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Korea Electric Power Corporation (KEPCO)South Korea
Sectors: energy plants - coal, energy plants - nuclear, mining - coal, nuclear industry
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Created before Nov 2016
Last update: 2018-08-20 17:10:36

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Why this profile?

KEPCO, apart from its exisiting operating coal power plants, is planning to extend its coal power generation capacity. This is completely at odds with the Paris Agreement climate goal which calls for a maximum on global temperature rises to below 1.5C.

KEPCO offices in Hadong, South Korea. Photo: hyolee2 via Wikimedia Commons (CC BY-SA 3.0)

About Korea Electric Power Corporation (KEPCO)

KEPCO (Korea Electric Power Corporation), founded in 1898, is the largest electric utility in South Korea, responsible for 93% of South Korea's electricity generation. Together with its affiliates and subsidiaries, KEPCO has an installed capacity of 65,383 MW, including coal power plants, nuclear power plants and hydroelectric plants. KEPCO owns or co-owns several power generating (including coal) operations overseas, including in Mexico, the Philippines, Saudi Arabia and Jordan. It is planning to expand its operations in South Korea, Botswana, China, Japan, Vietnam, Swaziland, South Africa and Russia. KEPCO has 27.327 MW of installed coal power capacity which equals to 39% of its total power production. It is part of a group of 31 companies which are responsible for half the world's installed coal power capacity of 983,000MW.

Headquarters
55 Jeollyeok-ro, Naja si, Jeollanam-do
58322 Naju
South Korea
CEO/chair Kim Jong-kap
CEO
Website http://cyber.kepco.co.kr/kepco/EN/main.do
Ownership
listed on Korea Exchange & NYSE Euronext

As of December 2017 the Korean government holds 18.2% of KEPCO shares and the Korea Development Bank holds 32.9%. KEPCO's shareholder structure can be viewed here.

Subsidiaries

Headquarters location

Issues

Social issues

In general air emissions from coal-fired power plants cause serious human health impacts. Coal-fired power plants emit 84 of the 187 hazardous air pollutants identified by the U.S. Environmental Protection Agency. Several of these pollutants cause cancer, according to the National Toxicology Program. Hazardous air pollutants released by coal-fired power plants can cause a wide range of health effects, including heart and lung diseases. Exposure to these pollutants can damage the brain, eyes, skin, and breathing passages. It can affect the kidneys, lungs, and nervous and respiratory systems. Exposure can also affect learning, memory, and behavior.

Greenpeace reported on health issues attributed to coal use In the Philippines (one of the countries in which KEPCO is active) and concluded that existing coal power plants and projected coal capacity are estimated to be responsible for 960 premature deaths each year due to stroke, ischemic heart disease and other cardiovascular and respiratory diseases.

 

Environmental issues

In general these type of emissions result from coal power plants:

  • Sulfur dioxide (SO2), which contributes to acid rain and respiratory illnesses
  • Nitrogen oxides (NOx), which contribute to smog and respiratory illnesses
  • Particulates, which contribute to smog, haze, and respiratory illnesses and lung disease
  • Carbon dioxide (CO2), which is the primary greenhouse gas produced from the burning of fossil fuels (coal, oil, and natural gas)
  • Mercury and other heavy metals, which have been linked to both neurological and developmental damage in humans and other animals
  • Fly ash and bottom ash, which are residues created when coal is burned at power plants.

Considering KEPCO's 27.327 of installed coal power capacity and the effects of emiting CO2 into the earth's atmosphere these power plants have, KEPCO is responsible for having major adverse impacts on the environment and climate change.

Governance

Applicable norms and standards

Carbon Disclosure Project
Global Reporting Initiative
United Nations Global Compact

Financiers

KEPCO'S major shareholder is the Korea Development Bank which holds 32.9% of KEPCO's shares. Between 2014 and 2017 38 financial institutions have provided a total of USD 11.344 billion in loans and a total of USD 11.626 billion in underwriting services. Below are listed the banks and other FIs involved.

banks

ANZ Australia profile
banks
Debt – corporate loan
EUR 35 million
2005 - 2013
source: Banks and Coal Spreadsheet, Profundo, 2014
BNP Paribas France profile
banks
Share issue – underwriter
USD 171 million
2014 - 2017
Share and bond issuance combined
source: Coal Developers Report 2017
link
Bond issue – underwriter
EUR 5.1 million
source: Thomson ONE database.
Bank of America United States profile
banks
Share issue – underwriter
USD 171 million
2014 - 2017
Share and bond issuance combined
source: Coal Developers Report 2017
link
Uncategorised
EUR 26.4 million
2005 - 2013
shares/bonds underwriter or manager
source: Banks and Coal Spreadsheet, Profundo, 2014
Bond issue – underwriter
EUR 5.1 million
source: Thomson ONE database.
Bank of Tokyo Mitsubishi UFJ Japan profile
banks
Debt – corporate loan
USD 16 million
2014 - 2017
source: Coal Developers Report 2017
link
Equity – share owner/manager
EUR 117.8 million
source: Annual Report 2009, Kansai Electric Power Company.
Barclays United Kingdom profile
banks
Share issue – underwriter
USD 171 million
2014 - 2017
Share and bond issuance combined
source: Coal Developers Report 2017
link
Uncategorised
EUR 51.3 million
2005 - 2013
shares/bonds underwriter or manager
source: Banks and Coal Spreadsheet, Profundo, 2014
Citigroup United States profile
banks
Share issue – underwriter
USD 675 million
2014 - 2017
Share and bond issuance combined
source: Coal Developers Report 2017
link
Uncategorised
EUR 31.6 million
2005 - 2013
shares/bonds underwriter or manager
source: Banks and Coal Spreadsheet, Profundo, 2014
Credit Suisse Group Switzerland profile
banks
Share issue – underwriter
USD 71 million
2014 - 2017
Share and bond issuance combined
source: Coal Developers Report 2017
link
Uncategorised
EUR 132.7 million
2005 - 2013
shares/bonds underwriter or manager
source: Banks and Coal Spreadsheet, Profundo, 2014
Crédit Agricole France profile
banks
Share issue – underwriter
USD 742 million
2014 - 2017
Share and bond issuance combined
source: Coal Developers Report 2017
link
Debt – corporate loan
EUR 95.7 million
2005 - 2013
source: Banks and Coal Spreadsheet, Profundo, 2014
Deutsche Bank Germany profile
banks
Share issue – underwriter
USD 100 million
2014 - 2017
Share and bond issuance combined
source: Coal Developers report 2017
link
Uncategorised
EUR 93.2 million
2005 - 2013
shares/bonds underwriter or manager
source: Banks and Coal Spreadsheet, Profundo, 2014
Goldman Sachs United States profile
banks
Uncategorised
EUR 46.5 million
2005 - 2013
shares/bonds underwriter or manager
source: Banks and Coal Spreadsheet, Profundo, 2014
Bond issue – underwriter
EUR 5.1 million
source: Thomson ONE database.
HSBC United Kingdom profile
banks
Share issue – underwriter
USD 171 million
2014 - 2017
Share and bond issuance combined
source: Coal Developers Report 2017
link
Uncategorised
EUR 45.2 million
2005 - 2013
shares/bonds underwriter or manager
source: Banks and Coal Spreadsheet, Profundo, 2014
ING Group Netherlands profile
banks
Debt – corporate loan
USD 12 million
2014 - 2017
source: Coal Developers Report 2017
link
JPMorgan Chase United States profile
banks
Share issue – underwriter
USD 504 million
2014 - 2017
Share and bond issuance combined
source: Coal Developers Report 2017
link
Uncategorised
EUR 81.9 million
2005 - 2013
shares/bonds underwriter or manager
source: Banks and Coal Spreadsheet, Profundo, 2014
Kookmin Bank
banks
Share issue – underwriter
USD 2.065 billion
2014 - 2017
Share and bond issuance combined
source: Coal Developers Report 2017
link
Korea Development Bank South Korea profile
banks
Equity – share owner/manager
Korea Development Bank holds 32.9% of KEPCO'S shares
source: KEPCO 2017 consolidated financial statements
link
Macquarie bank Australia profile
banks
Share issue – underwriter
USD 197 million
2014 - 2017
Share and bond issuance combined
source: Coal Developers Report 2017
link
Mizuho Japan profile
banks
Debt – corporate loan
USD 16 million
2014 - 2017
source: Coal Developers report 2017
link
Debt – corporate loan
EUR 121.9 million
2005 - 2013
source: Banks and Coal Spreadsheet, Profundo, 2014
Bond issue – underwriter
EUR 10.3 million
source: Thomson ONE database.
Equity – share owner/manager
EUR 185.6 million
source: Annual Report 2009, Kansai Electric Power Company.
Morgan Stanley United States profile
banks
Share issue – underwriter
USD 100 million
2014 - 2017
Share and bond issuance combined
source: Coal Developers Report 2017
link
Uncategorised
EUR 51.5 million
2005 - 2013
shares/bonds underwriter or manager
source: Banks and Coal Spreadsheet, Profundo, 2014
Niko Bank Netherlands profile
banks
Bond issue – underwriter
EUR 5.1 million
source: Thomson ONE database.
Bond owner/manager
EUR 5.1 million
source: Bloomberg database.
Nomura
banks
Share issue – underwriter
USD 100 million
2014 - 2017
Share and bond issuance combined
source: Coal Developers Report 2017
link
Bond issue – underwriter
EUR 24 million
source: Thomson ONE database.
Royal Bank of Scotland Group (RBS) United Kingdom profile
banks
Uncategorised
EUR 76 million
2005 - 2013
shares/bonds underwriter or manager
source: Banks and Coal Spreadsheet, Profundo, 2014
Scotia Bank Canada profile
banks
Uncategorised
EUR 13.4 million
2005 - 2013
shares/bonds underwriter or manager
source: Banks and Coal Spreadsheet, Profundo, 2014
Standard Chartered United Kingdom profile
banks
Share issue – underwriter
USD 200 million
2014 - 2017
Share and bond issuance combined
source: Coal Developers report 2017
link
Sumitomo Mitsui Banking Corporation Japan profile
banks
Debt – corporate loan
USD 16 million
2014 - 2017
source: Coal Developers Report 2017
link
Debt – corporate loan
EUR 113.1 million
2005 - 2013
source: Banks and Coal Spreadsheet, Profundo, 2014
Equity – share owner/manager
EUR 139.2 million
source: Annual Report 2009, Kansai Electric Power Company.
UBS Switzerland profile
banks
Share issue – underwriter
USD 271 million
2014 - 2017
Share and bond issuance combined
source: Coal Developers Report 2017
link
Uncategorised
EUR 24.4 million
2005 - 2013
shares/bonds underwriter or manager
source: Banks and Coal Spreadsheet, Profundo, 2014
Bond owner/manager
EUR 4.8 million
source: Bloomberg database.

investment funds

Daiwa Securities Group Inc.
investment funds
Share issue – underwriter
USD 50 million
2014 - 2017
Share and bond issuance combined
source: Coal Developers Report 2017
link

Related projects

Projects

Active

Thabametsi coal power plant South Africa

energy plants - coal
Active

Nghi Son 2 coal power plant Vietnam

energy plants - coal
There are no projects active for Korea Electric Power Corporation (KEPCO) now.

News

| |
Type:
Year:
blog
external news
our news

Nedbank withdraws funding for new coal IPPs

2019-01-29 | EE Publishers
blog
external news
our news

It's time for impact divesting: the Global Coal Exit List for the finance industry is launched

2017-11-09 | Heffa Schücking - urgewald
blog
external news
our news

New database reveals world’s biggest coal plant developers

120 companies paving the road towards climate chaos
2017-06-29 | Berlin | urgewald
blog
external news
our news

Company in focus: Kepco struggles to go green

2017-06-01 | Nikkei
blog
external news
our news

Japanese and Singaporean banks step in to finance Indonesian coal plant in face of opposition from communities and environmentalists

After French banks ditch project, BankTrack, Friends of the Earth Japan and 350.org Japan strongly criticise all banks involved
2017-02-28 | Tokyo, Japan and Nijmegen, Netherlands | BankTrack, Friends of the Earth Japan
blog
external news
our news

Deutsche Bank puts first restrictions on coal finance, but still has long way to go

2017-01-31 | Frankfurt | BankTrack, urgewald

Documents

| | | | | | | | | | | |
Type:
Year:
annual reports
2017-09-30 00:00:00

Sustainability report 2017

2017-09-30 00:00:00 | KEPCO
annual reports
2018-03-31 00:00:00

Consolidated financial statements FY 2017

2018-03-31 00:00:00 | KEPCO
annual reports
2018-03-31 00:00:00

Annual report 2017

2018-03-31 00:00:00 | KEPCO
our publications
2017-05-23 00:00:00

BNP Paribas Fossil Bank Briefing 2017

French version
2017-05-23 00:00:00 | BankTrack, Les Amis de la Terre
our publications
2017-04-28 00:00:00

Credit Suisse Fossil Bank Briefing 2017

2017-04-28 00:00:00 | BankTrack and Greenpeace
annual reportsprivate
2014-01-01 00:00:00

Kepco 2013 Annual Report

2014-01-01 00:00:00 | KEPCO
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