[Market Highlight] KEPCO Surges on Earnings and Dividend Growth Expectations...Hits Record High

Korea Electric Power Corporation (KEPCO) surged on expectations of improved earnings and increased dividends, setting a new 52-week intraday high.

As of 9:22 a.m. on April 21, KEPCO was trading at 25,200 won on the Korea Exchange, up 900 won (3.70%) from the previous session. This marks a new 52-week high. It is also the first time since March of last year that KEPCO's share price has exceeded 25,000 won.

The rise in share price appears to be driven by expectations of improved earnings and a subsequent increase in dividends. On this day, Shinhan Investment Corp. raised its target price for KEPCO from 30,000 won to 32,000 won. Choi Kyuhun, a researcher at Shinhan Investment Corp., stated, "Expectations for profit growth and increased dividends are mounting due to a favorable business environment," and explained, "As energy prices and exchange rates continue to stabilize at lower levels, the foundation for profit growth this year is becoming even stronger. Based on this, the dividend per share (DPS) is expected to increase from 213 won to 1,500 won."