---

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 July 2007

 

---

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-            .

 

---

---

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).

---

Korea Electric Power Corporation (“KEPCO”) announces its un-audited, preliminary financial results for the first half of 2007 and 2006 as attached hereto.

* Attachment 1. un-audited, preliminary statements of income of KEPCO for the first half of 2007 and 2006

* Attachment 2. un-audited, preliminary statements of income including KEPCO’s six generation subsidiaries (“GENCOs”) for the first half of 2007 and 2006

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: July 27, 2007

---

Disclaimer:

The financial information relating to the results of operations of Korea Electric Power Corporation (“KEPCO”) for the six-month period ended June 30, 2007 and 2006 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 June 30, 2007, 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)

for the first half of 2007 and 2006

 

(Unit : in billions of Korean Won)		1H 2007		1H 2006		Change
Operating revenues:		13,678		12,853		6.4	%
Sale of electric power		13,537		12,766		6.0	%
Other operating revenues		134		76		77.7	%
Revenues for other businesses		7		12		-40.3	%
Operating expenses:		13,615		12,874		5.8	%
Fuel		16		15		6.6	%
Purchased power		11,029		10,329		6.8	%
Maintenance		406		432		-6.0	%
Depreciation		893		912		-2.0	%
Other operating expenses		1,259		1,171		8.3	%
Expenses for other businesses		12		16		-20.5	%
Operating income		63		-21		-395.3	%
Non-operating income:		1,524		1,430		6.6	%
Gain on foreign currency transactions and translation		12		145		-91.5	%
Investment income from affiliates		1,159		1,151		0.7	%
Other		352		134		163.2	%
Non-operating expenses:		363		400		-9.2	%
Interest expenses		281		274		2.5	%
Loss on foreign currency transactions and translation		7		7		1.4	%
Investment loss from affiliates		9		56		-84.0	%
Other		67		63		5.9	%
Earnings before taxes		1,224		1,009		21.3	%
Provision for income taxes		183		117		56.0	%
Net income		1,041		891		16.7	%

---

*	The figures may not add up due to rounding.

---

Disclaimer:

The financial information relating to the results of operations of Korea Electric Power Corporation (“KEPCO”) and/or certain of its subsidiaries for the six-month period ended June 30, 2007 and 2006 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 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 June 30, 2007, 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)

for the first half of 2007 and 2006

 

(Unit : in billions of Korean Won)		1H 2007		1H 2006		Change
Operating revenues:		13,700		12,930		6.0	%
Sale of electric power		13,502		12,728		6.1	%
Other operating revenues		89		88		0.9	%
Revenues for other businesses		110		115		-4.2	%
Operating expenses:		12,141		11,455		6.0	%
Fuel		5,209		4,803		8.5	%
Purchased power		1,158		1,004		15.4	%
Maintenance		968		944		2.6	%
Depreciation		2,433		2,461		-1.1	%
Other operating expenses		2,360		2,228		5.9	%
Expenses for other businesses		12		16		-20.5	%
Operating income		1,560		1,476		5.7	%
Non-operating income:		633		619		2.3	%
Gain on foreign currency transactions and translation		31		262		-88.1	%
Investment income from affiliates		122		88		39.7	%
Other		480		269		78.2	%
Non-operating expenses:		580		682		-14.9	%
Interest expenses		366		348		5.0	%
Loss on foreign currency transactions and translation		13		16		-16.4	%
Investment loss from affiliates		9		56		-84.0	%
Other		192		261		-26.4	%
Earnings before taxes		1,613		1,413		14.1	%
Provision for income taxes		572		521		9.7	%
Net income		1,041		891		16.7	%

---

*	The figures may not add up due to rounding.