Seoul: The state-run Korea Electric Power Corp. (KEPCO) on Thursday reported its net income soared more than 141 percent from a year earlier to 8.73 trillion won (US$6.1 billion) in 2025, amid continued efforts to improve its financial stability.

According to Yonhap News Agency, KEPCO's annual revenue increased 4.3 percent on-year to 97.43 trillion won, and operating profit jumped 61.7 percent to a record high of 13.52 trillion won, as stated in a regulatory filing. The company attributed the strong performance to an electricity bill hike in 2024 and the stabilization of global energy prices.

In 2024, KEPCO raised the electricity rate for industrial use by 9.7 percent while maintaining the rate for residential use. This price hike led to a 0.1 percent decrease in electricity sales in 2025, but the profit from electricity sales grew by 4.1 trillion won.

KEPCO acknowledged its ongoing financial challenges, with 206 trillion won in debt and 130 trillion won in borrowings. The company emphasized the need for continued efforts to enhance its fiscal health, amid increasing demands to reduce industrial electricity rates.

The financial difficulties for KEPCO began when it provided electricity at prices below production costs during a period of rising global energy prices from 2021 to 2023, influenced by the Russia-Ukraine war. KEPCO plans to invest significantly in power grid infrastructure to meet the rising power demand driven by the growth of artificial intelligence and other advanced industries.