Fact Source: Financial Supervisory Service DART
Market: KOSPI (015760)
💡 3-Second Summary
KEPCO has filed a correction disclosure adjusting its total debt guarantee balance to approximately KRW 4.361T to include existing debt guarantees and issued L/C performance guarantees for its Saudi power plant projects.
📊 [Key Disclosure Contents & Major Financial Figures]
- Correction Overview
- Original Disclosure Title: Decision on Debt Guarantee for Others (Initially filed on November 20, 2024)
- Reasons for Correction: Modification of total debt guarantee balance and updates to other important management matters
- Key Changes (Before vs. After)
- Total Debt Guarantee Balance:
- Before: KRW 1.423T (KRW 1,422,624,000,000)
- After: KRW 4.361T (KRW 4,360,664,274,062)
- Calculation Scope in Other Important Matters:
- Before: Stated as the guarantee amount under the current disclosure only
- After: Corrected to include existing debt guarantees and issued L/C performance guarantees
- Target Entity Description in Guarantee Amount:
- Before: Sum of guarantee amounts for two projects (Ruma and Nairyah)
- After: Sum of guarantee amounts for two project entities (Remal Energy Company and Naseem Energy Company)
- Primary Debt Guarantee Terms
- Debtors: Remal Energy Company, Naseem Energy Company (Two project entities)
- Creditors: Project Owner (Saudi Power Procurement Company), Lender Group (Unconfirmed prior to financial contract execution)
- Debt Guarantee Amount: KRW 1.423T (KRW 1,422,624,000,000 / USD 1,022,000,000 at exchange rate of 1,392.00 KRW/$)
- Debt Guarantee Balance per Debtor: Remal Energy Company KRW 711.312B (USD 511,000,000), Naseem Energy Company KRW 711.312B (USD 511,000,000)
- Ratio to Total Equity: 3.8% (Based on FY2023 consolidated total equity of KRW 37.265T)
- Guarantee Period: Start date at PPA execution; end date at the termination of the project entity’s power plant operation period (To be finalized via follow-up disclosure upon agreement execution)
- Board Resolution Date: November 20, 2024 (8 Outside Directors present, 0 absent / Auditor present)
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Verification of Total Debt Guarantee Scope and Follow-up Terms Finalization
This correction filing adjusts the total debt guarantee balance by incorporating L/C performance guarantees along with existing debt guarantees. Understanding the revised scope of the total guarantee balance and monitoring how currently unconfirmed terms—such as the lender group composition and guarantee period—are finalized through subsequent agreements is important. Investors can confirm further details through subsequent official filings or periodic reports.
📢 Disclaimer & Source Notice
Source: This content has been re-structured and generated based on official corporate filing data from the Financial Supervisory Service’s DART system.
Investment Risk Warning: This information is provided for informational and linguistic reference purposes only. Under no circumstances does it constitute financial advice or a recommendation to buy or sell specific securities. All investment decisions and financial responsibilities rest entirely with the investor.
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