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Korea Electric Power's shares are up in the past two months or so, despite the worst case scenario happening, and this is an indication that negatives are already priced in.
The stock currently trades at 0.24 times P/B, which is similar to where it was trading at during the 2008-2009 Global Financial Crisis.
The two key re-rating catalysts for Korea Electric Power are an eventual increase in tariffs and a significant move into renewables.