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KEPCO (NYSE: KEP) in $1.1B UAE nuclear support contract arbitration

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Korea Electric Power Corporation (KEPCO) has reported a new legal proceeding related to its UAE nuclear power plant project. On May 21, 2026, Korea Hydro & Nuclear Power Co., Ltd. (KHNP) began arbitration at the Korean Commercial Arbitration Board, seeking payment of around USD 1.1 billion under an operational support services contract. KEPCO states that it plans to defend its position through arbitration counsel during the KCAB process.

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Insights

KEPCO discloses a large contract payment dispute in arbitration, with outcome and impact unresolved.

The disclosure shows KHNP has initiated arbitration at the Korean Commercial Arbitration Board seeking around USD 1.1 billion related to an operational support services contract for the UAE nuclear power plant project. The filing focuses on the existence and size of the claim.

KEPCO indicates it will defend the case through arbitration counsel, but no details are given on contract terms, defenses, or potential financial impact. Future company filings may provide updates on the arbitration’s progress or any resolution, which will frame how significant this dispute is for overall results.

Arbitration claim amount around USD 1.1 billion Payment sought under UAE nuclear operational support services contract
Arbitration filing date May 21, 2026 KHNP initiated arbitration at Korean Commercial Arbitration Board
Confirmation date May 21, 2026 Legal proceeding confirmation in KEPCO Form 6-K
Report period May 2026 Month covered by KEPCO Form 6-K report of foreign private issuer
Arbitration regulatory
"initiated arbitration at the Korean Commercial Arbitration Board"
A private process for resolving legal disputes where one or more neutral decision‑makers (arbitrators) act like a referee or private judge and issue a final ruling outside the public court system. It matters to investors because arbitration clauses in contracts can change how quickly and quietly disputes are resolved, affect legal costs and the likelihood of appeal, and influence the financial and reputational risks a company may face.
Korean Commercial Arbitration Board regulatory
"initiated arbitration at the Korean Commercial Arbitration Board (“KCAB”)"
operational support services contract financial
"regarding the operational support services contract for the UAE nuclear power plant project"
foreign private issuer regulatory
"FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER Pursuant to Rule 13a-16"
A foreign private issuer is a company organized outside the United States that meets tests showing it is primarily foreign-controlled and therefore qualifies for a different set of U.S. reporting rules. For investors, that means the company files less frequent or differently formatted disclosures with U.S. regulators and may follow home-country accounting and governance practices, so buying its stock is like dining at a well-reviewed restaurant that follows its home kitchen’s rules instead of the local menu — you get access but should check what standards apply.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

How much money is being claimed in the KEPCO UAE nuclear arbitration?
The arbitration involves a claim for around USD 1.1 billion. KHNP is seeking this amount under an operational support services contract for the UAE nuclear power plant project, as disclosed in KEPCO’s Form 6-K report on legal proceedings for May 2026.

Which body has jurisdiction over KEPCO’s disclosed UAE contract arbitration?
The Korean Commercial Arbitration Board (KCAB) has jurisdiction over the arbitration. KHNP filed its claim there on May 21, 2026, seeking around USD 1.1 billion under the operational support services contract linked to KEPCO’s UAE nuclear power plant project operations.

How does KEPCO plan to respond to the UAE nuclear arbitration claim?
KEPCO plans to defend its case through arbitration counsel in the Korean Commercial Arbitration Board process. The company’s Form 6-K states this planned action but does not provide further details on legal arguments, timelines, or potential financial effects from the around USD 1.1 billion claim.

When was the arbitration against KEPCO’s affiliate in the UAE project filed and confirmed?
The arbitration was filed on May 21, 2026, and confirmed the same day. KHNP brought the claim at the Korean Commercial Arbitration Board, seeking around USD 1.1 billion related to the operational support services contract for the UAE nuclear power plant project.
 
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

Pursuant to Rule 13a-16 or 15d-16

under the Securities Exchange Act of 1934

For the Month of May 2026

Commission File Number 001-13372

 

 

KOREA ELECTRIC POWER CORPORATION

(Translation of registrant’s name into English)

 

 

55 Jeollyeok-ro, Naju-si, Jeollanam-do, 58322, Korea

(Address of principal executive offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒   Form 40-F ☐

 

 
 

Report on Legal Proceedings

1. Title of the Lawsuit: Arbitration regarding the operational support services contract for the UAE nuclear power plant project

 

  •  

Case No.: KCAB/IA No.26112-0010

2. Claimant: Korea Hydro & Nuclear Power Co., Ltd.(“KHNP”)

3. Summary of the Lawsuit:

On May 21, 2026, the claimant, KHNP, initiated arbitration at the Korean Commercial Arbitration Board (“KCAB”) seeking the payment of around USD 1.1 billion regarding the operational support services contract for the UAE nuclear power plant project

4. Amount Claimed:

 

  •  

Amount Claimed: around KRW 1,661 billion (around USD 1.1 billion)

 

  •  

Total Equity of Korea Electric Power Corporation(“KEPCO”): KRW 49,323 billion

 

  •  

Ratio of Amount Claimed to Total Equity of KEPCO: 3.37%

5. Court of Jurisdiction: Korean Commercial Arbitration Board(“KCAB”)

6. Planned Action: KEPCO plans to defend its case through its arbitration counsel during KCAB’s arbitration process

7. Filing Date: May 21, 2026

8. Confirmation Date: May 21, 2026

9. Other Information for an Investment Decision:

 

  •  

The claim amount in No.4 above is based on the first basic exchange rate announced by Hana bank as of May 21, 2026, the arbitration filing date(1 USD to 1,509.7 KRW). Such claim amount is being disputed by KEPCO.

 

  •  

The total equity of KEPCO above is based on the consolidated statements of the fiscal year 2025.

 

  •  

The arbitration proceeding described above relates to the same matter previously disclosed in the related disclosure below. It reflects a subsequent agreement between the parties to change the dispute resolution forum, following which KHNP filed for arbitration with the KCAB.

 

  •  

The existing arbitration proceeding before the London Court of International Arbitration (“LCIA”) is expected to be withdrawn.

 

  •  

Related Disclosure: Reports on Legal Proceedings dated May 7, 2025 and May 8, 2025.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

By:   /s/ Joo, Hwa-sik
Name: Joo, Hwa-sik
Title: Vice President

Date: May 22, 2026

Source: View Original Filing on SEC EDGAR