Korea Electric Power Corporation (KEPCO) is an integrated electric utility that generates, transmits, and distributes substantially all electricity in South Korea through a dominant, nearly monopolistic infrastructure system. The company operates approximately 53% of Korea's total generation capacity across nuclear, coal, liquefied natural gas, and renewable facilities, supplemented by electricity from independent power producers, and serves all major customer segments—industrial, commercial, residential, and agricultural—under a government-regulated tariff model that ensures cost recovery plus a reasonable return on capital. KEPCO generates revenue by selling electricity at rates set by the South Korean Ministry of Climate, Energy and Environment, with tiered pricing that includes base charges, usage fees, fuel cost adjustments, and environmental charges, though government caps and discretionary adjustments limit the company's ability to pass through fuel cost increases.