State-run Korea Electric Power Corp. (KEPCO) reports its third-quarter net income falls sharply, with the company attributing the decline to higher fuel costs and posting weaker operating profits than a year earlier. KEPCO says it earns 835.9 billion won (about $627.1 million), down 77.9% year-on-year, while quarterly revenue declines slightly to 26.85 trillion won.
Korea Times and Yonhap both frame the result as a major drop in profitability. Korea Times highlights that KEPCO’s operating profit also falls substantially (to 1.64 trillion won from 5.65 trillion won a year earlier) and notes the earnings miss market expectations, citing analysts’ average net profit estimate from a Yonhap Infomax survey. Yonhap emphasizes the impact of higher fuel costs in explaining the decline, aligning with the broader picture of reduced earnings and weaker operating performance.
