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Related Parties

12 Months Ended

Dec. 31, 2017

Related Parties [Abstract]

Related Parties

47.

Related Parties

(1)

Related parties of the Company as of December 31, 2017 are as follows:


Type		Related party
Parent		Republic of Korea government

Subsidiaries (100 subsidiaries)		Korea Hydro & Nuclear Power Co., Ltd., Korea South-East Power Co., Ltd., Korea Midland Power Co., Ltd., Korea Western Power Co., Ltd., Korea Southern Power Co., Ltd., Korea East-West Power Co., Ltd., KEPCO Engineering & Construction Company, Inc., KEPCO Plant Service & Engineering Co., Ltd., KEPCO Nuclear Fuel Co., Ltd., KEPCO KDN Co., Ltd., Garolim Tidal Power Plant Co., Ltd., Gyeonggi Green Energy Co., Ltd., Korea Offshore Wind Power Co., Ltd., KOSEP Material Co., Ltd., KEPCO International HongKong Ltd., KEPCO International Philippines Inc., KEPCO Philippines Corporation, KEPCO Ilijan Corporation, KEPCO Gansu International Ltd., KEPCO Philippines Holdings Inc., KEPCO Lebanon SARL, KEPCO Neimenggu International Ltd., KEPCO Australia Pty., Ltd., KEPCO Shanxi International Ltd., KOMIPO Global Pte Ltd., KOSEP Australia Pty., Ltd., KOMIPO Australia Pty., Ltd., KOWEPO Australia Pty., Ltd., KOSPO Australia Pty., Ltd., KEPCO Canada Energy Ltd., KEPCO Netherlands B.V., KOREA Imouraren Uranium Investment Corp., KEPCO Middle East Holding Company, Qatrana Electric Power Company, Korea Electric Power Nigeria Ltd., KOWEPO International Corporation, KOSPO Jordan LLC, Korea Waterbury Uranium Limited Partnership, PT. Cirebon Power Service, EWP America Inc., KHNP Canada Energy, Ltd., KEPCO Bylong Australia Pty., Ltd., KNF Canada Energy Limited, KEPCO Holdings de Mexico, KST Electric Power
		Company, KEPCO Energy Service Company, KEPCO Netherlands S3 B.V., PT. KOMIPO Pembangkitan Jawa Bali, PT KEPCO Resource Indonesia, EWP (Barbados) 1 SRL, PT. Tanggamus Electric Power, KOMIPO America Inc, KOSEP USA, INC., PT. EWP Indonesia, KEPCO Netherlands J3 B.V., Global One Pioneer B.V., Global Energy Pioneer B.V., Mira Power Limited, EWP Philippines Corporation, KEPCO Singapore Holdings Pte., Ltd., KOWEPO India Private Limited, KEPCO KPS Philippines Corp., KOSPO Chile SpA, PT. KOWEPO Sumsel Operation And Maintenance Services, Commerce and Industry Energy Co., Ltd., Gyeongju Wind Power Co., Ltd., California Power Holdings, LLC, DG Fairhaven Power, LLC, DG Whitefield, LLC, EWP Renewable Corporation, EWPRC Biomass Holdings, LLC, Springfield Power, LLC, HeeMang Sunlight Power Co., Ltd., Fujeij Wind Power Company, KOSPO Youngnam Power Co., Ltd., HI Carbon Professional Private Special Asset Investment Trust 1 (formerly, Global One Carbon Private Equity Investment Trust 2), Chitose Solar Power Plant LLC., Solar School Plant Co., Ltd., KEPCO Energy Solution Co. Ltd., KOSPO Power Services Limitada, KOEN Bylong Pty., Ltd., KOWEPO Bylong Pty., Ltd., KOSPO Bylong Pty., Ltd., EWP Bylong Pty., Ltd., KOWEPO Lao International, KOMIPO Bylong Pty Ltd., Energy New Industry Specialized Investment Private Investment Trust., KEPCO US Inc., KEPCO Alamosa LLC, Cogentrix Solar Services, LLC, Solar Investments I, LLC, Cogentrix of Alamosa, LLC, KEPCO-LG CNS Mangilao Holdings LLC, Mangilao Investment LLC, KEPCO-LG CNS Mangilao Solar, LLC Jeju Hanlim Offshore Wind Co., Ltd., PT, Siborpa Eco Power, e-New Industry LB Fund 1, Songhyun e-New Industry Fund, BSK E-New Industry Fund VII

Associates (56 associates)		Dongducheon Dream Power Co., Ltd., Korea Gas Corporation, SE Green Energy Co., Ltd., Daegu Photovoltaic Co., Ltd., Jeongam Wind Power Co., Ltd., Korea Power Engineering Service Co., Ltd., Heang Bok Do Si Photovoltaic Power Co., Ltd., Korea Electric Power Industrial Development Co., Ltd., Goseong Green Energy Co., Ltd., Gangneung Eco Power Co., Ltd., Shin Pyeongtaek Power Co., Ltd., Naepo Green Energy Co., Ltd., Noeul Green Energy Co., Ltd., YTN Co., Ltd., Cheongna Energy Co., Ltd., Samcheok Eco Materials Co., Ltd., Gangwon Wind Power Co., Ltd., Gwangyang Green Energy Co., Ltd., Hyundai Green Power Co., Ltd., Korea Power Exchange, AMEC Partners Korea Ltd., Hyundai Energy Co., Ltd., Ecollite Co., Ltd., Taebaek Wind Power Co., Ltd., Taeback Guinemi Wind Power Co., Ltd., Pyeongchang Wind Power Co., Ltd., Daeryun Power Co., Ltd., Changjuk Wind Power Co., Ltd., KNH Solar Co., Ltd., S-Power Co., Ltd., Hadong Mineral Fiber Co., Ltd., Green Biomass Co., Ltd., SPC Power Corporation, Gemeng International Energy Co., Ltd., PT. Cirebon Electric Power, KNOC Nigerian East Oil Co., Ltd., KNOC Nigerian West Oil Co., Ltd., PT Wampu Electric Power, PT. Bayan Resources TBK, Nepal Water & Energy Development Company Private Limited, Pioneer Gas Power Limited, Eurasia Energy Holdings, Xe-Pian Xe-Namnoy Power Co., Ltd., PT. Mutiara Jawa, Jinbhuvish Power Generation Pvt. Ltd., Busan Green Energy Co., Ltd., Gunsan Bio Energy Co., Ltd. (formerly, Jungbu Bio Energy Co., Ltd.), Korea Electric Vehicle Charging Service, Ulleungdo Natural Energy Co., Ltd., Korea
		Nuclear Partners Co., Ltd., Tamra Offshore Wind Power Co., Ltd., Korea Electric Power Corporation Fund, Energy Infra Asset Management Co., Ltd., Daegu clean Energy Co., Ltd., YaksuESS Co., Ltd, PND solar., Ltd

Joint ventures (45 joint ventures)		Daegu Green Power Co., Ltd., KEPCO SPC Power Corporation, Daejung Offshore Wind Power Co., Ltd., KAPES, Inc., Dangjin Eco Power Co., Ltd., Honam Wind Power Co., Ltd., Seokmun Energy Co., Ltd., Incheon New Power Co., Ltd., Chun-cheon Energy Co., Ltd., Yeonggwangbaeksu Wind Power Co., Ltd., KW Nuclear Components Co., Ltd., KEPCO-Uhde Inc., GS Donghae Electric Power Co., Ltd., Busan Shinho Solar Power Co., Ltd., Global Trade Of Power System Co., Ltd., Expressway Solar-light Power Generation Co., Ltd., Gansu Datang Yumen Wind Power Co., Ltd., Datang Chifeng Renewable Power Co., Ltd., Rabigh Electricity Company, Eco Biomass Energy Sdn. Bhd., Rabigh Operation & Maintenance Company Limited, Datang KEPCO Chaoyang Renewable Power Co., Ltd., Shuweihat Asia Power Investment B.V., Shuweihat Asia Operation & Maintenance Company, Waterbury Lake Uranium L.P., ASM-BG Investicii AD, RES Technology AD, Jamaica Public Service Company Limited, KV Holdings, Inc., Datang Chaoyang Renewable Power Co., Ltd., KODE NOVUS I LLC, KODE NOVUS II LLC, Amman Asia Electric Power Company, Kelar S.A, PT. Tanjung Power Indonesia, Nghi Son 2 Power Ltd., Daehan Wind Power PSC, MOMENTUM, Barakah One Company, Nawah Energy Company, Yeonggwang Wind Power Co., Ltd., Chester Solar IV SpA, Chester Solar V SpA, Diego de Almagro Solar SpA, South Jamaica Power Company Limited

Others (3 others)		Korea Development Bank, Yeongwol Energy Station Co., Ltd., DS POWER Co., Ltd.

(2)

Transactions between the Company and its subsidiaries are eliminated during the consolidation and are not disclosed in notes.

(3)

Related party transactions for the years ended December 31, 2015, 2016 and 2017 are as follows:

<Sales and Others>


				Sales and others
Company name	Transaction type			2015		2016		2017
				In millions of won
<Associates>
Daegu Green Power Co., Ltd.		Electricity sales	￦		1,055		—		—
Dongducheon Dream Power Co., Ltd.		Electricity sales			14,811		15,221		17,041
Korea Gas Corporation		Electricity sales			90,480		89,030		88,011
Daegu Photovoltaic Co., Ltd.		Service			—		—		349
Jeongam Wind Power Co., Ltd.		Electricity sales			8		6		30
Korea Power Engineering Service Co., Ltd.		Service			1,743		1,455		1,317
KS Solar Co., Ltd.		Electricity sales			21		20		5
Heang Bok Do Si Photovoltaic Power Co., Ltd.		Service			1		2		2
Korea Electric Power Industrial Development Co., Ltd.		Service			12,361		10,723		14,044
Goseong Green Energy Co., Ltd.		Electricity sales			9,306		9,195		24,069
Gangneung Eco Power Co., Ltd.		Service			9,761		5,223		2,391
Shin Pyeongtaek Power Co., Ltd.		Electricity sales			11,344		3,579		9,025
Naepo Green Energy Co., Ltd.		Electricity sales			66		104		185
Noeul Green Energy Co., Ltd.		Electricity sales	￦		45		177		32
Samcheok Eco Materials Co., Ltd.		Electricity sales			—		64		237
YTN Co., Ltd.		Electricity sales			1,753		1,785		1,987
Busan Green Energy Co., Ltd.		Service			1		133		120
Gunsan Bio Energy Co., Ltd. (formerly, Jungbu Bio Energy Co., Ltd.)		Electricity sales			—		6		—
Korea Electric Vehicle Charging Service		Electricity sales			2		89		700
Ulleungdo Natural Energy Co., Ltd.		Service			229		691		1,013
Tamra Offshore Wind Power Co., Ltd.		Service			—		12		55
Daegu clean Energy Co., Ltd.		Electricity sales			—		—		421
Cheongna Energy Co., Ltd.		Service			21,081		6,831		7,980
Gangwon Wind Power Co., Ltd.		Electricity sales			1,046		1,273		994
Hyundai Green Power Co., Ltd.		Design service			15,401		14,835		14,280
Korea Power Exchange		Service			4,272		7,141		8,446
Hyundai Energy Co., Ltd.		Service			25,402		24,719		15,627
Taebaek Wind Power Co., Ltd.		Service			872		796		813
Pyeongchang Wind Power Co., Ltd.		Design service			72		497		1,176
Daeryun Power Co., Ltd.		Electricity sales			1,731		1,516		1,796
Changjuk Wind Power Co., Ltd.		Electricity sales			754		863		788
KNH Solar Co., Ltd.		Electricity sales			17		17		17
S-Power Co., Ltd.		Service			7,278		5,994		12,852
Busan Solar Co., Ltd.		Electricity sales			16		8		—
Green Biomass Co., Ltd.		Electricity sales			51		2		—
SPC Power Corporation		Dividend income			1,433		8,346		5,562
Gemeng International Energy Co., Ltd.		Dividend income			37,163		16,476		13,365
PT. Cirebon Electric Power		Dividend income			—		—		550
Dolphin Property Limited		Dividend income			—		35		—
PT. Bayan Resources TBK		Service			164		160		717
Nepal Water & Energy Development Company Private Limited		Service			—		375		900
Pioneer Gas Power Limited		Service			274		164		62
Xe-Pian Xe-Namnoy Power Co., Ltd.		Service			584		773		661
PT. Mutiara Jawa		Service			—		—		47

<Joint ventures>
Daegu Green Power Co., Ltd.		Electricity sales			—		768		1,131
KEPCO SPC Power Corporation		Service			29,572		10,344		45,005
Daejung Offshore Wind Power Co., Ltd.		Electricity sales			1		1		1
KAPES, Inc.		Commission			1,315		1,176		1,420
Dangjin Eco Power Co., Ltd.		Technical fee			334		1,787		670
Honam Wind Power Co., Ltd.		Electricity sales			65		169		552
Seokmun Energy Co., Ltd.		Service			2,395		1,627		1,765
Incheon New Power Co., Ltd.		Construction revenue			388		524		539
Chun-cheon Energy Co., Ltd.		Electricity sales			2,201		3,079		4,855
Yeonggwangbaeksu Wind Power Co., Ltd.		Electricity sales			927		1,591		1,654
KW Nuclear Components Co., Ltd.		Service			1,948		3,327		644
KEPCO-Uhde Inc.		Service			—		6		34
GS Donghae Electric Power Co., Ltd.		Electricity sales			5,614		12,994		11,204
Busan Shinho Solar Power Co., Ltd.		Electricity sales			24		210		87
Datang Chifeng Renewable Power Co., Ltd.		Interest income			9,702		8,216		500
Rabigh Electricity Company		Dividend income			565		699		19,179
Rabigh Operation & Maintenance Company Limited		Dividend income			1,780		2,395		2,784
Datang Chaoyang Renewable Power Co., Ltd.		Dividend income	￦		—		—		839
Shuweihat Asia Power Investment B.V.		Dividend income			—		2,957		1,707
Shuweihat Asia Operation & Maintenance Company		Electricity sales			1,006		1,179		1,319
ASM-BG Investicii AD		Service			—		322		1,062
Jamaica Public Service Company Limited		Service			3,077		1,905		—
KV Holdings, Inc.		Dividend income			—		302		—
Datang KEPCO Chaoyang Renewable Co., Ltd.		Dividend income			—		440		—
Amman Asia Electric Power Company		Service			48,968		21,915		14,205
Kelar S.A		Service			6,229		1,702		570
Nghi Son 2 Power Ltd.		Electricity sales			—		—		2,693
Barakah One Company		Electricity sales			—		25,244		7,059
Nawah Energy Company		Service			—		—		34,421

<Others>
Yeongwol Energy Station Co., Ltd.		Service			814		858		830
DS POWER Co., Ltd.		Service			106,183		35,133		5,819
Korea Development Bank		Electricity sales			4,039		3,102		3,239
		Interest income			2,402		3,164		1,685

<Purchase and Others>


			Purchase and others
Company name	Transaction type		2015		2016		2017
			In millions of won
<Associates>
Dongducheon Dream Power Co., Ltd.	Electricity purchase	￦		1,003,346		946,463		813,440
Korea Gas Corporation	Purchase of power generation fuel			4,598,763		3,633,198		3,245,519
Daegu Photovoltaic Co., Ltd.	REC purchase			3,978		3,243		3,646
Korea Power Engineering Service Co., Ltd.	Service			3,241		723		1,292
KS Solar Co., Ltd.	REC purchase			6,211		4,080		900
Heang Bok Do Si Photovoltaic Power Co., Ltd.	Rental fee and others			479		410		570
Korea Electric Power Industrial Development Co., Ltd.	Electricity metering service fee			273,057		250,057		289,293
Noeul Green Energy Co., Ltd.	Service			—		—		15,862
Samcheok Eco Materials Co., Ltd.	Electricity purchase			—		—		14
YTN Co., Ltd.	Advertisement fee			440		554		731
Busan Green Energy Co., Ltd.	Service			—		—		12,189
Korea Electric Vehicle Charging Service	Service			—		—		1,093
Ulleungdo Natural Energy Co., Ltd.	Electricity purchase			—		60		119
Tamra Offshore Wind Power Co., Ltd.	Electricity purchase			—		—		2,105
Cheongna Energy Co., Ltd.	Service			—		73		59
Gangwon Wind Power Co., Ltd.	Electricity purchase			21,946		22,780		25,968
Hyundai Green Power Co., Ltd.	Electricity purchase			486,443		469,547		458,378
Korea Power Exchange	Trading Fees			79,283		91,433		207,855
Hyundai Energy Co., Ltd.	Electricity purchase			1,684		1,313		87,607
Taebaek Wind Power Co., Ltd.	REC purchase			6,626		5,741		6,534
Pyeongchang Wind Power Co., Ltd.	Service			—		1,594		4,033
Daeryun Power Co., Ltd.	Electricity purchase			274,379		244,023		146,189
Changjuk Wind Power Co., Ltd.	Electricity purchase			6,472		5,786		6,981
KNH Solar Co., Ltd.	Electricity purchase	￦		4,598		4,006		3,947
S-Power Co., Ltd.	Electricity purchase			614,658		437,206		457,329
Busan Solar Co., Ltd.	Electricity purchase			4,055		1,079		—
Green Biomass Co., Ltd.	Woodchip purchase			3,782		2,232		1,345
Nepal Water & Energy Development Company Private Limited	Service			—		—		72

<Joint ventures>
Daegu Green Power Co., Ltd.	Electricity purchase			318,221		263,797		252,024
KAPES, Inc.	Service			47,130		140,555		164,165
Honam Wind Power Co., Ltd.	Electricity purchase			5,944		6,776		5,962
Seokmun Energy Co., Ltd.	REC purchase			—		—		21,674
Chun-cheon Energy Co., Ltd.	REC purchase			—		—		194,136
Yeonggwangbaeksu Wind Power Co., Ltd.	Electricity purchase			4,974		11,208		11,124
GS Donghae Electric Power Co., Ltd.	Electricity purchase			—		903		351,367
Busan Shinho Solar Power Co., Ltd.	REC purchase			7,565		6,770		7,984
Global Trade Of Power System Co., Ltd.	Service			192		882		414
Expressway Solar-light Power Generation Co., Ltd.	Electricity purchase			3,451		2,942		2,941
Jamaica Public Service Company Limited	Service			106		127		154
Amman Asia Electric Power Company	Service			125		—		—
Barakah One Company	Service			—		—		2,631

<Others>
Yeongwol Energy Station Co., Ltd.	REC purchase			16,408		14,875		14,256
Korea Development Bank	Interest expense			21,719		8,231		4,573
	Dividend paid			96,087		654,829		418,407

(4)

Receivables and payables arising from related party transactions as of December 31, 2016 and 2017 are as follows:


			Receivables				Payables
Company name	Type		2016		2017		2016		2017
			In millions of won
<Associates>
Dongducheon Dream Power Co., Ltd.	Trade receivables	￦		1,073		2,230		—		—
	Non-trade receivables and others			—		655		—		—
	Trade payables			—		—		93,493		77,817
Korea Gas Corporation	Trade receivables			8,739		9,833		—		—
	Non-trade receivables and others			78		339		—		—
	Trade payables			—		—		399,563		524,881
	Non-trade payables and others			—		—		9,090		569
Daegu Photovoltaic Co., Ltd.	Trade payables			—		—		56		71
Jeongam Wind Power Co., Ltd.	Non-trade payables and others			—		—		4		4
KS Solar Co., Ltd.	Trade receivables			2		—		—		—
	Trade payables			—		—		53		—
Korea Electric Power Industrial Development Co., Ltd.	Trade receivables			362		333		—		—
	Non-trade receivables and others			47		42		—		—
	Non-trade payables and others			—		—		18,628		18,006
Goseong Green Energy Co., Ltd.	Non-trade receivables and others			—		19		—		—
	Non-trade payables and others			—		—		3,900		7,140
Gangneung Eco Power Co., Ltd.	Trade receivables	￦		1		1		—		—
	Non-trade receivables and others			2,137		4,747		—		—
Shin Pyeongtaek Power Co., Ltd.	Non-trade receivables and others			215		210		—		—
	Non-trade payables and others			—		—		—		52
Naepo Green Energy Co., Ltd.	Trade receivables			14		17		—		—
Noeul Green Energy Co., Ltd.	Trade receivables			18		3		—		—
	Non-trade payables and others			—		—		—		2,041
Samcheok Eco Materials Co., Ltd.	Trade receivables			21		20		—		—
YTN Co., Ltd.	Trade receivables			165		98		—		—
YTN Co., Ltd.	Non-trade payables and others			—		—		132		209
Busan Green Energy Co., Ltd.	Trade receivables			9		7		—		—
	Non-trade receivables and others			—		1,691		—		—
Korea Electric Vehicle Charging Service	Trade receivables			12		23		—		—
	Trade payables			—		—		—		45
Ulleungdo Natural Energy Co., Ltd.	Non-trade receivables and others			111		—		—		—
Cheongna Energy Co., Ltd.	Trade receivables			165		182		—		—
	Non-trade payables and others			—		—		82		1
Gangwon Wind Power Co., Ltd.	Trade receivables			8		6		—		—
	Trade payables			—		—		2,031		3,033
Hyundai Green Power Co., Ltd.	Trade receivables			569		946		—		—
	Trade payables			—		—		31,507		32,589
Korea Power Exchange	Trade receivables			1,066		463		—		—
	Non-trade receivables and others			53		128		—		—
	Non-trade payables and others			—		—		1,235		1,142
Hyundai Energy Co., Ltd.	Trade receivables			72		49		—		—
	Non-trade receivables and others			68,798		6,598		—		—
	Trade payables			—		—		86		223
	Non-trade payables and others			—		—		—		13,796
Ecollite Co., Ltd.	Non-trade receivables and others			210		210		—		—
Taebaek Wind Power Co., Ltd.	Trade receivables			—		116		—		—
	Non-trade receivables and others			112		—		—		—
	Trade payables			—		—		386		533
	Non-trade payables and others			—		—		304		121
Pyeongchang Wind Power Co., Ltd.	Trade receivables			4		3		—		—
	Non-trade payables and others			—		—		255		163
Daeryun Power Co., Ltd.	Trade receivables			140		162		—		—
	Trade payables			—		—		21,646		15,706
Changjuk Wind Power Co., Ltd.	Trade receivables			100		101		—		—
	Trade payables			—		—		358		515
	Non-trade payables and others			—		—		334		546
KNH Solar Co., Ltd.	Trade receivables			1		1		—		—
	Non-trade payables and others			—		—		204		193
S-Power Co., Ltd.	Trade receivables			142		117		—		—
	Non-trade receivables and others			393		5,183		—		—
	Trade payables			—		—		51,844		25,061
Green Biomass Co., Ltd.	Non-trade payables and others	￦		—		—		113		85
SPC Power Corporation	Non-trade receivables and others			—		76		—		—
Nepal Water & Energy Development Company Private Limited	Non-trade receivables and others			889		227		—		—
Pioneer Gas Power Limited	Non-trade receivables and others			82		—		—		—
Xe-Pian Xe-Namnoy Power Co., Ltd.	Non-trade receivables and others			58		53		—		—

<Joint ventures>
Daegu Green Power Co., Ltd.	Trade receivables			52		98		—		—
	Non-trade receivables and others			1		10		—		—
	Trade payables			—		—		27,400		25,257
KEPCO SPC Power Corporation	Non-trade receivables and others			2,349		—		—		—
KAPES, Inc.	Non-trade receivables and others			235		—		—		—
	Trade payables			—		—		—		55
	Non-trade payables and others			—		—		11,992		—
Dangjin Eco Power Co., Ltd.	Non-trade receivables and others			833		1,211		—		—
	Non-trade payables and others			—		—		—		41
Honam Wind Power Co., Ltd.	Trade payables			—		—		424		381
	Non-trade payables and others			—		—		3,082		3,013
Seokmun Energy Co., Ltd.	Trade receivables			114		93		—		—
	Non-trade receivables and others			160		276		—		—
	Non-trade payables and others			—		—		—		3,052
Incheon New Power Co., Ltd.	Trade receivables			128		128		—		—
Chun-cheon Energy Co., Ltd.	Trade receivables			—		129		—		—
	Non-trade receivables and others			255		252		—		—
	Trade payables			—		—		—		29,676
Yeonggwangbaeksu Wind Power Co., Ltd.	Trade receivables			6		7		—		—
	Non-trade receivables and others			145		144		—		—
	Trade payables			—		—		761		619
	Non-trade payables and others			—		—		1,362		1,300
KW Nuclear Components Co., Ltd.	Trade receivables			—		4		—		—
KEPCO-Uhde Inc.	Non-trade payables and others			—		—		4		4
GS Donghae Electric Power Co., Ltd.	Trade receivables			775		450		—		—
	Non-trade receivables and others			1,497		1,892		—		—
	Trade payables			—		—		—		73,570
	Non-trade payables and others			—		—		993		—
Busan Shinho Solar Power Co., Ltd.	Trade receivables			3		2		—		—
	Trade payables			—		—		129		159
	Non-trade payables and others			—		—		670		811
Datang Chifeng Renewable Power Co., Ltd.	Non-trade receivables and others			210		82		—		—
Rabigh Operation & Maintenance Company Limited	Trade receivables			2,275		—		—		—
	Non-trade receivables and others			—		869		—		—
ASM-BG Investicii AD	Non-trade receivables and others			64		37		—		—
Jamaica Public Service Company Limited	Trade receivables			615		—		—		—
Amman Asia Electric Power Company	Trade receivables			2,509		2,675		—		—
Nawah Energy Company	Trade receivables			—		10,419		—		—

<Others>
Yeongwol Energy Station Co., Ltd.	Trade receivables			7,064		7,068		—		—
	Trade payables			—		—		229		—
DS POWER Co., Ltd.	Trade receivables			1,775		340		—		—
Korea Development Bank	Accrued interest income			672		204		—		—
	Non-trade receivables and others			217,481		501,029		—		—
	Non-trade payables and others			—		—		408		200
	Derivatives			25,306		569		3,278		22,398

(5)

Loans and others arising from related party transactions as of December 31, 2016 and 2017 are as follows:


Type	Company name		Beginning balance			Loans		Collection			Others			Ending balance
			In millions of won
Associates	KNOC Nigerian East Oil Co., Ltd., KNOC Nigerian West Oil Co., Ltd.	￦		29,282			169		—			(3,110	)		26,341
	(Allowance for doubtful accounts)			(18,191	)		—		—			1,640			(16,551	)
Associates	PT. Cirebon Electric Power			26,733			2,199		(7,876	)		(5,620	)		15,436
Associates	Xe-Pian Xe-Namnoy Power Co., Ltd.			1,413			—		—			—			1,413
Associates	PT Wampu Electric Power			14,022			905		—			(1,639	)		13,288
Associates	Gunsan Bio Energy Co., Ltd. (formerly, Jungbu Bio Energy Co., Ltd.)			9,396			—		—			—			9,396
Associates	Hyundai Energy Co., Ltd.			2,465			—		—			—			2,465
	(Allowance for doubtful accounts)			—			—		—			(2,465	)		(2,465	)
Joint ventures	KEPCO SPC Power Corporation			27,795			—		(7,803	)		(2,743	)		17,249
Joint ventures	Datang Chifeng Renewable Power Co., Ltd.			16,344			—		(7,647	)		(1,452	)		7,245
Joint ventures	Rabigh Electricity Company			2,641			—		(2,496	)		(145	)		—
Joint ventures	KODE NOVUS II LLC			4,532			—		—			(514	)		4,018
	(Allowance for doubtful accounts)			(4,532	)		—		—			514			(4,018	)
Joint ventures	Kelar S.A			—			54,631		(3,568	)		(4,443	)		46,620
Joint ventures	Daehan Wind Power PSC			683			640		—			(112	)		1,211
Joint ventures	Chester Solar IV SpA			—			4,802		—			(195	)		4,607

		￦		112,583			63,346		(29,390	)		(20,284	)		126,255

(6)

Borrowings arising from related party transactions as of December 31, 2016 and 2017 are as follows:


Related parties	Type		Beginning balance		Borrowings		Repayment			Others			Ending balance
			In millions of won
Korea Development	Facility	￦		207,993		27,324		(141,434	)		—			93,883
Bank	Others			5,663		—		(754	)		—			4,909
	Operating funds			37,000		49,000		(25,000	)		—			61,000
	Syndicated Loan			6,075		11,855		—			(1,629	)		16,301

(7)

Guarantees provided to associates or joint ventures as of December 31, 2017 are as follows:


Primary guarantor	Principal obligor	Type of guarantees	Credit limit		Guarantee
In millions of won and thousands of foreign currencies

Korea Electric Power Corporation	Shuweihat Asia Operation & Maintenance Company	Performance guarantees		USD 11,000	SAPCO

Korea Electric Power Corporation	KNOC Nigerian East Oil Co., Ltd. and KNOC Nigerian West Oil Co., Ltd.	Performance guarantees		USD 34,650	Korea National Oil Corporation (Nigerian government)

Korea Electric Power Corporation	Rabigh Operation & Maintenance Company Limited	Performance guarantees and others		USD 1,387	RABEC

Korea Electric Power Corporation	Nghi Son 2 Power Ltd.	Bidding guarantees		USD 10,000	SMBC Ho Chi Minh

Korea Electric Power Corporation	Barakah One Company	Debt guarantees		USD 900,000	Export-Import Bank of Korea and others

		Performance guarantees and others		USD 3,404,275

Korea Western Power Co., Ltd.	Cheongna Energy Co., Ltd.	Collateralized money invested		KRW 27,211	KEB Hana Bank and others

		Guarantees for supplemental funding and others (*1)		—
Korea Western Power Co., Ltd.	Xe-Pian Xe-Namnoy Power Co., Ltd.	Payment guarantees for business reserve		USD 2,500	Krung Thai Bank
		Collateralized money invested		USD 62,253	Krung Thai Bank
		Impounding bonus guarantees		USD 5,000	SK E&C
Korea Western Power Co., Ltd.	Rabigh Operation & Maintenance Company Limited	Performance guarantees and others		SAR 5,600	Saudi Arabia British Bank
Korea Western Power Co., Ltd.	Daegu Photovoltaic Co., Ltd.	Collateralized money invested		KRW 1,230	Korea Development Bank
Korea Western Power Co., Ltd.	Dongducheon Dream Power Co., Ltd.	Collateralized money invested		KRW 53,233	Kookmin Bank and others
Korea Western Power Co., Ltd.	PT. Mutiara Jawa	Collateralized money invested		USD 2,610	Woori Bank
Korea Western Power Co., Ltd.	Heang Bok Do Si Photovoltaic Power Co., Ltd.	Collateralized money invested		KRW 194	Nonghyup Bank
Korea Western Power Co., Ltd.	Shin Pyeongtaek Power Co., Ltd.	Collateralized money invested		KRW 43,920	Kookmin Bank
Korea East-West Power Co., Ltd.	Busan Shinho Solar Power Co., Ltd.	Collateralized money invested		KRW 2,100	Korea Development Bank and others
Korea East-West Power Co., Ltd.	Seokmun Energy Co., Ltd.	Collateralized money invested		KRW 15,370	Kookmin Bank and others
Korea East-West Power Co., Ltd.	Chun-cheon Energy Co., Ltd.	Collateralized money invested		KRW 52,700	Kookmin Bank and others
		Guarantees for supplemental funding(*1)		KRW 60,270	Kookmin Bank and others
Korea East-West Power Co., Ltd.	Honam Wind Power Co., Ltd.	Collateralized money invested		KRW 3,480	Shinhan Bank and others
Korea East-West Power Co., Ltd.	GS Donghae Electric Power Co., Ltd.	Collateralized money invested		KRW 204,000	Korea Development Bank and others
Korea East-West Power Co., Ltd.	Yeonggwangbaeksu Wind Power Co., Ltd.	Collateralized money invested		KRW 3,000	Kookmin Bank and others
Korea East-West Power Co., Ltd.	Yeonggwang Wind Power Co., Ltd.	Collateralized money invested		KRW 15,375	KEB Hana Bank and others
Korea East-West Power Co., Ltd.	PT. Tanjung Power Indonesia	Debt guarantees		USD 46,983	The Bank of Tokyo-Mitsubishi and others
		Other guarantees		USD 3,150	PT Adaro Indonesia
EWP Barbados 1 SRL	South Jamaica Power Company Limited	Performance guarantees		USD 14,400	Societe Generale
		Guarantees for supplemental funding and others(*1, 3)		USD 60,000	JCSD Trustee Services Limited and others
Korea Southern Power Co., Ltd.	KNH Solar Co., Ltd.	Collateralized money invested		KRW 1,296	Shinhan Bank and Kyobo Life Insurance Co., Ltd.
		Performance guarantees and guarantees for supplemental funding and others(*1)		—	Shinhan Bank and Kyobo Life Insurance Co., Ltd.
Korea Southern Power Co., Ltd.	Daeryun Power Co., Ltd.	Collateralized money invested		KRW 25,477	Korea Development Bank and others
		Guarantees for supplemental funding and others(*1)		—	Korea Development Bank and others
Korea Southern Power Co., Ltd.	Changjuk Wind Power Co., Ltd.	Collateralized money invested		KRW 3,801	Shinhan Bank
		Guarantees for supplemental funding(*1)		—
Korea Southern Power Co., Ltd.	Daegu Green Power Co., Ltd.	Collateralized money invested		KRW 46,226	Shinhan Bank
Korea Southern Power Co., Ltd.	Kelar S.A	Performance guarantees		USD 63,707	KEB Hana Bank, SMBC, Mizuho Bank and others
Korea Southern Power Co., Ltd.	DS POWER Co., Ltd.	Collateralized money invested		KRW 2,900	Korea Development Bank and others
		Guarantees for supplemental funding and others(*1)		—	Korea Development Bank and others
Korea Southern Power Co., Ltd.	Pyeongchang Wind Power Co., Ltd.	Collateralized money invested		KRW 3,875	Woori Bank and Shinhan Bank
		Performance guarantees and guarantees for supplemental funding and others(*1)		—
Korea Southern Power Co., Ltd.	Taebaek Wind Power Co., Ltd.	Guarantees for supplemental funding and others(*1)		—	Shinhan Bank
Korea Southern Power Co., Ltd.	Jeongam Wind Power Co., Ltd	Collateralized money invested Guarantees for supplemental funding and others (*1)		KRW 5,580 —	SK Securities Co., Ltd.
Korea Southern Power Co., Ltd.	Naepo Green Energy Co., Ltd.			KRW 29,200	Hana Financial Investment Co., Ltd. and others
		Guarantees for supplemental funding and others (*1)		—
KEPCO Engineering & Construction Company, Inc.	DS POWER Co., Ltd.	Collateralized money invested		KRW 15,000	Korea Development Bank and others
Korea Midland Power Co., Ltd.	Hyundai Green Power Co., Ltd.	Collateralized money invested		KRW 87,003	Korea Development Bank and others
		Guarantees for supplemental funding and others (*1)		—
Korea Midland Power Co., Ltd.	PT. Cirebon Electric Power	Debt guarantees		USD 11,550	Mizuho Bank
Korea Midland Power Co., Ltd.	PT Wampu Electric Power	Debt guarantees		USD 5,068	SMBC
Korea Midland Power Co., Ltd.	Gangwon Wind Power Co., Ltd.	Collateralized money invested		KRW 7,409	IBK and others
Korea Midland Power Co., Ltd.	YaksuESS Co., Ltd	Collateralized money invested		KRW 210	Hanwha Life Insurance Co., Ltd.
		Guarantees for supplemental funding and others (*1)		—
Korea South-East Power Co., Ltd.	Hyundai Energy Co., Ltd.	Collateralized money invested		KRW 47,067	Korea Development Bank and others
		Performance guarantees and guarantees for supplemental funding and others (*1)		KRW 78,600
Korea South-East Power Co., Ltd.	RES Technology AD	Collateralized money invested		KRW 15,595	UniCredit Bulbank and others
Korea South-East Power Co., Ltd.	ASM-BG Investicii AD	Collateralized money invested		KRW 16,101	UniCredit Bulbank and others
Korea South-East Power Co., Ltd.	Express Solar-light Power Generation Co., Ltd.	Guarantees for supplemental funding (*1, 2)		KRW 2,500	Woori Bank
Korea South-East Power Co., Ltd.	S-Power Co., Ltd.	Collateralized money invested		KRW 132,300	Korea Development Bank and others
KOSEP USA, INC.	KODE NOVUS II LLC	Guarantees for supplemental funding and others (*1)		—	Korea Development Bank
KOSEP USA, INC.	KODE NOVUS I LLC	Guarantees for supplemental funding and others (*1)		—	Export-Import Bank of Korea and others
Korea Hydro & Nuclear Power Co., Ltd.	Yeongwol Energy Station Co., Ltd.	Collateralized money invested		KRW 1,400	Meritz Fire & Marine Insurance Co., Ltd.
Korea Hydro & Nuclear Power Co., Ltd.	Noeul Green Energy Co., Ltd.,	Collateralized money invested		KRW 1,740	KEB Hana Bank and others
Korea Hydro & Nuclear Power Co., Ltd.	Busan Green Energy Co., Ltd.	Collateralized money invested		KRW 5,243	Shinhan Bank and others
KEPCO Plant Service & Engineering Co., Ltd.	Incheon New Power Co., Ltd.	Collateralized money invested		KRW 8,160	Shinhan Bank
		Guarantees for supplemental funding and others (*1)		—

(*1)	The Company guarantees to provide supplemental funding for business with respect to excessive business expenses or insufficient repayment of borrowings.

(*2)

The Company has granted the right to Hana Financial Investment Co., Ltd., as an agent for the creditors to Express Solar-light Power Generation Co., Ltd. (“ESPG”), to the effect that in the event of acceleration of ESPG’s payment obligations under certain borrowings to such creditors, Hana Financial may demand the Company to dispose of shares in ESPG held by the Company and apply the resulting proceeds to repayment of ESPG’s obligations.

(*3)

This includes a guarantee for the shareholder’s capital payment in connection with the business of 190MW gas complex thermal power plant in Jamaica. EWP (Barbados) 1 SRL’s capital contribution amount is USD 6,400 thousand and the total amount of guarantees is USD 27,000 thousand which consists of USD 12,000 thousand of EWP (Barbados) 1 SRL’s contribution obligation and USD 15,000 thousand of SJEH’s portion (50%) of contribution obligation.

(8)

As of December 31, 2017, there is no financial guarantee contract provided by related parties.

(9)

Derivatives transactions with related parties as of December 31, 2017 are as follows:

(i)

Currency Swap


In millions of won and thousands of U.S. dollars
Counterparty	Contract year			Contract Amount				Contract interest rate per annum							Contract exchange rate
Counterparty	Contract year			Pay		Receive		Pay (%)			Receive (%)				Contract exchange rate
Korea Development Bank		2016~2019	￦		105,260		USD 100,000		2.48	%		2.38	%	￦		1,052.60
		2015~2025			111,190		USD 100,000		2.62	%		3.25	%			1,111.90
		2017~2027			111,610		USD 100,000		2.31	%		3.13	%			1,116.10
		2017~2020			114,580		USD 100,000		1.75	%		2.38	%			1,145.80
		2016~2021			121,000		USD 100,000		2.15	%		2.50	%			1,210.00
		2017~2022			113,300		USD 100,000		1.94	%		2.63	%			1,133.00

(ii)

Currency forward


In millions of won and thousands of foreign currencies
Counterparty	Contract Date		Maturity date			Contract amounts					Contract exchange rate
Counterparty	Contract Date		Maturity date			Pay		Receive			Contract exchange rate
Korea Development Bank		2017.12.27		2021.07.12	￦		104,849		USD 100,000	￦		1,048.49
		2017.12.14		2018.01.10			11,950		USD 11,000			1,086.35
		2017.12.20		2018.01.16			15,130		USD 14,000			1,080.70
		2017.12.28		2018.01.31			11,782		USD 11,000			1,071.10

(10)

Salaries and other compensations to the key members of management of the Company for the years ended December 31, 2015, 2016 and 2017 are as follows:


Type		2015		2016		2017
		In millions of won
Salaries	￦		1,271		1,463		1,271
Employee benefits			59		33		54

	￦		1,330		1,496		1,325