SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K/A
(Amendment No.1)
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the Month of April, 2011
KOREA ELECTRIC POWER CORPORATION
(Translation of registrant’s name into English)
167, Samseongdong, Gangnam-gu, Seoul 135-791, Korea
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will
file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(1):
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(7):
Indicate by check mark whether the registrant by furnishing the
information contained in this form is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes ¨ No x
If “Yes” is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82- .
This Report of Foreign Private Issuer on Form 6-K is deemed filed for all purposes under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended.
This amended report on Form 6-K replaces the report on Form 6-K filed with the Commission on April 4, 2011 in its entirety.
Korea Electric Power Corporation (“KEPCO”) hereby announces its audited consolidated statements of financial position, statements of operations, statement of changes in shareholders’ equity and statements of cash flows information for fiscal years 2009 and 2010 as attached hereto.
KOREA ELECTRIC POWER CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
AS OF DECEMBER 31, 2009 AND 2010
| Won | U.S. dollars | |||||||||||
| 2009 | 2010 | 2010 | ||||||||||
| (In millions) | (In thousands) | |||||||||||
| Assets | ||||||||||||
| Property, plant and equipment : |
(Won) | 115,483,190 | (Won) | 122,262,324 | $ | 108,139,328 | ||||||
| Less: accumulated depreciation |
(50,183,508 | ) | (56,099,984 | ) | (49,619,657 | ) | ||||||
| Less: accumulated impairment losses |
(22,935 | ) | (13,265 | ) | (11,733 | ) | ||||||
| Less: construction grants |
(6,152,485 | ) | (6,993,712 | ) | (6,185,841 | ) | ||||||
| 59,124,262 | 59,155,363 | 52,322,097 | ||||||||||
| Construction in-progress |
14,909,169 | 19,744,150 | 17,463,427 | |||||||||
| Net property, plant and equipment |
74,033,431 | 78,899,513 | 69,785,524 | |||||||||
| Investments and other assets: |
||||||||||||
| Long-term investment securities |
3,542,283 | 4,764,710 | 4,214,320 | |||||||||
| Long-term loans |
584,327 | 812,232 | 718,408 | |||||||||
| Financial derivatives |
756,034 | 375,757 | 332,352 | |||||||||
| Intangible assets |
682,345 | 455,822 | 403,168 | |||||||||
| Deferred income tax assets |
1,689,851 | 1,145,548 | 1,013,221 | |||||||||
| Other non-current assets |
890,860 | 768,316 | 679,565 | |||||||||
| Total non-current assets |
82,179,131 | 87,221,898 | 77,146,558 | |||||||||
| Current assets: |
||||||||||||
| Cash and cash equivalents |
1,489,390 | 2,097,285 | 1,855,019 | |||||||||
| Trade receivables, less allowance for doubtful accounts of (Won) 61,094 million in 2009 and (Won) 30,961 million in 2010 |
3,189,923 | 3,695,384 | 3,268,516 | |||||||||
| Other accounts receivable, less allowance for doubtful accounts of (Won) 28,380 million in 2009 and (Won) 25,420 million in 2010 |
1,341,520 | 1,331,462 | 1,177,660 | |||||||||
| Short-term investment securities |
10,420 | 509 | 450 | |||||||||
| Short-term financial instruments |
356,115 | 571,310 | 505,316 | |||||||||
| Financial derivatives |
144,449 | 100,148 | 88,580 | |||||||||
| Inventories |
3,894,878 | 3,479,690 | 3,077,737 | |||||||||
| Deferred income tax assets |
353,103 | 786,630 | 695,763 | |||||||||
| Other current assets |
249,102 | 326,082 | 288,415 | |||||||||
| Total current assets |
11,028,900 | 12,388,500 | 10,957,456 | |||||||||
| Total assets |
(Won) | 93,208,031 | (Won) | 99,610,398 | $ | 88,104,014 | ||||||
(Continued)
KOREA ELECTRIC POWER CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (CONTINUED)
AS OF DECEMBER 31, 2009 AND 2010
| Won | U.S. dollars | |||||||||||
| 2009 | 2010 | 2010 | ||||||||||
| (In millions) | (In thousands) | |||||||||||
| Liabilities and Shareholders’ Equity |
||||||||||||
| Shareholders’ equity: |
||||||||||||
| Common stock of (Won) 5,000 par value authorized 1,200,000,000 shares - Issued and outstanding 641,567,712 shares in 2009 and 2010 |
(Won) | 3,207,839 | (Won) | 3,207,839 | $ | 2,837,289 | ||||||
| Capital surplus |
14,668,563 | 14,764,631 | 13,059,111 | |||||||||
| Capital adjustments |
(741,587 | ) | (741,587 | ) | (655,923 | ) | ||||||
| Accumulated other comprehensive income |
487,211 | 453,928 | 401,493 | |||||||||
| Retained earnings: |
||||||||||||
| Appropriated |
23,509,731 | 23,432,019 | 20,725,295 | |||||||||
| Before appropriations |
(104,523 | ) | (98,967 | ) | (87,535 | ) | ||||||
| Noncontrolling interest in consolidated subsidiaries |
376,573 | 470,738 | 416,361 | |||||||||
| Total shareholders’ equity |
41,403,807 | 41,488,601 | 36,696,091 | |||||||||
| Long-term liabilities: |
||||||||||||
| Long-term debt, net |
27,840,626 | 33,089,247 | 29,266,978 | |||||||||
| Borrowings under conditional agreements |
15,317 | 18,295 | 16,182 | |||||||||
| Long-term other account payable |
3,576,369 | 3,894,914 | 3,444,998 | |||||||||
| Accrual for retirement and severance benefits, net |
1,772,680 | 1,688,189 | 1,493,180 | |||||||||
| Liability for decommissioning costs |
5,695,224 | 5,976,326 | 5,285,977 | |||||||||
| Provision for decontamination of transformer |
231,470 | 278,011 | 245,897 | |||||||||
| Reserve for self insurance |
121,416 | 123,098 | 108,878 | |||||||||
| Financial derivatives |
34,983 | 209,448 | 185,254 | |||||||||
| Deferred income tax liabilities |
972,077 | 990,116 | 875,744 | |||||||||
| Other long-term liabilities |
796,359 | 266,769 | 235,953 | |||||||||
| Total long-term liabilities |
41,056,521 | 46,534,411 | 41,159,041 | |||||||||
| Current liabilities: |
||||||||||||
| Trade payables |
1,928,442 | 2,425,394 | 2,145,227 | |||||||||
| Other accounts payable |
835,067 | 621,879 | 550,043 | |||||||||
| Short-term borrowings |
684,480 | 457,426 | 404,587 | |||||||||
| Current portion of long-term debt, net |
5,778,813 | 6,311,867 | 5,582,759 | |||||||||
| Income tax payable |
82,844 | 256,198 | 226,604 | |||||||||
| Accrued expense |
531,167 | 605,595 | 535,640 | |||||||||
| Financial derivatives |
3,023 | 10,763 | 9,520 | |||||||||
| Deferred income tax liabilities |
18,023 | 9,065 | 8,018 | |||||||||
| Other current liabilities |
885,844 | 889,199 | 786,484 | |||||||||
| Total current liabilities |
10,747,703 | 11,587,386 | 10,248,882 | |||||||||
| Total liabilities |
51,804,224 | 58,121,797 | 51,407,923 | |||||||||
| Commitments and contingencies |
||||||||||||
| Total shareholders’ equity and liabilities |
(Won) | 93,208,031 | (Won) | 99,610,398 | $ | 88,104,014 | ||||||
KOREA ELECTRIC POWER CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31, 2008, 2009 AND 2010
| Won | U.S. dollars | |||||||||||||||
| 2008 | 2009 | 2010 | 2010 | |||||||||||||
| (In millions, except per share amounts) | (In thousands, except per share amounts) |
|||||||||||||||
| OPERATING REVENUES: |
||||||||||||||||
| Sale of electricity |
(Won) | 30,708,544 | (Won) | 33,091,577 | (Won) | 37,518,463 | $ | 33,184,560 | ||||||||
| Other operating revenues |
851,556 | 902,275 | 1,907,497 | 1,687,155 | ||||||||||||
| 31,560,100 | 33,993,852 | 39,425,960 | 34,871,715 | |||||||||||||
| OPERATING EXPENSES: |
||||||||||||||||
| Power generation, transmission and distribution costs |
27,101,532 | 25,829,287 | 29,185,920 | 25,814,541 | ||||||||||||
| Purchased power |
4,433,889 | 3,666,468 | 5,382,428 | 4,760,683 | ||||||||||||
| Other operating costs |
1,083,050 | 1,238,619 | 1,618,402 | 1,431,454 | ||||||||||||
| Selling and administrative expenses |
1,739,702 | 1,544,656 | 1,659,057 | 1,467,413 | ||||||||||||
| 34,358,173 | 32,279,030 | 37,845,807 | 33,474,091 | |||||||||||||
| OPERATING INCOME (LOSS) |
(2,798,073 | ) | 1,714,822 | 1,580,153 | 1,397,624 | |||||||||||
| OTHER INCOME (EXPENSES): |
||||||||||||||||
| Interest income |
170,951 | 113,865 | 119,477 | 105,676 | ||||||||||||
| Interest expenses |
(1,000,773 | ) | (1,583,863 | ) | (1,624,824 | ) | (1,437,134 | ) | ||||||||
| Gain (loss) on foreign currency transactions and translation, net |
(1,845,392 | ) | 662,812 | 119,919 | 106,066 | |||||||||||
| Donations |
(40,112 | ) | (21,109 | ) | (30,884 | ) | (27,316 | ) | ||||||||
| Equity income of affiliates, net |
98,611 | 22,473 | 75,477 | 66,758 | ||||||||||||
| Gain on disposal of investments, net |
4,241 | 310 | 4,482 | 3,964 | ||||||||||||
| Impairment loss on investment securities |
— | (60,636 | ) | — | — | |||||||||||
| Gain (loss) on disposal of property, plant and equipment, net |
14,305 | 38,896 | 21,921 | 19,389 | ||||||||||||
| Valuation gain (loss) on financial derivatives, net |
1,341,887 | (357,004 | ) | (206,084 | ) | (182,278 | ) | |||||||||
| Loss on early repayment of exchangeable bond |
— | (540,593 | ) | — | — | |||||||||||
| Other, net |
210,752 | 332,440 | 377,529 | 333,919 | ||||||||||||
| (1,045,530 | ) | (1,392,409 | ) | (1,142,987 | ) | (1,010,956 | ) | |||||||||
| INCOME (LOSS) BEFORE INCOME TAX |
(3,843,603 | ) | 322,413 | 437,166 | 386,668 | |||||||||||
| INCOME TAX EXPENSES (BENEFITS) |
(929,564 | ) | 370,145 | 457,021 | 404,229 | |||||||||||
| NET INCOME (LOSS) |
(2,914,039 | ) | (47,732 | ) | (19,855 | ) | (17,561 | ) | ||||||||
| Controlling interest |
(Won) | (2,955,339 | ) | (Won) | (96,716 | ) | (Won) | (72,156 | ) | $ | (63,821 | ) | ||||
| Noncontrolling interest |
41,300 | 48,984 | 52,301 | 46,260 | ||||||||||||
| (Won) | (2,914,039 | ) | (Won) | (47,732 | ) | (Won) | (19,855 | ) | $ | (17,561 | ) | |||||
| BASIC EARNINGS (LOSS) PER SHARE |
(Won) | (4,746 | ) | (Won) | (155 | ) | (Won) | (116 | ) | $ | (0.103 | ) | ||||
| DILUTED EARNINGS (LOSS) PER SHARE |
(Won) | (4,746 | ) | (Won) | (155 | ) | (Won) | (116 | ) | $ | (0.103 | ) | ||||
KOREA ELECTRIC POWER CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY
FOR THE YEARS ENDED DECEMBER 31, 2008, 2009 AND 2010
| Common stock |
Capital surplus |
Capital adjustments |
Accumulated other comprehensive income |
Retained earnings |
Minority interests |
Total | ||||||||||||||||||||||
| Balances at January 1, 2008 |
(Won) | 3,207,839 | (Won) | 14,558,256 | (Won) | (741,825 | ) | (Won) | 83,915 | (Won) | 26,924,227 | (Won) | 234,441 | (Won) | 44,266,853 | |||||||||||||
| Net income (loss) |
— | — | — | — | (2,955,339 | ) | 41,300 | (2,914,039 | ) | |||||||||||||||||||
| Dividends declared |
— | — | — | — | (466,964 | ) | — | (466,964 | ) | |||||||||||||||||||
| Exercise of conversion right |
— | (61 | ) | — | — | — | — | (61 | ) | |||||||||||||||||||
| Gain on disposal of subsidiary’s securities |
— | 148 | — | — | — | — | 148 | |||||||||||||||||||||
| Gain on disposal of treasury stock, net of tax |
— | 188 | — | — | — | — | 188 | |||||||||||||||||||||
| Changes in treasury stock |
— | — | 336 | — | — | — | 336 | |||||||||||||||||||||
| Changes in unrealized losses on available-for-sale securities |
— | — | — | (8,274 | ) | — | — | (8,274 | ) | |||||||||||||||||||
| Equity in other comprehensive income of affiliates |
— | — | — | 205,359 | — | — | 205,359 | |||||||||||||||||||||
| Changes in translation adjustments of foreign subsidiaries |
— | — | — | 45,266 | — | — | 45,266 | |||||||||||||||||||||
| Changes in valuation of derivatives |
— | — | — | 108,798 | — | — | 108,798 | |||||||||||||||||||||
| Changes in minority interests |
— | — | — | — | — | 37,204 | 37,204 | |||||||||||||||||||||
| Balance at December 31, 2008 |
3,207,839 | 14,558,531 | (741,489 | ) | 435,064 | 23,501,924 | 312,945 | 41,274,814 | ||||||||||||||||||||
| Net income (loss) |
— | — | — | — | (96,716 | ) | 48,984 | (47,732 | ) | |||||||||||||||||||
| Changes in discount on stock issuance |
— | — | (98 | ) | — | — | — | (98 | ) | |||||||||||||||||||
| Changes in other capital surplus |
— | 110,032 | — | — | — | — | 110,032 | |||||||||||||||||||||
| Changes in unrealized losses on available-for-sale securities |
— | — | — | 18,086 | — | — | 18,086 | |||||||||||||||||||||
| Equity in other comprehensive income of affiliates |
— | — | — | 107,968 | — | — | 107,968 | |||||||||||||||||||||
| Changes in translation adjustments of foreign subsidiaries |
— | — | — | (31,303 | ) | — | — | (31,303 | ) | |||||||||||||||||||
| Changes in valuation of derivatives |
— | — | — | (42,604 | ) | — | — | (42,604 | ) | |||||||||||||||||||
| Changes in minority interests |
— | — | — | — | — | 14,644 | 14,644 | |||||||||||||||||||||
| Balances at December 31, 2009 |
3,207,839 | 14,668,563 | (741,587 | ) | 487,211 | 23,405,208 | 376,573 | 41,403,807 | ||||||||||||||||||||
KOREA ELECTRIC POWER CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY (CONTINUED)
FOR THE YEARS ENDED DECEMBER 31, 2008, 2009 AND 2010
| Common stock |
Capital surplus |
Capital adjustments |
Accumulated other comprehensive income |
Retained earnings |
Minority interests |
Total | ||||||||||||||||||||||
| Net income (loss) |
— | — | — | — | (72,156 | ) | 52,301 | (19,855 | ) | |||||||||||||||||||
| Gain on disposal of subsidiary’s securities |
— | 96,101 | — | — | — | — | 96,101 | |||||||||||||||||||||
| Changes in other capital surplus |
— | (33 | ) | — | — | — | — | (33 | ) | |||||||||||||||||||
| Changes in unrealized losses on available-for-sale securities |
— | — | — | 1,407 | — | — | 1,407 | |||||||||||||||||||||
| Equity in other comprehensive income of affiliates |
— | — | — | (13,400 | ) | — | — | (13,400 | ) | |||||||||||||||||||
| Changes in translation adjustments of foreign subsidiaries |
— | — | — | 17,168 | — | — | 17,168 | |||||||||||||||||||||
| Changes in valuation of derivatives |
— | — | — | (38,458 | ) | — | — | (38,458 | ) | |||||||||||||||||||
| Changes in minority interests |
— | — | — | — | — | 41,864 | 41,864 | |||||||||||||||||||||
| Balances at December 31, 2010 |
(Won) | 3,207,839 | (Won) | 14,764,631 | (Won) | (741,587 | ) | (Won) | 453,928 | (Won) | 23,333,052 | (Won) | 470,738 | (Won) | 41,488,601 | |||||||||||||
| U.S. dollars (In thousands) |
$ | 2,837,289 | $ | 13,059,111 | $ | (655,923 | ) | $ | 401,493 | $ | 20,637,760 | $ | 416,361 | $ | 36,696,091 | |||||||||||||
KOREA ELECTRIC POWER CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2008, 2009 AND 2010
| Won | U.S. dollars (Note2) |
|||||||||||||||
| 2008 | 2009 | 2010 | 2010 | |||||||||||||
| (In millions) | (In thousands) | |||||||||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: |
||||||||||||||||
| Net income (loss) |
(Won) | (2,914,039 | ) | (Won) | (47,732 | ) | (Won) | (19,855 | ) | $ | (17,561 | ) | ||||
| Adjustments to reconcile net income to net cash provided by operating activities: |
||||||||||||||||
| Depreciation and amortization |
6,233,033 | 6,318,534 | 6,415,199 | 5,674,154 | ||||||||||||
| Property, plant and equipment removal loss |
302,288 | 276,724 | 266,889 | 236,060 | ||||||||||||
| Provision for severance and retirement benefits |
483,909 | 238,001 | 423,221 | 374,333 | ||||||||||||
| Provision for decommissioning costs, net |
379,281 | 223,387 | 234,528 | 207,437 | ||||||||||||
| Provision for decontamination of Transformer, net |
13,016 | 16,222 | 15,022 | 13,287 | ||||||||||||
| Bad debt expense |
20,616 | 28,397 | 2,217 | 1,961 | ||||||||||||
| Amortization of discount on debentures Issued and long-term loans, net |
38,735 | 197,217 | 182,624 | 161,528 | ||||||||||||
| Loss (gain) on foreign currency translation, net |
1,586,241 | (659,151 | ) | (91,187 | ) | (80,654 | ) | |||||||||
| Equity income of affiliates, net |
(98,611 | ) | (22,473 | ) | (75,477 | ) | (66,758 | ) | ||||||||
| Impairment loss on investment securities |
— | 60,636 | — | — | ||||||||||||
| Gain on disposal of property, plant and equipment, net |
(14,305 | ) | (38,896 | ) | (21,921 | ) | (19,389 | ) | ||||||||
| Gain on disposal of investment assets, net |
— | — | (4,482 | ) | (3,964 | ) | ||||||||||
| Deferred income tax expense, net |
(1,540,780 | ) | 282,931 | 119,858 | 106,013 | |||||||||||
| Valuation loss (gain) on financial derivatives |
(1,341,887 | ) | 357,004 | 206,084 | 182,278 | |||||||||||
| Transaction loss on financial derivatives |
154,114 | (42,856 | ) | (3,456 | ) | (3,057 | ) | |||||||||
| Loss on early repayment of exchangeable bond |
— | 540,593 | — | — | ||||||||||||
| Other losses (gains), net |
(135,364 | ) | 38,859 | 87,195 | 77,122 | |||||||||||
| Changes in assets and liabilities: |
||||||||||||||||
| Trade receivables |
(216,627 | ) | (452,910 | ) | (494,690 | ) | (437,546 | ) | ||||||||
| Other accounts receivable |
(176,891 | ) | 229,266 | 13,271 | 11,738 | |||||||||||
| Inventories |
(1,779,959 | ) | (672,328 | ) | (842,584 | ) | (745,254 | ) | ||||||||
| Investments under the equity method |
33,102 | 28,973 | 35,574 | 31,465 | ||||||||||||
| Other current assets |
55,700 | 6,610 | (76,684 | ) | (67,826 | ) | ||||||||||
| Trade payables |
773,558 | (315,952 | ) | 513,145 | 453,870 | |||||||||||
| Other accounts payable |
69,415 | (33,951 | ) | (302,523 | ) | (267,577 | ) | |||||||||
| Income tax payable |
(14,157 | ) | (387,739 | ) | 173,832 | 153,752 | ||||||||||
| Accrued expense |
41,973 | (9,150 | ) | 85,695 | 75,795 | |||||||||||
| Other current liabilities |
83,130 | 58,274 | (4,437 | ) | (3,924 | ) | ||||||||||
| Payment of severance and retirement benefits, net |
(78,204 | ) | (173,430 | ) | (579,624 | ) | (512,669 | ) | ||||||||
| Payment of decommissioning costs |
(8,791 | ) | (254,287 | ) | (275,238 | ) | (243,444 | ) | ||||||||
| Payment of other provision |
(54,238 | ) | (114,793 | ) | (91,608 | ) | (81,026 | ) | ||||||||
| Other, net |
67,032 | 62,511 | (252,425 | ) | (223,267 | ) | ||||||||||
| Net cash provided by operating activities |
1,961,290 | 5,738,491 | 5,638,163 | 4,986,877 | ||||||||||||
(Continued)
KOREA ELECTRIC POWER CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2008, 2009 AND 2010 (CONTINUED)
| Won | U.S. dollars (Note2) |
|||||||||||||||
| 2008 | 2009 | 2010 | 2010 | |||||||||||||
| (In millions) | (In thousands) | |||||||||||||||
| CASH FLOWS FROM INVESTING ACTIVITIES: |
||||||||||||||||
| Proceeds from disposal of property, plant and equipment |
(Won) | 47,669 | (Won) | 232,274 | (Won) | 100,766 | 89,126 | |||||||||
| Additions to property, plant and equipment |
(8,924,622 | ) | (11,243,965 | ) | (10,813,733 | ) | (9,564,597 | ) | ||||||||
| Receipt of construction grants |
1,141,724 | 1,197,173 | 1,293,347 | 1,143,947 | ||||||||||||
| Proceeds from disposal of investment securities |
71,308 | 119 | 1,210 | 1,070 | ||||||||||||
| Acquisition of investment securities |
(164,014 | ) | (752,164 | ) | (1,155,326 | ) | (1,021,870 | ) | ||||||||
| Increase in long-term loans, net |
(177,278 | ) | (2,628 | ) | (302,684 | ) | (267,720 | ) | ||||||||
| Acquisition of intangible assets |
(360,604 | ) | (249,677 | ) | (59,437 | ) | (52,571 | ) | ||||||||
| Increase (decrease) in other non-current assets |
(157,363 | ) | (330,207 | ) | 214,290 | 189,537 | ||||||||||
| Increase (decrease ) in short-term financial instruments, net |
1,357,132 | 97,787 | (205,340 | ) | (181,620 | ) | ||||||||||
| Decrease in current portion of long-term loans, net |
23,095 | 39,616 | 38,227 | 33,811 | ||||||||||||
| Net cash used in investing activities |
(7,142,953 | ) | (11,011,672 | ) | (10,888,680 | ) | (9,630,887 | ) | ||||||||
| CASH FLOWS FROM FINANCING ACTIVITIES: |
||||||||||||||||
| Proceeds from long-term debt |
9,887,176 | 11,821,305 | 11,511,316 | 10,181,599 | ||||||||||||
| Proceeds from borrowings under conditional agreements |
3,032 | 3,447 | 2,041 | 1,805 | ||||||||||||
| Repayment of long-term debt |
(4,681,712 | ) | (5,964,054 | ) | (5,790,266 | ) | (5,121,410 | ) | ||||||||
| Proceed from short-term borrowings, net |
509,670 | (594,340 | ) | (207,492 | ) | (183,524 | ) | |||||||||
| Proceeds from treasury stock, net |
— | — | — | — | ||||||||||||
| Dividends paid |
(492,286 | ) | (45,920 | ) | (32,498 | ) | (28,744 | ) | ||||||||
| Settlement of financial derivatives |
(211,688 | ) | 37,056 | 316,173 | 279,651 | |||||||||||
| Other, net |
11,023 | 35,772 | 53,062 | 46,933 | ||||||||||||
| Net cash provided by financing activities |
5,025,215 | 5,293,266 | 5,852,336 | 5,176,310 | ||||||||||||
| INCREASE (DECREASE) FROM CHANGES IN CONSOLIDATED SUBSIDIARIES |
(4,689 | ) | 661 | 10,586 | 9,363 | |||||||||||
| CHANGE IN CASH AND CASH EQUIVALENTS FROM THE TRANSLATION OF FOREIGN SUBSIDIARIES |
39,094 | 16,358 | (4,510 | ) | (3,989 | ) | ||||||||||
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |
(122,043 | ) | 37,104 | 607,895 | 537,674 | |||||||||||
| CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR |
1,574,329 | 1,452,286 | 1,489,390 | 1,317,345 | ||||||||||||
| CASH AND CASH EQUIVALENTS, END OF YEAR |
(Won) | 1,452,286 | (Won) | 1,489,390 | (Won) | 2,097,285 | $ | 1,855,019 | ||||||||
Details regarding the information above will be provided in a future filing on Form 20-F for fiscal year 2010 to be filed prior to June 30, 2011.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| By: |
/s/ Kim, Jung-in | |
| Name: |
Kim, Jung-in | |
| Title: |
General Manager |
Date: April 6, 2011