XML 36 R21.htm IDEA: XBRL DOCUMENT
v3.23.1

Consolidated Subsidiaries | 12 Months Ended
--- | ---
Dec. 31, 2022
Disclosure of subsidiaries [abstract] |
Consolidated Subsidiaries |
16. | Consolidated Subsidiaries
(1) | Consolidated subsidiaries as of December 31, 2021 and 2022 are as follows:
|  |  |  |  |  | Percentage of ownership (%) |
Subsidiaries |  | Key operation activities |  | Location |  | 2021 |  |  | 2022 |
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) |  | Engineering and construction 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 | %
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.(*11) |  | 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 Netherlands B.V. |  | Holding company |  | Netherlands |  |  | 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 |  |  | 80.00 | % |  |  | 80.00 | %
KEPCO Holdings de Mexico |  | Holding company |  | Mexico |  |  | 100.00 | % |  |  | 100.00 | %
KST Electric Power Company, S.A.P.I. de C.V. |  | 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 America Inc. |  | Holding company |  | USA |  |  | 100.00 | % |  |  | 100.00 | %
EWP Renewable Corporation |  | Holding company |  | USA |  |  | 100.00 | % |  |  | 100.00 | %
KNF Canada Energy Limited |  | Holding company |  | Canada |  |  | 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 | % |  |  | — |
PT. EWP Indonesia |  | Holding company |  | Indonesia |  |  | 99.96 | % |  |  | 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. |  | Recycling fly ashes |  | Korea |  |  | 86.22 | % |  |  | 86.22 | %
Commerce and Industry Energy Co., Ltd.(*4) |  | RDF power generation |  | Korea |  |  | 85.03 | % |  |  | 85.03 | %
KEPCO KPS Philippines Corp. |  | Utility plant maintenance and others |  | Philippines |  |  | 99.99 | % |  |  | 99.99 | %
|  |  |  |  |  | Percentage of ownership (%) |
Subsidiaries |  | Key operation activities |  | Location |  | 2021 |  |  | 2022 |
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 | %
Hee Mang 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.(*5) |  | Operation of utility plant |  | Korea |  |  | 50.00 | % |  |  | 50.00 | %
Chitose Solar Power Plant LLC |  | Power generation |  | Japan |  |  | 65.00 | % |  |  | 65.00 | %
KEPCO Energy Solution Co., Ltd. |  | Energy service |  | Korea |  |  | 100.00 | % |  |  | 100.00 | %
KEPCO Solar Co., Ltd. |  | Power generation |  | Korea |  |  | 100.00 | % |  |  | 100.00 | %
KOSPO Power Services Ltda. |  | Utility plant maintenance and others |  | Chile |  |  | 65.00 | % |  |  | 65.00 | %
Energy New Industry Specialized Investment Private Investment Trust |  | Holding company |  | Korea |  |  | 99.01 | % |  |  | 99.01 | %
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 | % |  |  | 100.00 | %
KEPCO Alamosa LLC |  | Holding company |  | USA |  |  | 50.10 | % |  |  | — |
KEPCO Solar of Alamosa LLC |  | Power generation |  | USA |  |  | 100.00 | % |  |  | — |
KEPCO Mangilao Holdings LLC |  | Holding company |  | USA |  |  | 100.00 | % |  |  | 100.00 | %
Mangilao Investment LLC |  | Holding company |  | USA |  |  | 100.00 | % |  |  | 80.06 | %
KEPCO Mangilao Solar, LLC |  | Power generation |  | USA |  |  | 100.00 | % |  |  | 100.00 | %
Jeju Hanlim Offshore Wind Co., Ltd. |  | Power generation |  | Korea |  |  | 79.03 | % |  |  | 79.03 | %
PT. Siborpa Eco Power |  | Construction and operation of utility plant |  | Indonesia |  |  | 55.00 | % |  |  | 55.00 | %
BSK E-New Industry Fund VII |  | Holding company |  | Korea |  |  | 81.67 | % |  |  | 81.67 | %
e-New Industry LB Fund 1 |  | Holding company |  | Korea |  |  | 76.11 | % |  |  | 76.11 | %
Songhyun e-New Industry Fund |  | Holding company |  | Korea |  |  | 80.65 | % |  |  | 80.65 | %
BSK E-New Industry Fund X |  | Holding company |  | Korea |  |  | 66.80 | % |  |  | 66.80 | %
PT. Korea Energy Indonesia |  | Utility plant maintenance and others |  | Indonesia |  |  | 95.00 | % |  |  | 95.00 | %
KOLAT SpA |  | Utility plant maintenance and others |  | Chile |  |  | 100.00 | % |  |  | 100.00 | %
KEPCO California, LLC |  | Holding company |  | USA |  |  | 100.00 | % |  |  | 100.00 | %
KEPCO Mojave Holdings, LLC |  | Holding company |  | USA |  |  | 100.00 | % |  |  | 100.00 | %
Incheon Fuel Cell Co., Ltd. |  | Power generation |  | Korea |  |  | 60.00 | % |  |  | 60.00 | %
KOEN Service Co., Ltd. |  | Facility maintenance and service |  | Korea |  |  | 100.00 | % |  |  | 100.00 | %
KOMIPO Service Co., Ltd. |  | Facility maintenance and service |  | Korea |  |  | 100.00 | % |  |  | 100.00 | %
KOWEPO Service Co., Ltd. |  | Facility maintenance and service |  | Korea |  |  | 100.00 | % |  |  | 100.00 | %
KOSPO Service Co., Ltd. |  | Facility maintenance and service |  | Korea |  |  | 100.00 | % |  |  | 100.00 | %
EWP Service Co., Ltd. |  | Facility maintenance and service |  | Korea |  |  | 100.00 | % |  |  | 100.00 | %
PT. KOMIPO Energy Indonesia |  | Utility plant maintenance and others |  | Indonesia |  |  | 95.00 | % |  |  | 95.00 | %
KNF Partners Co., Ltd. |  | Facility maintenance and service |  | Korea |  |  | 100.00 | % |  |  | 100.00 | %
KOSPO USA Inc. |  | Holding company |  | USA |  |  | 100.00 | % |  |  | 100.00 | %
Nambu USA LLC |  | Holding company |  | USA |  |  | 100.00 | % |  |  | 100.00 | %
Tamra Offshore Wind Power Co., Ltd. |  | Power generation |  | Korea |  |  | 63.00 | % |  |  | 63.00 | %
KEPCO MCS Co., Ltd. |  | Electric meter reading and others |  | Korea |  |  | 100.00 | % |  |  | 100.00 | %
KEPCO FMS Co., Ltd. |  | Security service and others |  | Korea |  |  | 100.00 | % |  |  | 100.00 | %
Firstkeepers Co., Ltd. |  | Facility maintenance and service |  | Korea |  |  | 100.00 | % |  |  | 100.00 | %
Secutec Co., Ltd. |  | Security service |  | Korea |  |  | 100.00 | % |  |  | 100.00 | %
SE Green Energy Co., Ltd. |  | Power generation |  | Korea |  |  | 84.80 | % |  |  | 84.80 | %
KEPCO Mangilao America LLC |  | Holding company |  | USA |  |  | 100.00 | % |  |  | — |
Mangilao Intermediate Holdings LLC |  | Holding company |  | USA |  |  | 100.00 | % |  |  | 100.00 | %
KEPCO CSC Co., Ltd. |  | Facility maintenance and service |  | Korea |  |  | 100.00 | % |  |  | 100.00 | %
KOAK Power Limited |  | Hydro power facility maintenance |  | Pakistan |  |  | 100.00 | % |  |  | 100.00 | %
KOMIPO Europe B.V. |  | Holding company |  | Netherlands |  |  | 100.00 | % |  |  | 100.00 | %
Haenanum Energy Fund |  | Holding company |  | Korea |  |  | 99.64 | % |  |  | 99.64 | %
Paju Ecoenergy Co., Ltd. |  | Power generation |  | Korea |  |  | 89.00 | % |  |  | 89.00 | %
Guam Ukudu Power LLC |  | Power generation |  | USA |  |  | 100.00 | % |  |  | 100.00 | %
K-SOLAR SHINAN Co., Ltd. (formerly, TS Energy No. 25 Co., Ltd.) |  | Power generation |  | Korea |  |  | 90.00 | % |  |  | 90.00 | %
KPS Partners Co., Ltd. |  | Facility maintenance and service |  | Korea |  |  | 100.00 | % |  |  | 100.00 | %
|  |  |  |  |  | Percentage of ownership (%) |
Subsidiaries |  | Key operation activities |  | Location |  | 2021 |  |  | 2022 |
KEPCO E&C Service Co., Ltd. |  | Facility maintenance and service |  | Korea |  |  | 100.00 | % |  |  | 100.00 | %
Moha solar Co., Ltd. |  | Power generation |  | Korea |  |  | 100.00 | % |  |  | 100.00 | %
Ogiri Solar Power Co., Ltd. |  | Power generation |  | Korea |  |  | 70.00 | % |  |  | 70.00 | %
KHNP USA LLC |  | Holding company |  | USA |  |  | 100.00 | % |  |  | 100.00 | %
KOMIPO Vanphong Power Service LLC |  | Utility plant maintenance and others |  | Vietnam |  |  | 100.00 | % |  |  | 100.00 | %
Energy Innovation Fund I |  | Holding company |  | Korea |  |  | 71.91 | % |  |  | 71.91 | %
KHNP Chile SpA |  | Holding company |  | Chile |  |  | 100.00 | % |  |  | 100.00 | %
Yeong Yang Apollon Photovoltaic Co., Ltd. |  | Power generation |  | Korea |  |  | 100.00 | % |  |  | 100.00 | %
Yeong Yang Corporation Co., Ltd. |  | Power generation |  | Korea |  |  | 100.00 | % |  |  | 100.00 | %
SolarVader Co., Ltd. |  | Power generation |  | Korea |  |  | 100.00 | % |  |  | 100.00 | %
Yeong Yang Innovation Co., Ltd. |  | Power generation |  | Korea |  |  | 100.00 | % |  |  | 100.00 | %
Yeong Yang Horus Photovoltaic Co., Ltd. |  | Power generation |  | Korea |  |  | 100.00 | % |  |  | 100.00 | %
Yeong Yang Solar Management Co., Ltd. |  | Power generation |  | Korea |  |  | 100.00 | % |  |  | 100.00 | %
LSG Hydro Power Limited |  | Holding company |  | Pakistan |  |  | 99.80 | % |  |  | 99.80 | %
KOEN Bio Co., Ltd. |  | Wood pellet utilization business |  | Korea |  |  | 70.00 | % |  |  | 70.00 | %
KOMIPO Energy Solution America, LLC |  | Holding company |  | USA |  |  | 100.00 | % |  |  | 100.00 | %
Elara Investment Holdings, LLC(*6) |  | Holding company |  | USA |  |  | 0.10 | % |  |  | 0.10 | %
Elara Equity Holdings, LLC |  | Holding company |  | USA |  |  | 54.00 | % |  |  | 54.00 | %
Elara Class B Holdings, LLC |  | Holding company |  | USA |  |  | 100.00 | % |  |  | 100.00 | %
Elara Class B Member, LLC |  | Holding company |  | USA |  |  | 100.00 | % |  |  | 100.00 | %
Elara Development Holdings, LLC |  | Holding company |  | USA |  |  | 100.00 | % |  |  | 100.00 | %
KOMIPO Development, LLC (formerly, Elara Development, LLC) |  | Holding company |  | USA |  |  | 100.00 | % |  |  | 100.00 | %
Elara Energy Holdings, LLC(*6) |  | Holding company |  | USA |  |  | 43.94 | % |  |  | 43.94 | %
Elara Energy Project, LLC |  | Power generation |  | USA |  |  | 100.00 | % |  |  | 100.00 | %
KOMIPO Iberian Solar Group, S.L.U. |  | Holding company |  | Spain |  |  | 100.00 | % |  |  | 100.00 | %
Jeongam Wind Power Co., Ltd. |  | Power generation |  | Korea |  |  | 80.00 | % |  |  | 80.00 | %
KOWEPO Europe B.V. |  | Holding company |  | Netherlands |  |  | 100.00 | % |  |  | 100.00 | %
CVS Equity Holdings, LLC |  | Holding company |  | USA |  |  | 100.00 | % |  |  | 81.34 | %
CVS Class B Holdings, LLC |  | Holding company |  | USA |  |  | 100.00 | % |  |  | 100.00 | %
CVS Development Holdings, LLC |  | Holding company |  | USA |  |  | 100.00 | % |  |  | 100.00 | %
CVS Development, LLC |  | Holding company |  | USA |  |  | 100.00 | % |  |  | 100.00 | %
CVS Class B Member, LLC |  | Holding company |  | USA |  |  | 100.00 | % |  |  | 100.00 | %
CVS Energy Holdings, LLC |  | Holding company |  | USA |  |  | 100.00 | % |  |  | 70.79 | %
Concho Valley Energy, LLC |  | Holding company |  | USA |  |  | 100.00 | % |  |  | 100.00 | %
Concho Valley Solar, LLC |  | Power generation |  | USA |  |  | 100.00 | % |  |  | 100.00 | %
Yeongdeok Sunrise Wind Power Co., Ltd. |  | Power generation |  | Korea |  |  | 70.00 | % |  |  | 70.00 | %
KHNP Spain, S.L. |  | Holding company |  | Spain |  |  | 100.00 | % |  |  | 100.00 | %
UI Carbon-Neutrality Fund |  | Holding company |  | Korea |  |  | — |  |  |  | 78.97 | %
KA Power Limited |  | Power generation |  | Pakistan |  |  | — |  |  |  | 100.00 | %
Western Power Changgi Solar Co., Ltd. (formerly, Sam-Yang Photovoltaic Power Co., Ltd.)(*7) |  | Power generation |  | Korea |  |  | — |  |  |  | 100.00 | %
EWP Australia Pty., Ltd. |  | Holding company |  | Australia |  |  | — |  |  |  | 100.00 | %
Columboola Solar Farm Hold Co Pty., Ltd.(*8) |  | Power generation |  | Australia |  |  | — |  |  |  | 74.04 | %
Digital Innovation Growth Fund(*9) |  | Holding company |  | Korea |  |  | — |  |  |  | 76.92 | %
J Wind First, LLC(*10) |  | Company specializing in liquidization |  | Korea |  |  | — |  |  |  | — |
KEPCO Holding Company |  | Holding company |  | Saudi Arabia |  |  | — |  |  |  | 100.00 | %
KEPCO for Power Company |  | Power generation |  | Saudi Arabia |  |  | — |  |  |  | 60.00 | %
KEPCO for Maintenance Company |  | Utility plant maintenance and others |  | Saudi Arabia |  |  | — |  |  |  | 100.00 | %
KOSPO Trumbull LLC |  | Holding company |  | USA |  |  | — |  |  |  | 100.00 | %
Changjuk Wind Power Co., Ltd.(*9) |  | Power generation |  | Korea |  |  | — |  |  |  | 73.00 | %
(*1) | Considering treasury stocks, the effective percentage of ownership is 66.08%. The Company is planning to sell part of its shares (14.77%) based on the resolution of the board of directors on June 24, 2022.
(*2) | The effective percentage of ownership is less than 50%. However, this subsidiary is included in the consolidated financial statements as the Company obtained the majority of the voting power under the shareholders’ agreement.
(*3) | As of the reporting date, the annual reporting period of all subsidiaries is December 31, except for Mira Power Limited.
(*4) | 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 36 months after the date of investment. Accordingly, the purchase price including the return on investment is classified as a liability.
(*5) | The subsidiary is included in the consolidated financial statements as the Company owns 50%+1 stake and has the ability to appoint a majority of the board members under the shareholders’ agreement.
(*6) | The effective percentage of ownership is less than 50%. However, this subsidiary is included in the consolidated financial statements as the Company has control over the board of directors under the shareholders’ agreement.
(*7) | For the year ended December 31, 2022, the Company included Western Power Changgi Solar Co., Ltd. as a subsidiary, considering that it acquired control over the entity after the entity undertook selective reduction of capital.
(*8) | Excluding preferred stocks, the percentage of ownership with voting rights is 100%.
(*9) | The entity was transferred from an associate to a subsidiary due to changes in the consolidated scope during the year ended December 31, 2022.
(*10) | Although the Company does not hold a stake as of December 31, 2022, considering the purpose and design of the structured entity, the Company is exposed to volatility in the profits of the structured entity. In addition, Group has the ability to direct activities that can most significantly affect the operations of the structured entity, so it has been determined that the Company has control over the entity.
(*11) | The Company is planning to sell its investment in KEPCO Philippines Holdings Inc., but time or proceeds of sales are not specified as of December 31, 2022.
(2) | Subsidiaries newly included in and excluded from consolidation for the year ended December 31, 2022 are as follows:
Subsidiaries included in consolidation during the year ended December 31, 2022.
Subsidiaries |  | Reason
UI Carbon-Neutrality Fund |  | Newly established
KA Power Limited |  | Newly established
Seobusambo highway photovoltaics Co., Ltd. |  | Newly established
Western Power Changgi Solar Co., Ltd. (formerly, Sam-Yang Photovoltaic Power Co., Ltd.) |  | Change in the scope of consolidation
EWP Australia Pty., Ltd. |  | Newly established
Columboola Solar Farm Hold Co Pty., Ltd. |  | New investment
Digital Innovation Growth Fund |  | Change in the scope of consolidation
J Wind First, LLC |  | Newly established
KEPCO Holding Company |  | Newly established
KEPCO for Power Company |  | Newly established
KEPCO for Maintenance Company |  | Newly established
KOSPO Trumbull LLC |  | Newly established
Changjuk Wind Power Co., Ltd. |  | Change in the scope of consolidation
Subsidiaries excluded from consolidation during the year ended December 31, 2022.
Subsidiaries |  | Reason
EWPRC Biomass Holdings, LLC |  | Liquidation
KEPCO Solar of Alamosa LLC |  | Disposal
KEPCO Alamosa LLC |  | Liquidation
KEPCO Mangilao America LLC |  | Liquidation
Seobusambo highway photovoltaics Co., Ltd. |  | Change in the scope of consolidation
(3) | Summary of financial information of consolidated subsidiaries as of and for the years ended December 31, 2021 and 2022 are as follows:
2021 |
Subsidiaries |  |  |  |  | Total assets |  |  | Total liabilities |  |  | Sales |  |  | Profit (loss) for the year |
|  |  |  |  | In millions of won |
Korea Hydro & Nuclear Power Co., Ltd. |  | ￦ |  |  |  |  | 64,638,690 |  |  |  | 38,361,337 |  |  |  | 9,324,391 |  |  |  | 302,232 |
Korea South-East Power Co., Ltd. |  |  |  |  |  |  | 11,487,325 |  |  |  | 6,510,826 |  |  |  | 5,188,856 |  |  |  | (58,096 | )
Korea Midland Power Co., Ltd. |  |  |  |  |  |  | 13,761,908 |  |  |  | 9,912,907 |  |  |  | 5,353,915 |  |  |  | 60,737 |
Korea Western Power Co., Ltd. |  |  |  |  |  |  | 10,822,780 |  |  |  | 7,116,671 |  |  |  | 4,970,805 |  |  |  | (171,562 | )
Korea Southern Power Co., Ltd. |  |  |  |  |  |  | 11,350,984 |  |  |  | 7,099,881 |  |  |  | 5,671,989 |  |  |  | (113,352 | )
Korea East-West Power Co., Ltd. |  |  |  |  |  |  | 9,895,739 |  |  |  | 5,163,005 |  |  |  | 4,743,030 |  |  |  | 10,872 |
KEPCO Engineering & Construction Company, Inc. |  |  |  |  |  |  | 705,043 |  |  |  | 191,592 |  |  |  | 433,127 |  |  |  | 16,452 |
KEPCO Plant Service & Engineering Co., Ltd. |  |  |  |  |  |  | 1,420,705 |  |  |  | 311,607 |  |  |  | 1,375,668 |  |  |  | 98,132 |
KEPCO Nuclear Fuel Co., Ltd. |  |  |  |  |  |  | 837,249 |  |  |  | 405,614 |  |  |  | 323,729 |  |  |  | 25,799 |
KEPCO KDN Co., Ltd. |  |  |  |  |  |  | 721,634 |  |  |  | 189,242 |  |  |  | 673,261 |  |  |  | 67,244 |
KEPCO International HongKong Ltd. |  |  |  |  |  |  | 128,968 |  |  |  | — |  |  |  | — |  |  |  | 341 |
KEPCO International Philippines Inc. |  |  |  |  |  |  | 154,317 |  |  |  | 482 |  |  |  | — |  |  |  | 8,766 |
KEPCO Gansu International Ltd. |  |  |  |  |  |  | 7,151 |  |  |  | 559 |  |  |  | — |  |  |  | (25 | )
KEPCO Philippines Holdings Inc. |  |  |  |  |  |  | 191,757 |  |  |  | 128 |  |  |  | — |  |  |  | 60,192 |
KEPCO Philippines Corporation |  |  |  |  |  |  | 6,122 |  |  |  | 19 |  |  |  | — |  |  |  | (68 | )
KEPCO Ilijan Corporation |  |  |  |  |  |  | 259,069 |  |  |  | 38,555 |  |  |  | 60,532 |  |  |  | 12,981 |
KEPCO Lebanon SARL |  |  |  |  |  |  | 1,729 |  |  |  | 9,794 |  |  |  | — |  |  |  | (86 | )
KEPCO Neimenggu International Ltd. |  |  |  |  |  |  | 241,299 |  |  |  | 3,106 |  |  |  | — |  |  |  | 16,762 |
KEPCO Shanxi International Ltd. |  |  |  |  |  |  | 551,407 |  |  |  | 207,844 |  |  |  | — |  |  |  | 3,526 |
KOMIPO Global Pte Ltd. |  |  |  |  |  |  | 302,340 |  |  |  | 1,351 |  |  |  | — |  |  |  | 11,462 |
KEPCO Netherlands B.V. |  |  |  |  |  |  | 133,610 |  |  |  | 866 |  |  |  | — |  |  |  | 5,395 |
KEPCO Australia Pty., Ltd. |  |  |  |  |  |  | 481 |  |  |  | 11 |  |  |  | — |  |  |  | 25 |
KOSEP Australia Pty., Ltd. |  |  |  |  |  |  | 44,798 |  |  |  | 5,561 |  |  |  | 22,013 |  |  |  | 8,268 |
KOMIPO Australia Pty., Ltd. |  |  |  |  |  |  | 54,162 |  |  |  | 5,648 |  |  |  | 22,013 |  |  |  | 5,942 |
KOWEPO Australia Pty., Ltd. |  |  |  |  |  |  | 54,564 |  |  |  | 4,766 |  |  |  | 22,013 |  |  |  | 7,387 |
KOSPO Australia Pty., Ltd. |  |  |  |  |  |  | 43,886 |  |  |  | 4,502 |  |  |  | 22,013 |  |  |  | 5,940 |
KEPCO Middle East Holding Company |  |  |  |  |  |  | 104,068 |  |  |  | 89,756 |  |  |  | — |  |  |  | 1,144 |
Qatrana Electric Power Company |  |  |  |  |  |  | 480,809 |  |  |  | 262,725 |  |  |  | 21,368 |  |  |  | 19,156 |
KHNP Canada Energy Ltd. |  |  |  |  |  |  | 109,326 |  |  |  | 25 |  |  |  | — |  |  |  | 29 |
KEPCO Bylong Australia Pty., Ltd. |  |  |  |  |  |  | 44,319 |  |  |  | 394,349 |  |  |  | — |  |  |  | (37,065 | )
Korea Waterbury Uranium Limited Partnership |  |  |  |  |  |  | 20,920 |  |  |  | 159 |  |  |  | — |  |  |  | (57 | )
KEPCO Holdings de Mexico |  |  |  |  |  |  | 148 |  |  |  | 27 |  |  |  | — |  |  |  | (8 | )
KST Electric Power Company, S.A.P.I. de C.V. |  |  |  |  |  |  | 584,625 |  |  |  | 435,796 |  |  |  | 151,467 |  |  |  | 18,499 |
KEPCO Energy Service Company |  |  |  |  |  |  | 2,500 |  |  |  | 956 |  |  |  | 12,070 |  |  |  | 574 |
KEPCO Netherlands S3 B.V. |  |  |  |  |  |  | 51,045 |  |  |  | 150 |  |  |  | — |  |  |  | 3,199 |
PT. KOMIPO Pembangkitan Jawa Bali |  |  |  |  |  |  | 13,499 |  |  |  | 3,314 |  |  |  | 18,296 |  |  |  | 885 |
PT. Cirebon Power Service |  |  |  |  |  |  | 2,545 |  |  |  | 631 |  |  |  | 8,664 |  |  |  | 505 |
KOWEPO International Corporation |  |  |  |  |  |  | — |  |  |  | 10 |  |  |  | — |  |  |  | — |
KOSPO Jordan LLC |  |  |  |  |  |  | 33,782 |  |  |  | 16,298 |  |  |  | 9,698 |  |  |  | 816 |
EWP America Inc.(*1) |  |  |  |  |  |  | 46,687 |  |  |  | 1,278 |  |  |  | 18,335 |  |  |  | 6,807 |
KNF Canada Energy Limited |  |  |  |  |  |  | 2,101 |  |  |  | 17 |  |  |  | — |  |  |  | (43 | )
EWP Barbados 1 SRL |  |  |  |  |  |  | 354,024 |  |  |  | 1,172 |  |  |  | 2,861 |  |  |  | 16,168 |
Gyeonggi Green Energy Co., Ltd. |  |  |  |  |  |  | 243,977 |  |  |  | 224,132 |  |  |  | 93,794 |  |  |  | (5,588 | )
PT. Tanggamus Electric Power |  |  |  |  |  |  | 212,161 |  |  |  | 167,409 |  |  |  | 2,903 |  |  |  | 3,017 |
Gyeongju Wind Power Co., Ltd. |  |  |  |  |  |  | 96,937 |  |  |  | 60,702 |  |  |  | 15,289 |  |  |  | 3,132 |
KOMIPO America Inc.(*2) |  |  |  |  |  |  | 329,986 |  |  |  | 56,325 |  |  |  | 1,715 |  |  |  | (1,311 | )
PT. EWP Indonesia |  |  |  |  |  |  | 47,031 |  |  |  | 1,226 |  |  |  | — |  |  |  | 4,615 |
KEPCO Netherlands J3 B.V. |  |  |  |  |  |  | 151,478 |  |  |  | 172 |  |  |  | — |  |  |  | 27,365 |
Korea Offshore Wind Power Co., Ltd. |  |  |  |  |  |  | 359,393 |  |  |  | 188,507 |  |  |  | 36,020 |  |  |  | 3,820 |
Global One Pioneer B.V. |  |  |  |  |  |  | 119 |  |  |  | 116 |  |  |  | — |  |  |  | (132 | )
Global Energy Pioneer B.V. |  |  |  |  |  |  | 293 |  |  |  | 131 |  |  |  | — |  |  |  | (147 | )
2021 |
Subsidiaries |  |  |  |  | Total assets |  |  | Total liabilities |  |  | Sales |  |  | Profit (loss) for the year |
|  |  |  |  | In millions of won |
Mira Power Limited |  |  | ￦ |  |  |  | 424,183 |  |  |  | 311,459 |  |  |  | 70,287 |  |  |  | 34,018 |
KOSEP Material Co., Ltd. |  |  |  |  |  |  | 3,405 |  |  |  | 842 |  |  |  | 4,518 |  |  |  | 442 |
Commerce and Industry Energy Co., Ltd. |  |  |  |  |  |  | 85,315 |  |  |  | 35,543 |  |  |  | 30,531 |  |  |  | 1,345 |
KEPCO KPS Philippines Corp. |  |  |  |  |  |  | 8,051 |  |  |  | 3,652 |  |  |  | 9,768 |  |  |  | 1,493 |
KOSPO Chile SpA |  |  |  |  |  |  | 142,956 |  |  |  | 56,688 |  |  |  | — |  |  |  | (851 | )
PT. KOWEPO Sumsel Operation And Maintenance Services |  |  |  |  |  |  | 116 |  |  |  | 259 |  |  |  | — |  |  |  | — |
Hee Mang Sunlight Power Co., Ltd. |  |  |  |  |  |  | 6,242 |  |  |  | 3,272 |  |  |  | 499 |  |  |  | 47 |
Fujeij Wind Power Company |  |  |  |  |  |  | 200,783 |  |  |  | 169,340 |  |  |  | — |  |  |  | 14,739 |
KOSPO Youngnam Power Co., Ltd. |  |  |  |  |  |  | 393,745 |  |  |  | 292,765 |  |  |  | 318,770 |  |  |  | 6,339 |
Chitose Solar Power Plant LLC |  |  |  |  |  |  | 125,578 |  |  |  | 109,470 |  |  |  | 16,630 |  |  |  | 1,794 |
KEPCO Energy Solution Co., Ltd. |  |  |  |  |  |  | 317,676 |  |  |  | 4,938 |  |  |  | 21,423 |  |  |  | 3,104 |
KEPCO Solar Co., Ltd. |  |  |  |  |  |  | 231,567 |  |  |  | 22,229 |  |  |  | 11,305 |  |  |  | 2,014 |
KOSPO Power Services Ltda. |  |  |  |  |  |  | 8,007 |  |  |  | 5,800 |  |  |  | 21,133 |  |  |  | (356 | )
Energy New Industry Specialized Investment Private Investment Trust(*3) |  |  |  |  |  |  | 336,932 |  |  |  | 28,536 |  |  |  | 19,405 |  |  |  | 11,116 |
KOEN Bylong Pty., Ltd. |  |  |  |  |  |  | 8 |  |  |  | 86 |  |  |  | — |  |  |  | — |
KOMIPO Bylong Pty., Ltd. |  |  |  |  |  |  | 8 |  |  |  | 86 |  |  |  | — |  |  |  | (8 | )
KOWEPO Bylong Pty., Ltd. |  |  |  |  |  |  | 8 |  |  |  | 86 |  |  |  | — |  |  |  | (18 | )
KOSPO Bylong Pty., Ltd. |  |  |  |  |  |  | 73 |  |  |  | 168 |  |  |  | — |  |  |  | (20 | )
EWP Bylong Pty., Ltd. |  |  |  |  |  |  | 8 |  |  |  | 54 |  |  |  | — |  |  |  | — |
KOWEPO Lao International |  |  |  |  |  |  | 12,974 |  |  |  | 70 |  |  |  | 8,543 |  |  |  | 5,681 |
KEPCO US Inc. |  |  |  |  |  |  | 17,601 |  |  |  | — |  |  |  | — |  |  |  | — |
KEPCO Alamosa LLC |  |  |  |  |  |  | 34,100 |  |  |  | 297 |  |  |  | 124 |  |  |  | (62 | )
KEPCO Solar of Alamosa LLC |  |  |  |  |  |  | 57,104 |  |  |  | 41,953 |  |  |  | 8,008 |  |  |  | (742 | )
KEPCO Mangilao Holdings LLC |  |  |  |  |  |  | 28,504 |  |  |  | 32,501 |  |  |  | — |  |  |  | (556 | )
Mangilao Investment LLC |  |  |  |  |  |  | 43,459 |  |  |  | 29 |  |  |  | — |  |  |  | (14 | )
KEPCO Mangilao Solar, LLC |  |  |  |  |  |  | 206,018 |  |  |  | 166,095 |  |  |  | — |  |  |  | (865 | )
Jeju Hanlim Offshore Wind Co., Ltd. |  |  |  |  |  |  | 41,325 |  |  |  | 5,139 |  |  |  | — |  |  |  | (2,893 | )
PT. Siborpa Eco Power |  |  |  |  |  |  | 11,306 |  |  |  | — |  |  |  | — |  |  |  | (105 | )
PT. Korea Energy Indonesia |  |  |  |  |  |  | 1,917 |  |  |  | 215 |  |  |  | 1,681 |  |  |  | 37 |
KOLAT SpA |  |  |  |  |  |  | 28,349 |  |  |  | 849 |  |  |  | 180 |  |  |  | (464 | )
KEPCO California, LLC |  |  |  |  |  |  | 43,732 |  |  |  | 4,113 |  |  |  | 1,310 |  |  |  | 160 |
KEPCO Mojave Holdings, LLC |  |  |  |  |  |  | 95,294 |  |  |  | 71,358 |  |  |  | — |  |  |  | (4,254 | )
Incheon Fuel Cell Co., Ltd. |  |  |  |  |  |  | 268,100 |  |  |  | 236,901 |  |  |  | 54,188 |  |  |  | 8,738 |
KOEN Service Co., Ltd. |  |  |  |  |  |  | 8,963 |  |  |  | 6,557 |  |  |  | 35,190 |  |  |  | 2,326 |
KOMIPO Service Co., Ltd. |  |  |  |  |  |  | 4,384 |  |  |  | 4,475 |  |  |  | 32,323 |  |  |  | (96 | )
KOWEPO Service Co., Ltd. |  |  |  |  |  |  | 7,289 |  |  |  | 5,869 |  |  |  | 31,700 |  |  |  | 303 |
KOSPO Service Co., Ltd. |  |  |  |  |  |  | 5,762 |  |  |  | 4,990 |  |  |  | 26,257 |  |  |  | 31 |
EWP Service Co., Ltd. |  |  |  |  |  |  | 5,483 |  |  |  | 5,455 |  |  |  | 24,957 |  |  |  | 14 |
PT. KOMIPO Energy Indonesia |  |  |  |  |  |  | 2,996 |  |  |  | 395 |  |  |  | 2,077 |  |  |  | 106 |
KNF partners Co., Ltd. |  |  |  |  |  |  | 1,800 |  |  |  | 969 |  |  |  | 5,664 |  |  |  | 152 |
KOSPO USA Inc. |  |  |  |  |  |  | 286,081 |  |  |  | 293 |  |  |  | — |  |  |  | 968 |
Nambu USA LLC |  |  |  |  |  |  | 277,698 |  |  |  | — |  |  |  | — |  |  |  | 568 |
Tamra Offshore Wind Power Co., Ltd. |  |  |  |  |  |  | 146,736 |  |  |  | 106,961 |  |  |  | 21,731 |  |  |  | 5,168 |
KEPCO MCS Co., Ltd. |  |  |  |  |  |  | 80,277 |  |  |  | 39,139 |  |  |  | 349,116 |  |  |  | 19,043 |
KEPCO FMS Co., Ltd. |  |  |  |  |  |  | 17,188 |  |  |  | 15,577 |  |  |  | 94,210 |  |  |  | 214 |
Firstkeepers Co., Ltd. |  |  |  |  |  |  | 17,152 |  |  |  | 16,041 |  |  |  | 77,189 |  |  |  | 19 |
Secutec Co., Ltd. |  |  |  |  |  |  | 13,176 |  |  |  | 10,662 |  |  |  | 65,963 |  |  |  | 1,774 |
SE Green Energy Co., Ltd. |  |  |  |  |  |  | 153,105 |  |  |  | 119,461 |  |  |  | 38,867 |  |  |  | 4,025 |
KEPCO Mangilao America LLC |  |  |  |  |  |  | 2,173 |  |  |  | 1 |  |  |  | — |  |  |  | — |
Mangilao Intermediate Holdings LLC |  |  |  |  |  |  | 220,690 |  |  |  | 205,421 |  |  |  | — |  |  |  | (6,975 | )
KEPCO CSC Co., Ltd. |  |  |  |  |  |  | 8,093 |  |  |  | 6,799 |  |  |  | 41,854 |  |  |  | (2,101 | )
KOAK Power Limited |  |  |  |  |  |  | 14,363 |  |  |  | 393 |  |  |  | — |  |  |  | (551 | )
2021 |
Subsidiaries |  |  |  |  | Total assets |  |  | Total liabilities |  |  | Sales |  |  | Profit (loss) for the year |
|  |  |  |  | In millions of won |
KOMIPO Europe B.V. |  |  | ￦ |  |  |  | 70,431 |  |  |  | 97 |  |  |  | 402 |  |  |  | (503 | )
Haenanum Energy Fund |  |  |  |  |  |  | 7,463 |  |  |  | 3 |  |  |  | 40 |  |  |  | (74 | )
Paju Ecoenergy Co., Ltd. |  |  |  |  |  |  | 57,795 |  |  |  | 2,118 |  |  |  | 15,425 |  |  |  | 2,234 |
Guam Ukudu Power LLC |  |  |  |  |  |  | 30,133 |  |  |  | 30,438 |  |  |  | — |  |  |  | (2,030 | )
K-SOLAR SHINAN Co., Ltd. (formerly, TS Energy No. 25 Co., Ltd.) |  |  |  |  |  |  | 353,324 |  |  |  | 318,977 |  |  |  | 421 |  |  |  | (7,525 | )
KPS Partners Co., Ltd. |  |  |  |  |  |  | 2,809 |  |  |  | 1,529 |  |  |  | 9,520 |  |  |  | 323 |
KEPCO E&C Service Co., Ltd. |  |  |  |  |  |  | 4,054 |  |  |  | 1,889 |  |  |  | 15,985 |  |  |  | 1,242 |
Moha solar Co., Ltd. |  |  |  |  |  |  | 32,808 |  |  |  | 33,933 |  |  |  | 48 |  |  |  | (706 | )
Ogiri Solar Power Co., Ltd. |  |  |  |  |  |  | 1,041 |  |  |  | 1 |  |  |  | — |  |  |  | 9 |
KHNP USA LLC |  |  |  |  |  |  | 766 |  |  |  | 10 |  |  |  | 1,001 |  |  |  | 267 |
KOMIPO Vanphong Power Service LLC |  |  |  |  |  |  | 3,758 |  |  |  | 860 |  |  |  | 3,853 |  |  |  | 958 |
Energy Innovation Fund I |  |  |  |  |  |  | 22,616 |  |  |  | 3,202 |  |  |  | — |  |  |  | (888 | )
KHNP Chile SpA |  |  |  |  |  |  | 5,294 |  |  |  | 3,879 |  |  |  | — |  |  |  | 17 |
Yeong Yang Apollon Photovoltaic Co., Ltd. |  |  |  |  |  |  | 1,775 |  |  |  | 1,632 |  |  |  | 5 |  |  |  | (30 | )
Yeong Yang Corporation Co., Ltd. |  |  |  |  |  |  | 1,776 |  |  |  | 1,623 |  |  |  | 9 |  |  |  | (19 | )
SolarVader Co., Ltd. |  |  |  |  |  |  | 1,772 |  |  |  | 1,627 |  |  |  | — |  |  |  | (26 | )
Yeong Yang Innovation Co., Ltd. |  |  |  |  |  |  | 1,773 |  |  |  | 1,622 |  |  |  | 5 |  |  |  | (21 | )
Yeong Yang Horus Photovoltaic Co., Ltd. |  |  |  |  |  |  | 1,771 |  |  |  | 1,624 |  |  |  | 9 |  |  |  | (24 | )
Yeong Yang Solar Management Co., Ltd. |  |  |  |  |  |  | 1,774 |  |  |  | 1,625 |  |  |  | — |  |  |  | (23 | )
LSG Hydro Power Limited |  |  |  |  |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | — |
KOEN Bio Co., Ltd. |  |  |  |  |  |  | 394 |  |  |  | 199 |  |  |  | 51 |  |  |  | (305 | )
KOMIPO Iberian Solar Group, S.L.U. |  |  |  |  |  |  | 70,993 |  |  |  | 56,707 |  |  |  | — |  |  |  | 1,354 |
Jeongam Wind Power Co., Ltd. |  |  |  |  |  |  | 86,853 |  |  |  | 74,267 |  |  |  | 10,476 |  |  |  | 1,027 |
KOWEPO Europe B.V. |  |  |  |  |  |  | 39,973 |  |  |  | 1,449 |  |  |  | — |  |  |  | (744 | )
Yeongdeok Sunrise Wind Power Co., Ltd. |  |  |  |  |  |  | 21,252 |  |  |  | 768 |  |  |  | — |  |  |  | (116 | )
KHNP Spain, S.L. |  |  |  |  |  |  | 5 |  |  |  | — |  |  |  | — |  |  |  | — |
| (*1) | Financial information of EWP America Inc. includes that of three other subsidiaries, EWP Renewable Corporation, California Power Holdings, LLC and EWPRC Biomass Holdings, LLC.
| (*2) | Financial information of KOMIPO America Inc. includes that of 17 other subsidiaries including Elara Equity Holdings, LLC and CVS Equity Holdings, LLC.
| (*3) | Financial information of Energy New Industry Specialized Investment Private Investment Trust includes that of four other subsidiaries, BSK E-New Industry Fund VII, e-New Industry LB Fund 1, Songhyun e-New Industry Fund and BSK E-New Industry Fund X.
2022 |
Subsidiaries |  |  |  |  | Total assets |  |  | Total liabilities |  |  | Sales |  |  | Profit (loss) for the year |
|  |  |  |  | In millions of won |
Korea Hydro & Nuclear Power Co., Ltd. |  |  | ￦ |  |  |  | 69,129,625 |  |  |  | 42,843,974 |  |  |  | 10,386,091 |  |  |  | (16,382 | )
Korea South-East Power Co., Ltd. |  |  |  |  |  |  | 13,855,071 |  |  |  | 7,410,881 |  |  |  | 8,972,991 |  |  |  | 71,662 |
Korea Midland Power Co., Ltd. |  |  |  |  |  |  | 16,062,605 |  |  |  | 10,776,943 |  |  |  | 8,629,165 |  |  |  | (58,173 | )
Korea Western Power Co., Ltd. |  |  |  |  |  |  | 13,459,054 |  |  |  | 8,125,312 |  |  |  | 8,112,727 |  |  |  | 106,361 |
Korea Southern Power Co., Ltd. |  |  |  |  |  |  | 14,011,354 |  |  |  | 8,296,983 |  |  |  | 9,304,362 |  |  |  | (68,315 | )
Korea East-West Power Co., Ltd. |  |  |  |  |  |  | 12,079,954 |  |  |  | 5,818,789 |  |  |  | 6,925,094 |  |  |  | 2,888 |
KEPCO Engineering & Construction Company, Inc. |  |  |  |  |  |  | 815,533 |  |  |  | 272,119 |  |  |  | 505,291 |  |  |  | 17,954 |
KEPCO Plant Service & Engineering Co., Ltd. |  |  |  |  |  |  | 1,555,453 |  |  |  | 344,702 |  |  |  | 1,425,913 |  |  |  | 97,881 |
KEPCO Nuclear Fuel Co., Ltd. |  |  |  |  |  |  | 949,455 |  |  |  | 490,215 |  |  |  | 304,405 |  |  |  | 31,508 |
KEPCO KDN Co., Ltd. |  |  |  |  |  |  | 734,439 |  |  |  | 166,272 |  |  |  | 739,453 |  |  |  | 42,584 |
KEPCO International HongKong Ltd. |  |  |  |  |  |  | 128,784 |  |  |  | — |  |  |  | — |  |  |  | (216 | )
KEPCO International Philippines Inc. |  |  |  |  |  |  | 127,744 |  |  |  | 101 |  |  |  | — |  |  |  | 9,976 |
KEPCO Gansu International Ltd. |  |  |  |  |  |  | 7,125 |  |  |  | 598 |  |  |  | — |  |  |  | (22 | )
KEPCO Philippines Holdings Inc. |  |  |  |  |  |  | 191,634 |  |  |  | 129 |  |  |  | — |  |  |  | 39,346 |
KEPCO Philippines Corporation |  |  |  |  |  |  | 3,799 |  |  |  | 14 |  |  |  | — |  |  |  | 102 |
KEPCO Ilijan Corporation |  |  |  |  |  |  | 231,132 |  |  |  | 3,642 |  |  |  | 23,263 |  |  |  | 16,455 |
KEPCO Lebanon SARL |  |  |  |  |  |  | 1,890 |  |  |  | 10,482 |  |  |  | — |  |  |  | 20 |
KEPCO Neimenggu International Ltd. |  |  |  |  |  |  | 269,582 |  |  |  | 3,917 |  |  |  | — |  |  |  | 9,938 |
KEPCO Shanxi International Ltd. |  |  |  |  |  |  | 597,635 |  |  |  | 222,186 |  |  |  | — |  |  |  | (11,312 | )
KOMIPO Global Pte Ltd. |  |  |  |  |  |  | 388,071 |  |  |  | 1,817 |  |  |  | — |  |  |  | 58,030 |
KEPCO Netherlands B.V. |  |  |  |  |  |  | 137,454 |  |  |  | 64 |  |  |  | — |  |  |  | 8,570 |
KEPCO Australia Pty., Ltd. |  |  |  |  |  |  | 579 |  |  |  | 11 |  |  |  | — |  |  |  | 102 |
KOSEP Australia Pty., Ltd. |  |  |  |  |  |  | 74,180 |  |  |  | 13,097 |  |  |  | 52,271 |  |  |  | 24,443 |
KOMIPO Australia Pty., Ltd. |  |  |  |  |  |  | 81,216 |  |  |  | 10,327 |  |  |  | 52,272 |  |  |  | 23,368 |
KOWEPO Australia Pty., Ltd. |  |  |  |  |  |  | 81,696 |  |  |  | 10,184 |  |  |  | 52,271 |  |  |  | 22,745 |
KOSPO Australia Pty., Ltd. |  |  |  |  |  |  | 41,872 |  |  |  | 10,174 |  |  |  | 52,271 |  |  |  | 24,362 |
KEPCO Middle East Holding Company |  |  |  |  |  |  | 116,731 |  |  |  | 102,054 |  |  |  | — |  |  |  | (634 | )
Qatrana Electric Power Company |  |  |  |  |  |  | 513,277 |  |  |  | 247,027 |  |  |  | 24,354 |  |  |  | 22,578 |
KHNP Canada Energy Ltd. |  |  |  |  |  |  | 107,200 |  |  |  | 6,218 |  |  |  | — |  |  |  | 149 |
KEPCO Bylong Australia Pty., Ltd. |  |  |  |  |  |  | 44,034 |  |  |  | 437,852 |  |  |  | — |  |  |  | (45,880 | )
Korea Waterbury Uranium Limited Partnership |  |  |  |  |  |  | 20,934 |  |  |  | 224 |  |  |  | — |  |  |  | (116 | )
KEPCO Holdings de Mexico |  |  |  |  |  |  | 728 |  |  |  | 1,974 |  |  |  | — |  |  |  | (1,363 | )
KST Electric Power Company, S.A.P.I. de C.V. |  |  |  |  |  |  | 653,830 |  |  |  | 528,315 |  |  |  | 232,893 |  |  |  | 23,122 |
KEPCO Energy Service Company |  |  |  |  |  |  | 2,238 |  |  |  | 2,173 |  |  |  | 7,015 |  |  |  | (211 | )
KEPCO Netherlands S3 B.V. |  |  |  |  |  |  | 71,326 |  |  |  | 16,419 |  |  |  | — |  |  |  | 4,465 |
PT. KOMIPO Pembangkitan Jawa Bali |  |  |  |  |  |  | 15,753 |  |  |  | 3,232 |  |  |  | 22,488 |  |  |  | 3,668 |
PT. Cirebon Power Service |  |  |  |  |  |  | 2,316 |  |  |  | 784 |  |  |  | 9,602 |  |  |  | 355 |
KOWEPO International Corporation |  |  |  |  |  |  | — |  |  |  | 10 |  |  |  | — |  |  |  | — |
KOSPO Jordan LLC |  |  |  |  |  |  | 22,854 |  |  |  | 6,964 |  |  |  | 45,009 |  |  |  | 7,657 |
EWP America Inc.(*1) |  |  |  |  |  |  | 47,775 |  |  |  | 2,595 |  |  |  | 21,717 |  |  |  | 4,337 |
KNF Canada Energy Limited |  |  |  |  |  |  | 2,116 |  |  |  | 34 |  |  |  | — |  |  |  | (59 | )
EWP Barbados 1 SRL |  |  |  |  |  |  | 395,067 |  |  |  | 901 |  |  |  | 3,230 |  |  |  | 34,260 |
Gyeonggi Green Energy Co., Ltd. |  |  |  |  |  |  | 220,414 |  |  |  | 226,517 |  |  |  | 112,524 |  |  |  | (26,004 | )
PT. Tanggamus Electric Power |  |  |  |  |  |  | 227,638 |  |  |  | 163,106 |  |  |  | 3,781 |  |  |  | 5,778 |
Gyeongju Wind Power Co., Ltd. |  |  |  |  |  |  | 98,513 |  |  |  | 55,579 |  |  |  | 24,888 |  |  |  | 9,711 |
KOMIPO America Inc.(*2) |  |  |  |  |  |  | 571,200 |  |  |  | 317,903 |  |  |  | 34,059 |  |  |  | (3,293 | )
PT. EWP Indonesia |  |  |  |  |  |  | 93,390 |  |  |  | 5 |  |  |  | — |  |  |  | 4,100 |
KEPCO Netherlands J3 B.V. |  |  |  |  |  |  | 135,213 |  |  |  | 63 |  |  |  | — |  |  |  | 19,396 |
Korea Offshore Wind Power Co., Ltd. |  |  |  |  |  |  | 376,449 |  |  |  | 192,335 |  |  |  | 52,526 |  |  |  | 13,083 |
Global One Pioneer B.V. |  |  |  |  |  |  | 135 |  |  |  | 41 |  |  |  | — |  |  |  | (68 | )
Global Energy Pioneer B.V. |  |  |  |  |  |  | 320 |  |  |  | 40 |  |  |  | — |  |  |  | (64 | )
Mira Power Limited |  |  |  |  |  |  | 416,750 |  |  |  | 310,529 |  |  |  | 57,135 |  |  |  | 12,394 |
KOSEP Material Co., Ltd. |  |  |  |  |  |  | 3,985 |  |  |  | 662 |  |  |  | 4,589 |  |  |  | 775 |
Commerce and Industry Energy Co., Ltd. |  |  |  |  |  |  | 79,172 |  |  |  | 32,147 |  |  |  | 31,068 |  |  |  | (3,730 | )
KEPCO KPS Philippines Corp. |  |  |  |  |  |  | 5,294 |  |  |  | 600 |  |  |  | 5,232 |  |  |  | 1,004 |
KOSPO Chile SpA |  |  |  |  |  |  | 159,500 |  |  |  | 70,037 |  |  |  | — |  |  |  | (2,811 | )
PT. KOWEPO Sumsel Operation And Maintenance Services |  |  |  |  |  |  | 25 |  |  |  | 252 |  |  |  | — |  |  |  | (94 | )
2022 |
Subsidiaries |  |  |  |  | Total assets |  |  | Total liabilities |  |  | Sales |  |  | Profit (loss) for the year |
|  |  |  |  | In millions of won |
Hee Mang Sunlight Power Co., Ltd. |  | ￦ |  |  |  |  | 5,877 |  |  |  | 2,606 |  |  |  | 862 |  |  |  | 304 |
Fujeij Wind Power Company |  |  |  |  |  |  | 213,113 |  |  |  | 163,690 |  |  |  | — |  |  |  | 16,564 |
KOSPO Youngnam Power Co., Ltd. |  |  |  |  |  |  | 425,000 |  |  |  | 312,831 |  |  |  | 568,224 |  |  |  | 10,878 |
Chitose Solar Power Plant LLC |  |  |  |  |  |  | 109,964 |  |  |  | 94,366 |  |  |  | 14,384 |  |  |  | 1,615 |
KEPCO Energy Solution Co., Ltd. |  |  |  |  |  |  | 317,392 |  |  |  | 6,147 |  |  |  | 33,638 |  |  |  | 138 |
KEPCO Solar Co., Ltd. |  |  |  |  |  |  | 243,221 |  |  |  | 25,405 |  |  |  | 24,778 |  |  |  | 9,305 |
KOSPO Power Services Ltda. |  |  |  |  |  |  | 6,722 |  |  |  | 4,762 |  |  |  | 17,911 |  |  |  | (358 | )
Energy New Industry Specialized Investment Private Investment Trust(*3) |  |  |  |  |  |  | 451,762 |  |  |  | 4,338 |  |  |  | 24,725 |  |  |  | 7,093 |
KOEN Bylong Pty., Ltd. |  |  |  |  |  |  | 11 |  |  |  | 119 |  |  |  | — |  |  |  | (12 | )
KOMIPO Bylong Pty., Ltd. |  |  |  |  |  |  | 11 |  |  |  | 122 |  |  |  | — |  |  |  | (33 | )
KOWEPO Bylong Pty., Ltd. |  |  |  |  |  |  | 8 |  |  |  | 94 |  |  |  | — |  |  |  | (7 | )
KOSPO Bylong Pty., Ltd. |  |  |  |  |  |  | 25 |  |  |  | 148 |  |  |  | — |  |  |  | (17 | )
EWP Bylong Pty., Ltd. |  |  |  |  |  |  | 8 |  |  |  | 54 |  |  |  | — |  |  |  | 1 |
KOWEPO Lao International |  |  |  |  |  |  | 8,248 |  |  |  | 87 |  |  |  | 10,010 |  |  |  | 11,185 |
KEPCO US Inc. |  |  |  |  |  |  | 91 |  |  |  | — |  |  |  | — |  |  |  | (19,181 | )
KEPCO Mangilao Holdings LLC |  |  |  |  |  |  | 112,948 |  |  |  | 40,558 |  |  |  | 21,743 |  |  |  | 21,166 |
Mangilao Investment LLC |  |  |  |  |  |  | 258,674 |  |  |  | 4 |  |  |  | — |  |  |  | (1 | )
KEPCO Mangilao Solar, LLC |  |  |  |  |  |  | 240,736 |  |  |  | 373 |  |  |  | 8,870 |  |  |  | (14,818 | )
Jeju Hanlim Offshore Wind Co., Ltd. |  |  |  |  |  |  | 185,357 |  |  |  | 111,343 |  |  |  | — |  |  |  | (3,546 | )
PT. Siborpa Eco Power |  |  |  |  |  |  | 12,050 |  |  |  | 3 |  |  |  | — |  |  |  | (39 | )
PT. Korea Energy Indonesia |  |  |  |  |  |  | 1,675 |  |  |  | 80 |  |  |  | 1,937 |  |  |  | (104 | )
KOLAT SpA |  |  |  |  |  |  | 48,787 |  |  |  | 3,701 |  |  |  | 1,647 |  |  |  | 1,888 |
KEPCO California, LLC |  |  |  |  |  |  | 46,151 |  |  |  | 4,768 |  |  |  | 596 |  |  |  | (670 | )
KEPCO Mojave Holdings, LLC |  |  |  |  |  |  | 95,550 |  |  |  | 75,846 |  |  |  | — |  |  |  | (4,705 | )
Incheon Fuel Cell Co., Ltd. |  |  |  |  |  |  | 268,063 |  |  |  | 242,176 |  |  |  | 107,193 |  |  |  | (5,323 | )
KOEN Service Co., Ltd. |  |  |  |  |  |  | 9,353 |  |  |  | 7,035 |  |  |  | 36,340 |  |  |  | 356 |
KOMIPO Service Co., Ltd. |  |  |  |  |  |  | 6,597 |  |  |  | 4,503 |  |  |  | 35,031 |  |  |  | 905 |
KOWEPO Service Co., Ltd. |  |  |  |  |  |  | 6,266 |  |  |  | 3,130 |  |  |  | 34,031 |  |  |  | 171 |
KOSPO Service Co., Ltd. |  |  |  |  |  |  | 6,672 |  |  |  | 5,048 |  |  |  | 28,321 |  |  |  | 60 |
EWP Service Co., Ltd. |  |  |  |  |  |  | 3,756 |  |  |  | 2,507 |  |  |  | 24,526 |  |  |  | 581 |
PT. KOMIPO Energy Indonesia |  |  |  |  |  |  | 2,978 |  |  |  | 368 |  |  |  | 1,698 |  |  |  | 83 |
KNF partners Co., Ltd. |  |  |  |  |  |  | 2,285 |  |  |  | 1,053 |  |  |  | 5,997 |  |  |  | 293 |
KOSPO USA Inc. |  |  |  |  |  |  | 315,018 |  |  |  | 430 |  |  |  | — |  |  |  | 5,024 |
Nambu USA LLC |  |  |  |  |  |  | 297,516 |  |  |  | — |  |  |  | — |  |  |  | 670 |
Tamra Offshore Wind Power Co., Ltd. |  |  |  |  |  |  | 133,598 |  |  |  | 93,639 |  |  |  | 18,332 |  |  |  | 5,316 |
KEPCO MCS Co., Ltd. |  |  |  |  |  |  | 114,316 |  |  |  | 52,241 |  |  |  | 363,627 |  |  |  | 8,468 |
KEPCO FMS Co., Ltd. |  |  |  |  |  |  | 16,852 |  |  |  | 11,667 |  |  |  | 105,339 |  |  |  | 2,176 |
Firstkeepers Co., Ltd. |  |  |  |  |  |  | 16,448 |  |  |  | 12,912 |  |  |  | 84,620 |  |  |  | 2,482 |
Secutec Co., Ltd. |  |  |  |  |  |  | 12,578 |  |  |  | 9,209 |  |  |  | 69,383 |  |  |  | 690 |
SE Green Energy Co., Ltd. |  |  |  |  |  |  | 149,189 |  |  |  | 114,241 |  |  |  | 49,873 |  |  |  | 1,304 |
Mangilao Intermediate Holdings LLC |  |  |  |  |  |  | 236,266 |  |  |  | 116,426 |  |  |  | — |  |  |  | (4,709 | )
KEPCO CSC Co., Ltd. |  |  |  |  |  |  | 10,668 |  |  |  | 8,937 |  |  |  | 46,559 |  |  |  | (2,134 | )
KOAK Power Limited |  |  |  |  |  |  | 12,626 |  |  |  | 839 |  |  |  | — |  |  |  | 49 |
KOMIPO Europe B.V. |  |  |  |  |  |  | 81,364 |  |  |  | 54 |  |  |  | 1,195 |  |  |  | 1,134 |
Haenanum Energy Fund |  |  |  |  |  |  | 7,416 |  |  |  | 3 |  |  |  | — |  |  |  | (48 | )
Paju Ecoenergy Co., Ltd. |  |  |  |  |  |  | 61,930 |  |  |  | 3,066 |  |  |  | 20,718 |  |  |  | 1,290 |
Guam Ukudu Power LLC |  |  |  |  |  |  | 293,422 |  |  |  | 323,292 |  |  |  | — |  |  |  | (31,410 | )
K-SOLAR SHINAN Co., Ltd. (formerly, TS Energy No. 25 Co., Ltd.) |  |  |  |  |  |  | 320,227 |  |  |  | 296,141 |  |  |  | 16,980 |  |  |  | 3,690 |
KPS Partners Co., Ltd. |  |  |  |  |  |  | 3,619 |  |  |  | 2,007 |  |  |  | 12,417 |  |  |  | 487 |
KEPCO E&C Service Co., Ltd. |  |  |  |  |  |  | 5,676 |  |  |  | 1,897 |  |  |  | 16,180 |  |  |  | 1,493 |
Moha solar Co., Ltd. |  |  |  |  |  |  | 29,096 |  |  |  | 31,359 |  |  |  | 169 |  |  |  | (1,137 | )
Ogiri Solar Power Co., Ltd. |  |  |  |  |  |  | 1,033 |  |  |  | 23 |  |  |  | — |  |  |  | (30 | )
KHNP USA LLC |  |  |  |  |  |  | 1,290 |  |  |  | 97 |  |  |  | 1,127 |  |  |  | 392 |
KOMIPO Vanphong Power Service LLC |  |  |  |  |  |  | 15,940 |  |  |  | 3,333 |  |  |  | 20,233 |  |  |  | 9,871 |
Energy Innovation Fund I |  |  |  |  |  |  | 35,310 |  |  |  | 445 |  |  |  | — |  |  |  | (961 | )
KHNP Chile SpA |  |  |  |  |  |  | 5,547 |  |  |  | 4,147 |  |  |  | — |  |  |  | (16 | )
Yeong Yang Apollon Photovoltaic Co., Ltd. |  |  |  |  |  |  | 1,566 |  |  |  | 1,507 |  |  |  | 254 |  |  |  | (82 | )
2022 |
Subsidiaries |  |  |  |  | Total assets |  |  | Total liabilities |  |  | Sales |  |  | Profit (loss) for the year |
|  |  |  |  | In millions of won |
Yeong Yang Corporation Co., Ltd. |  | ￦ |  |  |  |  | 1,559 |  |  |  | 1,497 |  |  |  | 251 |  |  |  | (91 | )
SolarVader Co., Ltd. |  |  |  |  |  |  | 1,568 |  |  |  | 1,500 |  |  |  | 256 |  |  |  | (78 | )
Yeong Yang Innovation Co., Ltd. |  |  |  |  |  |  | 1,557 |  |  |  | 1,497 |  |  |  | 244 |  |  |  | (91 | )
Yeong Yang Horus Photovoltaic Co., Ltd. |  |  |  |  |  |  | 1,552 |  |  |  | 1,498 |  |  |  | 243 |  |  |  | (93 | )
Yeong Yang Solar Management Co., Ltd. |  |  |  |  |  |  | 1,573 |  |  |  | 1,500 |  |  |  | 262 |  |  |  | (75 | )
LSG Hydro Power Limited |  |  |  |  |  |  | 1,144 |  |  |  | 1,159 |  |  |  | — |  |  |  | (18 | )
KOEN Bio Co., Ltd. |  |  |  |  |  |  | 261 |  |  |  | 219 |  |  |  | 639 |  |  |  | (150 | )
KOMIPO Iberian Solar Group, S.L.U. |  |  |  |  |  |  | 78,094 |  |  |  | 65,012 |  |  |  | — |  |  |  | (1,304 | )
Jeongam Wind Power Co., Ltd. |  |  |  |  |  |  | 81,800 |  |  |  | 68,317 |  |  |  | 10,722 |  |  |  | 892 |
KOWEPO Europe B.V. |  |  |  |  |  |  | 42,865 |  |  |  | 2,422 |  |  |  | — |  |  |  | 1,668 |
Yeongdeok Sunrise Wind Power Co., Ltd. |  |  |  |  |  |  | 42,187 |  |  |  | 22,031 |  |  |  | — |  |  |  | (328 | )
KHNP Spain, S.L. |  |  |  |  |  |  | 3 |  |  |  | — |  |  |  | — |  |  |  | (1 | )
KA Power Limited |  |  |  |  |  |  | 3,937 |  |  |  | 418 |  |  |  | — |  |  |  | 442 |
Western Power Changgi Solar Co., Ltd. (formerly, Sam-Yang Photovoltaic Power Co., Ltd.) |  |  |  |  |  |  | 48,770 |  |  |  | 44,647 |  |  |  | 3,447 |  |  |  | (354 | )
EWP Australia Pty., Ltd. |  |  |  |  |  |  | 51,105 |  |  |  | — |  |  |  | — |  |  |  | 15,203 |
Columboola Solar Farm Hold Co Pty., Ltd. |  |  |  |  |  |  | 310,271 |  |  |  | 214,792 |  |  |  | 2,228 |  |  |  | 2,884 |
Digital Innovation Growth Fund |  |  |  |  |  |  | 12,594 |  |  |  | 100 |  |  |  | — |  |  |  | (363 | )
J Wind First, LLC |  |  |  |  |  |  | 33,611 |  |  |  | 33,611 |  |  |  | 450 |  |  |  | — |
KEPCO Holding Company |  |  |  |  |  |  | 3,273 |  |  |  | 17 |  |  |  | — |  |  |  | (18 | )
KEPCO for Power Company |  |  |  |  |  |  | 57,501 |  |  |  | 58,441 |  |  |  | — |  |  |  | (960 | )
KEPCO for Maintenance Company |  |  |  |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
KOSPO Trumbull LLC |  |  |  |  |  |  | 37 |  |  |  | 3 |  |  |  | — |  |  |  | — |
Changjuk Wind Power Co., Ltd. |  |  |  |  |  |  | 29,208 |  |  |  | 3,137 |  |  |  | 9,027 |  |  |  | 3,503 |
| (*1) | Financial information of EWP America Inc. includes that of two other subsidiaries, EWP Renewable Corporation, and California Power Holdings, LLC.
| (*2) | Financial information of KOMIPO America Inc. includes that of 17 other subsidiaries including Elara Equity Holdings, LLC and CVS Equity Holdings, LLC.
| (*3) | Financial information of Energy New Industry Specialized Investment Private Investment Trust includes that of five other subsidiaries, BSK E-New Industry Fund VII, e-New Industry LB Fund 1, Songhyun e-New Industry Fund, BSK E-New Industry Fund X, and UI Carbon-Neutrality Fund.
(4) | 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 of the Company.
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. Group’s shares cannot be wholly or partially transferred without prior written consent of financial institutions.
Jeongam Wind Power Co., Ltd. |  | Dividends can only be paid when all conditions of the loan agreement are satisfied, and payments to the contracting party may be restricted depending on the financial management priority of the contract. Group’s shares cannot be wholly or partially transferred without prior consent of other stakeholders including shareholders or financial institutions.
Incheon Fuel Cell Co., Ltd. |  | Acquisition or disposal of assets of more than ￦20 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 of the Company.
Gyeongju Wind Power Co., Ltd. |  | Dividends and settlement amounts for O&M and renewable energy certificate can only be paid when all conditions of the loan agreement are satisfied and prior written consent of financial institutions is obtained.
Korea Offshore Wind Power Co., Ltd. |  | Principals and interest payments on subordinated loans or dividends and settlement amounts for renewable energy certificate can only be paid when all conditions of the loan agreement are satisfied and prior written consent of financial institutions is obtained.
Jeju Hanlim Offshore Wind Co., Ltd. |  | Prior approval from the lender is required when withdrawing funds (major expenditure, REC settlement, dividend payment, etc.) according to the loan agreement.
Yeongdeok Sunrise Wind Power Co., Ltd. |  | Dividends can only be paid when all conditions of the loan agreement are satisfied.
Columboola Solar Farm Hold Co Pty., Ltd. |  | Dividends can only be paid when all conditions of the loan agreement are satisfied.
(5) | As of December 31, 2022, the Company has following entitlements in relation to its subsidiaries as per its shareholder’s agreements:
Company |  | Unrecognized Commitments
Jeongam Wind Power Co., Ltd. |  | When the Company requests other shareholders to transfer shares after the completion of the power generation complex, the Company has a right to purchase the shares at fair value.
Changjuk Wind Power Co., Ltd. |  | When other shareholders want to sell their shares after the performance guarantee period of wind power generators stipulated in the equipment supply contract is completed, the Company has an obligation to purchase the shares at fair value after consulting with the parties on the timing and size of the acquisition, taking in to account financial conditions, business conditions, and other circumstances.
Columboola Solar Farm Hold Co Pty., Ltd. |  | The Company holds a call option to purchase the shares held by another shareholder at 80 % of the stock’s valuation in the event of a breach of obligation specified in the shareholder agreement.
(6) | Details of non-controlling interests prior to intra-Company eliminations as of and for the years ended December 31, 2020, 2021 and 2022 are as follows:
2020 |
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 |  | ￦ |  |  |  |  | 236,602 |  |  |  | 755,454 |  |  |  | 235,805 |  |  |  | 801,813 |  |  |  | 2,029,674 |
Non-current assets |  |  |  |  |  |  | 85,464 |  |  |  | 590,403 |  |  |  | 463,439 |  |  |  | 3,499,258 |  |  |  | 4,638,564 |
Current liabilities |  |  |  |  |  |  | (12,322 | ) |  |  | (254,495 | ) |  |  | (186,296 | ) |  |  | (414,673 | ) |  |  | (867,786 | )
Non-current liabilities |  |  |  |  |  |  | (34,912 | ) |  |  | (42,020 | ) |  |  | (13,873 | ) |  |  | (2,511,848 | ) |  |  | (2,602,653 | )
Net assets |  |  |  |  |  |  | 274,832 |  |  |  | 1,049,342 |  |  |  | 499,075 |  |  |  | 1,374,550 |  |  |  | 3,197,799 |
Book value of non-controlling interests |  |  |  |  |  |  | 134,668 |  |  |  | 514,177 |  |  |  | 169,286 |  |  |  | 552,519 |  |  |  | 1,370,650 |
Sales |  |  |  |  |  |  | 81,400 |  |  |  | 1,299,186 |  |  |  | 431,723 |  |  |  | 956,692 |  |  |  | 2,769,001 |
Profit for the period |  |  |  |  |  |  | 39,443 |  |  |  | 85,916 |  |  |  | 20,160 |  |  |  | 107,661 |  |  |  | 253,180 |
Profit for the period attributable to non-controlling interests |  |  |  |  |  |  | 19,327 |  |  |  | 42,099 |  |  |  | 6,838 |  |  |  | 33,342 |  |  |  | 101,606 |
Cash flows from operating activities |  |  |  |  |  |  | 121,835 |  |  |  | 74,159 |  |  |  | 15,225 |  |  |  | 240,987 |  |  |  | 452,206 |
Cash flows from investing activities |  |  |  |  |  |  | 7,561 |  |  |  | 26,748 |  |  |  | (34,333 | ) |  |  | (661,820 | ) |  |  | (661,844 | )
Cash flows from financing activities before dividends to non-controlling interests |  |  |  |  |  |  | (31,793 | ) |  |  | (47,809 | ) |  |  | (9,165 | ) |  |  | 371,448 |  |  |  | 282,681 |
Dividends to non-controlling interests |  |  |  |  |  |  | (30,319 | ) |  |  | (42,336 | ) |  |  | (4,000 | ) |  |  | (4,643 | ) |  |  | (81,298 | )
Effect of exchange rate fluctuation |  |  |  |  |  |  | (8,153 | ) |  |  | (2,171 | ) |  |  | (22 | ) |  |  | (7,893 | ) |  |  | (18,239 | )
Net increase (decrease) of cash and cash equivalents |  |  |  |  |  |  | 59,131 |  |  |  | 8,591 |  |  |  | (32,295 | ) |  |  | (61,921 | ) |  |  | (26,494 | )
2021 |
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 |  | ￦ |  |  |  |  | 234,224 |  |  |  | 793,995 |  |  |  | 253,958 |  |  |  | 1,030,049 |  |  |  | 2,312,226 |
Non-current assets |  |  |  |  |  |  | 24,845 |  |  |  | 626,710 |  |  |  | 451,085 |  |  |  | 3,838,233 |  |  |  | 4,940,873 |
Current liabilities |  |  |  |  |  |  | (30,783 | ) |  |  | (265,017 | ) |  |  | (183,100 | ) |  |  | (599,373 | ) |  |  | (1,078,273 | )
Non-current liabilities |  |  |  |  |  |  | (7,772 | ) |  |  | (46,590 | ) |  |  | (8,492 | ) |  |  | (2,666,345 | ) |  |  | (2,729,199 | )
Net assets |  |  |  |  |  |  | 220,514 |  |  |  | 1,109,098 |  |  |  | 513,451 |  |  |  | 1,602,564 |  |  |  | 3,445,627 |
Book value of non-controlling interests |  |  |  |  |  |  | 108,052 |  |  |  | 543,458 |  |  |  | 174,163 |  |  |  | 720,761 |  |  |  | 1,546,434 |
Sales |  |  |  |  |  |  | 60,532 |  |  |  | 1,375,668 |  |  |  | 433,127 |  |  |  | 1,286,002 |  |  |  | 3,155,329 |
Profit for the year |  |  |  |  |  |  | 12,981 |  |  |  | 98,132 |  |  |  | 16,452 |  |  |  | 128,264 |  |  |  | 255,829 |
Profit for the year attributable to non-controlling interests |  |  |  |  |  |  | 6,361 |  |  |  | 48,085 |  |  |  | 5,581 |  |  |  | 28,914 |  |  |  | 88,941 |
Cash flows from operating activities |  |  |  |  |  |  | 116,440 |  |  |  | 133,160 |  |  |  | (16,270 | ) |  |  | 303,577 |  |  |  | 536,907 |
Cash flows from investing activities |  |  |  |  |  |  | 2,216 |  |  |  | (39,444 | ) |  |  | 19,061 |  |  |  | (309,447 | ) |  |  | (327,614 | )
Cash flows from financing activities before dividends to non-controlling interests |  |  |  |  |  |  | (88,927 | ) |  |  | (30,599 | ) |  |  | (8,467 | ) |  |  | 125,685 |  |  |  | (2,308 | )
Dividends to non-controlling interests |  |  |  |  |  |  | — |  |  |  | (25,269 | ) |  |  | (3,639 | ) |  |  | (2,608 | ) |  |  | (31,516 | )
Effect of exchange rate fluctuation |  |  |  |  |  |  | 10,683 |  |  |  | 885 |  |  |  | 38 |  |  |  | 7,243 |  |  |  | 18,849 |
Net increase (decrease) of cash and cash equivalents |  |  |  |  |  |  | 40,412 |  |  |  | 38,733 |  |  |  | (9,277 | ) |  |  | 124,450 |  |  |  | 194,318 |
F-9 4
2022 |
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 |  | ￦ |  |  |  |  | 230,031 |  |  |  | 861,705 |  |  |  | 372,031 |  |  |  | 1,147,973 |  |  |  | 2,611,740 |
Non-current assets |  |  |  |  |  |  | 1,101 |  |  |  | 693,748 |  |  |  | 443,502 |  |  |  | 4,942,229 |  |  |  | 6,080,580 |
Current liabilities |  |  |  |  |  |  | (3,642 | ) |  |  | (316,497 | ) |  |  | (243,796 | ) |  |  | (841,521 | ) |  |  | (1,405,456 | )
Non-current liabilities |  |  |  |  |  |  | — |  |  |  | (28,205 | ) |  |  | (28,323 | ) |  |  | (2,944,145 | ) |  |  | (3,000,673 | )
Net assets |  |  |  |  |  |  | 227,490 |  |  |  | 1,210,751 |  |  |  | 543,414 |  |  |  | 2,304,536 |  |  |  | 4,286,191 |
Book value of non-controlling interests |  |  |  |  |  |  | 111,470 |  |  |  | 593,268 |  |  |  | 184,326 |  |  |  | 565,796 |  |  |  | 1,454,860 |
Sales |  |  |  |  |  |  | 23,263 |  |  |  | 1,425,913 |  |  |  | 505,291 |  |  |  | 1,709,390 |  |  |  | 3,663,857 |
Profit for the year |  |  |  |  |  |  | 16,455 |  |  |  | 97,881 |  |  |  | 17,954 |  |  |  | 91,566 |  |  |  | 223,856 |
Profit for the year attributable to non-controlling interests |  |  |  |  |  |  | 8,063 |  |  |  | 47,962 |  |  |  | 6,090 |  |  |  | (24,370 | ) |  |  | 37,745 |
Cash flows from operating activities |  |  |  |  |  |  | 68,475 |  |  |  | 81,419 |  |  |  | 4,918 |  |  |  | 231,653 |  |  |  | 386,465 |
Cash flows from investing activities |  |  |  |  |  |  | 22,604 |  |  |  | 27,372 |  |  |  | 18,712 |  |  |  | (747,507 | ) |  |  | (678,819 | )
Cash flows from financing activities before dividends to non-controlling interests |  |  |  |  |  |  | (9,609 | ) |  |  | (33,187 | ) |  |  | (7,260 | ) |  |  | 582,580 |  |  |  | 532,524 |
Dividends to non-controlling interests |  |  |  |  |  |  | (8,834 | ) |  |  | (26,438 | ) |  |  | (3,071 | ) |  |  | (4,001 | ) |  |  | (42,344 | )
Effect of exchange rate fluctuation |  |  |  |  |  |  | 8,807 |  |  |  | (486 | ) |  |  | 5 |  |  |  | (11,023 | ) |  |  | (2,697 | )
Net increase of cash and cash equivalents |  |  |  |  |  |  | 81,443 |  |  |  | 48,680 |  |  |  | 13,304 |  |  |  | 51,702 |  |  |  | 195,129 |
(7) | Changes in goodwill
| (i) | Details of goodwill as of December 31, 2021 and 2022 are as follows:
|  |  |  |  | 2021 |  |  | 2022 |
|  |  |  |  | In millions of won |
Acquisition cost |  | ￦ |  |  |  |  | 105,647 |  |  |  | 100,093 |
Less: Accumulated impairment |  |  |  |  |  |  | — |  |  |  | — |
Carrying book value |  | ￦ |  |  |  |  | 105,647 |  |  |  | 100,093 |
| (ii) | Changes in goodwill for the years ended December 31, 2021 and 2022 are as follows:
|  |  |  |  | 2021 |
|  |  |  |  | Beginning |  |  | Increase |  |  | Decrease |  |  | Others |  |  | Ending |
|  |  |  |  | In millions of won |
Acquisition cost |  | ￦ |  |  |  |  | 98,166 |  |  |  | 7,481 |  |  |  | — |  |  |  | — |  |  |  | 105,647 |
Less: Accumulated impairment |  |  |  |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Carrying book value |  | ￦ |  |  |  |  | 98,166 |  |  |  | 7,481 |  |  |  | — |  |  |  | — |  |  |  | 105,647 |
|  |  |  |  | 2022 |
|  |  |  |  | Beginning |  |  | Increase |  |  | Decrease |  |  | Others |  |  | Ending |
|  |  |  |  | In millions of won |
Acquisition cost |  | ￦ |  |  |  |  | 105,647 |  |  |  | — |  |  |  | — |  |  |  | (5,554 | ) |  |  | 100,093 |
Less: Accumulated impairment |  |  |  |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Carrying book value |  | ￦ |  |  |  |  | 105,647 |  |  |  | — |  |  |  | — |  |  |  | (5,554 | ) |  |  | 100,093 |
(8) | Disposals of subsidiaries
The Company has completed the liquidation process of EWPRC Biomass Holdings, LLC, KEPCO Alamosa LLC, and KEPCO Mangilao America LLC, and has disposed of shares of KEPCO Solar of Alamosa LLC during the year ended December 31, 2022. The Company had completed the liquidation process of VI Carbon Professional Private Special Asset Investment Trust 1, KOSEP USA, Inc., and Korea Imouraren Uranium Investment Corp. and had disposed of shares of DG Fairhaven Power, LLC during the year ended December 31, 2021.
(9) | Cash dividends received from subsidiaries for the years ended December 31, 2020, 2021 and 2022, respectively, are as follows:
Subsidiaries |  |  |  |  | 2020 |  |  | 2021 |  |  | 2022 |
|  |  |  |  | In millions of won |
Korea Hydro & Nuclear Power Co., Ltd. |  | ￦ |  |  |  |  | 106,675 |  |  |  | 279,779 |  |  |  | 136,010 |
Korea South-East Power Co., Ltd. |  |  |  |  |  |  | 11,905 |  |  |  | — |  |  |  | 4,808 |
Korea Midland Power Co., Ltd. |  |  |  |  |  |  | — |  |  |  | — |  |  |  | 24,694 |
Korea East-West Power Co., Ltd. |  |  |  |  |  |  | 17,959 |  |  |  | — |  |  |  | 4,866 |
KEPCO Engineering & Construction Company, Inc. |  |  |  |  |  |  | 7,793 |  |  |  | 7,089 |  |  |  | 5,983 |
KEPCO Plant Service & Engineering Co., Ltd. |  |  |  |  |  |  | 44,068 |  |  |  | 26,301 |  |  |  | 27,517 |
KEPCO Nuclear Fuel Co., Ltd. |  |  |  |  |  |  | 7,270 |  |  |  | 5,206 |  |  |  | 11,184 |
KEPCO KDN Co., Ltd. |  |  |  |  |  |  | 14,720 |  |  |  | 18,854 |  |  |  | 36,986 |
KEPCO Energy Solution Co., Ltd. |  |  |  |  |  |  | — |  |  |  | — |  |  |  | 1,707 |
KEPCO Solar Co., Ltd. |  |  |  |  |  |  | — |  |  |  | — |  |  |  | 1,409 |
KEPCO International HongKong Ltd. |  |  |  |  |  |  | 11,858 |  |  |  | — |  |  |  | 9,044 |
KEPCO Philippines Corporation |  |  |  |  |  |  | — |  |  |  | — |  |  |  | 2,375 |
KEPCO Ilijan Corporation |  |  |  |  |  |  | 34,502 |  |  |  | 7,955 |  |  |  | 9,195 |
KEPCO Philippines Holdings Inc. |  |  |  |  |  |  | 70,876 |  |  |  | 60,520 |  |  |  | 34,913 |
KOSEP Australia Pty., Ltd. |  |  |  |  |  |  | 1,856 |  |  |  | — |  |  |  | — |
KOSPO Australia Pty., Ltd. |  |  |  |  |  |  | — |  |  |  | 3,095 |  |  |  | 31,386 |
KEPCO Netherlands B.V. |  |  |  |  |  |  | 11,098 |  |  |  | — |  |  |  | 16,795 |
Qatrana Electric Power Company |  |  |  |  |  |  | — |  |  |  | 2,615 |  |  |  | 2,751 |
KEPCO KPS Philippines Corp. |  |  |  |  |  |  | 1,215 |  |  |  | — |  |  |  | 302 |
Tamra Offshore Wind Power Co., Ltd. |  |  |  |  |  |  | 2,640 |  |  |  | — |  |  |  | 2,877 |
KEPCO Netherlands S3 B.V. |  |  |  |  |  |  | 6,981 |  |  |  | — |  |  |  | 4,005 |
PT. KOMIPO Pembangkitan Jawa Bali |  |  |  |  |  |  | — |  |  |  | 153 |  |  |  | 859 |
PT. EWP Indonesia |  |  |  |  |  |  | — |  |  |  | — |  |  |  | 4,262 |
Gyeongju Wind Power Co., Ltd. |  |  |  |  |  |  | 2,800 |  |  |  | 2,800 |  |  |  | 2,100 |
VI Carbon Professional Private Special Asset Investment Trust 1 |  |  |  |  |  |  | 7 |  |  |  | — |  |  |  | — |
KOSPO Power Services Limitada |  |  |  |  |  |  | — |  |  |  | — |  |  |  | 305 |
KEPCO Netherlands J3 B.V. |  |  |  |  |  |  | — |  |  |  | 27,237 |  |  |  | 46,510 |
PT. Cirebon Power Service |  |  |  |  |  |  | 221 |  |  |  | — |  |  |  | 241 |
Chitose Solar Power Plant LLC |  |  |  |  |  |  | 858 |  |  |  | — |  |  |  | 639 |
Fujeij Wind Power Company |  |  |  |  |  |  | 6,306 |  |  |  | 11,920 |  |  |  | 15,102 |
KOSPO Jordan LLC |  |  |  |  |  |  | 535 |  |  |  | 731 |  |  |  | 11,450 |
EWP America Inc. |  |  |  |  |  |  | — |  |  |  | — |  |  |  | 3,887 |
KOWEPO Lao International |  |  |  |  |  |  | — |  |  |  | — |  |  |  | 12,106 |
Energy Innovation Fund I |  |  |  |  |  |  | 19 |  |  |  | — |  |  |  | — |
|  | ￦ |  |  |  |  | 362,162 |  |  |  | 454,255 |  |  |  | 466,268 |

X
- References No definition available. + Details
Name: | ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of subsidiaries. [Refer: Subsidiaries [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2022-03-24 -Paragraph 17 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=27&code=ifrs-tx-2022-en-r&anchor=para_17_b&doctype=Standard -URIDate 2022-03-24 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2022-03-24 -Paragraph 16 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=27&code=ifrs-tx-2022-en-r&anchor=para_16_b&doctype=Standard -URIDate 2022-03-24 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2022-03-24 -Paragraph B4 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2022-en-r&anchor=para_B4_a&doctype=Appendix&subtype=B -URIDate 2022-03-24 + Details
Name: | ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration