KEPCO Funding Gap
● Deficit
$4.97B
Shifted directly to private fabs
Chipmaker Upfront Burden
Samsung 80% / SK 20%
$4.97B
Samsung: $3.98B | SK Hynix: $0.99B
Annual Interest Savings
KEPCO relief
$258.4M
Avoided bond debt service
Est. Payback Period
High Risk
8.4 Yrs
Via scheduled tariff rebates
10-Year Cumulative Cash Flow & Grid Financing Deficit ($ Billions)
KEPCO Bond Model Deficit
Chipmaker Prepayment Exposure
Cumulative Tariff Recoveries
Samsung Electronics Commitment
80% Share
Upfront Capital Outlay:
$3.98 Billion
Fab Capex Delay Risk:
High (EUV Equipment Opportunity Cost)
Annual Tariff Rebate:
$473.3 Million/yr
SK Hynix Commitment
20% Share
Upfront Capital Outlay:
$0.99 Billion
HBM Capacity Risk:
Moderate (High Capex Ratio)
Annual Tariff Rebate:
$118.3 Million/yr