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Retained Earnings and Dividends Paid (Tables)
 12 Months Ended
Dec. 31, 2017
Disclosure of Retained Earnings and Dividends Paid [Abstract]  
Retained Earnings

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

 

            2016      2017  
            In millions of won  

Legal reserve(*)

    ￦        1,604,910        1,604,910  

Voluntary reserves

         31,847,275        34,833,844  

Retained earnings before appropriations

         19,721,686        16,931,804  
     

 

 

     

 

 

  

Retained earnings

    ￦        53,173,871        53,370,558  
     

 

 

     

 

 

  

 

  (*) The KEPCO Act requires KEPCO to appropriate a legal reserve equal to at least 20 percent of net income for each accounting period until the reserve equals 50 percent of KEPCO’s common stock. The legal reserve is not available for cash dividends; however, this reserve may be credited to paid-in capital or offset against accumulated deficit by the resolution of the shareholders.
Voluntary reserves
Details of voluntary reserves as of December 31, 2016 and 2017 are as follows:

 

            2016      2017  
            In millions of won  

Reserve for investment on social overhead capital

    ￦        5,277,449        5,277,449  

Reserve for research and human development(*)

         330,000        330,000  

Reserve for business expansion

         26,029,826        29,016,395  

Reserve for equalizing dividends

         210,000        210,000  
     

 

 

     

 

 

  
   ￦        31,847,275        34,833,844  
     

 

 

     

 

 

  

 

  (*) The reserve for research and human development is appropriated by KEPCO to use as qualified tax credits to reduce corporate tax liabilities. The reserve is available for cash dividends for a certain period as defined by the Restriction of Special Taxation Act of Korea.
Changes in Retained Earnings
Changes in retained earnings for the years ended December 31, 2016 and 2017 are as follows:

 

           2016      2017  
           In millions of won  

Beginning balance

   ￦        48,187,241        53,173,871  

Net profit for the period attributed to owner of the Company

        7,048,581        1,298,720  

Changes in equity method retained earnings

        (2,532 )       10,065  

Remeasurements of defined benefit liability, net of tax

        (69,330 )       158,991  

Dividend paid

        (1,990,089 )       (1,271,089 ) 
    

 

 

     

 

 

  

Ending balance

   ￦        53,173,871        53,370,558  
    

 

 

     

 

 

  
Dividends Paid

Dividends paid for the years ended December 31, 2016 and 2017 are as follows:

 

    2015  

In millions of won

   Number of
shares issued		     Number of
treasury stocks		     Number of
shares eligible for
dividends		           Dividends paid
per share		     Dividends
paid		  
                            (In won)        

Common shares

     641,964,077       —         641,964,077     ￦       500       320,982  

 

    2016  

In millions of won

   Number of
shares issued		     Number of
treasury stocks		     Number of
shares eligible for
dividends		           Dividends paid
per share		     Dividends
paid		  
                            (In won)        

Common shares

     641,964,077       —         641,964,077     ￦       3,100       1,990,089  

 

    2017  

In millions of won

   Number of
shares issued		     Number of
treasury stocks		     Number of
shares eligible for
dividends		           Dividends paid
per share		     Dividends
paid		  
                            (In won)        

Common shares

     641,964,077       —         641,964,077     ￦       1,980       1,271,089  
Changes in retained earnings of investments in associates and joint ventures

Changes in retained earnings of investments in associates and joint ventures for the years ended December 31, 2016 and 2017 are as follows:

 

            2016      2017  
            In millions of won  

Beginning balance

    ￦        (2,411 )       (4,943 ) 

Changes

         (2,532 )       10,065  
     

 

 

     

 

 

  

Ending balance

    ￦        (4,943 )       5,122  
     

 

 

     

 

 

  
Changes in retained earnings of remeasurement components
Changes in remeasurement components for the years ended December 31, 2016 and 2017 are as follows:

 

          2016     2017  
          In millions of won  

Beginning balance

   ￦       (202,878 )      (222,997 ) 

Changes

       (119,316 )      239,636  

Income tax effect

       49,986       (80,645 ) 

Transfer to reserve for business expansion

       49,211       20,493  
   

 

 

    

 

 

  

Ending balance

   ￦       (222,997 )      (43,513 )