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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 6-K

                        REPORT OF FOREIGN PRIVATE ISSUER

                      Pursuant to Rule 13a-16 or 15d-16 of
                       the Securities Exchange Act of 1934

                          For the Month of March, 2003

                        KOREA ELECTRIC POWER CORPORATION
                 (Translation of registrant's name into English)

              167, Samseong-dong, Gangnam-gu, Seoul 135-791, Korea
                    (Address of principal executive offices)

          (Indicate by check mark whether the registrant files or will
           file annual reports under cover of Form 20-F or Form 40-F.)

                        Form 20-F   X          Form 40-F
                                  -----                  -----

        (Indicate by check mark whether the registrant by furnishing the
       information contained in this form is also thereby furnishing the
       information to the Commission pursuant to Rule 12g3-2(b) under the
                        Securities Exchange Act of 1934.)

                            Yes                   No   X
                                -----                -----

       (If "Yes" is marked, indicate below the file number assigned to the
       registrant in connection with Rule 12g3-2(b): 82-               .)
                                                        ---------------

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This Report of Foreign Private Issuer on Form 6-K is deemed filed for all
purposes under the Securities Act of 1933, as amended, and the Securities
Exchange Act of 1934, as amended, including by reference in the Registration
Statement on Form F-3 (Registration No. 33-99550) and the Registration Statement
on Form F-3 (Registration No. 333-9180).



     Korea Electric Power Corporation ("KEPCO") has successfully completed the
solicitation of consents and proxies from the holders of its debentures and
notes listed below under the heading Yankee and Global Bonds (the "Bonds"). The
aggregate principal amount of the Bonds restructured is approximately
US$2.95billion. The solicitations relate to the amendments to the agreements
under which the Bonds were issued and to waivers of certain rights under the
Korean Commercial Code (the "KCC"). The purpose of the amendments and waivers is
to facilitate KEPCO's implementation of the restructuring plan for the
electricity industry in the Republic of Korea, including the intended
disposition of all or part of KEPCO's interests in one or more of its generation
company subsidiaries (the "GENCOs"). In consideration for the amendments and
waivers, The Korea Development Bank furnished a full, unconditional and
irrevocable guarantees in respect of the Bonds.



DESCRIPTION OF DEBT SECURITIES                     CUSIP NUMBER         ISIN NUMBER        COMMON CODE
- ------------------------------                     ------------        ------------        -----------
                                                                                  

U.S.$1,350,000,000 6 3/8% Notes due 2003             500631AC0         US500631AC02        004 739 698
U.S.$300,000,000 8 1/4% Notes due 2005               500631AQ9         US500631AQ97        010 972 817
U.S.$350,000,000 7 3/4% Debentures due 2013          500631AB2         US500631AB29        008 502 102
U.S.$70,640,000 6% Debentures due 2026               500631AG1         US500631AG16        007 200 005
U.S.$300,000,000 7% Debentures due 2027              500631AH9         US500631AH98        012 029 896
U.S.$200,000,000 6 3/4% Debentures due 2027          50063AAA4         US50063AAA43        009 948 376
U.S.$171,422,000 7.40% Amortizing
 Debentures due 2016                                 500631AD8         US500631AD84        013 745 579
U.S.$208,256,000 7.95%
 Zero-to-Full Debentures due 2096                    500631AE6         US500631AE67        011 235 786


     Through the adoption of the amendments, KEPCO, among other things, has
eliminated certain constraints to its implementation of the electricity industry
restructuring plan. The waivers eliminated the joint and several liability of
the GENCOs with respect to the Bonds and, thereby, facilitate the eventual
divestiture or sale of the GENCOs, pursuant to the restructuring plan. The joint
and several liabilities arose as a matter of law under the KCC in connection
with KEPCO's creation of the GENCOs and transfer of KEPCO assets to them.

     KEPCO retained Credit Suisse First Boston Corporation and Lehman Brothers
Inc. as Solicitation Agents.



                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.



                                            KOREA ELECTRIC POWER CORPORATION


                                            By: /s/ Chung, Soo Eun
                                                -------------------------------
                                            Name:  Chung, Soo Eun
                                            Title: Chief Financial Officer


Date: March 3, 2003