Korea Electric Power Corp

Korea Electric Power Corporation (KEPCO) is South Korea's state-owned electric utility, operating a generation fleet that is overwhelmingly dependent on fossil fuels. As of 2023, coal and natural gas accounted for approximately 65% of its total power generation capacity. The company has publicly stated plans to continue operating coal-fired power plants until 2050, with no announced plan for a full phase-out.

KEPCO's operations have resulted in significant climate-related impacts. An analysis cited in a 2026 lawsuit by South Korean farmers estimates the utility was responsible for about a quarter of the country's emissions between 2011 and 2022, linking approximately $72.9 billion in climate-related economic damages to its operations. The company's wholesale market compensation structure has also been criticized for disproportionately favoring and overcompensating its fossil fuel power plants, creating a financial incentive to prolong their operation. In 2025, a whistleblower flagged KEPCO to the Singapore Exchange for failing to adequately disclose these material climate-related risks to bond investors.

Korea Electric Power Corporation (KEPCO) is a state-owned utility that operates one of the world's most coal-intensive power generation fleets. As of 2023, coal-fired power plants accounted for approximately 40% of its total capacity, and the company has been a significant financier and operator of new coal plants internationally, including projects in Indonesia and Vietnam. This expansion of fossil fuel infrastructure directly contributes to long-term environmental damage and climate impacts.

In 2020, a group of Indonesian farmers filed a lawsuit against KEPCO, among other defendants, seeking compensation for climate-related damages to their livelihoods. The plaintiffs argued that the greenhouse gas emissions from the companies' operations, including KEPCO's stake in the Cirebon coal plant in Java, contributed to sea level rise and saltwater intrusion that damaged their rice fields. While the legal claim focuses on climate liability, it underscores the documented ecological and community harm linked to the company's coal plant investments.

Beyond its international projects, KEPCO's domestic operations in South Korea have a history of environmental incidents. This includes a 2022 transformer oil leak at the Dangjin Power Complex that contaminated local soil and groundwater, resulting in regulatory penalties and cleanup orders. The company's continued reliance on and investment in coal power generation, despite available alternatives, positions it as a direct contributor to ongoing environmental degradation.