  We investigate the detailed electronic structure of PrCoO$_3$ and its
temperature evolution using state-of-the-art photoemission spectroscopy and ab
initio band structure calculations. We observe that in addition to the
correlation effect, spin-orbit interaction plays an important role in
determining the electronic properties of this system. Pr 4$f$ states are found
to be strongly hybridized with the O 2$p$ and Co 3$d$ valence electronic
states, and thus influences the electronic properties significantly. The
calculated results corresponding to the intermediate spin state of Co provide a
good description of the experimental spectra at 300 K. The decrease in
temperature from 300 K leads to a gradual enhancement of the low spin state
contributions in the electronic structure. The temperature evolution of the
band gap is found to be consistent with the transport data.
