The top management of state-run Korea Electric Power Corp., the nation’s largest utility firm, hosted an investor relations session with analysts at the New York Stock Exchange on Tuesday to present its corporate vision for transforming into a global energy giant, the company said in a press release.

It marked the first time for KEPCO chief executive Cho Hwan-eik to host such an event in New York since 2011.

“The event was designed to address the company’s recent improvements in performance to foreign investors, and also to celebrate the 20th anniversary of our listing on the NYSE,” a KEPCO official said. 

The American depository receipts, or ADRs, of KEPCO were listed on the NYSE in 1994. The utility firm is one of the few South Korean companies listed on foreign stock markets, along with firms such as POSCO and LG Display.

In the meeting, the KEPCO chief mainly highlighted the company’s performance in 2013, when sales rose 9 percent on-year to 54 trillion won ($53 billion). The company also posted its first net profit last year of 238.3 billion won after six straight years of deficits. In 2012, it recorded a net deficit of 3.2 trillion won.

“I believe the upward growth in our profitability will continue this year with help of electricity fees, which were raised a second time last November,” Cho said, adding that the company’s persistent efforts to improve its financial health would also help boost its performance.

KEPCO’s profit structure is significantly affected by electricity prices, which are controlled by the government. In a bid to curtail power demand and reduce the possibility of blackouts, the South Korean government allowed KEPCO to raise prices twice last year.

Regarding its vision for future growth, the KEPCO head called on the need for globalization of the energy business.

“By 2020, the company will raise the ratio of sales from overseas markets to 20 percent from the current 5 percent,’’ Cho said.

With its six power generation arms, including Korea Hydro & Nuclear Power Corp., KEPCO runs a variety of power generation businesses based on different power sources, ranging from nuclear power to thermal power to renewables.

“In addition to nuclear power plants, we are paying more and more attention to the mounting demand for thermal power generation in the overseas markets,” Cho said.

The utility giant has also made efforts to improve its financial health, setting a goal of cutting its-debt-equity ratio to 145 percent by the end of this year.

By Seo Jee-yeon (jyseo@heraldcorp.com)