"KEPCO's 30 Trillion Deficit, 511.2 Billion Invested in Subsidiaries... Recovery Rate Only 4.3%"

Analysis of KEPCO Data by Park Su-young, People Power Party Lawmaker
Half of 13 Invested Companies Are in Capital Erosion
Most Are Engaged in Renewable Energy Business

[Image source=Yonhap News]

[Asia Economy Reporter Lee Hyun-joo] Korea Electric Power Corporation (KEPCO), struggling with a deficit reaching 30 trillion won, has also seen the financial status of its invested companies accumulate losses, resulting in capital erosion.

According to data submitted by KEPCO on the 19th to Park Soo-young, a member of the People Power Party, among the 13 domestic invested companies aimed at generating profits?excluding those designated as public institutions or those established for the regularization of non-regular workers?7 companies were in a state of capital erosion.

KEPCO invested 511.2 billion won in these invested companies but recovered only 22 billion won by the end of last year, resulting in a capital recovery rate of 4.3%. Among them, 10 companies had a capital recovery rate of 0%, failing to recover any invested capital.

According to Representative Park, most of the companies in a state of capital erosion are engaged in renewable energy projects such as solar power and offshore wind power, and most were jointly invested in with other power generation public enterprises.

Representative Park stated, "KEPCO, operated with investments and taxes from the government and shareholders, has degenerated into a hollow public enterprise due to reckless management," adding, "We cannot help but criticize the Moon Jae-in administration for ruining a once successful public enterprise to this extent."

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