KEPCO Engineering & Construction

What KEPCO Engineering & Construction does

KEPCO Engineering & Construction (한국전력기술, KEPCO E&C) is a South Korean public power engineering firm founded in 1975, listed on KOSPI under stock code 052690 since 2009, and headquartered in Gimcheon Innovation City with 1,001–5,000 employees. A subsidiary of Korea Electric Power Corporation (KEPCO), the company specializes in full-lifecycle engineering services for power generation infrastructure, with nuclear power as its core competency. Its offerings span nuclear (including the proprietary BANDI SMR at 200 MWt / 60 MWe), thermal (LNG combined-cycle, coal-fired, environmental), renewable (offshore wind, solar, hydrogen/ammonia, CCS), and digital engineering services, delivered primarily through EPCM (Engineering, Procurement, Construction, Management) contracts.

KEPCO E&C is one of only six nuclear exporting nations globally, having won landmark UAE Barakah (2010) and Czech Republic (2024) nuclear export contracts, and its APR1400 reactor design received US NRC design certification in 2018 — the first non-US standard design to achieve this distinction. The firm is also the only company globally that performs both comprehensive nuclear plant design (A/E) and reactor system design (NSSS) in-house. A wholly-owned subsidiary, KEPCO Engineering Service Co., Ltd. (acquired April 2020), supports non-regular employee services.

The business generates revenue through multi-year EPC contracts, nuclear plant design services, and long-term engineering and maintenance agreements, with pricing determined through competitive tender processes and government-to-government frameworks. Customer concentration is high, anchored by the parent KEPCO group domestically and by state-owned utilities and government agencies internationally (UAE, Czech Republic, Jeonbuk province). Strategic priorities include AI-driven digital transformation (the NEXA generative AI service, SK AX platform partnership, digital twin and BIM integration), offshore wind EPC and ownership, clean hydrogen/ammonia capabilities, and the BANDI SMR development roadmap targeting standard design approval by 2028 and first-of-a-kind deployment by 2031.

Name

KEPCO Engineering & Construction

Legal name

한국전력기술주식회사 (KEPCO ENGINEERING & CONSTRUCTION COMPANY.INC.)

Website

https://kepco-enc.com

Company type

Public

Founded year

1975

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

KEPCO Engineering & Construction (KEPCO E&C) is a South Korean public engineering firm providing full-lifecycle design, EPCM, and consulting services for nuclear, thermal, and renewable power plants, serving domestic KEPCO group utilities and international government clients.

Ownership category

akta.pro rank

Product category

Nuclear Power Engineering Services

NAICS

Nuclear Electric Power Generation (221113)

SIC

Electrical Industrial Apparatus (3620)

akta.pro primary industry

Nuclear Plant EPC & Construction (EUAEAAAC)

akta.pro secondary industries

Project & Program Management (PMO), Controls & Reporting (EUAKAAAC), Instrumentation & Control (I&C) Integration & Commissioning Support (EUAKAAAH), Balance-of-Plant (BOP) EPC (Turbine Island, Conventional Systems, Buildings) (EUAKAAAF), Power Plant Electrical Systems EPC (Switchyard, Transformers, Protection & Controls) (EUAEAAAM), Engine Generator & Microgrid Power Plant EPC (Diesel/Gas Recip) (EUAEAAAJ), Microgrid + Storage EPC & Systems Integration (EUAEAEAD)

Keywords

• Nuclear power engineering
• Power plant EPC
• Small modular reactors
• Offshore wind design
• Thermal power engineering

Headquarters

HQ city

Gyeongsan

HQ country

South Korea

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. EPC (Engineering, Procurement, Construction): Primary revenue stream from engineering, procurement, and construction services for nuclear power plants, thermal power plants, and offshore wind projects. Includes design services, construction management, and project execution.
2. Nuclear Power Plant Design Services: Comprehensive nuclear reactor design including reactor system (NSSS) design and overall plant (A/E) design for domestic and international projects.
3. Long-term Engineering Agreements: Post-construction engineering support and maintenance services for operating power plants, providing recurring revenue through long-term service contracts.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

KEPCO Engineering & Construction (KEPCO E&C) is a power plant design and engineering company that delivers full-lifecycle engineering, procurement, construction, and management (EPCM) services for nuclear, thermal, and renewable power generation infrastructure. Its core nuclear offering spans reactor system design (NSSS), comprehensive plant design (A/E), construction, operations and maintenance, safety and life management, and decommissioning, underpinned by the proprietary APR1400 reactor (US NRC design certified) and the BANDI small modular reactor (SMR) brand. The company also provides thermal power engineering, offshore wind and renewable energy EPCM, clean hydrogen and ammonia solutions, and digital engineering/NEXA AI services for the power sector.

Product overview

KEPCO Engineering & Construction (한국전력기술, KEPCO E&C) operates as an integrated power and energy engineering firm offering a full portfolio spanning nuclear, thermal, and renewable energy services. Its core business is nuclear power plant engineering — covering design, operations, maintenance, life management, and decommissioning across the plant lifecycle — underpinned by proprietary SMR technology under the BANDI brand. The company has expanded into clean energy new ventures (hydrogen/ammonia, CCS) and digital engineering, anchored by its generative AI service 'NEXA' and AI platforms from SK AX. Service delivery is organized around EPCM (Engineering, Procurement, Construction, Management) for both domestic and overseas markets, with recent focus on offshore wind EPC and nuclear new-build (APR1400, APR1000 exports).

Differentiator

Problem solved

Functional benefit

Brands

• BANDI: KEPCO E&C's proprietary SMR (Small Modular Reactor) brand. A 200MWt/60MWe marine-based small modular reactor targeting isolated regions, islands, and desert areas. Named after fireflies (반딧불이) symbolizing sustainable energy in dark places.

Products and services

• Nuclear Power Plant Engineering Full-lifecycle nuclear power plant engineering service for utilities and governments, covering conceptual, basic, and detailed design (both comprehensive A/E and NSSS reactor system), construction support, operations and maintenance support, safety assessment and plant life management, and decommissioning and waste disposal. Customers are domestic KEPCO-group utilities and international state-owned nuclear operators (UAE Barakah, Czech Republic).
• BANDI (반디) Small Modular Reactor Proprietary small modular reactor (SMR) design brand under KEPCO E&C. A marine-based pressurized water reactor with 200 MWt/60 MWe capacity, 60-year design life, and applications including isolated-area power, islands, deserts, district heating, seawater desalination, and nuclear-renewable hybrid systems. Built using proven commercial reactor components and targeting standard design approval by 2028 and first deployment by 2031.
• Thermal Power Engineering Engineering services for thermal power generation assets including LNG combined-cycle plants, heat-supply cogeneration, coal-fired power plants, and environmental equipment (FGD, DeNOx, water pollution prevention, greenhouse gas reduction). Customers are thermal power operators, utilities, and industrial co-gen owners.
• Renewable Energy Engineering Engineering and EPCM services for renewable energy projects including offshore wind, onshore wind, solar photovoltaic, fuel cells and energy storage systems (ESS), and biomass and waste-to-energy (WtE) facilities. Customers are renewable energy project developers and consortia.
• Clean Hydrogen and Ammonia Engineering Engineering services for green and blue hydrogen production, hydrogen and ammonia co-firing technology for power plant fuel applications, and CCS (Carbon Capture and Storage) R&D. Customers are power utilities and industrial decarbonization project developers.
• EPCM (Engineering, Procurement, Construction, Management) Integrated EPCM service across power plant and energy infrastructure projects, combining engineering, procurement, construction management, and project controls. Delivered to domestic and international project owners via competitive bidding or negotiated consortium structures.
• NEXA Generative AI Engineering Service KEPCO E&C's generative AI service ("NEXA") driving AI transformation (AX) in engineering. Provides AI-augmented plant design and operations workflows, digital twin and BIM integration across the nuclear lifecycle, and AI-driven optimization (e.g., deep learning for offshore wind maintenance scheduling). Recognized with the Korea AI Innovation Award Grand Prize for two consecutive years. Customers are KEPCO E&C's internal project teams and external power-sector clients adopting the NEXA-enabled SK AX platforms (AXgenticWire AiPMO and AXgenticWire NPO Agent Builder).

Quantifiable outcome

• Ranked #1 globally in nuclear power plant design overseas sales for 4 consecutive years (2012-2015)
• +2 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature4 records

Partnerships

Twelve partnerships are on record, tiered core.

• Korea Hydro & Nuclear Power (KHNP)coreStrategic or Co-development Partner · 29 June 2026KHNP as lead representative in the Jeonbuk offshore wind consortium with KEPCO E&C as consortium member. SPC equity investment and EPC participation for 800MW offshore wind project in Buan, Jeonbuk.
• Hanwha OceancoreStrategic or Co-development Partner · 29 June 2026Part of Jeonbuk offshore wind consortium participating in 800MW project development.
• Doosan EnerbilitycoreStrategic or Co-development Partner · 29 June 2026Part of Jeonbuk offshore wind consortium participating in 800MW project development.
• SK AXcoreStrategic or Co-development Partner · 26 June 2026SK AX and KEPCO E&C signed an agreement to collaborate on AI applications across the power sector, covering plant design, project management, operations and maintenance. KEPCO E&C will adopt SK AX's AI platforms including AXgenticWire AiPMO for project management and AXgenticWire NPO Agent Builder. The companies also plan to jointly develop an offshore wind operations and maintenance platform.
• Haesong Offshore WindcoreStrategic or Co-development Partner · 27 May 2026Tripartite MoU covering subsea cable supply, transportation, installation, and operations and maintenance support for Haesong Offshore Wind 1 and 3 projects (504 MW each phase) off the west coast of Shinan, Jeonnam. Projects owned by Copenhagen Infrastructure Partners.
• LS Cable & SystemcoreStrategic or Co-development Partner · 27 May 2026Preferred supplier agreement for subsea cable supply for Haesong Offshore Wind projects.
• LS Marine SolutioncoreStrategic or Co-development Partner · 27 May 2026Preferred supplier agreement for transportation and installation services for Haesong Offshore Wind projects.
• HanmiGlobalcoreStrategic or Co-development Partner · 12 January 2026Strategic partnership combining HanmiGlobal's project management capabilities, KEPCO E&C's design and engineering expertise, and Turner & Townsend's project controls and cost management. Focus on leveraging digital twins, BIM, and AI across the nuclear power lifecycle for domestic and overseas markets.
• Turner & TownsendcoreStrategic or Co-development Partner · 12 January 2026UK-based project controls and cost management firm partnering with KEPCO E&C and HanmiGlobal for global nuclear power market opportunities. Joint focus on digital twins, BIM, and AI technologies.
• HD Korea Shipbuilding & Offshore EngineeringcoreStrategic or Co-development PartnerPartnership for BANDI marine SMR development. Signed MOU in September 2020 for marine nuclear market entry. Joint development with Lloyd's Register and Zodiac for nuclear-powered vessels (November 2023).
• Korea Atomic Energy Research Institute (KAERI)coreStrategic or Co-development PartnerCollaboration on SMR technology development including SMART reactor design and BANDI SMR program.
• Korea Water and Nuclear Power (KHNP)coreStrategic or Co-development PartnerPartnership in nuclear power plant projects and consortium for offshore wind development.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Worley: Australia-based global engineering and project delivery firm serving energy, chemicals, and resources. Comparable to KEPCO E&C across power generation EPCM and renewables, with overlapping offshore wind, hydrogen, and nuclear adjacent work, though broader in non-energy sectors.
• Bechtel: US-based privately held engineering, construction, and project management firm with a long history in nuclear new-build, plant lifecycle services, and large-scale EPC. Comparable as a global nuclear EPC incumbent, though significantly larger and more diversified.
• Jacobs Solutions: Global engineering services and consulting firm with a dedicated Critical Mission Solutions and nuclear division serving utilities, defense, and government. Comparable to KEPCO E&C in nuclear plant engineering services, though broader and more diversified across non-power infrastructure.

Direct peers

• Sargent & Lundy: US-based engineering firm specializing in power and nuclear plant design, modifications, and lifecycle services for utilities. Highly comparable as a dedicated nuclear A/E peer with similar scope across design, operations support, and decommissioning.
• Burns & McDonnell: US employee-owned engineering, architecture, and construction firm with a substantial power and nuclear practice covering plant design, environmental services, and EPC support. Direct peer given comparable A/E and nuclear engineering services delivered to utilities.
• Framatome: France-based nuclear reactor and services provider (EDF subsidiary), offering EPR reactor design and full nuclear plant engineering services. Direct competitor to KEPCO E&C in advanced reactor design, nuclear new-build EPC, and overseas nuclear export tenders across Europe and emerging markets.
• AtkinsRéalis (formerly SNC-Lavalin): Canadian engineering and nuclear services firm operating the Candu Energy division for heavy-water reactor design, refurbishment, and new-build services. Directly comparable to KEPCO E&C as a global A/E and lifecycle services provider in the nuclear sector.
• Westinghouse Electric Company: US-headquartered nuclear plant designer, reactor vendor, and fuel/services supplier, now under Brookfield/Cameco ownership. Direct competitor to KEPCO E&C in nuclear steam supply system design, A/E services, and global nuclear EPC, competing head-to-head for new-build projects such as the Czech program.

Regional players

• Hyundai Engineering & Construction: Korean EPC contractor with nuclear and thermal power plant construction experience alongside broader infrastructure work. Comparable as a domestic Korean peer competing for utility EPC contracts, with overlapping thermal and nuclear project delivery capabilities.
• Doosan Enerbility: Korean heavy-industry firm supplying nuclear steam generators, turbine/generators, and power equipment, and consortium partner with KEPCO E&C on Jeonbuk offshore wind. Comparable as a domestic Korean nuclear and power equipment peer, with closer supplier relationship than direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@kepcoenc1
• Facebookfacebook.com/kepcoenc
• Instagraminstagram.com/kepco.enc/?hl=ko

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

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 KEPCO Engineering & Construction