KEPCO likely to exceed W10tr operating profit for second year

[THE INVESTOR] The consolidated operating profit of Korea Electric Power Corp. could reach 11 trillion won (US$10.04 billion) this year, the company’s CEO revealed on Sept. 27.

Speaking at a parliamentary audit, KEPCO CEO Cho Hwan-eik said that this year’s consolidated operating profit is projected at between 10 trillion won and 11 trillion won.

He said that the fall in international oil prices and the cut in overseas operations costs contributed to the high operating profit projection. 

In addition, KEPCO’s monthly residential power sales broke the 1 trillion won mark for the first time in August, and the company’s overall electricity sales during the first seven months of the year rose 1.4 percent from a year ago.

If the projections are met, KEPCO will break the 10 trillion won operating profit mark for the second consecutive year. In 2015, KEPCO’s consolidated operating profits came to 11.35 trillion won, and it posted a net profit of 13.31 trillion won.

By Choi He-suk (cheesuk@heraldcorp.com)