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Consolidated Subsidiaries (Tables)

12 Months Ended

Dec. 31, 2017

Consolidated Subsidiaries [Abstract]

Consolidated subsidiaries as of December 31, 2016 and 2017 are as follows:


			Percentage of ownership (%)
Subsidiaries	Key operation activities	Location	2016			2017
Korea Hydro & Nuclear Power Co., Ltd.	Power generation	KOREA		100.00	%		100.00	%
Korea South-East Power Co., Ltd.	Power generation	KOREA		100.00	%		100.00	%
Korea Midland Power Co., Ltd.	Power generation	KOREA		100.00	%		100.00	%
Korea Western Power Co., Ltd.	Power generation	KOREA		100.00	%		100.00	%
Korea Southern Power Co., Ltd.	Power generation	KOREA		100.00	%		100.00	%
Korea East-West Power Co., Ltd.	Power generation	KOREA		100.00	%		100.00	%
KEPCO Engineering & Construction Company, Inc.(*1)	Architectural engineering for utility plant and others	KOREA		65.77	%		65.77	%
KEPCO Plant Service & Engineering Co., Ltd.	Utility plant maintenance and others	KOREA		51.00	%		51.00	%
KEPCO Nuclear Fuel Co., Ltd.	Nuclear fuel	KOREA		96.36	%		96.36	%
KEPCO KDN Co., Ltd.	Electric power information technology and others	KOREA		100.00	%		100.00	%
Garolim Tidal Power Plant Co., Ltd.(*2)	Power generation	KOREA		49.00	%		49.00	%
KEPCO International HongKong Ltd.	Holding company	HONG KONG		100.00	%		100.00	%
KEPCO International Philippines Inc.	Holding company	PHILIPPINES		100.00	%		100.00	%
KEPCO Gansu International Ltd.	Holding company	HONG KONG		100.00	%		100.00	%
KEPCO Philippines Holdings Inc.	Holding company	PHILIPPINES		100.00	%		100.00	%
KEPCO Philippines Corporation	Operation of utility plant	PHILIPPINES		100.00	%		100.00	%
KEPCO Ilijan Corporation	Construction and operation of utility plant	PHILIPPINES		51.00	%		51.00	%
KEPCO Lebanon SARL	Operation of utility plant	LEBANON		100.00	%		100.00	%
KEPCO Neimenggu International Ltd.	Holding company	HONG KONG		100.00	%		100.00	%
KEPCO Shanxi International Ltd.	Holding company	HONG KONG		100.00	%		100.00	%
KOMIPO Global Pte Ltd.	Holding company	SINGAPORE		100.00	%		100.00	%
KEPCO Canada Energy Ltd.	Resources development	CANADA		100.00	%		100.00	%
KEPCO Netherlands B.V.	Holding company	NETHERLANDS		100.00	%		100.00	%
KOREA Imouraren Uranium Investment Corp.	Holding company	FRANCE		100.00	%		100.00	%
KEPCO Australia Pty., Ltd.	Resources development	AUSTRALIA		100.00	%		100.00	%
KOSEP Australia Pty., Ltd.	Resources development	AUSTRALIA		100.00	%		100.00	%
KOMIPO Australia Pty., Ltd.	Resources development	AUSTRALIA		100.00	%		100.00	%
KOWEPO Australia Pty., Ltd.	Resources development	AUSTRALIA		100.00	%		100.00	%
KOSPO Australia Pty., Ltd.	Resources development	AUSTRALIA		100.00	%		100.00	%
KEPCO Middle East Holding Company	Holding company	BAHRAIN		100.00	%		100.00	%
Qatrana Electric Power Company	Construction and operation of utility plant	JORDAN		80.00	%		80.00	%
KHNP Canada Energy, Ltd.	Holding company	CANADA		100.00	%		100.00	%
KEPCO Bylong Australia Pty., Ltd.	Resources development	AUSTRALIA		100.00	%		100.00	%
Korea Waterbury Uranium Limited Partnership	Resources development	CANADA		79.64	%		79.64	%
Korea Electric Power Nigeria Ltd.	Operation of utility plant	NIGERIA		100.00	%		100.00	%
KEPCO Holdings de Mexico	Holding company	MEXICO		100.00	%		100.00	%
KST Electric Power Company	Construction and operation of utility plant	MEXICO		56.00	%		56.00	%
KEPCO Energy Service Company	Operation of utility plant	MEXICO		100.00	%		100.00	%
KEPCO Netherlands S3 B.V.	Holding company	NETHERLANDS		100.00	%		100.00	%
PT. KOMIPO Pembangkitan Jawa Bali	Operation of utility plant	INDONESIA		51.00	%		51.00	%
PT. Cirebon Power Service(*2)	Operation of utility plant	INDONESIA		27.50	%		27.50	%
KOWEPO International Corporation	Operation of utility plant	PHILIPPINES		99.99	%		99.99	%
KOSPO Jordan LLC	Operation of utility plant	JORDAN		100.00	%		100.00	%
EWP Philippines Corporation	Holding company	PHILIPPINES		100.00	%		100.00	%
EWP America Inc.	Holding company	USA		100.00	%		100.00	%
EWP Renewable Corporation	Holding company	USA		100.00	%		100.00	%
DG Fairhaven Power, LLC	Power generation	USA		100.00	%		100.00	%
DG Whitefield, LLC	Power generation	USA		100.00	%		100.00	%
Springfield Power, LLC	Power generation	USA		100.00	%		100.00	%
KNF Canada Energy Limited	Holding company	CANADA		96.36	%		96.36	%
PT KEPCO Resource Indonesia	Holding company	INDONESIA		100.00	%		100.00	%
EWP Barbados 1 SRL	Holding company	BARBADOS		100.00	%		100.00	%
California Power Holdings, LLC	Power generation	USA		100.00	%		100.00	%
Gyeonggi Green Energy Co., Ltd.	Power generation	KOREA		62.01	%		62.01	%
PT. Tanggamus Electric Power	Power generation	INDONESIA		52.50	%		52.50	%
Gyeongju Wind Power Co., Ltd.	Power generation	KOREA		70.00	%		70.00	%
KOMIPO America Inc.	Holding company	USA		100.00	%		100.00	%
EWPRC Biomass Holdings, LLC	Holding company	USA		100.00%			100.00%
KOSEP USA, INC.	Power generation	USA		100.00%			100.00%
PT. EWP Indonesia	Holding company	INDONESIA		99.95%			99.96%
KEPCO Netherlands J3 B.V.	Holding company	NETHERLANDS		100.00%			100.00%
Korea Offshore Wind Power Co., Ltd.	Power generation	KOREA		100.00%			100.00%
Global One Pioneer B.V.	Holding company	NETHERLANDS		100.00%			100.00%
Global Energy Pioneer B.V.	Holding company	NETHERLANDS		100.00%			100.00%
Mira Power Limited(*3)	Power generation	PAKISTAN		76.00%			76.00%
KOSEP Material Co., Ltd.(*4)	Recycling fly ashes	KOREA		46.22%			86.22%
Commerce and Industry Energy Co., Ltd.(*5)	Power generation	KOREA		59.03%			59.03%
KEPCO Singapore Holdings Pte., Ltd.	Holding company	SINGAPORE		100.00%			100.00%
KOWEPO India Private Limited	Holding company	INDIA		100.00%			100.00%
KEPCO KPS Philippines Corp.	Utility plant maintenance and others	PHILIPPINES		51.00%			51.00%
KOSPO Chile SpA	Holding company	CHILE		100.00%			100.00%
PT. KOWEPO Sumsel Operation And Maintenance Services	Utility plant maintenance and others	INDONESIA		95.00%			95.00%
HeeMang Sunlight Power Co., Ltd.	Operation of utility plant	KOREA		100.00%			100.00%
Fujeij Wind Power Company	Operation of utility plant	JORDAN		100.00%			100.00%
KOSPO Youngnam Power Co., Ltd.	Operation of utility plant	KOREA		50.00%			50.00%
HI Carbon Professional Private Special Asset Investment Trust 1 (formerly, Global One Carbon Private Equity Investment Trust 2)	Holding company	KOREA		96.67%			96.67%
Chitose Solar Power Plant LLC	Power generation	JAPAN		80.10%			80.10%
KEPCO Energy Solution Co. Ltd.	Energy service	KOREA		100.00%			100.00%
Solar School Plant Co., Ltd.	Power generation	KOREA		100.00%			100.00%
KOSPO Power Services Limitada	Utility plant maintenance and others	CHILE		65.00%			65.00%
Energy New Industry Specialized Investment Private Investment Trust	Holding company	KOREA		99.75%			99.75%
KOEN Bylong Pty., Ltd.	Resources development	AUSTRALIA		100.00%			100.00%
KOMIPO Bylong Pty., Ltd.	Resources development	AUSTRALIA		100.00%			100.00%
KOWEPO Bylong Pty., Ltd.	Resources development	AUSTRALIA		100.00%			100.00%
KOSPO Bylong Pty., Ltd.	Resources development	AUSTRALIA		100.00%			100.00%
EWP Bylong Pty., Ltd.	Resources development	AUSTRALIA		100.00%			100.00%
KOWEPO Lao International	Utility plant maintenance and others	LAOS		100.00%			100.00%
KEPCO US Inc.	Holding company	USA		—			100.00%
KEPCO Alamosa LLC	Holding company	USA		—			50.10%
Cogentrix Solar Services, LLC	Holding company	USA		—			50.10%
Solar Investments I, LLC	Holding company	USA		—			50.10%
Cogentrix of Alamosa, LLC	Power generation	USA		—			50.10%
KEPCO-LG CNS Mangilao Holdings LLC	Holding company	USA		—			70.00%
Mangilao Investment LLC	Holding company	USA		—			70.00%
KEPCO-LG CNS Mangilao Solar, LLC	Power generation	USA		—			70.00%
Jeju Hanlim Offshore Wind Co., Ltd.	Power generation	KOREA		—			70.22%
PT. Siborpa Eco Power	Construction and operation of utility plant	INDONESIA		—			64.71%
BSK E-New Industry Fund VII	Holding company	KOREA		—			81.47%
e-New Industry LB Fund 1	Holding company	KOREA		—			75.92%
Songhyun e-New Industry Fund	Holding company	KOREA		—			80.45%

(*1)	Considering treasury stocks, the effective percentage of ownership is 66.08%.

(*2)	These subsidiaries are included in the consolidated financial statements as the Company obtained the majority of the voting power through the shareholders’ agreement.

(*3)	As of reporting date, the annual reporting period of all subsidiaries is December 31, except for Mira Power Limited which is November 30.

(*4)	The effective percentage of ownership has increased to 86.22% since Long Lasting Value exercised the put option to sell its investment to KOSEP during the year ended December 31, 2017.

(*5)

The Company guarantees a certain return on investment related to Commerce and Industry Energy Co., Ltd. for the financial investors. The financial investors have a right to sell their shares to the Company which can be exercised 84 months after the date of investment. Accordingly, the purchase price including the return on investment is classified as a liability.

Subsidiaries newly included in or excluded from consolidation

Subsidiaries newly included in or excluded from consolidation for the year ended December 31, 2017 are as follows:

Subsidiaries

included in consolidation during the year ended December 31, 2017.


Subsidiary		Reason
KEPCO US Inc.		Newly established
KEPCO Alamosa LLC		Newly established
Cogentrix Solar Services, LLC		Newly established
Solar Investments I, LLC		Newly established
Cogentrix of Alamosa, LLC		Newly established
KEPCO-LG CNS Mangilao Holdings LLC		Newly established
Mangilao Investment LLC		Newly established
KEPCO-LG CNS Mangilao Solar, LLC		Newly established
Jeju Hanlim Offshore Wind Co., Ltd.		Newly established
PT. Siborpa Eco Power		Newly established
BSK E-New Industry Fund VII		Newly established
e-New Industry LB Fund 1		Newly established
Songhyun e-New Industry Fund		Newly established

There

are no subsidiaries excluded from consolidation during the year ended December 31, 2017.

Summary of financial information of consolidated subsidiaries

Summary of financial information of consolidated subsidiaries as of and for the years ended December 31, 2016 and 2017 are as follows:


2016
Subsidiaries		Total assets		Total liabilities		Sales		Profit (loss) for the period
		In millions of won
Korea Hydro & Nuclear Power Co., Ltd.	￦		52,782,915		27,366,938		11,168,579		2,454,810
Korea South-East Power Co., Ltd.			9,773,778		4,794,330		5,093,598		531,061
Korea Midland Power Co., Ltd.			9,066,666		5,416,336		3,719,981		400,696
Korea Western Power Co., Ltd.			9,810,714		5,866,916		4,169,712		401,936
Korea Southern Power Co., Ltd.			9,806,023		5,637,950		4,200,035		426,337
Korea East-West Power Co., Ltd.			8,967,951		4,488,911		4,210,898		467,603
KEPCO Engineering & Construction Company, Inc.			786,596		364,676		506,012		17,796
KEPCO Plant Service & Engineering Co., Ltd.			1,086,421		301,490		1,214,304		86,657
KEPCO Nuclear Fuel Co., Ltd.			713,230		346,012		309,911		33,115
KEPCO KDN Co., Ltd.			519,901		205,869		588,160		43,127
Garolim Tidal Power Plant Co., Ltd.			632		346		—		-24
KEPCO International HongKong Ltd.			173,138		41		—		4,532
KEPCO International Philippines Inc.			114,141		1,468		—		56,783
KEPCO Gansu International Ltd.			17,928		557		—		(18	)
KEPCO Philippines Holdings Inc.			125,100		27		—		13,517
KEPCO Philippines Corporation			13,704		8,949		—		(8,717	)
KEPCO Ilijan Corporation			558,030		58,449		116,667		51,552
KEPCO Lebanon SARL			1,458		10,312		—		810
KEPCO Neimenggu International Ltd.			186,636		—		—		7,082
KEPCO Shanxi International Ltd.			549,189		218,047		—		5,812
KOMIPO Global Pte Ltd.			223,082		1,095		—		36,764
KEPCO Canada Energy Ltd.			202		24		—		(27,216	)
KEPCO Netherlands B.V.			128,014		35		—		224
KOREA Imouraren Uranium Investment Corp.			154,302		764		—		(68,417	)
KEPCO Australia Pty., Ltd.			503,657		1,545		3,670		(19,006	)
KOSEP Australia Pty., Ltd.			25,174		521		5,357		4,028
KOMIPO Australia Pty., Ltd.			25,413		10		5,388		4,023
KOWEPO Australia Pty., Ltd.			25,550		10		5,357		4,012
KOSPO Australia Pty., Ltd.			25,625		10		5,357		4,033
KEPCO Middle East Holding Company			128,846		125,008		—		6,840
Qatrana Electric Power Company			546,123		417,800		18,866		19,601
KHNP Canada Energy, Ltd.			54,374		46		—		(6,304	)
KEPCO Bylong Australia Pty., Ltd.			220,721		277,358		—		(2,357	)
Korea Waterbury Uranium Limited Partnership			20,882		149		—		2,348
Korea Electric Power Nigeria Ltd.			696		493		9,794		35
KEPCO Holdings de Mexico			262		19		—		251
KST Electric Power Company			596,823		539,459		146,295		17,322
KEPCO Energy Service Company			1,309		310		5,337		580
KEPCO Netherlands S3 B.V.			55,609		54		—		3,731
PT. KOMIPO Pembangkitan Jawa Bali			16,246		4,549		21,632		8,989
PT. Cirebon Power Service			3,456		1,228		7,463		301
KOWEPO International Corporation			—		—		—		—
KOSPO Jordan LLC			11,524		687		7,321		317
EWP Philippines Corporation			1,966		955		—		(41	)
EWP America Inc.(*)			104,809		80,252		33,616		(8,704	)
KNF Canada Energy Limited			1,967		20		—		(46	)
PT KEPCO Resource Indonesia			913		18		—		(341	)
EWP Barbados 1 SRL			267,859		425		1,656		(902	)
Gyeonggi Green Energy Co., Ltd.			301,126		221,078		108,557		19,211
PT. Tanggamus Electric Power			184,861		167,641		40,903		2,041
Gyeongju Wind Power Co., Ltd.	￦		76,569		49,293		6,413		1,269
KOMIPO America Inc.			11,518		2,432		—		(2,240	)
KOSEP USA, INC.			159		39,028		3,791		(72,817	)
PT. EWP Indonesia			2,154		50		—		1,088
KEPCO Netherlands J3 B.V.			125,337		68		—		12,433
Korea Offshore Wind Power Co., Ltd.			37,826		2,048		—		(4,960	)
Global One Pioneer B.V.			161		22		—		(54	)
Global Energy Pioneer B.V.			338		22		—		(59	)
Mira Power Limited			178,141		133,730		—		(954	)
KOSEP Material Co., Ltd.			2,398		1,497		3,232		(901	)
Commerce and Industry Energy Co., Ltd.			99,432		87,316		28,375		(536	)
KEPCO Singapore Holdings Pte., Ltd.			2,568		13		—		(33	)
KOWEPO India Private Limited			879		—		—		1
KEPCO KPS Philippines Corp.			7,897		1,213		12,843		2,060
KOSPO Chile SpA			6,656		4,787		—		125
PT. KOWEPO Sumsel Operation and Maintenance Services			1,439		700		6,165		(96	)
HeeMang Sunlight Power Co., Ltd.			7,102		3,391		12		(308	)
Fujeij Wind Power Company			47,935		46,636		—		(873	)
KOSPO Youngnam Power Co., Ltd.			284,368		205,680		—		(931	)
HI Carbon Professional Private Special Asset Investment Trust 1 (formerly, Global One Carbon Private Equity Investment Trust 2)			3,002		—		—		9
Chitose Solar Power Plant LLC			49,728		38,806		—		(811	)
KEPCO Energy Solution Co. Ltd.			299,933		233		—		(300	)
Solar School Plant Co., Ltd.			200,268		259		1		9
KOSPO Power Services Limitada			4,385		1,262		7,300		2,963
Energy New Industry Specialized Investment Private Investment Trust			501,275		33		—		(7	)
KOEN Bylong Pty., Ltd.			6,135		—		—		—
KOMIPO Bylong Pty., Ltd.			6,135		—		—		—
KOWEPO Bylong Pty., Ltd.			6,135		—		—		—
KOSPO Bylong Pty., Ltd.			6,135		—		—		—
EWP Bylong Pty., Ltd.			6,135		—		—		—
KOWEPO Lao International			218		181		—		(108	)

(*)

Financial information of EWP America Inc. includes that of six other subsidiaries, EWP Renewable Co., DG Fairhaven Power, LLC, DG Whitefield, LLC, Springfield Power, LLC, California Power Holdings, LLC, and EWPRC Biomass Holdings, LLC.


2017
Subsidiaries		Total assets		Total liabilities		Sales		Profit (loss) for the period
		In millions of won
Korea Hydro & Nuclear Power Co., Ltd.	￦		55,011,096		29,252,816		9,415,751		854,346
Korea South-East Power Co., Ltd.			9,879,577		4,844,184		5,387,846		130,371
Korea Midland Power Co., Ltd.			9,893,822		6,148,173		4,167,009		104,591
Korea Western Power Co., Ltd.			9,660,426		5,739,534		4,199,079		110,939
Korea Southern Power Co., Ltd.			9,648,741		5,401,216		4,397,552		98,817
Korea East-West Power Co., Ltd.			8,855,518		4,204,187		4,644,330		217,599
KEPCO Engineering & Construction Company, Inc.			762,166		305,134		490,193		21,222
KEPCO Plant Service & Engineering Co., Ltd.			1,195,086		294,689		1,232,113		135,482
KEPCO Nuclear Fuel Co., Ltd.			792,187		421,088		279,664		4,557
KEPCO KDN Co., Ltd.			524,520		155,715		619,470		48,968
Garolim Tidal Power Plant Co., Ltd.			619		345		—		(12	)
KEPCO International HongKong Ltd.			153,529		1		—		4,380
KEPCO International Philippines Inc.			102,323		886		—		47,201
KEPCO Gansu International Ltd.			11,567		493		—		(29	)
KEPCO Philippines Holdings Inc.			127,922		2,621		—		43,218
KEPCO Philippines Corporation			6,293		114		—		2,098
KEPCO Ilijan Corporation			474,624		57,801		109,183		66,320
KEPCO Lebanon SARL			1,069		9,281		—		(219	)
KEPCO Neimenggu International Ltd.			165,937		—		—		500
KEPCO Shanxi International Ltd.			497,990		193,309		—		3,796
KOMIPO Global Pte Ltd.			225,411		1,497		—		21,858
KEPCO Canada Energy Ltd.			132		22		—		(32	)
KEPCO Netherlands B.V.			114,911		49		—		17,309
KOREA Imouraren Uranium Investment Corp.			151,278		131		—		1,490
KEPCO Australia Pty., Ltd.			466,654		569		—		(568	)
KOSEP Australia Pty., Ltd.			27,076		333		12,096		1,601
KOMIPO Australia Pty., Ltd.			31,441		4,691		12,096		1,133
KOWEPO Australia Pty., Ltd.			31,586		4,691		12,096		1,232
KOSPO Australia Pty., Ltd.			29,472		4,221		12,096		(2,759	)
KEPCO Middle East Holding Company			95,812		90,842		—		2,913
Qatrana Electric Power Company			460,206		327,401		18,892		23,310
KHNP Canada Energy, Ltd.			51,994		31		—		(92	)
KEPCO Bylong Australia Pty., Ltd.			242,364		277,549		—		20,271
Korea Waterbury Uranium Limited Partnership			20,886		136		—		(59	)
Korea Electric Power Nigeria Ltd.			238		76		2,164		29
KEPCO Holdings de Mexico			235		30		—		(20	)
KST Electric Power Company			546,242		478,230		120,126		16,154
KEPCO Energy Service Company			1,793		451		6,773		976
KEPCO Netherlands S3 B.V.			46,642		53		—		2,382
PT. KOMIPO Pembangkitan Jawa Bali			11,261		4,769		20,956		4,666
PT. Cirebon Power Service			2,808		155		7,439		592
KOWEPO International Corporation			—		8		—		(2	)
KOSPO Jordan LLC			24,077		13,594		7,331		953
EWP Philippines Corporation			1,708		836		—		(17	)
EWP America Inc.(*1)			79,854		67,308		23,543		(9,737	)
KNF Canada Energy Limited			1,884		31		—		(43	)
PT KEPCO Resource Indonesia			491		—		—		(311	)
EWP Barbados 1 SRL			235,096		450		—		(2,585	)
Gyeonggi Green Energy Co., Ltd.			282,408		199,160		95,192		3,203
PT. Tanggamus Electric Power			179,317		160,144		34,281		4,640
Gyeongju Wind Power Co., Ltd.			112,279		82,124		7,219		2,400
KOMIPO America Inc.			10,505		521		—		2,071
KOSEP USA, INC.			184		9,065		—		26,997


2017
Subsidiaries		Total assets		Total liabilities		Sales		Profit (loss) for the period
		In millions of won
PT. EWP Indonesia	￦		2,035		23		—		1,916
KEPCO Netherlands J3 B.V.			122,612		76		—		12,115
Korea Offshore Wind Power Co., Ltd.			190,195		1,985		—		(6,997	)
Global One Pioneer B.V.			151		38		—		(80	)
Global Energy Pioneer B.V.			309		41		—		(87	)
Mira Power Limited			208,150		163,198		—		737
KOSEP Material Co., Ltd.			2,751		1,448		3,128		320
Commerce and Industry Energy Co., Ltd.			99,129		87,926		30,577		(749	)
KEPCO Singapore Holdings Pte., Ltd.			3,265		4		—		(24	)
KOWEPO India Private Limited			781		—		—		(46	)
KEPCO KPS Philippines Corp.			6,636		235		6,840		555
KOSPO Chile SpA			133,570		50,109		—		1,066
PT. KOWEPO Sumsel Operation And Maintenance Services			1,350		279		7,651		659
HeeMang Sunlight Power Co., Ltd.			6,876		3,395		105		(229	)
Fujeij Wind Power Company			165,636		156,099		—		8,836
KOSPO Youngnam Power Co.,Ltd.			412,785		333,302		68,973		939
HI Carbon Professional Private Special Asset Investment Trust 1 (formerly, Global One Carbon Private Equity Investment Trust 2)			3,002		—		—		12
Chitose Solar Power Plant LLC			136,098		121,622		7,083		4,100
KEPCO Energy Solution Co. Ltd.			313,401		12,376		5,544		1,325
Solar School Plant Co., Ltd.			201,482		599		67		874
KOSPO Power Services Limitada			3,901		887		11,067		666
Energy New Industry Specialized Investment Private Investment Trust(*3)			506,207		2,118		—		52
KOEN Bylong Pty., Ltd.			5,875		—		—		—
KOMIPO Bylong Pty., Ltd.			5,875		—		—		—
KOWEPO Bylong Pty., Ltd.			5,875		—		—		—
KOSPO Bylong Pty., Ltd.			5,875		—		—		—
EWP Bylong Pty., Ltd.			5,875		—		—		—
KOWEPO Lao International			3,259		1,452		3,624		1,881
KEPCO US Inc.			16,913		—		—		—
KEPCO Alamosa LLC			33,144		492		—		(218	)
Cogentrix Solar Services, LLC(*2)			84,458		53,116		8,958		(112	)
KEPCO-LG CNS Mangilao Holdings LLC			24,131		24,395		—		(278	)
Mangilao Investment LLC			24,131		—		—		—
KEPCO-LG CNS Mangilao Solar, LLC			24,002		134		—		(278	)
Jeju Hanlim Offshore Wind Co., Ltd.			36		—		—		—
PT. Siborpa Eco Power			11,562		214		—		(518	)

(*1)

Financial information of EWP America Inc. includes that of six other subsidiaries, EWP Renewable Corporation, DG Fairhaven Power, LLC, DG Whitefield, LLC, Springfield Power, LLC, California Power Holdings, LLC, and EWPRC Biomass Holdings, LLC.

(*2)

Financial information of Cogentrix Solar Services, LLC includes that of two other subsidiaries, Solar Investments I, LLC and Cogentrix of Alamosa, LLC.

(*3)

Financial information of Energy New Industry Specialized Investment Private Investment Trust includes that of three other subsidiaries, BSK E-New Industry Fund VII, e-New Industry LB Fund 1 and Songhyun e-New Industry Fund.

Significant restrictions on abilities to subsidiaries

Significant restrictions on abilities to subsidiaries are as follows:


Company		Nature and extent of any significant restrictions
Gyeonggi Green Energy Co., Ltd.		Acquisition or disposal of assets of more than ￦35 billion, change in the capacity of cogeneration units (except for the change due to performance improvement of equipment, maintenance) will require unanimous consent of all directors.

KOSPO Youngnam Power Co., Ltd.		Dividends can only be paid when all conditions of the loan agreement are satisfied or prior written consent of financial institutions is obtained. Shares cannot be wholly or partially transferred without prior written consent of financial institutions.

Details of non-controlling interest prior to intra-group eliminations

Details of non-controlling interest prior to intra-group eliminations as of and for the years ended December 31, 2016 and 2017 are as follows:


2016
Description		KEPCO Ilijan Corporation			KEPCO Plant Service & Engineering Co., Ltd.			KEPCO Engineering & Construction Company, Inc.			Others			Total
		In millions of won
Percentage of ownership			49.00	%		49.00	%		33.92	%
Current assets	￦		154,758			553,924			270,553			1,211,510			2,190,745
Non-current assets			403,272			532,497			516,043			2,379,882			3,831,694
Current liabilities			(19,256	)		(264,506	)		(286,444	)		(297,510	)		(867,716	)
Non-current liabilities			(39,193	)		(36,984	)		(78,232	)		(1,919,924	)		(2,074,333	)
Net assets			499,581			784,931			421,920			1,373,958			3,080,390
Book value of non-controlling interest			244,794			384,616			143,115			684,093			1,456,618
Sales			116,667			1,214,304			506,012			674,461			2,511,444
Profit for the period			51,552			86,657			17,796			102,170			258,175
Profit for the period attributable to non-controlling interest			25,260			42,462			6,036			26,709			100,467
Cash flows from operating activities			102,546			121,240			18,748			84,086			326,620
Cash flows from investing activities			(117	)		79,807			(7,556	)		(367,674	)		(295,540	)
Cash flows from financing activities before dividends to non-controlling interest			(56,863	)		(39,911	)		(1,634	)		877,863			779,455
Dividends to non-controlling interest			(55,705	)		(36,139	)		(2,539	)		(22,054	)		(116,437	)
Effect of exchange rate fluctuation			1,529			127			(854	)		7,216			8,018
Net increase (decrease) of cash and cash equivalents			(8,610	)		125,124			6,165			579,437			702,116



2017
Description		KEPCO Ilijan Corporation			KEPCO Plant Service & Engineering Co., Ltd.			KEPCO Engineering & Construction Company, Inc.			Others			Total
		In millions of won
Percentage of ownership			49.00	%		49.00	%		33.92	%
Current assets	￦		160,588			623,934			257,529			1,269,175			2,311,226
Non-current assets			314,036			571,152			504,637			2,588,833			3,978,658
Current liabilities			(21,546	)		(278,562	)		(221,860	)		(394,320	)		(916,288	)
Non-current liabilities			(36,255	)		(16,127	)		(83,274	)		(2,014,925	)		(2,150,581	)
Net assets			416,823			900,397			457,032			1,448,763			3,223,015
Book value of non-controlling interest			204,243			441,194			155,025			612,245			1,412,707
Sales			109,183			1,232,113			490,193			719,087			2,550,576
Profit for the period			66,320			135,482			21,222			66,419			289,443
Profit for the period attributable to non-controlling interest			32,497			66,386			7,199			20,447			126,529
Cash flows from operating activities			123,534			129,801			62,578			60,021			375,934
Cash flows from investing activities			(5,276	)		(193,408	)		(8,622	)		(409,353	)		(616,659	)
Cash flows from financing activities before dividends to non-controlling interest			(44,442	)		(15,606	)		(55,504	)		339,432			223,880
Dividends to non-controlling interest			(48,855	)		(14,994	)		(1,419	)		(20,840	)		(86,108	)
Effect of exchange rate fluctuation			(7,432	)		(1,267	)		(101	)		(24,206	)		(33,006	)
Net increase (decrease) of cash and cash equivalents			17,529			(95,474	)		(3,068	)		(54,946	)		(135,959	)

Changes in goodwill

Details of goodwill as of December 31, 2016 and 2017 are as follows:


		2016		2017
		In millions of won
Acquisition cost	￦		2,582		2,582
Accumulated impairment			—		—

Carrying book value	￦		2,582		2,582

Disposals of subsidiaries

KEPCO Canada Uranium Investment Limited Partnership was dissolved and the Company liquidated DG Kings Plaza, LLC during the year ended December 31, 2016.

(i)

The fair value of proceeds from disposal as of December 31, 2016 is as follows:


		2016
		In millions of won
Cash received upon dissolution	￦		898
Net assets transferred due to dissolution			34,148

	￦		35,046

(ii)

The carrying value of assets and liabilities of subsidiaries as at the date the Company lost its control during the year ended December 31, 2016 are as follows:


		2016
		In millions of won
Current assets
Cash and cash equivalents	￦		898
Current financial assets, net			81
Non-current assets
Available-for-sale financial assets			34,089
Current liabilities
Current financial liabilities			(22	)

	￦		35,046

(iii)

Gain from disposals of subsidiaries for the year ended December 31, 2016 is as follows:


		2016
		In millions of won
Fair value of sale price	￦		35,046
Net assets disposed			(35,046	)
Non-controlling interests			—
Realization of unrealized gain			—
Other comprehensive income			—

Gain from disposals of subsidiaries	￦		—

(iv)

Net cash flow from sales of subsidiaries for the year ended December 31, 2016 is as follows:


		2016
		In millions of won
Consideration received in cash	￦		898
Less: cash held by disposed subsidiaries			(898	)

Net cash flow	￦		—

Cash dividends received from subsidiaries

Cash dividends received from subsidiaries for the years ended December 31, 2015, 2016 and 2017, respectively, are as follows:


Subsidiaries		2015		2016		2017
		In millions of won
Korea Hydro & Nuclear Power Co., Ltd.	￦		446,399		635,200		543,072
Korea South-East Power Co., Ltd.			57,485		124,169		106,546
Korea Midland Power Co., Ltd.			16,580		23,073		54,305
Korea Western Power Co., Ltd.			22,749		36,238		66,992
Korea Southern Power Co., Ltd.			10,272		17,849		60,630
Korea East-West Power Co., Ltd.			25,280		67,906		94,430
KEPCO Engineering & Construction Company, Inc.			14,574		5,069		2,765
KEPCO Plant Service & Engineering Co., Ltd.			40,584		39,911		15,607
KEPCO Nuclear Fuel Co., Ltd.			6,280		3,411		3,231
KEPCO KDN Co., Ltd.			4,046		3,392		4,352
KEPCO International HongKong Ltd.			25,826		9,107		4,304
KEPCO International Philippines Inc.			32,891		61,862		44,906
KEPCO Ilijan Corporation			38,128		57,979		50,849
KEPCO Philippines Holdings Inc.			19,221		17,747		26,023
KEPCO Neimenggu International Ltd.			25,338		10,735		—
KOMIPO Global Pte Ltd.			—		10,432		—
Qatrana Electric Power Company			16,857		8,331		5,939
KOSPO Jordan LLC			—		1,095		—
KEPCO Energy Service Company			—		294		—
EWP Philippines Corporation			5,586		—		—
KEPCO Netherlands S3 B.V.			1,382		—		—
PT. KOMIPO Pembangkitan Jawa Bali			3,169		3,222		3,188
KEPCO Netherlands J3 B.V.			19,254		12,507		—
Gyeongju Wind Power Co., Ltd.			1,294		679		—
Energy New Industry Specialized Investment Private Investment Trust			—		—		291
HI Carbon Professional Private Special Asset Investment Trust 1 (formerly, Global One Carbon Private Equity Investment Trust 2)			—		—		11
KOSPO Power Services Limitada			—		—		425
Cogentrix Solar Services, LLC			—		—		344

	￦		833,195		1,150,208		1,088,210