Seoul: Korea Electric Power Corp. (KEPCO) on Tuesday reported a significant increase in its first-quarter net profit, reaching 2.36 trillion won (US$1.7 billion). This marks an increase of 296.3 percent from the same period a year earlier. The substantial rise in net profit was accompanied by an increase in operating income, which reached 3.75 trillion won, up 188.9 percent from the previous year. Additionally, KEPCO's sales for the January-March period rose 4 percent, amounting to 24.22 trillion won.

According to Yonhap News Agency, despite the impressive growth figures, KEPCO's earnings fell short of market expectations. Analysts had projected an average net profit of 2.41 trillion won, as per a survey conducted by Yonhap Infomax, the financial data firm associated with Yonhap News Agency.

This financial performance highlights KEPCO's significant growth in the first quarter, although it did not fully meet the forecasts set by market analysts.