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Related parties (Tables)

12 Months Ended

Dec. 31, 2019

Related party transactions for the years ended December 31, 2017, 2018 and 2019 are as follows:

<Sales and Others>


				Sales and others
Company name	Transaction type			2017		2018		2019
				In millions of won
<Associates>
Dongducheon Dream Power Co., Ltd.		Electricity sales	￦		17,041		6,093		7,071
Korea Gas Corporation		Electricity sales			88,011		99,933		116,484
Daejung Offshore Wind Power Co., Ltd.		Electricity sales			1		1		1
Daegu Photovoltaic Co., Ltd.		Electricity sales			349		128		327
KS Solar Co., Ltd.		Electricity sales			5		—		—
Heang Bok Do Si Photovoltaic Power Co., Ltd.		Electricity sales			2		2		2
Korea Electric Power Industrial Development Co., Ltd.		Service			14,044		10,422		11,085
Goseong Green Energy Co., Ltd.		Electricity sales			24,069		10,024		19,245
Gangneung Eco Power Co., Ltd.		Service			2,391		4,928		7,446
Shin Pyeongtaek Power Co., Ltd.		Electricity sales			9,025		8,468		21,218
Naepo Green Energy Co., Ltd.		Electricity sales			185		160		154
Noeul Green Energy Co., Ltd.		Electricity sales			32		30		30
Samcheok Eco Materials Co., Ltd.		Electricity sales			237		605		627
YTN Co., Ltd.		Electricity sales			1,987		2,043		2,257
Busan Green Energy Co., Ltd.		Electricity sales			120		19		18
Gunsan Bio Energy Co., Ltd.		Electricity sales			—		3,611		4,755
Korea Electric Vehicle Charging Service		Electricity sales			700		578		1,029
Tamra Offshore Wind Power Co., Ltd.		Electricity sales	￦		55		58		—
Daegu clean Energy Co., Ltd.		Electricity sales			421		126		—
Cheongna Energy Co., Ltd.		Service			7,980		11,688		9,922
Gangwon Wind Power Co., Ltd.		Electricity sales			994		2,402		2,433
Gwangyang Green Energy Co., Ltd.		Electricity sales			—		874		122
Hyundai Green Power Co., Ltd.		Design service			14,280		14,031		13,106
Korea Power Exchange		Service			8,446		6,854		7,670
Hyundai Energy Co., Ltd.		Service			15,627		1,718		3,437
Taebaek Wind Power Co., Ltd.		Service			813		614		991
Taeback Guinemi Wind Power Co., Ltd.		Electricity sales			—		—		77
Pyeongchang Wind Power Co., Ltd.		Design service			1,176		1,166		1,189
Daeryun Power Co., Ltd.		Electricity sales			1,796		1,731		1,879
Changjuk Wind Power Co., Ltd.		Electricity sales			788		758		927
GS Donghae Power Co., Ltd.		Electricity sales			11,204		7,238		15,792
KNH Solar Co., Ltd.		Electricity sales			17		17		17
S-Power Co., Ltd.		Service			12,852		9,118		6,535
PND solar Co., Ltd		Electricity sales			—		12		407
Hyundai Ecoenergy Co., Ltd.		Electricity sales			—		—		117
YeongGwang Yaksu Wind Electric. Co., Ltd.		Electricity sales			—		—		81
Korea Energy Solution Co., Ltd.		Electricity sales			—		—		52
Suwon New Power Co., Ltd.		Electricity sales			—		—		5,606
9 Associates (Overseas)		Electricity sales and others			21,864		60,318		98,450

<Joint ventures>
Daegu Green Power Co., Ltd.		Electricity sales			1,131		1,022		1,151
KAPES, Inc.		Commission			1,420		648		504
Dangjin Eco Power Co., Ltd.		Technical fee			670		3,424		4
Honam Wind Power Co., Ltd.		Electricity sales			552		415		657
Jeongam Wind Power Co., Ltd.		Electricity sales			30		724		1,198
Korea Power Engineering Service Co., Ltd.		Service			1,317		840		348
Seokmun Energy Co., Ltd.		Service			1,765		1,897		1,495
Incheon New Power Co., Ltd.		Construction revenue			539		568		354
Chun-cheon Energy Co., Ltd.		Electricity sales			4,855		2,471		2,397
Yeonggwangbaeksu Wind Power Co., Ltd.		Electricity sales			1,654		1,540		1,744
Yeonggwang Wind Power Co., Ltd.		Electricity sales			—		46		705
KW Nuclear Components Co., Ltd.		Service			644		839		721
KEPCO-Uhde Inc.		Service			34		17		15
Busan Shinho Solar Power Co., Ltd.		Electricity sales			87		362		452
Daesan Green Energy Co., Ltd.		Electricity sales			—		—		39
Cheong-Song Noraesan Wind Power Co., Ltd.		Electricity sales			—		—		6
Saemangeum Solar Power Co., Ltd.		Service			—		—		2,230
Jaeun Resident Wind Power Plant Co., Ltd.		Electricity sales			—		—		105
25 Joint ventures (Overseas)		Electricity sales and others			131,343		206,054		1,275,279

<Others>
Yeongwol Energy Station Co., Ltd.		Service			830		373		—
DS POWER Co., Ltd.		Service			5,819		565		—
Ulleungdo Natural Energy Co., Ltd.		Service			1,013		292		—
Korea Development Bank		Electricity sales			3,239		3,524		3,948
		Interest income			1,685		4,438		2,091

<Purchase and Others>


				Purchase and others
Company name	Transaction type			2017		2018		2019
				In millions of won
<Associates>
Dongducheon Dream Power Co., Ltd.		Electricity purchase	￦		813,440		828,547		689,510
Korea Gas Corporation		Purchase of power generation fuel			3,245,519		5,191,243		4,049,486
Daegu Photovoltaic Co., Ltd.		REC purchase			3,646		3,745		3,626
KS Solar Co., Ltd.		REC purchase			900		—		—
Heang Bok Do Si Photovoltaic Power Co., Ltd.		Rental fee and others			570		455		450
Korea Electric Power Industrial Development Co., Ltd.		Electricity metering service fee			289,293		261,668		245,057
Goseong Green Energy Co., Ltd.		Electricity purchase			—		—		32
Gangneung Eco Power Co., Ltd.		Service			—		19		—
Shin Pyeongtaek Power Co., Ltd.		Electricity purchase			—		—		119,162
Noeul Green Energy Co., Ltd.		REC purchase			15,862		18,282		22,767
Samcheok Eco Materials Co., Ltd.		Electricity purchase			14		3,819		9,425
YTN Co., Ltd.		Electricity purchase			731		322		333
Busan Green Energy Co., Ltd.		Electricity purchase			12,189		25,123		13,811
Gunsan Bio Energy Co., Ltd.		Electricity purchase			—		—		3,022
Korea Electric Vehicle Charging Service		Electricity purchase			1,093		605		536
Tamra Offshore Wind Power Co., Ltd.		Electricity purchase			2,105		8,371		—
Cheongna Energy Co., Ltd.		Service			59		58		58,747
YaksuESS Co., Ltd		Service			—		—		1,191
Gangwon Wind Power Co., Ltd.		Electricity purchase			25,968		25,407		24,116
Hyundai Green Power Co., Ltd.		Electricity purchase			458,378		480,815		507,662
Korea Power Exchange		Trading Fees			207,855		137,489		120,509
Hyundai Energy Co., Ltd.		Electricity purchase			87,607		3,445		2,847
Taebaek Wind Power Co., Ltd.		REC purchase			6,534		8,582		7,070
Taeback Guinemi Wind Power Co., Ltd.		Electricity purchase			—		—		349
Pyeongchang Wind Power Co., Ltd.		Service			4,033		6,994		5,188
Daeryun Power Co., Ltd.		Electricity purchase			146,189		184,063		144,862
Changjuk Wind Power Co., Ltd.		Electricity purchase			6,981		7,929		6,994
GS Donghae Electric Power Co., Ltd.		Electricity purchase			351,367		780,233		681,379
KNH Solar Co., Ltd.		Electricity purchase			3,947		3,586		3,377
S-Power Co., Ltd.		Electricity purchase			457,329		507,875		522,469
Hadong Mineral Fiber Co., Ltd.		Service			—		60		—
Green Biomass Co., Ltd.		Woodchip purchase			1,345		440		—
YeongGwang Yaksu Wind Electric. Co., Ltd		Electricity purchase			—		2,437		6,511
PND solar., Ltd		Service			—		—		557
Hyundai Ecoenergy Co., Ltd.		Electricity purchase			—		—		6,810
Korea Energy Solution Co., Ltd.		Electricity purchase			—		—		15
9 Associates (Overseas)		Electricity purchase and others			72		31		—

<Joint ventures>
Daegu Green Power Co., Ltd.		Electricity purchase			252,024		287,008		296,464
KAPES, Inc.		Service			164,165		77,758		142,511
Honam Wind Power Co., Ltd.		Electricity purchase			5,962		7,700		5,306
Korea Power Engineering Service Co., Ltd.		Service			1,292		1,765		1,774
Seokmun Energy Co., Ltd.		REC purchase			21,674		31,759		26,370
Chun-cheon Energy Co., Ltd.		REC purchase			194,136		320,954		313,471
Yeonggwangbaeksu Wind Power Co., Ltd.		Electricity purchase			11,124		11,366		11,739
Yeonggwang Wind Power Co., Ltd.		Electricity purchase			—		—		11,940
Busan Shinho Solar Power Co., Ltd.		REC purchase			7,984		7,901		7,843
Global Trade Of Power System Co., Ltd.		Service			414		565		502
Expressway Solar-light Power Generation Co., Ltd.		Electricity purchase			2,941		3,513		3,067
25 Joint ventures (Overseas)		Electricity purchase and others			2,785		1,404		7,232

<Others>
Yeongwol Energy Station Co., Ltd.		REC purchase			14,256		4,019		—
Ulleungdo Natural Energy Co., Ltd.		Service			119		63		—
Korea Development Bank		Interest expense			4,573		5,043		4,063
		Dividend paid			418,407		166,876		20

Receivables and payables arising from related party transactions

Receivables and payables arising from related party transactions as of December 31, 2018 and 2019 are as follows:


			Receivables				Payables
Company name	Type		2018		2019		2018		2019
			In millions of won
<Associates>
Dongducheon Dream Power Co., Ltd.	Trade receivables	￦		332		323		—		—
	Non-trade receivables and others			298		267		—		—
	Trade payables			—		—		74,651		85,920
	Non-trade payables and others			—		—		10		12
Korea Gas Corporation	Trade receivables			9,439		9,267		—		—
	Non-trade receivables and others			498		38		—		—
	Trade payables			—		—		601,092		462,138
	Non-trade payables and others			—		—		314		560
Daegu Photovoltaic Co., Ltd.	Trade payables			—		—		83		69
Korea Power Engineering Service Co., Ltd.	Trade receivables			—		74		—		—
Korea Electric Power Industrial Development Co., Ltd.	Trade receivables			278		243		—		—
Korea Electric Power Industrial Development Co., Ltd.	Non-trade receivables and others			51		43		—		—
	Trade payables			—		—		—		3,756
	Non-trade payables and others			—		—		13,102		3,827
Goseong Green Energy Co., Ltd.	Trade receivables			—		103		—		—
	Non-trade receivables and others			—		5,285		—		—
	Non-trade payables and others			—		—		43,020		65,626
Gangneung Eco Power Co., Ltd.	Trade receivables			1		115		—		—
	Non-trade receivables and others			99		65		—		—
Shin Pyeongtaek Power Co., Ltd.	Trade receivables			123		1,013		—		—
	Non-trade receivables and others			242		2,281		—		—
	Trade payables			—		—		—		64,696
	Non-trade payables and others			—		—		82		61
Naepo Green Energy Co., Ltd.	Trade receivables			17		18		—		—
Noeul Green Energy Co., Ltd.	Trade receivables			3		3		—		—
	Non-trade payables and others			—		—		8,774		1,855
Samcheok Eco Materials Co., Ltd.	Trade receivables			61		59		—		—
YTN Co., Ltd.	Trade receivables			98		97		—		—
	Non-trade payables and others			—		—		11		—
Busan Green Energy Co., Ltd.	Trade receivables			1		1		—		—
	Non-trade payables and others			—		—		10,882		606
Gunsan Bio Energy Co., Ltd.	Non-trade receivables and others			3,458		—		—		—
Korea Electric Vehicle Charging Service	Trade receivables			69		137		—		—
	Non-trade receivables and others			354		529		—		—
	Non-trade payables and others			—		—		56		—
Daegu Clean Energy Co., Ltd.	Non-trade receivables and others			17		—		—		—
Cheongna Energy Co., Ltd.	Trade receivables			183		1,074		—		—
Yaksu ESS Co., Ltd.	Trade payables			—		—		—		525
Gangwon Wind Power Co., Ltd.	Trade receivables			10		7		—		—
	Trade payables			—		—		2,547		2,979
Gwangyang Green Energy Co., Ltd.	Non-trade receivables and others			—		1,334		—		—
Hyundai Green Power Co., Ltd.	Trade receivables			390		502		—		—
	Trade payables			—		—		38,072		41,587
Korea Power Exchange	Trade receivables			847		1,142		—		—
	Non-trade receivables and others			229		114		—		—
	Non-trade payables and others			—		—		1,214		4,160
Hyundai Energy Co., Ltd.	Trade receivables			57		128		—		—
	Non-trade receivables and others			9,664		12,532		—		—
	Trade payables			—		—		259		175
	Non-trade payables and others			—		—		8,021		9,178


				Receivables				Payables
Company name	Type			2018		2019		2018		2019
				In millions of won
<Associates>
Ecollite Co., Ltd.		Non-trade receivables and others	￦		210		210		—		—
Taebaek Wind Power Co., Ltd.		Trade payables			—		—		453		358
		Non-trade payables and others			—		—		291		243
Taebaek Guinemi Wind Power Co., Ltd.		Non-trade receivables and others			—		2		—		—
		Trade payables			—		—		—		190
Pyeongchang Wind Power Co., Ltd.		Trade receivables			4		4		—		—
		Non-trade payables			—		—		25		—
Daeryun Power Co., Ltd.		Trade receivables			178		144		—		—
		Trade payables			—		—		15,845		19,843
Changjuk Wind Power Co., Ltd.		Trade payables			—		—		455		447
		Non-trade payables and others			—		—		273		280
GS Donghae Electric power Co., Ltd.		Trade receivables			245		175		—		—
		Non-trade receivables and others			2,537		367		—		—
		Trade payables			—		—		69,820		69,811
		Non-trade payables and others			—		—		59		16
KNH Solar Co., Ltd.		Trade receivables			1		1		—		—
S-Power Co., Ltd.		Trade receivables			922		89		—		—
		Non-trade receivables and others			34		43		—		—
		Trade payables			—		—		56,897		53,705
		Non-trade payables and others			—		—		16		—
PND solar., Ltd.		Trade receivables			3		—		—		—
Hyundai Ecoenergy Co., Ltd.		Trade receivables			—		16		—		—
YeongGwang Yaksu Wind Electric. Co., Ltd.		Trade receivables			—		5		—		—
		Trade payables			—		—		2,679		—
Cheong-Song Noraesan Wind Power Co., Ltd.		Trade receivables			—		1		—		—
Suwon New Power Co., Ltd.		Non-trade receivables and others			—		2,939		—		—
4 Associates (Overseas)		Non-trade receivables and others			455		1,112		—		—

<Joint ventures>
Daegu Green Power Co., Ltd.		Trade receivables			110		113		—		—
		Non-trade receivables and others			12		1		—		—
		Trade payables			—		—		32,609		28,980
KAPES, Inc.		Trade receivables			—		1		—		—
		Non-trade receivables and others			253		—		—		—
		Non-trade payables and others			—		—		338		50,738
Dangjin Eco Power Co., Ltd.		Trade receivables			—		2		—		—
		Non-trade receivables and others			18		—		—		—
Honam Wind Power Co., Ltd.		Trade payables			—		—		432		347
		Non-trade payables			—		—		3,573		1,671
Jeongam Wind Power Co., Ltd.		Trade receivables			151		165		—		—
		Non-trade payables and others			—		—		2		6
Korea Power Engineering Service Co., Ltd.		Non-trade receivables			—		74		—		—
Seokmun Energy Co., Ltd.		Trade receivables	￦		39		51		—		—
		Non-trade receivables			303		136		—		—
		Non-trade payables			—		—		5,043		4,750
Incheon New Power Co., Ltd.		Trade receivables			128		—		—		—
Chun-cheon Energy Co., Ltd.		Trade receivables			20		260		—		—
		Non-trade receivables and others			308		5,362		—		—
		Trade payables			—		—		33,796		23,438
<Joint ventures>
Yeonggwangbaeksu Wind Power Co., Ltd.		Trade receivables			7		6		—		—
		Non-trade receivables			—		157		—		—
		Trade payables			—		—		736		671
		Non-trade payables			—		—		789		1,526
Yeonggwang Wind Power Co., Ltd.		Trade receivables			10		10		—		—
		Non-trade receivables and others			—		54		—		—
		Non-trade payables and others			—		—		—		2,432
KW Nuclear Components Co., Ltd.		Trade receivables			4		4		—		—
		Non-trade receivables and others			31		15		—		—
KEPCO-Uhde Inc.		Non-trade payables			—		—		4		9
Busan Shinho Solar Power Co., Ltd.		Trade receivables			2		2		—		—
		Trade payables			—		—		175		148
		Non-trade payables			—		—		717		733
Daesan Green Energy Co., Ltd.		Trade receivables			—		6		—		—
Cheong-Song Noraesan Wind Power Co., Ltd.		Trade receivables			—		1		—		—
Saemangeum Solar Power Co., Ltd.		Non-trade receivables and others			—		2,197		—		—
14 Joint ventures (Overseas)		Trade receivables			30,208		51,700		—		—
		Non-trade receivables and others			740		13,652		—		—
		Non-trade payables and others			—		—		18,379		87,404

<Others>
Korea Development Bank		Accrued interest income			1,147		1,630		—		—
		Non-trade receivables and others			12,125		146,416		—		—
		Non-trade payables and others			—		—		218		152
		Derivatives			27,306		41,368		18,095		6,531

Loans and others arising from related party transactions

Loans and others arising from related party transactions as of December 31, 2018 and 2019 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.	￦		27,634			132			—			910			28,676
	(Allowance for doubtful accounts)			(6,065	)		—			—			(1,260	)		(7,325	)
Associates	PT. Cirebon Electric Power			8,696			—			(8,900	)		782			578
Associates	Xe-Pian Xe-Namnoy Power Co., Ltd.			1,413			20,148			—			(606	)		20,955
Associates	PT. Wampu Electric Power			14,880			—			—			1,622			16,502
Associates	Gunsan Bio Energy Co., Ltd.			9,396			3,000			—			—			12,396
	(Allowance for doubtful accounts)			—			(10,128	)		—			—			(10,128	)
Associates	Hyundai Energy Co., Ltd.	￦		2,465			—			—			—			2,465
	(Allowance for doubtful accounts)			(2,465	)		—			—			—			(2,465	)
Joint ventures	Recursos Solares PV de Mexico II SA DE CV			—			1,054			—			1			1,055
Joint ventures	Horus Solar SA DE CV			—			3,320			—			3			3,323
Joint ventures	SUNMEX RENOVABLES SA DE CV			—			144			—			—			144
Joint ventures	Kelar S.A			48,694			—			(8,320	)		1,784			42,158
Joint ventures	Chester Solar IV SpA			—			1,688			(1,688	)		—			—
Joint ventures	Chester Solar V SpA			—			535			(535	)		—			—
Joint ventures	Diego de Almagro Solar SpA			—			2,101			(2,101	)		—			—
Joint ventures	Chun-cheon Energy Co., Ltd.			616			4,441			—			—			5,057
Joint ventures	Dangjin Eco Power Co., Ltd. (before the spin-off)			—			2,600			(2,600	)		—			—
Joint ventures	DE energia SpA			—			6,799			—			(167	)		6,632
Joint ventures	Eumseong Natural Gas Power Co., Ltd.(*1)			—			20,000			(20,000	)		—			—

		￦		105,264			55,834			(44,144	)		3,069			120,023

(*1)	Eumseong Natural Gas Power Co., Ltd. was established by spin-off from Dangjin Eco Power Co., Ltd. and merged by the Company during the year ended December 31, 2019.

Borrowings arising from related party transactions

Borrowings arising from related party transactions as of December 31, 2018 and 2019 are as follows:


Related parties	Type		Beginning balance		Borrowings		Repayment			Others			Ending balance
			In millions of won
Korea Development Bank	Facility	￦		66,793		5,700		(12,648	)		—			59,845
	Others			4,154		—		(654	)		—			3,500
	Operating funds			81,000		172,442		(73,992	)		(450	)		179,000
	Syndicated Loan			17,277		—		(1,055	)		863			17,085

Guarantees provided to associates or joint ventures

Guarantees provided to associates or joint ventures as of December 31, 2019 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	Shuweihat Asia Power Investment B.V.

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

Korea Electric Power Corporation	Nghi Son 2 Power LLC	Performance guarantees		USD 70,000	SMBC Ho Chi Minh and others
Korea Electric Power Corporation	Barakah One Company	Debt guarantees		USD 900,000	Export-Import Bank of Korea and others

		Performance guarantees and others		USD 4,430,240

Korea Electric Power Corporation	RE Holiday Holdings LLC	Performance guarantees		USD 223,000	EPS Renewables Holdings, LLC, Santander Bank and others

Korea Electric Power Corporation	RE Pioneer Holdings LLC	Performance guarantees		USD 170,000	EPS Renewables Holdings, LLC, Santander Bank and others

Korea Electric Power Corporation	RE Barren Ridge 1 Holdings LLC	Performance guarantees		USD 149,000	EPS Renewables Holdings, LLC, Santander Bank and others

Korea Electric Power Corporation	Rabigh Electricity Company	Performance guarantees		SAR 6,508	Hana Bank

Korea Electric Power Corporation		Debt guarantees		SAR 80,000

Korea Electric Power Corporation	Shuweihat Asia Power Investment B.V.	Performance guarantees		USD 100,000	ING Bank

Korea Electric Power Corporation	Amman Asia Electric Power Company

Korea Western Power Co., Ltd.	Cheongna Energy Co., Ltd.	Collateralized money invested		KRW 1,411	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		KRW 72,935
		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 2,060	Korea Development Bank

Korea Western Power Co., Ltd.	Dongducheon Dream Power Co., Ltd.	Collateralized money invested(*7)		KRW 41,531	Kookmin Bank and others
		Debt guarantees		KRW 20,300	BNK Securities and others

Korea Western Power Co., Ltd.	PT. Mutiara Jawa	Collateralized money invested		KRW 1,438	Woori Bank Nonghyup Bank
Korea Western Power Co., Ltd.	Haeng Bok Do Si Photovoltaic Power Co., Ltd.	Collateralized money invested		KRW 215	Woori Bank Nonghyup Bank

Korea Western Power Co., Ltd.	Shin Pyeongtaek Power Co., Ltd.	Collateralized money invested		KRW 66,956	Kookmin Bank
		Guarantees for supplemental funding(*1)		—	Kookmin Bank and others

Korea East-West Power Co., Ltd.	Busan Shinho Solar Power Co., Ltd.	Collateralized money invested		KRW 5,045	Korea Development Bank and others

Korea East-West Power Co., Ltd.	Seokmun Energy Co., Ltd.	Collateralized money invested		KRW 17,342	Kookmin Bank and others
		Guarantees for supplemental funding(*1)		—

Korea East-West Power Co., Ltd.	Chun-cheon Energy Co., Ltd.	Collateralized money invested		KRW 34,872	Kookmin Bank and others
		Guarantees for supplemental funding(*1)		KRW 20,000
Korea East-West Power Co., Ltd.	Honam Wind Power Co., Ltd.	Collateralized money invested		KRW 4,375	Shinhan Bank and others
		Guarantees for supplemental funding(*1)		—

Korea East-West Power Co., Ltd.	GS Donghae Electric Power Co., Ltd.	Collateralized money invested		KRW 255,983	Korea Development Bank and others
		Guarantees for supplemental funding(*1)		—

Korea East-West Power Co., Ltd.	Yeonggwangbaeksu Wind Power Co., Ltd.	Collateralized money invested		KRW 3,040	Kookmin Bank and others

Korea East-West Power Co., Ltd.	Yeonggwang Wind Power Co., Ltd.	Collateralized money invested		KRW 17,627	KDB Capital Corporation and others
		Guarantees for supplemental funding(*1)		—

Korea East-West Power Co., Ltd.	Daesan Green Energy Co., Ltd.	Collateralized money invested		KRW 17,182	IBK
		Guarantees for supplemental funding(*1)		KRW 18,989	IBK

Korea East-West Power Co., Ltd.	Taebaek Gadeoksan Wind Power Co., Ltd.	Collateralized money invested		KRW 7,846	Samsung Fire & Marine Insurance Co., Ltd. and others

Korea East-West Power Co., Ltd.	PT. Tanjung Power Indonesia	Debt guarantees		USD 24,544	Sumitomo Mitsui Banking Corporation
		Other guarantees		USD 3,150	PT Adaro Indonesia
		Guarantees for supplemental funding(*1)		—	Sumitomo Mitsui Banking Corporation and others
		Collateralized money invested		KRW 34,327	MUFG and others

Korea East-West Power Co., Ltd.	South Jamaica Power Company Limited	Performance guarantees		USD 14,400	Societe Generale
		Collateralized money invested		KRW 13,863	JCSD Trustee Services Limited and others

EWP Barbados 1 SRL	South Jamaica Power Company Limited	Guarantees for supplemental funding(*1, 3)		—	JCSD Trustee Services Limited and others

Korea East-West Power Co., Ltd.	DE Energia SpA	Collateralized money invested		KRW 8,665	Mirae Asset Daewoo Co., Ltd. and others

Korea East-West Power Co., Ltd.		Debt guarantees		KRW 6,632

Korea Southern Power Co., Ltd.	KNH Solar Co., Ltd.	Collateralized money invested		KRW 2,382	Shinhan Bank and Kyobo Life Insurance Co., Ltd.
		Performance guarantees and guarantees for supplemental funding(*1)		—

Korea Southern Power Co., Ltd.	Daeryun Power Co., Ltd.	Collateralized money invested		KRW 26,247	Korea Development Bank and others
		Guarantees for supplemental funding and others(*1)		KRW 8,000

Korea Southern Power Co., Ltd.	Daegu Green Power Co., Ltd.	Collateralized money invested		KRW 22,824	Shinhan Bank and others
		Performance guarantees		—

Korea Southern Power Co., Ltd.	Kelar S.A	Performance guarantees		USD 61,692	Hana Bank, MUFG

Korea Southern Power Co., Ltd.	Daehan Wind Power PSC	Debt guarantees(*9)		USD 16,000	Shinhan Bank
		Performance guarantees		USD 3,600
		Debt guarantees(*9)		USD 240
		Performance Debt guarantees(*9)		USD 1,898	Hana Bank

Korea Southern Power Co., Ltd.	Pyeongchang Wind Power Co., Ltd.	Collateralized money invested		KRW 5,877	Woori Bank and Shinhan Bank and others
		Performance guarantees		—

Korea Southern Power Co., Ltd.	Taebaek Guinemi Wind Power Co., Ltd.	Collateralized money invested		KRW 2,553	IBK
		Guarantees for supplemental funding(*1)		—

Korea Southern Power Co., Ltd.	Jeongam Wind Power Co., Ltd.	Guarantees for supplemental funding(*1) and performance guarantees		—	SK Securities.Co., LTD., KDB Capital Corporation, and others
		Collateralized money invested		KRW 4,437

Korea Southern Power Co., Ltd.	Taebaek Wind Power Co., Ltd.	Guarantees for supplemental funding(*1)		—	Shinhan Bank and others

Korea Southern Power Co., Ltd.	Samcheok Eco Materials Co., Ltd.	Payment guarantees(*4,7)		—	SEM Investment Co., Ltd.

Kospo Chile SpA	Kelar S.A.	Collateralized money invested		KRW 70,462	Export-Import Bank of Korea and others
	Chester Solar I SpA	Collateralized money invested		KRW 1,157	IBK
	Chester Solar IV SpA	Collateralized money invested		KRW 672
	Chester Solar V SpA	Collateralized money invested		KRW 146
	Diego de Almagro Solar Spa	Collateralized money invested		KRW 1,035
	Laurel SpA	Collateralized money invested		KRW 595

Korea Midland Power Co., Ltd.	YeongGwang Yaksu Wind Electric. Co., Ltd.	Collateralized money invested		KRW 386	IBK and others

Korea Midland Power Co., Ltd.	Hyundai Green Power Co., Ltd.	Collateralized money invested		KRW 124,253	Korea Development Bank and others

Korea Midland Power Co., Ltd.	PT. Cirebon Electric Power	Debt guarantees		USD 11,248	Mizuho Bank

Korea Midland Power Co., Ltd.	PT. Wampu Electric Power	Debt guarantees		USD 4,854	SMBC

Korea Midland Power Co., Ltd.	Green Energy Electricity Generation Co., Ltd.	Collateralized money invested		KRW 163	IBK
		Guarantees for supplemental funding and others(*1)		—	IBK and others

Korea Midland Power Co., Ltd.	YaksuESS Co., Ltd.	Collateralized money invested		KRW 516	IBK

Korea Midland Power Co., Ltd.	Namjeongsusang Solar Power Operatin Co., Ltd.	Collateralized money invested		KRW 812	IBK

Korea Midland Power Co., Ltd.	Gwangbaek Solar Power Investment Co., Ltd.	Collateralized money invested		KRW 2,054	IBK

Korea South-East Power Co., Ltd.	Hyundai Energy Co., Ltd.	Collateralized money invested(*5)		—	IBK

		Guarantees for supplemental funding and others(*1,6)		KRW 76,800	NH investment & securities Co., Ltd. and others

Korea South-East Power Co., Ltd.	S-Power Co., Ltd.	Collateralized money invested		KRW 115,784	Korea Development Bank and others

Korea South-East Power Co., Ltd.	RES Technology AD	Collateralized money invested		KRW 16,248	UniCredit Bulbank and others

Korea South-East Power Co., Ltd.	ASM-BG Investicii AD	Collateralized money invested		KRW 19,376	UniCredit Bulbank and others

Korea South-East Power Co., Ltd.	Expressway Solar-light Power Generation Co., Ltd.	Guarantees for supplemental funding(*1,2)		KRW 2,500	Woori Bank

Korea South-East Power Co., Ltd.	Goseong Green Energy Co., Ltd.	Collateralized money invested		KRW 2,340	Kyobo Life Insurance Co., Ltd. and others

Korea South-East Power Co., Ltd.	Gangneung Eco Power Co., Ltd.	Collateralized money invested		KRW 2,430	Kyobo Life Insurance Co., Ltd. and others

Korea South-East Power Co., Ltd.	PND solar., Ltd.	Collateralized money invested		KRW 1,144	IBK

Korea South-East Power Co., Ltd.	Hyundai Eco Energy Co., Ltd.	Collateralized money invested		KRW 3,781	Samsung Life Insurance and others

Korea South-East Power Co., Ltd.	Jaeun Resident Wind Power Plant Co., Ltd.	Collateralized money invested		KRW 2,198	IBK

Korea South-East Power Co., Ltd.	Cheongsong Myeonbongsan Wind Power Plant Co., Ltd.	Collateralized money invested		KRW 2,764	Kyobo Life Insurance Co., Ltd. and others

Korea Hydro & Nuclear Power Co., Ltd.	Noeul Green Energy Co., Ltd.	Collateralized money invested		KRW 6,611	Hana Bank and others
		Guarantees for supplemental funding(*1)		—

Korea Hydro & Nuclear Power Co., Ltd.	Busan Green Energy Co., Ltd.	Collateralized money invested		KRW 10,636	Shinhan Bank and others

Korea Hydro & Nuclear Power Co., Ltd.	Cheong-Song Noraesan Wind Power Co., Ltd.	Collateralized money invested		KRW 3,044	Woori Bank and others
		Guarantees for supplemental funding(*1)		—

KEPCO Plant Service & Engineering Co., Ltd.	Incheon New Power Co., Ltd.	Collateralized money invested(*8)		—	Shinhan Bank
		Guarantees for supplemental funding(*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 Expressway 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 18,400,000 and there is no residual guarantee amount among total collateral limit.

(*4)

Controlling and non-controlling common shareholders of Samcheok Eco Materials Co., Ltd. have pre-emption rights, if preferred shareholders intend to sell their shares until December 23, 2020. And promised yield of the preferred stock is guaranteed through the transaction. As of December 31, 2019, the Company has recognized derivative liabilities of ￦6,205 million related to the guarantee. Meanwhile, the Company is under an agreement with Samcheok Eco Materials Co., Ltd. that if a damage incurs related to the fulfillment of obligations pursuant to the mandatory contract of coal ash supply, compensation for the expected amount of the damage should be settled.

(*5)	The Company recognized an impairment loss on all of the equity securities of Hyundai Energy Co., Ltd. in prior years, and the acquisition cost of the securities provided as collateral is ￦47,067 million.

(*6)	Pursuant to the guarantee agreement, the Company recognized other provisions of ￦28,717 million as the possibility of economic benefit outflow to fulfill the obligation was deemed probable and the amount could be reasonably estimated.

(*7)	The common stocks of Dongducheon Dream Power Co., Ltd. held by the Company were pledged as collateral.

(*8)	The Company recognized an impairment loss on all of the equity securities of Incheon New Power Co., Ltd. during the year ended December 31,2019, and the acquisition cost of the securities provided as collateral is ￦461 million.

(*9)	The Company provided a payment guarantee to Daehan Wind Power PSC for reimbursement of Equity Bridge Loan(EBL), opening LC for Debt Service Reserve Account(DSRA), guarantee for the swap termination costs and others.

Derivatives transactions with related parties

Derivatives transactions with related parties as of December 31, 2019 are as follows:

(i)

Currency Swap


Counterparty	Contract year			Contract Amount				Contract interest rate per annum							Contract exchange rate
Counterparty	Contract year			Pay		Receive		Pay (%)			Receive (%)				Contract exchange rate
	In millions of won and thousands of foreign currencies
Korea Development Bank		2019~2024	￦		177,600		USD 150,000		1.24	%		2.50	%	￦		1,184.00
		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
		2018~2028			108,600		HKD 800,000		2.69	%		3.35	%			135.75
		2018~2023			170,280		USD 150,000		2.15	%		3.75	%			1,135.20
		2019~2027			119,978		CHF 100,000		1.43	%		0.05	%			1,199.78
		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
		2019~2022			112,650		USD 100,000		1.80	%		3.38	%			1,126.50
		2018~2023			320,880		USD 300,000		2.03	%		3.75	%			1,069.60
		2019~2022			117,340		USD 100,000		1.06	%		2.38	%			1,173.40
		2018~2021			212,960		USD 200,000		2.10	%		3.00	%			1,064.80
		2017~2022			113,300		USD 100,000		1.94	%		2.63	%			1,133.00
		2018~2023			169,335		USD 150,000		2.26	%		3.88	%			1,128.90

(ii)

Currency forward


Counterparty	Contract date		Maturity date			Contract amounts					Contract exchange rate
Counterparty	Contract date		Maturity date			Pay		Receive			Contract exchange rate
	In millions of won and thousands of foreign currencies
Korea Development Bank		2017.12.27		2021.07.12	￦		104,849		USD 100,000	￦		1,048.49
		2019.12.11		2020.01.15			11,925		USD 10,000			1,192.50
		2019.12.30		2020.01.23			4,630		USD 4,000			1,157.40

Salaries and other compensations to the key members of management of the Company

The Company considers executive directors and executive head officer in charge of planning, operation, control of business activity as the key members of management. Salaries and other compensations to the key members of management of the Company for the years ended December 31, 2017, 2018 and 2019 are as follows:


Type		2017		2018		2019
		In millions of won
Salaries	￦		1,271		1,106		1,315
Employee benefits			54		24		31

	￦		1,325		1,130		1,346