KEPCO Posts 23.59 Tln in Sales
- The final statement for 2004 shows a 24.4 percent surge in net profit

Korea Electric Power Corp. (KEPCO) chalked up 2,880.8 billion won in net profit for the whole of 2004, a 24.4 percent year-on-year surge.
KEPCO reported that its operating profit increased 160.3 billion won or 8.8 percent to 1,973.1 billion won. Operating revenue rose 5.4 percent or 1,202.4 percent to 23.59 trillion won in 2004 thanks to a rise in electricity sales, while operating expenses increased 5.1 percent to 1,042.1 billion won.
According to the final statement for the year 2004, released by KEPCO last February, equity income on investments declined 329.7 billion won over the previous year to 1,793.8 billion won. Income on foreign currency appreciation climbed by 800.2 billion won to 616.6 billion won last year due to the lower foreign exchange rate.
The debt ratio dropped down 3.7 percent from a year earlier to 46.3 percent at the end of 2004. Assets increased 2,447.6 billion won to 58,917.3 billion won, while debts declined 186.6 billion won to 18,640.4 billion won and capital rose 2,634.2 billion won to 40,276.9 billion won.

KEPCO's electricity supply to
North for 1st time since division of Korean Peninsula
KEPCO began to supply electricity to the Gaeseong Industrial Complex in North Korea on March 16 for the first time since the division of the Korean Peninsula.
Korea's largest utility company launched electricity to Shinwon, GJ-GA and Gaeseong Industrial Zone Management Committee.
South Korean tenant companies of the industrial complex suffer difficulties on electricity supply stemming from the complex's own generators. With KEPCO's stable electricity supply to North Korea, the operation of the companies operating in the North Korean complex is now going into full swing.
KEPCO has already agreed with North Korea to implement all the projects related to electricity supply to the North ranging from design to operation as part of inter-Korean economic cooperation projects.
The utility company will supply 22,900-voltage distribution line to the exemplary project of the Gaeseong Industrial Complex and by 2007 when the first-phase 1 million-pyeong development project is completed, KEPCO will supply 154,000 voltage transmission lines.
The agreement came last Dec. 3 after KEPCO held negotiations with North Korean representatives during the period between last April and last December.
Prior to the electricity supply to North Korea, KEPCO had already completed a project on laying the 15 km-long southern section of the distribution electric line last Sept. 30 in the case of a possible delay in negotiations between the two sides. North Korea completed a project on constructing the electric distribution line on the North Korean section last March 4 after it broke ground last Jan. 26, and test-operated it.
The electricity supply to the North was launched later than planned duet to internal formality related to ultra-high voltage power supply.
KEPCO is now holding negotiations with the Gyeonggi Provincial Government, Paju Municipal Government and military authorities on the 154kV power transmission line necessary for supplying the first phase of the Gaeseong Industrial Complex.
KEPCO's electricity supply is historic since South Korea's electricity flew over the Demilitarized Zone for the first time since the division of the Korean Peninsula. nw