Korea Electric Power stock | 2026 price target, earnings & valuation

Korea Electric Power

KOSE:A015760

₩ 52.200,00

+ ₩1.600,00 (3,16%)

52.200,00 ₩

+₩1.600,00 (3,16%)

End-of-day quote: 12/05/2025

Korea Electric Power Stock Value

Currently, analysts rate KOSE:A015760 as Outperform.

Outperform

Korea Electric Power Company Info

EPS Growth 5Y

28,39%

Market Cap

₩33.510,53 B

Long-Term Debt

₩88.167,80 B

Annual earnings

02/27/2026

Dividend

₩219,24

Dividend Yield

0,42%

Founded

1898

Industry

Utilities

Country

South Korea

Website

Korea Electric Power

ISIN Number

KR7015760002

Website

http://home.kepco.co.kr

Analyst Price Target

₩60.500,00

15.9%

Last Update: 12/06/2025

Analysts: 18

Highest Price Target ₩68.000,00

Average Price Target ₩60.500,00

Lowest Price Target ₩42.000,00

In the last five quarters, Korea Electric Power’s Price Target has risen from ₩12.490,48 to ₩27.211,76 - a 117,86% increase. Fiveteen analysts predict that Korea Electric Power’s share price will increase in the coming year, reaching ₩60.500,00. This would represent an increase of 15,90%.

Top growth stocks in the utilities sector (5Y.)

What does Korea Electric Power do?

Korea Electric Power Corporation (KEPCO) operates as an integrated electric utility company that engages in the transmission and distribution of substantially all of the electricity in Korea. The company, through its six wholly-owned generation subsidiaries, generates the substantial majority of electricity produced in Korea. As of December 31, 2024, the company and its generation subsidiaries owned approximately 55.8% of the total electricity generation capacity in Korea (excluding plants gene...

Korea Electric Power Corporation (KEPCO) operates as an integrated electric utility company that engages in the transmission and distribution of substantially all of the electricity in Korea.

The company, through its six wholly-owned generation subsidiaries, generates the substantial majority of electricity produced in Korea. As of December 31, 2024, the company and its generation subsidiaries owned approximately 55.8% of the total electricity generation capacity in Korea (excluding plants generating electricity primarily for private or emergency use).

In 2024, the company sold to its customers 549,821 gigawatt-hours of electricity. The company purchases electricity principally from its generation subsidiaries and, to a lesser extent, from independent power producers. Of the 549,148 gigawatt-hours of electricity the company purchased in 2024, 33.8% was generated by Korea Hydro & Nuclear Power Co., Ltd. (KHNP), its wholly-owned nuclear and hydroelectric power generation subsidiary, 34.0% was generated by its wholly-owned five non-nuclear generation subsidiaries and 32.3% was generated by independent power producers that trade electricity to the company through the cost-based pool system of power trading (excluding independent power producers that supply electricity under power purchase agreements with the company). The company’s five non-nuclear generation subsidiaries are KOSEP, KOMIPO, KOWEPO, KOSPO and EWP, each of which is wholly owned by the company and is incorporated in Korea. The company derives substantially all of its revenues and profit from Korea, and substantially all of the company’s assets are located in Korea.

Strategy

The company’s strategic initiatives to achieve such targets are to establish a power grid system that can further contribute to achieving carbon neutrality; expand clean energy and promote strategic demand response; lead future energy market and improve sales competitiveness; lead platform-based new businesses; transform overseas business portfolio to focus on eco-friendly projects and core competencies; secure future technologies and build a research and development (R&D) ecosystem; promote digitalization in overall supply chain; and establish a highly reliable and highly efficient management system with respect to human beings and environment.

Power Purchased from Independent Power Producers under Power Purchase Agreements

In 2024, the company purchased an aggregate of 23,003 gigawatt hours of electricity generated by independent power producers under existing power purchase agreements. These independent power producers had an aggregate generation capacity of 18,805 megawatts as of December 31, 2024.

Power Generation

As of December 31, 2024, the company and its generation subsidiaries had a total of 848 generation units, including nuclear, thermal, hydroelectric and internal combustion units, representing total installed generation capacity of 85,424 megawatts. The company’s thermal units produce electricity using steam turbine generators fired by coal, oil and LNG. The company’s internal combustion units use oil or diesel-fired gas turbines and its combined-cycle units are primarily LNG-fired. The company also purchases power from several generation plants not owned by its generation subsidiaries.

The company’s generation subsidiaries have constructed and operated thermal and internal combustion units in order to help meet power demand. Subject to market conditions, the company’s generation subsidiaries plan to continue to add additional thermal (other than coal-fired) and internal combustion units. These units generally take less time to complete construction than nuclear units.

Power Plant Remodeling and Recommissioning

The company’s generation subsidiaries supplement power generation capacity through remodeling or recommissioning of thermal units. Recommissioning includes installation of anti-pollution devices, modification of control systems and overall rehabilitation of existing equipment.

Transmission and Distribution

The company transmits and distributes substantially all of the electricity in Korea.

As of December 31, 2024, the company’s transmission system consisted of 35,856 circuit kilometers of lines of 765 kilovolts and others including high-voltage direct lines, and it had 925 substations with aggregate installed transformer capacity of 368,758 megavolt-amperes.

As of December 31, 2024, the company’s distribution system consisted of 148,176 megavolt-amperes of transformer capacity and 10,251,345 units of support with a total line length of 547,850 circuit kilometers.

New Energy Industry Projects

Certain of the company’s new energy industry projects are include:

Advanced Metering Infrastructure

In July 2012, the Government implemented a master plan to build out a smart grid, which includes the Advanced Metering Infrastructure (AMI) roadmap. In August 2018 and February 2023, the Government updated the master plan to focus on building an electricity market ecosystem and constructing a smart energy-consuming structure focused on energy efficiency. In accordance with this plan, the company is in the process of installing smart meters and related communication networks and operating systems as part of the smart grid initiative, in an effort to enhance efficiency in the power electricity industry and alleviate growing energy shortage concerns. Smart meters refer to digital meters that record, on a real-time basis, electricity consumption within a household, so that consumers will have a price-based incentive to enhance efficiency in their electricity usage. As of December 31, 2024, the company had established a data communication network that enables smart meters for 2.5 million households, and it plans to establish this network for the remaining 20.0 million households in a new replacement cycle starting from 2025.

Smart Grids

As part of its overall business strategy, the company is developing and implementing smart grids based on advanced information technology in order to promote more efficient allocation and use of electricity by consumers. The company expects that such technology will improve efficiency and reduce electricity loss over the course of electricity transmission and distribution. The company also expects that the smart grid initiative will significantly increase efficient energy consumption by providing real-time data to customers, which would in turn help to reduce greenhouse gas emission and decrease Korea’s reliance on foreign energy sources.

Energy Storage Systems

In October 2013, as part of an endeavor to create new markets for energy demand management applications using information and communication technology, the company established a business plan to roll out energy storage systems for frequency regulation nationwide. These systems involve the establishment and operation of batteries and transformers with large-sized charge and discharge capabilities adjacent to substations to transmit electricity stably with regulated frequencies and optimize the efficiency of the substation operation.

In December 2014, the company conducted a pilot project for this initiative by installing a total of 52-megawatt energy storage systems at the Seo-Anseong substation and the Shin-Yongin substation, which commenced commercial operations in July 2015. With the commencement of an energy storage system at Yeong-Ju substation in December 2023 and energy storage sytems at five other substations, including Bu-buk, in September 2024, the total capacity of the company’s energy storage systems reached 1,404 megawatts in 2024.

Electric Vehicle Charging Infrastructure

In order to promote the use of environment-friendly electric vehicles, the company began constructing infrastructure for electric vehicles in 2009. Since 2016, the company has installed electric vehicle charging stations throughout public space and residential building complexes. In 2017, the company created a platform for businesses in the electric vehicle charging industry by charging for the service and making the infrastructure available to the market. The company has installed 9,839 high and low speed electric vehicle charging stations by the end of 2024 and plan to expand such stations in line with the Government policy to popularize electric vehicles. The company plans to continue fostering businesses and revitalizing the electronic vehicle charging market by developing the current infrastructure and providing new services.

In January 2016, the Ministry of Trade, Industry and Energy announced an initiative to promote the new energy industry by creating the New Energy Industry Fund.

Sales and Customers

The company’s sales depend principally on the level of demand for electricity in Korea and the rates the company charges for the electricity it sells to the end-users.

Overseas Activities

The company engages in a number of overseas activities. Such activities help the company diversifies its revenue streams by leveraging the company’s and its subsidiaries’ operational experience from providing a full range of services from power plant construction to specialized engineering and maintenance services. The company is also able to build strategic relationships with countries that are or may become the company’s fuel providers.

The company has continuously expanded its overseas projects starting with an oil-fired power plant in Malaya, the Philippines in 1995. As of the end of December 2024, the company is engaged in 33 projects in 15 countries across Asia, Middle East, Latin America, North America, Africa and Oceania. The total installed capacity amounts to 28,756 megawatts, comprising of 18,977 megawatts of coal-fired power plants, 5,600 megawatts of nuclear power plant and 4,179 megawatts of renewable energy power plants.

Generation Projects

Nuclear Generation Projects

In December 2009, following an international open bidding process, the company entered into a prime contract for the original contract with the Emirates Nuclear Energy Corporation (ENEC), a state-owned nuclear energy provider of the UAE, to design and construct four civil nuclear power generation units to be located in Barakah, a region approximately 270 kilometers from Abu Dhabi, for the UAE’s peaceful nuclear energy program. Under the contract, the company and its subcontractors, some of which are its subsidiaries, are to perform various duties including, among others, designing and constructing four nuclear power generation units each with a capacity of 1,400 megawatts, supplying nuclear fuel for three fuel cycles, including initial loading, with each cycle currently projected to last for approximately 18 months, and providing technical support, training and education related to plant operation.

On October 20, 2016, in order to foster a long-term strategic partnership and stable management of the units’ post-construction, the company entered into an investment agreement with ENEC to jointly establish Barakah One PJSC, a special purpose company which will oversee the operation and management of the nuclear power plant currently being constructed in Barakah, UAE. the company have an 18% equity interest in Barakah One PJSC, and also have an 18% equity interest in Nawah Energy Company, a subsidiary of ENEC, which will also be responsible for the operation and maintenance of the Barakah nuclear power plant.

On June 27, 2023, KHNP entered into a contract for construction of a tritium removal facility at Cernavoda nuclear power plant site in Romania. The procurer is S.N.NUCLEARELECTRICA S.A., a government owned organization that operates two units of CANDU reactors at Cernavoda.

Non-nuclear Generation Projects

The company is engaged in two major power projects in the Philippines: (i) a minority ownership of SPC Power Corporation, a local utility corporation engaged in independent power generation, electricity distribution and other businesses, and (ii) CFBC Coal Power Plant, a 200-megawatt power plant in Cebu on a build, operate and own basis. The plant construction was completed in May 2011, and it will be operated until 2036.

In April 2007, the company formed a limited partnership with Shanxi International Electricity Group and Deutsche Bank, which was approved by the Chinese government, to develop and operate power projects in Shanxi Province, China.

The company holds a 40.0% equity interest in the joint venture, Rabigh Electricity Company, which operates the project. The company’s wholly owned subsidiary, KEPCO Energy Service Company, manages the operation of the project.

The company and Saudi Aramco hold 60% and 40% shares in the project respectively. The company holds a 30% share in the project, while ACWA Power and Saudi Electricity Company each hold a 35% share. The company expects to commence commercial operation in the second quarter of 2028.

Renewable Energy, Transmission & Distribution Projects

As of December 31, 2024, the joint venture operated 22 wind farms with a total capacity of 1,017 megawatts and a 7-megawatt photovoltaic power station.

In September 2024, a consortium comprises the company, Korea East-West Power Co., Ltd. and Samsung C&T Corporation was awarded the Phase 4 renewable energy project in Guam. The consortium will be developing a new photovoltaic power generation station and a battery energy storage system, with expected capacities of 132 megawatts and 326 megawatt-hour, respectively. Under the power purchase agreement, the Guam Power Authority will purchase the entire volume of electricity generated from the power station for a period of 25 years.

In October 2024, a consortium comprises the company, Abu Dhabi Future Energy Company and GD Power Development Co., Ltd was selected as a shortlisted bidder for the 2,000 megawatt Sadawi Solar PV Independent Power Plant by the SPPC. The consortium entered into the major project agreements in November 2024 and will develop a new photovoltaic power station. Under the power purchase agreement, SPPC will purchase the entire volume of electricity generated from the power station for a period of 25 years.

Exploration and Production Projects

The company’s nuclear generation subsidiary, KHNP, is also pursuing development projects for procurements of uranium in countries including Canada, France and Niger.

The company’s subsidiaries, Korea South-East Power Co., Ltd. (KOSEP), Korea Midland Power Co., Ltd. (KOMIPO), Korea Midland Power Co., Ltd. (KOWEPO), Korea Southern Power Co., Ltd. (KOSPO) and Korea East-West Power Co., Ltd. (EWP), have been engaged in mining projects in Kalimantan, Indonesia, collectively holding a 20% equity interest in PT Bayan Resources TBK.

Regulation

The company is a statutory juridical corporation established under the KEPCO Act for the purpose of ensuring a stable supply of electric power and further contributing toward the sound development of the national economy through facilitating development of electric power resources and carrying out proper and effective operation of the electricity business.

The company is under the supervision of the Ministry of Trade, Industry and Energy, which has principal supervisory responsibility (in consultation with other Government agencies, such as the Ministry of Economy and Finance, as applicable) over the company with respect to the appointments of its directors and the company’s other senior management, as well as approval of electricity tariff rate adjustments, among others.

History

Korea Electric Power Corporation was founded in 1898. The company was incorporated in 1981.

Korea Electric Power Questions and Answers

Which sectors generate sales and which are the top 3 markets?

Revenue distribution by sectors: Power generation: approx. 70% Power transmission and distribution: approx. 20% Other services (including renewable energies and international projects): approx. 10% TOP 3 markets: South Korea: approx. 85% USA: approx. 7% Vietnam: approx. 3% Korea Electric Power C...

At which locations are the company’s products manufactured?

Production Sites: South Korea (main production site) International projects in the USA, the Philippines, and other countries Korea Electric Power Corporation (KEPCO) is mainly active in South Korea, where it produces the majority of its electricity. The company operates a variety of power plants,...

What strategy does Korea Electric Power pursue for future growth?

Investments in Renewable Energies: 20% of the total budget (2025) Reduction of Coal Dependency: 15% reduction by 2030 Korea Electric Power Corporation (KEPCO) pursues a strategy that is strongly focused on diversification and expansion of renewable energies. The company plans to invest approximately...

Which raw materials are imported and from which countries?

Main Imported Raw Materials: Coal Liquefied Natural Gas (LNG) Uran Countries of Origin: Coal: Australia, Indonesia, Russia Liquefied Natural Gas (LNG): Qatar, USA, Australia Uranium: Canada, Kazakhstan, Australia Korea Electric Power Corporation (KEPCO) is heavily dependent on imported raw mater...

How strong is the company’s competitive advantage?

Market Share in South Korea: Over 90% (2025) Government Support: High government participation and support Focus on Renewable Energies: Increase investments in renewable energies by 20% (2024) Korea Electric Power Corporation (KEPCO) has a significant competitive advantage as it dominates the majori...

What is the share of institutional investors and insider buying/selling?

Institutional Investor Share: approximately 30% (2025, estimated) Insider Purchases/Sales: No significant transactions reported (2025, estimated) The institutional investor share in Korea Electric Power Corporation is estimated to be around 30%. This figure is based on typical holdings of institutio...

What percentage market share does Korea Electric Power have?

Market share of Korea Electric Power Corporation (KEPCO): 45% (2025, estimated) Main competitors and their market shares: Korea Electric Power Corporation (KEPCO): 45% SK E&S: 15% GS Energy: 12% POSCO Energy: 10% Hanwha Energy: 8% LG Energy Solution: 5% Hyundai Energy Solutions: 3% Daewoo Energ...

Is Korea Electric Power stock currently a good investment?

Revenue Growth: 5% (2024) Profit Growth: -3% (2024) Debt Ratio: 150% (2024) Korea Electric Power Corporation (KEPCO) recorded a revenue growth of 5% in 2024. This indicates that the company is able to increase its income, possibly due to stable demand for electricity and potential price adjustments....

Does Korea Electric Power pay a dividend – and how reliable is the payout?

Dividend payment: No dividend (2025) The Korea Electric Power Corporation (KEPCO) has not paid any dividends in recent years. This is due to the financial challenges the company is facing, especially high debts and losses in recent business years. KEPCO has been focusing on improving its financial s...

Korea Electric Power Stock Value

Korea Electric Power Company Info

Analyst Price Target

Top growth stocks in the utilities sector (5Y.)

What does Korea Electric Power do?

Korea Electric Power Questions and Answers

Offer & Services

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