Exhibit 8.1

LIST OF SUBSIDIARIES

1. Korea Hydro & Nuclear Power Co., Ltd., a company with limited liability incorporated in Korea

2. Korea South-East Power Co., Ltd., a company with limited liability incorporated in Korea

3. Korea Midland Power Co., Ltd., a company with limited liability incorporated in Korea

4. Korea Western Power Co., Ltd., a company with limited liability incorporated in Korea

5. Korea Southern Power Co., Ltd., a company with limited liability incorporated in Korea

6. Korea East-West Power Co., Ltd., a company with limited liability incorporated in Korea

7. Korea Power Engineering Co., Inc., a company with limited liability incorporated in Korea

8. KPS Co., Ltd., a company with limited liability incorporated in Korea

9. KEPCO Nuclear Fuel Co., Ltd., a company with limited liability incorporated in Korea

10. Korea Electric Power Data Network Co., Ltd., a company with limited liability incorporated in Korea

11. Garolim Tidal Power Plant Co., Ltd., a company with limited liability incorporated in Korea

12. KEPCO International Hong Kong Ltd., a company with limited liability incorporated in Hong Kong

13. KEPCO International Philippines Inc., a company with limited liability incorporated in the Philippines

14. KEPCO Gansu International Ltd., a company with limited liability incorporated in Hong Kong

15. KEPCO Philippines Holdings Inc., a company with limited liability incorporated in the Philippines

16. KEPCO Asia International Ltd., a company with limited liability incorporated in Hong Kong

17. KEPCO Lebanon SARL, a company with limited liability incorporated in Lebanon

18. KEPCO Neimenggu International Ltd., a company with limited liability incorporated in Hong Kong

19. KEPCO Philippines Corporation, a company with limited liability incorporated in the Philippines

20. KEPCO Ilijan Corporation, a company with limited liability incorporated in the Philippines

21. KEPCO SPC, a company with limited liability incorporated in the Philippines

22. KEPCO Shanxi International Ltd., a company with limited liability incorporated in the People’s Republic of China

23. KOMIPO Global Pte Ltd., a company with limited liability incorporated in Singapore

24. KEPCO Canada Energy Inc., a company with limited liability incorporated in Canada

25. KEPCO Netherlands B.V., a company with limited liability incorporated in Netherlands

26. KEPCO Imouraren Uranium Investment Ltd., a company with limited liability incorporated in France

27. KEPCO Australia Pty. Ltd., a company with limited liability incorporated in Australia

28. KOSEP Australia Pty. Ltd., a company with limited liability incorporated in Australia

29. KOMIPO Australia Pty. Ltd., a company with limited liability incorporated in Australia

30. KOWEPO Australia Pty. Ltd., a company with limited liability incorporated in Australia

31. KOSPO Australia Pty. Ltd., a company with limited liability incorporated in Australia

All of the foregoing entities do business under their respective names set forth above.