Korea Electric Power Corporation (KRX:015760) saw its debt increase to a record 205.2 trillion won in 2024, up 2.73 trillion won from the previous year, despite posting its first operating profit in four years, Yonhap News reported Sunday.
The operating profit, exceeding 8 trillion won, was driven by electricity rate hikes, but rising interest payments--nearly 5 trillion won last year--added to the debt, the report said.
The state-run electricity provider's debt issues stem from supplying electricity below cost amid soaring energy prices in the 2021-2023 period due to the Russia-Ukraine war, it said.
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