KEPCO announced today (12th) that it will make efforts to improve its finances worth KRW 2026.25 trillion by 7 by selling real estate assets such as the Yeouido Nam-Seoul headquarters building and promoting a wage freeze for all employees.

KEPCO held a 'Emergency Management and Management Innovation Practice Pledge Contest' today at its headquarters in Naju, South Jeolla Province, attended by President Jeong Seung-il and other executives and employees, and announced its self-proposal containing these contents.

It is 2.20 trillion won larger than the 1.5 trillion won in the fiscal health plan announced in February.

With the cumulative deficit of KEPCO exceeding 6 trillion won from 2021 to 2022, the government and the ruling party demanded that KEPCO first present a high-intensity self-proposal, even though a further increase in electricity bills below the cost price is inevitable.

KEPCO has included in its proposal the sale of Seoul's Yeouido South Seoul headquarters, which is estimated to be worth close to a trillion units as a key "real estate" in Seoul.

There is a substation facility in the basement of this building, which has been excluded from sale, but under pressure from the government and the ruling party to come up with an effective additional self-rescue plan, KEPCO is pursuing a plan to sell the upper floor minus the substation facility.

In addition, we decided to secure additional financial resources by leasing 38 office buildings nationwide, including the three floors of the Hanjeon Art Center in Seocho-gu.

Sharing the pain through freezing employee wages has also been included in the new plan.

3,10 employees at level 10 (general manager) and above at 2 subsidiaries, including KEPCO and Korea Hydro & Nuclear Power, will return the full wage increase this year, and 4,436 employees at level 3 (deputy manager) will return half of the increase.

In addition, the proposal includes "initiating negotiations with the union on wage freezes and increases," and plans to freeze the wages of all 4,30 employees or return the increases will be further promoted.

In addition, the new initiative includes adjusting the 6 regional offices under 2 regional headquarters nationwide to the center of the main focus city, and operating integrated work centers at the regional level, to reduce costs as much as possible by reducing the organization.