kePub is a Kobo-ized ePub with some Kobo specific code in it. Kobo devices have some extra features (such as reading stats) when using a kePub from Kobo. There is also a Kobo Touch Extended device plugin in Calibre which can have Calibre auto-convert ePub's to kePub's as they are sent to a Kobo device.
kePub's are downloaded directly to a Kobo device or to the Kobo Desktop & apps. Kobo also usually has the option to download an ePub version (or rarely a PDF or no download) from the Library section on their website which you may already know.
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