Korea Electric Power Corporation was incorporated on January 1, 1982. The Company is engaged in the generation, transmission and distribution of electricity and development of electric power resources in the Republic of Korea. The Company also provides power plant construction services. Through its six consolidated generation subsidiaries, the Company currently transmits and distributes substantially all of the electricity in Korea. As of December 31, 2014, The Company and its generation subsidiaries owned approximately 77.6% of the total electricity generation capacity in Korea (excluding plants generating electricity for private or emergency use). In 2014, it sold to its customers approximately 477,592 gigawatt-hours of electricity.Of the 490,018 gigawatt-hours of electricity it purchased in 2014, 31.6% was generated by KHNP, its wholly-owned nuclear and hydroelectric power generation subsidiary, 60.6% was generated by its wholly-owned five thermal generation subsidiaries and 10.6% was generated by independent power producers. Its operations are subject to various laws and regulations relating to environmental protection and safety.