Four KEPCO Employees Caught Secretly Operating Solar Power Plant

Audit Office Caught Red-Handed... 900 Million KRW Profit from Selling Electricity to KEPCO

[Image source=Yonhap News]

[Asia Economy Reporter Moon Chaeseok] Korea Electric Power Corporation (KEPCO) employees were caught by the Board of Audit and Inspection (BAI) for secretly establishing and operating solar power plants under their family members' names without the company's knowledge.

On the 3rd, the BAI announced the "KEPCO Institutional Operation Audit Report," which investigated KEPCO's operational status from November last year to February this year.

According to the report, four KEPCO employees, including employee A, established corporations in which they were the largest shareholders and operated solar power plants without company approval.

They each nominally appointed their son, older sister, spouse, or father as the president. In some cases, one person operated up to four power plants.

This was done out of concern that they might be caught if they established companies under their own names.

The four individuals sold the electricity they produced to KEPCO, earning a total profit of over 900 million KRW.

The BAI notified KEPCO to strictly manage and supervise so that employees cannot conduct personal businesses without permission and to investigate employee A and others to take necessary measures.

Additionally, the BAI pointed out that when KEPCO carries out distribution line construction at the customer's request, it should raise the standard facility charge rate imposed on the customer, but instead, it lowered the rate, increasing financial burdens.

The BAI instructed KEPCO to establish criteria for recalculating the rates.

According to a corrected disclosure submitted by KEPCO to the Financial Supervisory Service's electronic disclosure system on March 12, KEPCO recorded a deficit of 1.2765 trillion KRW last year.

This content was produced with the assistance of AI translation services.