KEPCO Adds KRW 113.8B to KENTECH
Ticker: KEP · Form: 6-K · Filed: Jun 21, 2024 · CIK: 887225
Sentiment: neutral
Topics: funding, education, update
TL;DR
KEPCO just dumped another KRW 113.8B into KENTECH, updating prior funding announcements.
AI Summary
Korea Electric Power Corporation (KEPCO) announced on June 20, 2024, that its Board of Directors approved an additional contribution of KRW 113.8 billion to the Korea Institute of Energy Technology (KENTECH). This new contribution includes a previously disclosed KRW 76.6 billion, updating prior disclosures from August 9, 2019, May 21, 2021, July 15, 2022, June 28, 2023, and February 26, 2024.
Why It Matters
This significant financial commitment to KENTECH underscores KEPCO's dedication to advancing energy technology and education, potentially impacting future energy innovations and workforce development.
Risk Assessment
Risk Level: low — The filing is an update on a previously disclosed funding commitment and does not introduce new material risks.
Key Numbers
- KRW 113.8 billion — Additional Contribution to KENTECH (KEPCO's Board of Directors approved this amount on June 20, 2024.)
- KRW 76.6 billion — Previously Disclosed Contribution (This amount is part of the new KRW 113.8 billion contribution.)
Key Players & Entities
- Korea Electric Power Corporation (company) — Registrant
- KEPCO (company) — Abbreviation for Korea Electric Power Corporation
- Korea Institute of Energy Technology (company) — Recipient of contribution
- KENTECH (company) — Abbreviation for Korea Institute of Energy Technology
- KRW 113.8 billion (dollar_amount) — Additional contribution amount
- KRW 76.6 billion (dollar_amount) — Portion of the new contribution previously disclosed
- June 20, 2024 (date) — Date of Board of Directors resolution
FAQ
What is the purpose of the contribution to KENTECH?
The filing states the contribution is to update disclosures regarding KEPCO's contributions to KENTECH, implying support for its operations and development.
When was the additional contribution approved?
The Board of Directors of KEPCO resolved to make the additional contribution on June 20, 2024.
How much is the total additional contribution?
The total additional contribution approved is KRW 113.8 billion.
Does this new contribution supersede previous disclosures?
Yes, this Form 6-K is being furnished to update the disclosures in prior Forms 6-K regarding contributions to KENTECH.
What is KEPCO's primary business?
KEPCO is primarily involved in electric services, as indicated by its Standard Industrial Classification code 4911.
Filing Stats: 239 words · 1 min read · ~1 pages · Grade level 12.5 · Accepted 2024-06-21 06:06:57
Filing Documents
- d776960d6k.htm (6-K) — 7KB
- 0001193125-24-165061.txt ( ) — 8KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. By: /s/ Chang, Nam-yeon Name: Chang, Nam-yeon Title: Head of Finance & IR Team Date: June 21, 2024