Fact Source: Financial Supervisory Service DART
Market: KOSPI (015760)
💡 3-Second Summary
KEPCO filed a corrected disclosure to fix a typographical error in the total debt guarantee text, revising the current balance to approx. KRW 1.1733 trillion (USD 843 million) for the Saudi combined-cycle power project.
📊 Key Disclosure Content & Financial Highlights
• Disclosure Title: (Correction) Decision to Guarantee Debt for Others
• Correction Reason: Correction of typographical error in key matters related to investment decisions
• Initial Filing Date: August 12, 2025 (Correction Date: August 12, 2025)
• Key Correction Details:
- Current Debt Guarantee Balance in Key Matters: (Before Correction) KRW 1,196,151,649,214 → (After Correction) KRW 1,173,253,249,214 (KRW ~1.1733T / USD 842,854,345.70)
• Debt Guarantee Details:
- Debtors: Remal Energy Company, Naseem Energy Company (Project entities for Saudi Ruma and Nairyah combined-cycle power project)
- Creditors: Saudi Power Procurement Company (Offtaker), Development Bank of Singapore (Lenders), Standard Chartered Bank et al. (Lenders)
- Guarantee Amount: KRW 1,173,253,249,214 (KRW ~1.1733T / USD 842,854,345.70)
- Ratio to Equity: 2.8% (Based on 2024 year-end consolidated equity of KRW 41,362,833,061,743)
- Total Debt Guarantee Balance: KRW 2,508,354,664,718 (KRW ~2.5084T)
- Guarantee Period: November 28, 2024 – March 20, 2032 (Varies by individual guarantee contract)
- Foreign Exchange Rate Applied: USD 1 = KRW 1,392.00 (Hana Bank basic exchange rate on Nov 20, 2024)
• Guarantee Balance by Debtor:
- Remal Energy Company: KRW 585,442,213,915 (USD 420,576,303.10)
- Naseem Energy Company: KRW 587,811,035,299 (USD 422,278,042.60)
• Detailed Breakdown of Guarantees:
- Equity Contribution Guarantee for PPA Performance: USD 16,000,000 each
- Equity-Bridge Loan Principal & Interest Guarantee: USD 120,000,000 each
- Equity Contribution Guarantee: Remal USD 108,026,303.10 / Naseem USD 109,278,042.60
- Localization Requirement Performance Guarantee: Remal USD 26,550,000 / Naseem USD 27,000,000
• Board Resolution Date: November 20, 2024 (All 8 Outside Directors Present / Audit Committee Member Present)
• Related Disclosures: Decision to Guarantee Debt for Others dated July 24, 2025, and prior filings
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Verification of Guarantee Contract Details and Subsequent Corrective Disclosures
This corrected filing fixes a clerical error in the reported debt guarantee balance text (from KRW ~1.1962T to KRW ~1.1733T) regarding the Saudi combined-cycle power project. Checking for any subsequent corrective disclosures as individual guarantee agreements are finalized or amended is important for tracking the progress of this overseas project. Relevant details can be verified through future corrective disclosures and official periodic reports.
📢 Disclaimer & Source Notice
Source: This content was structured and newly authored based on official data submitted to the Financial Supervisory Service’s Data Analysis, Retrieval and Transfer System (DART).
Investment Risk Warning: This content is provided solely for informational and educational purposes. Under no circumstances does it constitute financial advice or a recommendation to buy or sell any specific stock. All investment decisions and financial responsibilities rest entirely with the individual investor.
Contact: For compliance inquiries or copyright requests, please contact ksb220805@gmail.com.
