KEP
UtilitiesKorea Electric Power Corporation · Regulated Electric · $17B
What is Korea Electric Power Corporation?
Korea Electric Power Corporation (KEP) is South Korea's dominant integrated electric utility, responsible for generating, transmitting, and distributing electricity across the country and select international markets. It is one of the largest utility operators in Asia by installed capacity.
KEPCO generates electricity from a diverse mix of sources — nuclear, coal, natural gas, hydro, wind, solar, and fuel cells — then delivers that power through an extensive transmission and distribution network spanning hundreds of thousands of circuit kilometers. The company serves residential, commercial, industrial, and agricultural customers. Beyond core power delivery, KEPCO offers utility plant maintenance, electric metering, IT services, and communications infrastructure leasing, making it a vertically integrated energy enterprise.
Established in 1994 and headquartered in Naju-Si, South Korea, KEPCO operates as the backbone of the nation's power infrastructure.
- Nuclear and thermal power generation across hundreds of units
- High-voltage transmission network with nationwide substations
- Residential and industrial electricity distribution
- Utility maintenance and facility management services
- Electric power IT and communications line leasing
Is KEP a Good Stock to Buy?
UQS Score rates KEP as Good overall, reflecting a mixed but broadly stable profile for a large-cap utility.
Valuation stands out as the most favorable pillar, rated Attractive — suggesting the market may not be fully pricing in KEPCO's scale and infrastructure dominance. The company's near-monopoly position in South Korea's power grid underpins its Moat and Quality ratings, both assessed as Neutral, which is respectable given the regulatory and cost pressures typical of state-linked utilities.
The Risk pillar is rated Weak, reflecting meaningful exposure to fuel-cost volatility, regulatory pricing constraints, and elevated debt levels common in capital-intensive utility models.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does KEP pay dividends?
Yes — Korea Electric Power Corporation pays a dividend.
KEPCO pays a regular dividend, consistent with its role as a large state-affiliated utility serving a broad customer base. Dividend levels can fluctuate with the company's earnings cycle, which is heavily influenced by fuel costs and regulated tariff structures. Income-focused investors should review the latest payout details on KEPCO's investor relations page before drawing conclusions about yield sustainability.
When does KEP report earnings?
Korea Electric Power Corporation reports earnings on a quarterly cadence, consistent with standard practice for internationally listed equities.
KEPCO's financial results tend to be sensitive to global fuel prices and domestic electricity tariff adjustments set by South Korean regulators. Periods of elevated energy costs can compress margins significantly, while tariff revisions can provide relief. Investors should track both fuel market trends and Korean energy policy alongside quarterly results.
For the most recent quarter's results and guidance, visit Korea Electric Power Corporation's official investor relations page.
KEP Price History
+38.8% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Korea Electric Power Corporation?
Based on Korea Electric Power Corporation's historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
KEP Long-term Outlook
KEPCO's Growth pillar is rated Neutral, reflecting a utility operating in a mature, regulated market where dramatic revenue expansion is structurally limited. The Attractive Valuation rating suggests potential upside if regulatory conditions improve or fuel costs normalize. However, the Weak Risk rating signals that near-term headwinds — including debt servicing and tariff uncertainty — could weigh on the fundamental outlook.
Growth drivers
- Expansion of renewable energy capacity including wind and solar
- International power project development in emerging markets
- Domestic tariff normalization as South Korea adjusts energy pricing policy
Key risks
- Elevated debt load from capital-intensive infrastructure investment
- Regulatory caps on electricity tariffs limiting revenue recovery
- Exposure to global fuel price swings affecting generation costs
KEP vs Peers
KEPCO operates in a different regulatory environment than most Western peers, but several international utilities offer useful points of comparison for global investors.
A major US regulated utility with a diversified generation mix, operating under a different but similarly rate-regulated framework in the American Southeast.
A North American utility with a notable renewable energy focus, offering a contrast to KEPCO's heavier reliance on nuclear and thermal generation.
A Midwest US utility undergoing a clean energy transition, sharing KEPCO's challenge of balancing legacy infrastructure with decarbonization goals.
Frequently Asked Questions
What does Korea Electric Power Corporation do?
KEPCO is South Korea's primary integrated electric utility. It generates electricity from nuclear, thermal, renewable, and other sources, then transmits and distributes that power to residential, commercial, industrial, and agricultural customers nationwide. The company also provides maintenance, IT, and communications services related to power infrastructure.
Does KEP pay dividends?
Yes, KEPCO pays a regular dividend. As a large state-affiliated utility, it has historically returned capital to shareholders through dividends, though payout levels can vary with earnings performance. Investors should check the company's investor relations page for the latest declared amounts and payment schedules.
When does KEP report earnings?
KEPCO reports on a quarterly cadence. Exact dates vary each cycle and are announced in advance on the company's investor relations page. Results are closely watched for signals on fuel cost trends and any changes to South Korea's regulated electricity tariff structure.
Is KEP a good stock to buy?
UQS Score rates KEP as Good overall. The Valuation pillar is rated Attractive, which may interest value-oriented investors. However, the Risk pillar is rated Weak, reflecting real structural challenges. Whether KEP fits your portfolio depends on your risk tolerance and investment goals — the full UQS pillar breakdown is available to Pro members.
Is KEP overvalued?
Based on the UQS framework, KEP's Valuation pillar is rated Attractive, suggesting the stock is not considered overvalued relative to its fundamentals at the time of scoring. Utility valuations can shift quickly with interest rate changes and earnings revisions, so ongoing monitoring is advisable.
How does KEP compare to its competitors?
KEPCO is unique among global utilities due to its near-monopoly position in South Korea's power grid and its heavy nuclear generation base. Western peers like Evergy and Southern Company operate in more competitive or deregulated environments. KEPCO's scale is substantial, though its risk profile differs from North American counterparts given regulatory and debt dynamics.
What is KEP's market cap bracket?
KEP is classified as a large-cap stock, reflecting KEPCO's status as one of the largest utility companies in Asia by installed generation capacity and infrastructure scale.
Who founded Korea Electric Power Corporation?
KEPCO was established in 1994 as a reorganization and consolidation of South Korea's state power entities. Its origins trace back to earlier government-run electricity bodies. Detailed founding history is available through KEPCO's official corporate publications and public records.
Is KEP a long-term quality investment?
As a long-term quality indicator, UQS rates KEP as Good. Its infrastructure dominance and Attractive Valuation are positives for patient investors. The Weak Risk rating — driven by debt and regulatory exposure — is the key factor to weigh over a longer horizon. Pro members can access the complete pillar-level analysis to assess long-term fit.
What is the main competitive advantage of Korea Electric Power Corporation?
KEPCO's primary advantage is its entrenched position as South Korea's sole nationwide electricity transmission and distribution operator. This near-monopoly status, backed by government affiliation, creates high barriers to entry. The company's diversified generation mix — spanning nuclear, thermal, and renewables — also provides operational resilience across different energy market conditions.
What sector does KEP belong to?
KEP belongs to the Utilities sector. As an integrated electric utility, it sits within the regulated electric power segment — a sector characterized by stable demand, capital intensity, and significant government oversight. Investors can explore other [top-rated utility stocks](/sector/utilities) on UQS Score for sector-level comparisons.
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Pro Analysis
KEP — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 22, 2026 | 51.8 | 58.9 | 58.0 | 39.8 | 4.1 | 93.1 | -1.3 |
| May 7, 2026 | 53.1 | 59.7 | 58.0 | 45.8 | 3.9 | 93.0 | +0.2 |
| Apr 26, 2026 | 52.9 | 59.7 | 58.0 | 45.8 | 3.9 | 91.6 | -1.0 |
| Apr 22, 2026 | 53.9 | 59.7 | 58.0 | 49.9 | 3.9 | 93.0 | -0.5 |
| Apr 19, 2026 | 54.4 | 59.7 | 58.0 | 52.4 | 3.9 | 93.0 | -0.2 |
| Apr 18, 2026 | 54.6 | 59.7 | 58.0 | 52.4 | 3.9 | 93.9 | -0.9 |
| Apr 16, 2026 | 55.5 | 59.7 | 58.0 | 52.5 | 3.9 | 100.0 | 0.0 |
| Apr 15, 2026 | 55.5 | 59.7 | 58.0 | 52.7 | 3.9 | 100.0 | -0.3 |
| Apr 14, 2026 | 55.8 | 59.7 | 58.0 | 53.9 | 3.9 | 100.0 | 0.0 |
| Apr 11, 2026 | 55.8 | 59.7 | 58.0 | 54.1 | 3.9 | 100.0 | -0.5 |
KEP — Pillar Breakdown
Quality
— 58.9/100 (25%)Korea Electric Power Corporation shows solid profitability with healthy returns on capital and reasonable margins.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 39.8/100 (20%)Korea Electric Power Corporation shows steady but unspectacular growth, typical for mature companies.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 4.1/100 (15%)Korea Electric Power Corporation presents elevated risk with concerns around leverage or financial stability.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 93.1/100 (15%)Korea Electric Power Corporation appears attractively valued relative to its earnings, cash flows, and sector peers.
How many years of FCF the market cap represents.
Enterprise value multiple relative to sector median.
Moat
— 58/100 (25%)Korea Electric Power Corporation has meaningful competitive advantages that should protect its market position. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for KEP.
Score Composition
Financial Data
More Stock Analysis
How is the KEP UQS Score Calculated?
The UQS (Unified Quality Score) for Korea Electric Power Corporation is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Korea Electric Power Corporation's competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Korea Electric Power Corporation is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.