				2011 Jul.-Sep.				Change				2012 Jan.-Sep.				2011 Jan.-Sep.				Change
Operating revenues:			13,724				11,725				17.1	%			37,639				31,641				19.0	%
Sale of electric power			12,992				11,047				17.6	%			35,374				29,859				18.5	%
Other			732				678				8.0	%			2,265				1,782				27.1	%
Cost of goods sold & selling and administrative expenses:			11,895				10,371				14.7	%			38,259				31,961				19.7	%
Fuel			5,780				5,019				15.2	%			18,989				15,788				20.3	%
Purchased power			2,267				1,679				35.1	%			7,738				5,342				44.8	%
Depreciation			1,558				1,499				3.9	%			4,673				4,414				5.9	%
Maintenance			270				266				1.4	%			938				965				–2.8	%
Commissions			183				201				–9.2	%			594				598				–0.7	%
Research and development			136				113				20.2	%			368				346				6.6	%
Other			1,701				1,593				6.7	%			4,959				4,507				10.0	%
Other revenues			139				158				–12.2	%			491				482				1.8	%
Other expenses			8				55				–84.8	%			48				93				–48.3	%
Other Income			18				(35	)			n/m				93				80				17.2	%
Operating income (loss)			1,978				1,422				39.1	%			(84	)			149				n/m
Finance income (loss):			272				(258	)			n/m				578				463				24.7	%
Interest income			62				38				60.8	%			151				105				43.7	%
Gain (Loss) on foreign currency translation and transaction			317				(451	)			n/m				370				120				208.8	%
Gain (Loss) on financial derivatives			(92	)			155				n/m				48				221				–78.3	%
Other			(14	)			0.3				n/m				9				18				–48.0	%
Finance expenses:			818				659				24.0	%			2,043				2,169				–5.8	%
Interest expense			617				516				19.6	%			1,753				1,581				10.9	%
Gain (Loss) on foreign currency translation and transaction			(11	)			432				n/m				25				495				–94.9	%
Gain (Loss) on financial derivatives			212				(290	)			n/m				265				93				185.1	%
Equity income (loss) of affiliates, net			(39	)			(48	)			19.5	%			134				118				14.1	%
Gain (Loss) on disposal of affiliates			0.3				0.5				–40.0	%			0				4				n/m
Income (Loss) before income tax			1,394				457				204.9	%			(1,415	)			(1,435	)			1.4	%
Income tax expenses (benefits)			437				164				166.4	%			(93	)			(123	)			24.1	%
Net income (loss)			956				293				266.6	%			(1,322	)			(1,313	)			–0.7	%
Non-controlling interests			17				27				–37.5	%			61				58				6.1	%
Owners of the company			940				266				253.1	%			(1,383	)			(1,370	)			–0.9	%

 

*	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 September 30, 2012 and December 31, 2011

 

(Unit: in billions of Korean Won)		3Q 2012				2011				Change
Current Assets			17,360				14,126				22.9	%
Non-current Assets			126,510				122,342				3.4	%
Total Assets			143,870				136,468				5.4	%
Current Liabilities			19,249				17,741				8.5	%
Non-current Liabilities			72,412				64,923				11.5	%
Total Liabilities			91,661				82,664				10.9	%
Total Equity			52,209				53,804				–3.0	%
Total Liabilities and Equity			143,870				136,468				5.4	%

 

*	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: November 14, 2012