Korea East-West Power

What Korea East-West Power does

Korea East-West Power (EWP, 한국동서발전) is a state-owned electric utility company and wholly-owned subsidiary of Korea Electric Power Corporation (KEPCO), established in 2001 when KEPCO restructured its generation business into five separate subsidiaries. The company operates a diversified generation portfolio spanning thermal (coal, LNG), nuclear, and renewable energy (solar, wind, hydrogen, fuel cells) across domestic plants including the 6,040MW Dangjin facility, the 906.78MW Ilsan plant, the 431MW Donghae plant (housing the world's largest anthracite fluidized bed combustion facility), plus 617.6MW of solar and 332.4MW of wind installations. Domestically, electricity is sold to the KEPCO grid under regulated tariffs, while internationally the company holds equity stakes in projects across at least nine countries, including 40% of Jamaica Public Service, 40% of the Guam Ukudu combined cycle plant (under a 25-year PPA worth approximately $2.12 billion), and 67% of the Australia Columboola Solar Farm, typically structured as BOO/BOT concessions with sovereign off-takers.

The company has built an AI-driven digital energy technology stack anchored by the Korean Integrated Virtual Power Plant, which uses 14 autonomous agents and 125+ AI software links to aggregate distributed energy resources. Adjacent AI products include computer vision-based solar panel inspection, digital twin wind models, predictive power generation forecasting, and the PreVision early warning system, commercialized through the EWP Solution subsidiary. In February 2026, EWP signed an MoU with Samsung SDI to jointly develop global energy storage system and renewable projects, and in April 2026 the company publicly showcased these technologies at World IT Show 2026 in Seoul.

Revenue is generated primarily through long-term power purchase agreements with government-owned utilities domestically and internationally, supplemented by overseas equity income from BOO/BOT concessions, REC/RPS trading on domestic renewable facilities, and emerging revenue from AI-based energy management solutions and energy storage systems. Pricing is government-regulated rather than market-based, and the company funds capital projects through a combination of government-backed financing and offshore bond issuances, exemplified by the $300M Singapore-listed USD bond filing in November 2025 and a $514M consortium credit facility for the Guam Yona Solar Power Project in March 2026. Fitch has assigned the company an AA- credit rating.

Name

Korea East-West Power

Legal name

Korea East-West Power Co., Ltd.

Website

https://ewp.co.kr

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Korea East-West Power is a state-owned electric utility and KEPCO subsidiary that generates thermal, nuclear, and renewable power domestically and operates power projects across nine countries, selling electricity through long-term power purchase agreements with government utilities.

Ownership category

akta.pro rank

Product category

Electric Power Generation

NAICS

Electric Power Generation (22111), Solar Electric Power Generation (221114), Wind Electric Power Generation (221115)

SIC

Electric Services (4911), Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

Solar Project Development & IPP (Utility-Scale & Rooftop) (EUAMABAA)

akta.pro secondary industries

Thermal Power Plant EPC (Gas/Coal/Oil) (EUAEAAAA), Renewable Energy Asset O&M (Wind, Solar, Hydro, Geothermal) (EUAEAGAB), Energy Storage Software & Controls (EMS, monitoring, optimization, cybersecurity) (IMAGAHAJ)

Keywords

• Thermal power generation
• Renewable energy generation
• Overseas power projects
• Energy storage systems
• Power purchase agreements

Headquarters

HQ city

Jungang

HQ country

South Korea

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Infrastructure, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Electricity Sales: Sale of electricity generated from nuclear, thermal (coal, LNG), and renewable power generation facilities to power grids under long-term power purchase agreements.
2. Overseas Power Generation: Revenue from international power plant operations including Jamaica JPS (40% stake), Guam Ukudu (40% stake), Australia Columboola Solar (67% stake), and other overseas projects under BOO/BOT arrangements.
3. Energy Storage Systems (ESS): Joint development of global energy storage system projects with Samsung SDI for grid stabilization and renewable energy integration.
4. REC/RPS Trading: Renewable Energy Certificate trading and Renewable Portfolio Standard compliance through domestic renewable energy facilities.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Korea East-West Power (EWP) is a state-run electric utility and wholly-owned subsidiary of Korea Electric Power Corporation (KEPCO) that generates and sells electricity from thermal (coal, LNG), nuclear, and renewable (solar, wind) sources through facilities such as Dangjin (6,040MW), Ilsan, Donghae, and Ulsan power plants. The company operates international power generation assets across Jamaica, Guam, Indonesia, Australia, USA, Saudi Arabia, Vietnam, and Pakistan under long-term power purchase agreements (PPAs), and develops AI-driven energy technologies including the Korean Integrated Virtual Power Plant, energy storage systems, and grid management solutions.

Product overview

Korea East-West Power (EWP) is a state-run electric utility and subsidiary of Korea Electric Power Corporation (KEPCO) engaged in electricity sale, nuclear, thermal, and renewable power generation. The company offers a portfolio of AI-driven energy technologies centered on the Korean Integrated Virtual Power Plant, which processes distributed energy resources through 14 autonomous agents and 125+ AI software links for real-time analysis and autonomous decision-making. Core AI products include power generation forecasting systems, solar panel inspections, wind power virtual models, and Vehicle-to-Grid technology. The EWP Smart Power Platform provides data analytics infrastructure for machine/deep learning, operational solutions development, real-time data sharing, and equipment maintenance management. Beyond AI technologies, EWP provides Energy Storage Systems (ESS) for grid stabilization, safety solutions (confined space rescue, safety risk indexing, CCTV monitoring), environmental solutions (fuel management, drone surveillance), and renewable energy management solutions (solar monitoring, inspection robots, autonomous drones).

Differentiator

Problem solved

Functional benefit

Brands

• EWP Solution: A solution provider leveraging Korea East-West Power's operational expertise in power generation to offer industrial solutions in safety, environment, renewable energy, and power plant operations.
• EWP Digital Power Plant

Products and services

• Domestic Electricity Generation and Sales Generation and sale of electricity from thermal (coal, LNG), nuclear, and renewable facilities including Dangjin (6,040MW), Ilsan (906.78MW), Donghae (431MW), and Ulsan power plants, supplied to KEPCO's transmission network and domestic customers.
• Overseas Power Generation Projects International power plant operations and development across Jamaica (JPS 40% stake, SJPC 194MW), Guam (Ukudu 198MW gas, Yona Solar 132MW), USA (EWPRC 94MW), Indonesia (Kalsel-1 200MW), Australia (Columboola Solar 202MW, 67% stake), Saudi Arabia (Amala Solar 248MW), and Vietnam (Baeqnin 195MW) under BOO/BOT/BOOT arrangements and 25-year PPAs with foreign government utilities.
• Energy Storage Systems (ESS) Battery energy storage systems for grid stabilization, renewable energy integration, and power supply reliability. Includes lithium iron phosphate (LFP) battery deployments and co-developed projects with Samsung SDI, such as the 325MWh BESS at the Guam Yona Solar project and grid stabilization at Samsung SDI's Ulsan facility.
• Korean Integrated Virtual Power Plant (VPP) AI-driven virtual power plant platform that aggregates distributed energy resources for centralized management and optimization, utilizing 14 autonomous agents and over 125 AI software links for real-time analysis and autonomous decision-making across power generation, renewable integration, and grid stabilization.
• EWP Smart Power Platform Integrated digital platform combining big data, AI, IoT, and digital twin technologies for power plant operations, including machine learning/deep learning analytics, operational solutions development, real-time data sharing, and equipment maintenance management.
• EWP Solution Services Industrial solutions leveraging EWP's power generation operational expertise, covering safety solutions (confined space rescue, safety risk indexing, CCTV monitoring), environmental solutions (low-carbon fuel management, drone surveillance for coal yards), and renewable energy management (solar monitoring, thermal diagnostics, cleaning robots, autonomous drone inspection).
• Renewable Energy Certificates (REC/RPS) Trading Renewable Energy Certificate trading and Renewable Portfolio Standard compliance through EWP's domestic renewable energy facilities, supporting corporate and utility renewable energy quota obligations.

Quantifiable outcome

• Supply approximately 75% of Guam's peak electricity demand through Ukudu plant
• +1 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability7 records

Feature5 records

Partnerships

Seven partnerships are on record, tiered core, major and minor.

• Samsung C&T CorporationcoreStrategic or Co-development Partner · 11 March 2026Samsung C&T joined a Korean consortium with KEPCO and Korea East-West Power for a $514 million credit agreement to develop the Yona Solar Power Project in Guam - a 132MW solar plant with 325MWh battery storage system.
• Korea Electric Power Corporation (KEPCO)coreStrategic or Co-development Partner · 11 March 2026KEPCO is the parent company and operates as a consortium partner with EWP on major overseas projects including the Guam Ukudu power plant (40% EWP stake) and various solar/storage projects. The companies jointly pursue international energy infrastructure investments.
• Samsung SDIcoreStrategic or Co-development Partner · 6 February 2026Samsung SDI and Korea East-West Power signed an MoU to jointly develop and invest in global energy storage systems (ESS) and renewable energy projects. The partnership covers domestic and international projects, including grid stabilization services and energy management at Samsung SDI's Ulsan facility. Samsung SDI is constructing an LFP battery plant in Ulsan specifically for ESS applications.
• Marubeni CorporationmajorStrategic or Co-development PartnerMarubeni Corporation of Japan holds 40% ownership of Jamaica Public Service (JPS) alongside Korea East-West Power's 40% stake, with combined 80% ownership. Jamaica government is considering buying back JPS following hurricane devastation.
• POSCO HoldingsminorStrategic or Co-development PartnerPOSCO Holdings is part of a consortium developing green hydrogen production in Oman's Block Z1-02, along with Samsung Engineering and Korean firms, with involvement from EWP.
• Samsung EngineeringminorStrategic or Co-development PartnerPart of the consortium developing green hydrogen production concession at Block Z1-02 in Oman.
• Greenberg Traurig, P.A.minorImplementation/ SI/ Consulting PartnerInternational law firm advising the Korean consortium on the $514 million financing for Guam Solar-Plus-Storage Project.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Korea Hydro & Nuclear Power (KHNP): KHNP is the largest of the six KEPCO group power generation subsidiaries, focused on hydroelectric and nuclear generation. As a fellow state-owned KEPCO subsidiary, KHNP shares EWP's regulatory/government backing, regulated PPA structure, and proposed consolidation trajectory.
• Korea Southern Power (KOSPO): KOSPO completes the set of five KEPCO generation subsidiaries slated for potential consolidation with EWP, sharing the same state-utility operating model.
• Korea South-East Power (KOEN): KOEN is another KEPCO generation subsidiary operating thermal and renewable plants. It shares identical ownership, regulatory framework, and merger proposal status with EWP, making it the closest direct structural peer.
• Korea Midland Power (KOMIPO): KOMIPO is a third KEPCO generation subsidiary with a similar thermal-and-renewable generation mix and identical restructuring outlook as EWP.
• Korea Electric Power Corporation (KEPCO): KEPCO is EWP's parent company and consortium partner across major overseas projects including Guam Ukudu and Yona Solar. As T&D monopoly off-taker and majority shareholder, KEPCO is simultaneously EWP's primary customer, parent, and policy-setting counterparty.
• Korea Western Power (KOWEPO): KOWEPO operates as a fourth KEPCO generation subsidiary with thermal/renewable generation and is part of the same five-entity consolidation discussion as EWP.

Broad incumbents

• POSCO Energy: POSCO Energy (part of POSCO Holdings, an EWP consortium partner in Oman green hydrogen per source_id:) operates LNG and renewable generation in Korea. Comparable as a Korean industrial-corporate-affiliated IPP pursuing energy transition.
• Marubeni Corporation: Marubeni is EWP's 40% co-owner of Jamaica Public Service (JPS) — a major diversified Japanese trading house with extensive power/IPP investments globally. Comparable as a globally diversified IPP/infrastructure investor with state-aligned backing.
• Engie: Engie is a French global utility IPP with thermal-to-renewables transition strategy, large international project development portfolio, and regulated/unregulated hybrid model — directly comparable to EWP's pivot from coal to renewables and global expansion.

Others

• Samsung SDI: Samsung SDI is EWP's strategic ESS/renewable co-development partner, and builds the LFP ESS batteries that pair with EWP's battery storage projects — a critical ecosystem enabler rather than direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/EWPTVNEWS
• Facebookfacebook.com/ewp.powerian
• Instagraminstagram.com/iamewp
• Xx.com/ewp_tv

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Korea East-West Power