KEPCO Faces New $1.1B Arbitration Claim from KHNP

Key Highlights

• Korea Hydro & Nuclear Power Co., Ltd. (KHNP) initiated arbitration against KEPCO.
• The arbitration seeks payment of approximately USD 1.1 billion (KRW 1,661 billion).
• The claim relates to an operational support services contract for the UAE nuclear power plant project.
• The amount claimed represents 3.37% of KEPCO's total equity (KRW 49,323 billion as of fiscal year 2025).
• The arbitration was filed with the Korean Commercial Arbitration Board (KCAB) on May 21, 2026.
• KEPCO plans to defend its case through arbitration counsel.
• This new arbitration replaces a previous proceeding before the London Court of International Arbitration (LCIA), which is expected to be withdrawn.