XML 118 R103.htm IDEA: XBRL DOCUMENT v3.8.0.1

Risk Management (Tables)

12 Months Ended

Dec. 31, 2017

Risk Management [Abstract]

Capital risk management

Details of the Company’s capital management accounts as of December 31, 2016 and 2017 are as follows:

						2016				2017
						In millions of won
Total borrowings and debt securities		￦					53,639,205				54,747,392
Cash and cash equivalents							3,051,353				2,369,739
Net borrowings and debt securities							50,587,852				52,377,653
Total shareholder’s equity							73,050,545				72,964,641
Debt to equity ratio							69.25	%			71.78	%

Credit risk management

Book values of the financial assets represent the maximum exposed amounts of the credit risk. Details of the Company’s level of maximum exposure to credit risk as of December 31, 2016 and 2017 are as follows:

						2016				2017
						In millions of won
Cash and cash equivalents		￦					3,051,353				2,369,739
Derivative assets (trading)							367,477				22,020
Available-for-sale financial assets							1,014,732				699,833
Held-to-maturity investments							3,244				3,144
Loans and receivables							834,207				905,641
Long-term/short-term financial instruments							2,695,926				2,244,514
Financial assets at fair value through profit or loss							—				111,512
Derivative assets (using hedge accounting)							413,897				10,606
Trade and other receivables							9,692,391				9,683,769
Financial guarantee contracts(*)							1,396,152				1,154,862

(*) Maximum exposure associated with the financial guarantee contracts is the maximum amounts of the obligation.

Sensitivity analysis of Defined benefit obligation

A sensitivity analysis of defined benefit obligation assuming a 1% increase and decrease movements in the actuarial valuation assumptions as of December 31, 2016 and 2017 are as follows:

								2016								2017
Type		Accounts						1% Increase				1% Decrease				1% Increase				1% Decrease
		In millions of won
Future salary increases		Increase (decrease) in defined benefit obligation		￦					344,874				(304,685	)			354,852				(305,494	)
Discount rate		Increase (decrease) in defined benefit obligation							(305,031	)			371,689				(313,597	)			377,148

Changes in provisions due to movements in underlying assumptions

Changes in provisions due to movements in underlying assumptions as of December 31, 2016 and 2017 are as follows:

Type		Accounts		2016				2017
PCBs		Inflation rate			1.29	%			1.23	%
		Discount rate			2.77	%			2.55	%
Nuclear plants		Inflation rate			1.40	%			1.21	%
		Discount rate			3.55	%			2.94	%
Spent fuel		Inflation rate			2.93	%			2.93	%
		Discount rate			4.49	%			4.49	%

Sensitivity analysis of Provisions due to movements in underlying assumptions

A sensitivity analysis of provisions assuming a 0.1% increase and decrease movements in the underlying assumptions as of December 31, 2016 and 2017 are as follows:

								2016								2017
Type		Accounts						0.1% Increase				0.1% Decrease				0.1% Increase				0.1% Decrease
		In millions of won
Discount rate		PCBs		￦					(817	)			822				(811	)			816
		Nuclear plants							(209,277	)			215,139				(262,949	)			270,370
		Spent fuel							(52,353	)			54,387				(51,015	)			52,997
Inflation rate		PCBs							834				(830	)			826				(822	)
		Nuclear plants							240,115				(233,553	)			287,926				(280,249	)
		Spent fuel							55,173				(53,182	)			53,763				(51,823	)

Foreign currency risk

The Company undertakes transactions denominated in foreign currencies; consequently, exposures to exchange rate fluctuations arise. The carrying amounts of the Company’s foreign currency denominated monetary assets and monetary liabilities as of December 31, 2016 and 2017 are as follows:

		Assets								Liabilities
Type		2016				2017				2016				2017
		In thousands of foreign currencies
AED			7,479				5,693				1,534				2,049
AUD			187				145				632,613				652,259
BDT			49,110				60,208				833				1,001
BWP			4,296				797				3,222				—
CAD			—				82				—				171
CHF			—				—				400,308				400,004
CNY			—				13,007				—				26,140
EUR			17,585				5,708				14,111				68,003
GBP			3				3				110				2,327
IDR			52,568				167,775				—				—
INR			1,059,092				1,228,259				161,631				227,078
JOD			1,746				1,624				5				5
JPY			520,746				799,501				20,442,504				21,624,128
KZT			12,157				359				—				—
MGA			3,408,579				2,762,572				150,430				319,581
NOK			—				—				—				482
PHP			415,818				189,261				136,700				125,431
PKR			274,090				251,190				5,051				4,676
SAR			1,149				1,191				—				44
SEK			—				—				—				449,002
USD			1,319,524				1,653,858				9,445,567				8,321,335
UYU			1,307				12,955				586				10,586
ZAR			386				361				75				4

Sensitivity analysis of Foreign currency risk

A sensitivity analysis on the Company’s income for the period assuming a 10% increase and decrease in currency exchange rates as of December 31, 2016 and 2017 are as follows:

						2016								2017
Type						10% Increase				10% Decrease				10% Increase				10% Decrease
						In millions of won
Increase (decrease) of income before income tax		￦					(1,101,372	)			1,101,372				(844,122	)			844,122
Increase (decrease) of shareholder’s equity(*)							(1,101,372	)			1,101,372				(844,122	)			844,122

(*) The effect on the shareholders’ equity excluding the impact of income taxes.

Interest rate risk

The Company’s borrowings and debt securities with floating interest rates as of December 31, 2016 and 2017 are as follows:

Type						2016				2017
						In millions of won
Short-term borrowings		￦					289,322				290,873
Long-term borrowings							1,459,969				1,743,252
Debt securities							1,518,500				685,700
		￦					3,267,791				2,719,825

Sensitivity analysis of Interest rate risk

A sensitivity analysis on the Company’s long-term borrowings and debt securities assuming a 1% increase and decrease in interest rates, without consideration of hedge effect of related derivatives for the years ended December 31, 2016 and 2017 are as follows:

						2016								2017
Type						1% Increase				1% Decrease				1% Increase				1% Decrease
						In millions of won
Increase (decrease) of profit before income tax		￦					(32,678	)			32,678				(27,198	)			27,198
Increase (decrease) of shareholder’s equity(*)							(32,678	)			32,678				(27,198	)			27,198

(*) The effect on the shareholders’ equity excluding the impact of income taxes.

Electricity rates risk

A sensitivity analysis on the Company’s income for the period assuming a 1% increase and decrease in price of electricity for the years ended December 31, 2016 and 2017 are as follows:

						2016								2017
Type						1% Increase				1% Decrease				1% Increase				1% Decrease
						In millions of won
Increase (decrease) of profit before income tax		￦					543,045				(543,045	)			546,499				(546,499	)
Increase (decrease) of shareholder’s equity(*)							543,045				(543,045	)			546,499				(546,499	)

(*) The effect on the shareholders’ equity excluding the impact of income taxes.

Details of maturities of non-derivative financial liabilities

The following table shows the details of maturities of non-derivative financial liabilities as of December 31, 2016 and 2017. This table, based on the undiscounted cash flows of the non-derivative financial liabilities, has been completed based on the respective liabilities’ earliest maturity date.

						2016
Type						Less than 1 year				1~2 Years				2~5 Years				More than 5 years				Total
						In millions of won
Borrowings and debt securities		￦					10,613,185				9,786,209				19,353,498				24,461,835				64,214,727
Finance lease liabilities							175,512				174,534				229,495				152,247				731,788
Trade and other payables							5,464,234				307,222				660,426				2,170,525				8,602,407
Financial guarantee contracts(*)							249,200				40,617				865,842				240,493				1,396,152
		￦					16,502,131				10,308,582				21,109,261				27,025,100				74,945,074

						2017
Type						Less than 1 year				1~2 Years				2~5 Years				More than 5 years				Total
						In millions of won
Borrowings and debt securities		￦					10,748,437				7,948,320				21,331,394				22,694,867				62,723,018
Finance lease liabilities							174,534				87,709				185,284				108,749				556,276
Trade and other payables							5,867,729				301,165				698,289				1,937,558				8,804,741
Financial guarantee contracts(*)							7,081				18,054				1,049,667				80,060				1,154,862
		￦					16,797,781				8,355,248				23,264,634				24,821,234				73,238,897

(*) This represents the total guarantee amounts associated with the financial guarantee contracts. Financial guarantee liabilities which are recognized as of December 31, 2016 and 2017 are ￦29,665 million and ￦23,475 million, respectively.

The expected maturities for non-derivative financial assets

The expected maturities for non-derivative financial assets as of December 31, 2016 and 2017 in detail are as follows:

						2016
Type						Less than 1 year				1~5 Years				More than 5 years				Other(*)				Total
						In millions of won
Cash and cash equivalents		￦					3,051,353				—				—				—				3,051,353
Available-for-sale financial assets							—				—				—				1,014,732				1,014,732
Held-to-maturity investments							114				3,126				4				—				3,244
Loans and receivables							198,133				233,564				439,666				5,591				876,954
Long-term/short-term financial instruments							2,281,460				200,001				214,122				343				2,695,926
Trade and other receivables							7,790,953				915,679				919,901				74,199				9,700,732
		￦					13,322,013				1,352,370				1,573,693				1,094,865				17,342,941

						2017
Type						Less than 1 year				1~5 Years				More than 5 years				Other(*)				Total
						In millions of won
Cash and cash equivalents		￦					2,369,739				—				—				—				2,369,739
Available-for-sale financial assets							—				—				214,156				485,677				699,833
Held-to-maturity investments							5				3,139				—				—				3,144
Loans and receivables							244,309				261,672				429,628				10,821				946,430
Long-term/short-term financial instruments							1,702,084				201,821				340,304				305				2,244,514
Financial assets at fair value through profit or loss							—				—				111,512				—				111,512
Trade and other receivables							7,930,715				920,539				788,795				52,031				9,692,080
		￦					12,246,852				1,387,171				1,884,395				548,834				16,067,252

(*) The maturities cannot be presently determined.

Derivative liabilities classified by maturity periods which from reporting date to maturity date of contract

Derivative liabilities classified by maturity periods which from reporting date to maturity date of contract as of December 31, 2016 and 2017 are as follows:

						2016
Type						Less than 1 year				1~2 Years				2~5 Years				More than 5 years				Total
						In millions of won
Gross settlement
—Trading		￦					(3,081	)			(24,044	)			—				(2,799	)			(29,924	)
—Hedging							(2,645	)			(2,645	)			(56,484	)			(56,575	)			(118,349	)
		￦					(5,726	)			(26,689	)			(56,484	)			(59,374	)			(148,273	)

						2017
Type						Less than 1 year				1~2 Years				2~5 Years				More than 5 years				Total
						In millions of won
Net settlement
—Trading		￦					(774	)			—				—				—				(774	)
Gross settlement
—Trading							(51,496	)			(19,887	)			(16,597	)			(4,967	)			(92,947	)
—Hedging							(17,547	)			(28,977	)			(192,205	)			(44,137	)			(282,866	)
		￦					(69,817	)			(48,864	)			(208,802	)			(49,104	)			(376,587	)

Fair value and book value of financial assets and liabilities

Fair value and book value of financial assets and liabilities as of December 31, 2016 and 2017 are as follows:

						2016								2017
Type						Book value				Fair value				Book value				Fair value
						In millions of won
Assets recognized at fair value
Available-for-sale financial assets(*1)		￦					1,014,732				1,014,732				699,833				699,833
Derivative assets (trading)							367,477				367,477				22,020				22,020
Derivative assets (using hedge accounting)							413,897				413,897				10,606				10,606
Long-term financial instruments							414,466				414,466				542,430				542,430
Short-term financial instruments							2,281,460				2,281,460				1,702,084				1,702,084
Financial assets at fair value through profit or loss							—				—				111,512				111,512
							4,492,032				4,492,032				3,088,485				3,088,485
Assets carried at amortized cost
Held-to-maturity investments							3,244				3,244				3,144				3,144
Loans and receivables							834,207				834,207				905,641				905,641
Trade and other receivables							9,692,391				9,692,391				9,683,769				9,683,769
Cash and cash equivalents							3,051,353				3,051,353				2,369,739				2,369,739
							13,581,195				13,581,195				12,962,293				12,962,293
Liabilities recognized at fair value
Derivative liabilities (trading)							21,529				21,529				150,929				150,929
Derivative liabilities (using hedge accounting)							117,157				117,157				277,130				277,130
							138,686				138,686				428,059				428,059
Liabilities carried at amortized cost
Secured borrowings							744,565				744,565				1,055,554				1,055,554
Unsecured bond							50,749,793				54,455,659				51,146,783				53,436,659
Finance lease liabilities							541,179				541,179				418,260				418,260
Unsecured borrowings							2,089,885				2,099,574				2,476,196				2,477,055
Trade and other payables(*2)							8,602,407				8,602,407				8,804,741				8,804,741
Bank overdraft							54,962				54,962				68,859				68,859
		￦					62,782,791				66,498,346				63,970,393				66,261,128

(*1) Book values of equity securities held by the Company that were measured at cost as of December 31, 2016 and 2017 are ￦138,557 million and ￦37,926 million, respectively, as a quoted market price does not exist in an active market and its fair value cannot be measured reliably.

(*2) Excludes finance lease liabilities.

Interest rates used for determining fair value

The discount rate used for calculating fair value as of December 31, 2016 and 2017 are as follows:

Type		2016				2017
Derivatives			0.02% ~ 4.16%				0.03% ~ 4.16%
Borrowings and debt securities			0.02% ~ 4.38%				0.08% ~ 4.38%
Finance lease			9.00% ~ 10.83%				9.00% ~ 10.83%

Fair value hierarchy

Fair values of financial instruments by hierarchy level as of December 31, 2016 and 2017 are as follows:

						2016
Type						Level 1				Level 2				Level 3				Total
						In millions of won
Financial assets at fair value
Available-for-sale financial assets		￦					268,171				437,015				269,461				974,647
Derivative assets							—				770,851				10,523				781,374
							268,171				1,207,866				279,984				1,756,021
Financial liabilities at fair value
Derivative liabilities							—				138,686				—				138,686

						2017
Type						Level 1				Level 2				Level 3				Total
						In millions of won
Financial assets at fair value
Available-for-sale financial assets		￦					274,453				214,156				173,298				661,907
Derivative assets							—				18,466				14,160				32,626
Financial assets at fair value through profit or loss							—				111,512				—				111,512
							274,453				344,134				187,458				806,045
Financial liabilities at fair value
Derivative liabilities							—				428,059				—				428,059

Changes of financial assets and liabilities which are classified as level 3

Changes of financial assets and liabilities which are classified as level 3 for the years ended December 31, 2016 and 2017 are as follows:

						2016
						Beginning balance				Acquisition				Reclassified category				Valuation				Disposal				Foreign currency translation				Ending balance
						In millions of won
Financial assets at fair value
Available-for-sale financial assets
Unlisted securities		￦					180,390				—				98,472				(9,401	)			—				—				269,461

						2017
						Beginning balance				Acquisition				Reclassified category				Valuation				Disposal				Foreign currency translation				Ending balance
						In millions of won
Financial assets at fair value
Available-for-sale financial assets
Unlisted securities		￦					269,461				—				(92,128	)			(6,201	)			—				2,166				173,298

X

- Definition

The disclosure of an analysis of the present value of a defined benefit obligation that distinguishes the nature, characteristics and risks of the obligation. Such a disclosure could distinguish: (a) between amounts owing to active members, deferred members, and pensioners; (b) between vested benefits and accrued but not vested benefits; and (c) between conditional benefits, amounts attributable to future salary increases and other benefits. [Refer: Defined benefit obligation, at present value]

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 19
-IssueDate 2017-01-01
-Paragraph 137
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=19&date=2017-03-01&anchor=para_137&doctype=Standard
-URIDate 2017-03-09

+ Details

Name:	ifrs-full_DisclosureOfAnalysisOfPresentValueOfDefinedBenefitObligationThatDistinguishesNatureCharacteristicsAndRisksExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure of credit risk. [Refer: Credit risk [member]]

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name IAS
-Number 1
-IssueDate 2017-01-01
-Paragraph 10
-Subparagraph e
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2017-03-01&anchor=para_10_e&doctype=Standard
-URIDate 2017-03-09

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Note Effective 2018-01-01
-Name IFRS
-Number 7
-IssueDate 2017-01-01
-Section Credit risk
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=7&date=2017-03-01&anchor=F36665437&doctype=Standard
-URIDate 2017-03-09

+ Details

Name:	ifrs-full_DisclosureOfCreditRiskExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for the effect of changes in foreign exchange rates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 21
-IssueDate 2017-01-01
-Section Disclosure
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=21&date=2017-03-01&anchor=sect_Disclosure&doctype=Standard
-URIDate 2017-03-09

+ Details

Name:	ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for fair value measurement.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 13
-IssueDate 2017-01-01
-Section Disclosure
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=13&date=2017-03-01&anchor=sect_Disclosure&doctype=Standard
-URIDate 2017-03-09

+ Details

Name:	ifrs-full_DisclosureOfFairValueMeasurementExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure of the fair value of financial instruments. [Refer: Financial instruments, class [member]; At fair value [member]]

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name IAS
-Number 1
-IssueDate 2017-01-01
-Paragraph 10
-Subparagraph e
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2017-03-01&anchor=para_10_e&doctype=Standard
-URIDate 2017-03-09

+ Details

Name:	ifrs-full_DisclosureOfFairValueOfFinancialInstrumentsExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure of a maturity analysis for derivative financial liabilities, including the remaining contractual maturities for those derivative financial liabilities for which contractual maturities are essential for an understanding of the timing of the cash flows. [Refer: Derivative financial liabilities]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 7
-IssueDate 2017-01-01
-Paragraph 39
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=7&date=2017-03-01&anchor=para_39_b&doctype=Standard
-URIDate 2017-03-09

+ Details

Name:	ifrs-full_MaturityAnalysisForDerivativeFinancialLiabilities
Namespace Prefix:	ifrs-full_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure of a maturity analysis for non-derivative financial liabilities (including issued financial guarantee contracts) that shows the remaining contractual maturities. [Refer: Derivative financial liabilities]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 7
-IssueDate 2017-01-01
-Paragraph 39
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=7&date=2017-03-01&anchor=para_39_a&doctype=Standard
-URIDate 2017-03-09

+ Details

Name:	ifrs-full_MaturityAnalysisForNonderivativeFinancialLiabilities
Namespace Prefix:	ifrs-full_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	kep_ChangesInProvisionsDueToMovementsInUnderlyingAssumptionsExplanatory
Namespace Prefix:	kep_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	kep_DisclosureOfCapitalRiskExplanatory
Namespace Prefix:	kep_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	kep_DisclosureOfChangesOfFinancialInstrumentsWhichAreClassifiedAsLevel3Explanatory
Namespace Prefix:	kep_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	kep_DisclosureOfFairValueHierarchyExplanatory
Namespace Prefix:	kep_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	kep_DisclosureOfRiskManagementAbstract
Namespace Prefix:	kep_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	kep_ElectricityRateRiskExplanatory
Namespace Prefix:	kep_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	kep_InterestRateRiskExplanatory
Namespace Prefix:	kep_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	kep_MaturityAnalysisForNonderivativeFinancialAssets
Namespace Prefix:	kep_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	kep_SensitivityAnalysisOfInterestRateRiskExplanatory
Namespace Prefix:	kep_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	kep_SensitivityAnalysisOfProvisionsDueToMovementsInUnderlyingAssumptionsExplanatory
Namespace Prefix:	kep_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for foreign currency transactions and translation. This may include description of foreign currency transactions, foreign currency gains and losses, explanation of change in cumulative translation adjustment, description of effect of subsequent foreign currency exchange rate change, cumulative translation adjustment movement, foreign currency translation adjustment by component movement, translation adjustment for net investment hedge movement, adjustment for long-term intercompany transactions, schedule of long-term intercompany balances and any other foreign currency transactions and translation related items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-URI http://asc.fasb.org/topic&trid=2175825

+ Details

Name:	us-gaap_ForeignCurrencyDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration