Seoul: The state-run Korea Electric Power Corp. (KEPCO) has announced a significant rise in its fourth-quarter net income, reaching 1.41 trillion won (US$988.4 million). This marks a 36.6 percent increase from the same period last year.

According to Yonhap News Agency, despite the impressive growth in net income, KEPCO's earnings fell short of market expectations. The regulatory filing by the company revealed an operating profit of 1.98 trillion won for the quarter, a decrease from 2.41 trillion won a year ago. Additionally, the company's sales experienced a modest rise of 0.7 percent, totaling 23.68 trillion won.

Market analysts had anticipated a higher net profit for KEPCO, with an average estimate of 1.71 trillion won based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.