Core subsidiary of Korea Electric Power Corp. Key company in national electricity supply Reduced risk of privatization Heavy dependence on fuel imports Large capital investments Standard&Poor's Ratings Services has equalized its long-term corporate credit rating on Korea Midland Power Co. Ltd. (KOMIPO; A/Stable/--) with its long-term rating on Korea Electric Power Corp. (KEPCO; A/Stable/A-1), which wholly owns KOMIPO. Our rating on KOMIPO also reflects the company's importance to the national electricity supply as well as a reduction in the risk that the government of the Republic of Korea (A/Stable/A-1) will privatize it. The rating equalization with KEPCO reflects, for the most part, our opinion that KOMIPO's creditworthiness, as well as that of Korea's five other electric power generating
