KEPCO set 11 September as the record date for determining who may vote at an extraordinary general meeting, with the shareholder register closed from 12 to 22 September. The filing does not state the agenda; that appears in the convocation notice, which had not been filed when this was published. This is the third extraordinary meeting KEPCO has called in 2026, after ones held on 20 May and 17 June, both of which elected directors. State-owned Korean corporations run director appointments through a public nomination process and convene meetings as vacancies arise rather than batching them into the annual meeting, so the frequency is less unusual than it looks from a US perspective. Three in one calendar year is still a lot, and the company has separately filed three notices of independent-director appointment, dismissal or mid-term departure between 6 May and 6 July. For a holder of the New York ADR the practical point is narrow: the meeting runs on a Korean timetable, the materials are in Korean, and the government and the Korea Development Bank between them hold a controlling majority of the votes.
At an extraordinary meeting on 17 June, shareholders elected two standing executive directors — Baek Woo-ki and Jeon Chan-hyuk, both long-serving KEPCO managers, on two-year terms — and two outside directors as non-standing audit committee members: Jung Do-jin, a Chung-Ang University business professor who previously chaired the audit committees of NAVER and Hanwha Aerospace, and Hwang Jung-hwa, a lawyer already serving as a KEPCO non-standing director. The voting figures show a Korean rule with no US equivalent. For the executive directors, 66.4% of voting shares participated and 97.4% of those approved. For the audit committee seats the participating base drops to about 37%. That is the 3% rule: when a Korean company elects audit committee members, each shareholder's voting power is capped at 3% of shares however much they own. It exists to stop a controlling holder appointing its own auditors, and at a company where the government and the Korea Development Bank hold a majority, it is the one mechanism giving minority shareholders real weight on a board committee.
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