Article 1(Purpose) #
The purpose of this Decree is to prescribe matters mandated by the Korea Electric Power Corporation Act and those necessary for enforcing said Act.
[This Article Wholly Amended on Oct. 13, 2010]
Article 2(Registration of incorporation) #
Matters regarding the registration of incorporation of the Korea Electric Power Corporation (hereinafter referred to as the "Corporation") under Article 7 (2) of the Korea Electric Power Corporation Act (hereinafter referred to as the "Act") shall be as follows:
1. The purpose of establishment;
2. The name of the Corporation;
3. The location of the principal office, branches, and branch offices;
4. The total number of shares to be issued by the Corporation;
5. Amount per share;
6. The total number of shares initially issued by the Corporation;
7. The names and addresses of executive officers;
8. Method of public announcement.
[This Article Wholly Amended on Oct. 13, 2010]
Article 3(Registration of establishment of branches) #
Where the Corporation has established a branch or branch office (hereinafter referred to as "branch office"), it shall register the name, location, and date of establishment of the branch office at the location of its main office within 2 weeks after the establishment thereof.
[This Article Add on Jan. 21, 2025]
Article 4(Registration of relocation) #
(1) Where the Corporation relocates its main office, it shall register the new location and the date of relocation at the former location or new location within 2 weeks after the relocation.
(2) Where the Corporation relocates its branch office, it shall register the new location and the date of relocation at the former location or new location within 2 weeks after the relocation.
[This Article Add on Jan. 21, 2025]
Article 5(Registration of changes) #
Where a change occurs to any matter registered under any subparagraph of Article 2 or Article (excluding cases falling under the registration of relocation under Article 4), the Corporation shall file for registration of the changed matters at the location of its main office within 2 weeks after the change.
[This Article Add on Jan. 21, 2025]
Article 6(Registration of appointment of agent) #
(1) Where the president appoints an agent pursuant to Article 11 of the Act, the Corporation shall file for registration of the following matters at the location of its main office within 2 weeks after the appointment. The same shall also apply where any of the registered matters is changed: <Amended on Jan. 21, 2025>
1. The name and address of the agent;
2. The name and location of the principal office or branch office to which the agent is assigned;
3. If the authority of the agent is restricted, the details of the restriction.
(2) Where the president dismisses an agent appointed pursuant to Article 11 of the Act, the Corporation shall file for registration of the fact of dismissal at the location of its main office within 2 weeks after the dismissal. <Amended on Jan. 21, 2025>
[This Article Wholly Amended on Oct. 13, 2010]
Article 7(Documents attached to application for registration) #
When the Corporation files an application for registration, it shall attach the following documents to the application for registration:
1. In cases of registration of establishment under Article 2: Articles of incorporation, capital, and documents certifying the qualifications of executive officers;
2. In cases of registration of establishment of a branch office under Article 3: Documents certifying the establishment of the branch office;
3. In cases of registration of relocation under Article 4: A document certifying the relocation of the principal office or branch office;
4. In cases of registration of change under Article 5: Documents proving changed matters;
5. In cases of registration of appointment, replacement, or dismissal of an agent under Article 6: A document certifying that the appointment, replacement, or dismissal of an agent is in accordance with Article 11 of the Act, and if the agent's authority is restricted pursuant to Article 6 (1) 3, a document certifying that the restriction.
[This Article Wholly Amended on Oct. 13, 2010]
Article 8(Start date in computing period of registration) #
Where the Corporation is required to obtain authorization or approval from the Minister of Trade, Industry and Energy as to matters to be registered by the Corporation, the period of registration shall begin to run from the date on which the documents concerning such approval or authorization reach the applicant, respectively. <Amended on Mar. 23, 2013>
[This Article Wholly Amended on Oct. 13, 2010]
Article 9(Research and technology development) #
(1) The president shall formulate a project plan for research and technology development under Article 13 (1) 3 of the Act (hereinafter referred to as "research and technology development") each year through resolution by the board of directors, and submit the project plan formulated to the Minister of Trade, Industry and Energy before the start of the following year. The same shall also apply to any changes to the project plan for research and technology development. <Amended on Mar. 23, 2013>
(2) The project plan for research and technology development under paragraph (1) shall include the following:
1. Matters regarding research and technical development projects;
2. Plans to foster and support institutes that research electric power;
3. Matters regarding investments and contributions;
4. Other matters deemed necessary for research and technology development.
(3) Institutes eligible for contributions to conduct research and technology development projects under paragraph (2) 1 (hereinafter referred to as "eligible institutes") shall be as follows: <Amended on Apr. 30, 2024>
1. The Korea Energy Economics Institute;
2. The Korea Institute of Science and Technology;
3. The Korea Atomic Energy Research Institute;
4. The Korea Institute of Energy Research;
5. The Electronics and Telecommunications Research Institute;
6. The Korea Electrotechnology Research Institute;
7. The Korea Research Institute of Chemical Technology;
8. The Korea Institute of Machinery and Materials;
9. The Korea Research Institute of Standards and Science;
10. The Electrical Engineering and Science Research Institute;
11. The Korea Institute of Energy Technology Evaluation and Planning under Article 13 of the Energy Act;
12. The Korea Institute of Industrial Technology;
13. The Korea Electrical Manufacturers Association established under Article 38 of the Industrial Development Act;
Article 9-2(Submission of project plans) #
(1) An eligible institute under the subparagraphs of Article 9 (3) that seeks to receive contributions shall submit a project plan and budget to the president no later than 4 months before the beginning of each fiscal year as prescribed by the president. The same shall also apply if any change is made to the project plan or budget.
(2) The president may require adjustment of the project plan or budget under paragraph (1) if it is recognized that it is not feasible.
(3) The eligible institute shall submit the results of execution of quarterly project plans and budget execution plans to the president within 20 days from the end of the quarter.
(4) Except as provided in paragraphs (1) through (3), detailed matters necessary for research and technology development shall be determined by the Corporation.
[This Article Wholly Amended on Oct. 13, 2010]
Article 9-3(Requirements for business of utilizing Corporation-owned real estate) #
"Requirements prescribed by Presidential Decree" in Article 13 (1) 7 of the Act means the following requirements:
1. There shall be a need to develop the Corporation-owned real estate due to the occurrence of external factors, such as relocation or integration of substations or offices or such of the Corporation, indoorization, undergroundization, or aging;
2. Corporation-owned real estate is included in or connected to an urban plan and there shall be a need to develop the Corporation-owned real estate in accordance with the development direction of the regional development.
[This Article Wholly Amended on Oct. 13, 2010]
Article 9-4(Approval of business of utilizing Corporation-owned real estate) #
(1) Where the Corporation intends to obtain approval from the Minister of Trade, Industry and Energy pursuant to Article 13 (3) of the Act, it shall prepare a business plan, including the following matters, and submit it to the Minister of Trade, Industry and Energy: <Amended on Mar. 23, 2013>
1. The business purpose;
2. The location and size of area where business is conducted;
3. The business period;
4. Methods of conducting business;
5. Business costs and methods of financing them;
6. Data on business feasibility analysis;
7. Other matters necessary for conducting business.
(2) The Minister of Trade, Industry and Energy may approve an application under paragraph (1) if it meets each of the following requirements: <Amended on Mar. 23, 2013>
1. To meet any of the requirements prescribed in the subparagraphs of Article 9-3;
2. To comply with the methods of conducting business under Article 13 (4) of the Act.
(3) Where the Minister of Trade, Industry and Energy intends to approve business activities pursuant to paragraph (2), he or she may hear opinions from related agencies, real estate development project experts, etc. <Amended on Mar. 23, 2013>
(4) The Minister of Trade, Industry and Energy shall notify the Corporation of whether to approve business activities within 30 days from the date of receipt of a business plan under paragraph (1): provided, if there are unavoidable reasons such as the large scale of business activities, the period may be extended by up to 20 days. <Amended on Mar. 23, 2013>
[This Article Wholly Amended on Oct. 13, 2010]
Article 9-5(Directly conducting business of utilizing Corporation-owned real estate) #
"Cases prescribed by Presidential Decree" in the proviso of Article 13 (4) of the Act means cases that meet all of the following requirements:
1. A public contest is required for conducting the business of utilizing Corporation-owned real estate that meets either of the requirements under the subparagraphs of Article 9-3;
2. A person entitled to be entrusted or trust business entity under the main clause of Article 13 (4) of the Act or shall not participate in a public contest under subparagraph 1.
[This Article Wholly Amended on Oct. 13, 2010]
Article 9-6(Submission of the results of using profits from business of utilizing Corporation-owned real estate) #
The Corporation shall submit the results of the use of the profits from the business of utilizing Corporation-owned real estate pursuant to Article 14 (2) of the Act to the Minister of Trade, Industry and Energy by March 31 of the following year. <Amended on Mar. 23, 2013>
[This Article Wholly Amended on Oct. 13, 2010]
Article 10(Form of bonds) #
Bonds issued pursuant to Article 16 of the Act shall be issued in bearer form; provided, it may be issued in registered form at the request of a subscriber or holder.
[This Article Wholly Amended on Oct. 13, 2010]
Article 11(Methods of issuing bonds) #
(1) Where the Corporation issues bonds, it shall issue bonds through offering, firm commitment underwriting, or sale.
(2) Where bonds are issued by sale pursuant to paragraph (1), the period of sale and matters prescribed in Article 12 (2) 1 through 6 shall be publicly announced in advance.
[This Article Wholly Amended on Oct. 13, 2010]
Article 12(Subscription for bonds) #
(1) A person who intends to subscribe for bonds during the offering shall write the number of bonds for which he or she intends to subscribe, the subscription price, and the address of the subscriber on 2 bond subscription forms and print his or her name and affix his or her seal thereon; provided, if bonds are issued with a fixed minimum value, he or she shall specify his or her subscription value.
(2) The bond subscription form shall include the following matters: <Amended on Jan. 5, 2021>
1. The name of the Corporation;
2. The total value of bonds issued;
3. Face par value of each type of bonds;
4. Interest rates on bonds;
5. Method and term of redemption of bonds and method of payment of interest;
6. The issue value or minimum value of bonds;
7. The total value of bond not yet redeemed, if any;
8. The name and address of the company, if any, entrusted with the offering of bonds.
[This Article Wholly Amended on Oct. 13, 2010]
Article 13(Methods for firm commitment underwriting) #
Article 12 shall not apply where all bonds are underwritten under an agreement. The foregoing shall also apply to the underwritten portion of bonds where a company entrusted with the offering of bonds underwrites part of the bonds.
[This Article Wholly Amended on Oct. 13, 2010]
Article 14(Total value of issued bonds) #
When issuing bonds, the Corporation may indicate in a bond subscription form that it intends to issue the bonds even in cases where the total value of bonds actually subscribed is less than of the total value of the bonds issued as stated in the bond subscription form. In such cases, the total value of bonds subscribed shall be deemed the total value of bonds issued.
[This Article Wholly Amended on Oct. 13, 2010]
Article 15(Payment of price for subscribed bonds) #
(1) When subscriptions for bonds is closed, the Corporation shall require the subscribers to pay the price for the subscribed bonds in full without delay.
(2) A company entrusted with the offering of bonds may conduct the act under paragraph (1) in its own name for the Corporation.
(3) Where bonds are to be issued by means of offering, such bonds shall not be issued unless the price equivalent to the total value of the bond to be issued is fully paid.
[This Article Wholly Amended on Oct. 13, 2010]
Article 16(Matters to be stated on bond certificates) #
Each bond shall contain descriptions of the following matters and the president shall print his or her name and affix his or her seal thereon:
1. The name of the Corporation;
2. Matters prescribed in Article 12 (2) 2 through 5 (excluding matters prescribed in Article 12 (2) 2 where bonds are issued by sale);
3. The serial number of each bond;
4. The issue date of each bond.
[This Article Wholly Amended on Oct. 13, 2010]
Article 17(Bond register) #
(1) The Corporation shall keep a bond register in its principal place of business and shall enter the records of the following matters therein: <Amended on Jan. 5, 2021>
1. The number and serial number of each type of bond;
2. The issue date of bonds;
3. Matters under Article 12 (2) 2 through 5 and 8.
(2) If bonds are in registered form, the following matters shall be recorded in addition to the matters under the subparagraphs of paragraph (1):
1. The name and address of each bond owner;
2. The acquisition date of the bonds.
(3) The owner or holder of bonds may request to inspect the bond register at any time during the Corporation's business hours.
[This Article Wholly Amended on Oct. 13, 2010]
Article 18(Defect in interest coupon) #
(1) When redeeming bearer bonds with interest coupons, if the interest coupons are defective, an amount equivalent to the interest coupons shall be deducted from the redemption amount.
(2) The holder of an interest coupon under paragraph (1) may claim payment of the amount deducted in exchange for the interest.
[This Article Wholly Amended on Oct. 13, 2010]
Article 19(Notification to bond holders) #
(1) Notices or peremptory notices to subscribers or holders of rights prior to the issuance of bonds shall be given to them at the addresses specified in the bond subscription forms. In such cases, if the Corporation is notified of a different address, such notice shall be given to the address so notified.
(2) Notices or peremptory notices to the holders of bonds in bearer form shall be given by means of public announcement; provided, this need not be required where the address is known.
(3) Notices or peremptory notices to the owners of bonds in registered form shall be given to them at the addresses in the bond register. In such cases, if the Corporation is notified of a different address, such notice shall be given to the address so notified.
[This Article Wholly Amended on Oct. 13, 2010]
Article 20(Methods of asset revaluation) #
(1) When the Corporation revaluates assets pursuant to Article 17 of the Act, it shall calculate the market price of the assets revaluated (hereinafter referred to as "revaluated value") in accordance with the following asset-specific valuation methods. <Amended on Aug. 31, 2016>
1. Tangible Fixed Assets (excluding land): The value calculated in accordance with the following formula based on the acquisition cost, construction price index, reprocurement cost, and accumulative depreciation amount of the subject assets as of the revaluation date; in this case, the acquisition cost shall be the value calculated by adding the purchase price or production cost of the asset and the acquisition incidental expenses (or the revaluated value if the asset has been revalued in accordance with the Asset Revaluation Act); the construction price index shall be the price index of fixed assets or construction materials by item as of the revaluation date calculated by the Corporation based on the original acquisition date of the asset (or on the latest revaluation date if the asset has been revalued in accordance with the Asset Revaluation Act); and the re-procurement cost shall be the cost of reacquiring the asset.
{(Acquisition cost × construction price index) or reprocurement cost} × (1 - accumulated depreciation amount/acquisition cost)
2. Intangible fixed assets, standing timber, tangible fixed assets recorded as a memorandum price, and assets under subparagraph 1 that are deemed to be difficult to calculate revaluation value according to the applicable valuation method: the value calculated by applying mutatis mutandis the appraisal rules under Article 3 (3) of the Act on Appraisal and Certified Appraisers.
(2) If the revaluation value of the assets under paragraph (1) is less than the book value, the book value shall be deemed the revaluation value.
(3) Where the Corporation conducts revaluation pursuant to paragraph (1), it shall determine the standards for calculating the construction price index and other necessary standards and obtain approval from the Minister of Trade, Industry and Energy. The same shall also apply changes to such standards; provided, the same shall not apply to minor changes. <Amended on Mar. 23, 2013>
(4) "Assets prescribed by Presidential Decree" in the proviso of Article 17 of the Act means the following assets:
1. Land;
2. The building in which power distribution facilities and business facilities are installed; in such cases, the scope of power distribution facilities and business facilities shall be governed by the accounting regulations of the Corporation.
Article 21 #
Deleted. <May 24, 1989>