KEPCO Files Corporate Governance Report Summary

TL;DR

KEPCO dropped a corporate governance report summary, giving investors a peek under the hood.

AI Summary

Korea Electric Power Corporation (KEPCO) has filed a Form 6-K on June 28, 2024, to provide investors with further information regarding its corporate governance. This report is a summary in English of a Korean-prepared Corporate Governance Report, intended to enhance investor understanding of KEPCO's governance practices.

Why It Matters

This filing provides transparency into KEPCO's corporate governance structure, which is crucial for investors assessing the company's stability and management practices.

Risk Assessment

Risk Level: low — This is a routine disclosure of corporate governance information, not indicating any immediate financial or operational risks.

Key Players & Entities

• KOREA ELECTRIC POWER CORPORATION (company) — Filer of the report
• KEPCO (company) — Abbreviation for Korea Electric Power Corporation
• 0000887225 (company) — Central Index Key for KEPCO
• 4911 (company) — Standard Industrial Classification for Electric Services
• 20240628 (date) — Filing date

FAQ

Filing Documents

• d809587d6k.htm (6-K) — 363KB
• 0001193125-24-171198.txt ( ) — 364KB

From the Filing

Form 6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER Pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934 For the Month of June 2024 KOREA ELECTRIC POWER CORPORATION (Translation of registrants name into English) 55 Jeollyeok-ro, Naju-si, Jeollanam-do, 58322, Korea (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-FForm 40-F Corporate Governance Report KEPCO has prepared this report in accordance with Article 24-2 of the Enforcement Rules of KOSPI Market Disclosure Regulation of Korea Exchange in order to provide investors with further information to help them better understand KEPCOs corporate governance. This is a summary in English of the Corporate Governance Report originally prepared in Korean. In the translation process, some parts of the report have been reformatted, rearranged or summarized for the convenience of readers. Nonmaterial or previously disclosed information may also have been omitted or abridged. Unless expressly stated otherwise, this report reflects KEPCOs corporate governance structure as of May 31, 2024. I. Key indicators of Governance Compliance Rate : 80% Key indicator 2023 Notification 4 weeks before the General Meeting X Electronic voting system O Avoid the rush day for the Annual General Meeting O Providing predictability related to cash dividends X Notification of dividend policy at least once a year X Succession policy for CEO O Internal control policy such as risk management O The outside director chaired the board of directors O Adopting a concentrated voting system O Preventing the appointment of executives responsible for damaging corporate value or shareholders rights O All directors are not single-sex O Independent internal audit department O Accounting or financial experts in the internal audit organization O The internal audit organization met the external auditor without directors more than once a quarter O The internal audit organization could access important management information O II. Corporate Governance 1. Corporate Governance Policy (1) Shareholders KEPCO has been striving for transparent governance from the time of listing on the stock market to protect shareholders rights and enhance shareholder value. (2) Board of Directors In order to effect transparency in its corporate governance, anyone interested in KEPCOs corporate governance practice can access, at its corporate website, Articles of Incorporation of KEPCO, Regulations Concerning the Board of Directors, Regulations Concerning Operations of the Audit Committee and KEPCOs other internal regulations related to its corporate governance. To ensure the transparency of its corporate governance through an independent decision-making process, KEPCO operates a majority of directors as non-standing directors. The Board of Directors is composed of seven standing directors including the CEO and eight non-standing directors. The chairperson of the Board of Directors is appointed upon among non-standing directors for fair gathering of opinions and suggestions on the overall management. Furthermore, non-standing directors are elected from professionals with basis of finance, accounting, labor management and energy industries, so as to fulfill ones role of consulting and suggesting about the agenda of board meetings. KEPCO strives to provide sufficient information on each agenda to directors before the board meeting so that the directors can make an informed decision. (3) Audit The Audit Committee inspects the accounting and management issues, and also evaluates the operation of Internal Control over Financial Reporting. Moreover, it supervises the performance of directors and management to let them make rational business decisions. The Audit Committee consists of three directors, two of who are required to be non-standing directors. The chairperson of the committee is required to be a non-standing director. One member of the Audit Committee is a standing director and is appointed with the recommendation of the Director Nomination Committee and by the resolution of the general meeting of shareholders. Other members of the Audit Committee who are non-standing directors are appointed from among non-standing directors and by the resolution of the general meeting of shareholders. The Audit Committee maintains its objectivity on conducting an audit, working separately from the directors and the management. If it is necessary to carry out its duties, the committee may request any related executive or employee to be present at the committee, to submit reports and to state ones opinion. Also, the committee may seek advice from external experts at the companys expense. 2. Key Characteristics of Cor

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View this 6-K filing on SEC EDGAR