[Edaily Reporter Kim Hyung-wook ] #KoreaElectricPower Corporation (KEPCO) announced on the 8th that it ranked 319th on Forbes’ list of the world’s top companies this year. This marks a 428-rank jump—its highest position in three years—as the company rebounded from the impact of the 2022 energy crisis.

The U.S. business magazine Forbes has been announcing its list of the top 2,000 companies annually by evaluating the revenue, profits, assets, and market capitalization of publicly traded companies. This year’s list was announced on the 25th of last month (local time). J.P. Morgan Chase took the top spot for the fourth consecutive year, followed by Amazon and Berkshire Hathaway. Among Korean companies, 66 firms—including SamsungElectronics (15th), SK hynix (48th), and HyundaiMotor (75th)—made the list of the top 2,000 companies.

KEPCO, a global utility company, had consistently ranked among the top firms but dropped to 747th place in the 2023 evaluation. This was due to the impact of the global energy crisis triggered by the 2022 Russia-Ukraine war, during which the company suffered its largest-ever operating loss (32.7 trillion won).

However, it rebounded to 711th place in 2024 and 402nd in 2025, before climbing to 319th last year—a rise of 428 spots in just three years. In particular, the company recorded its highest-ever operating profit of 13.5 trillion won, largely driven by the stabilization of prices for power generation fuels such as natural gas and coal last year.

When looking solely at utility companies, KEPCO’s rise in the rankings is even more dramatic. After ranking 41st for two consecutive years from 2023 to 2024, it returned to the top tier, ranking 18th in 2025 and 13th in 2026.

Amid the KOSPI rally that began last year, KEPCO also hit a record high of 69,900 won on January 22 of this year. However, according to KEPCO’s own analysis, the company remains undervalued in terms of its stock (market capitalization of $16.6 billion) when compared to leading utility companies. This is because, while its revenue ($68.5 billion), net income ($6.1 billion), and assets ($168.3 billion) rank among the world’s top tier, its market capitalization is only one-tenth of the average ($150.3 billion) of the top three companies.

Given its status as a state-owned enterprise, KEPCO enjoys a credit rating on par with that of the Korean government; however, unlike most overseas utility companies that adjust electricity rates based on cost, KEPCO prioritizes price stability in its rate-setting process, which acts as a constraint on investment.

KEPCO President Kim Dong-cheol stated, “This rise in the rankings was made possible by our employees, who have quietly dedicated themselves with the mindset that ‘I am the owner of this company,’” adding, “We will use this as a springboard for a new leap forward and strive to become the world’s leading energy company.”