SEOUL, Oct. 23 (Korea Bizwire) — The state-run Korea Electric Power Corp. (KEPCO) said Wednesday it will raise electricity rates for industrial use while freezing those for households starting this week amid global energy price volatility and escalating financial strains. Under the decision, the electricity rate for industrial use will rise 9.7 percent on average [...]
SEJONG, Oct. 14 (Korea Bizwire) — The chief of the state-run Korea Electric Power Corp. (KEPCO) on Monday emphasized the importance of raising electricity bills to maintain investment in essential infrastructure and ensure the sustainability of the sector’s ecosystem. “We need to bolster the power grid on time to support the innovative growth of the [...]
SEOUL, Sept. 23 (Korea Bizwire) — The state-run Korea Electric Power Corp. (KEPCO) said Monday it plans to freeze electricity rates for the fourth quarter. KEPCO said it will keep the adjusted unit fuel cost — a key part of the country’s electricity rates — unchanged at 5 won (US$0.003) per kilowatt-hour for the October-December [...]
SEOUL, Mar. 21 (Korea Bizwire) — The state-run Korea Electric Power Corp. (KEPCO), South Korea’s electricity monopoly, said Thursday it has decided to freeze electricity prices for the second quarter. In 2023, KEPCO raised the rates three times — by 13.1 won per kilowatt hour (kWh) in the first quarter, 8 won in the second [...]
SEOUL, Mar. 18 (Korea Bizwire) – The Korea Electric Power Corporation (KEPCO), one of South Korea’s largest state-run companies, is breaking new ground by deploying artificial intelligence to assist in identifying and recommending talent for key leadership positions. The power utility has developed an “AI-based talent recommendation system” that taps HR and job performance data to [...]
SEOUL, Jan. 24 (Korea Bizwire) — The Korea Electric Power Corporation (KEPCO), grappling with a debt of 200 trillion won, is causing internal strife after asking employees to sign a ‘salary return agreement’ to fund voluntary retirement severance. This move has sparked significant discontent among employees, with some questioning why employee money is being used to [...]
SEOUL, Dec. 7 (Korea Bizwire) — Korea Electric Power Corp. (KEPCO) on Thursday issued a public apology over a massive power outage that hit the southeastern industrial city of Ulsan the previous day. The blackout occurred at around 3:37 p.m. in a southern residential district of Ulsan, about 300 kilometers southeast of Seoul, due to a malfunctioning [...]
SEOUL, Nov. 15 (Korea Bizwire) – On Tuesday, KEPCO announced its adoption of a one-strike policy, including the possibility of dismissal, in response to a swift investigation prompted by the National Audit Office. The audit revealed that numerous employees had breached their non-competition obligations, engaging in the solar power business and fueling a fairness controversy. In [...]
SEOUL, Oct 19 (Korea Bizwire) — The chief of state-run Korea Electric Power Corp. (KEPCO) on Thursday said the company will continue to seek a gradual rise in electricity prices based on production costs amid the lingering uncertainties in the energy market. “The global electricity industry is facing an unprecedented crisis amid the insecurity in [...]
WASHINGTON, Sept. 19 (Korea Bizwire) – A U.S. energy firm said Tuesday it will appeal a district court’s decision earlier this week to dismiss its lawsuit filed to stop two South Korean state-run companies from exporting nuclear power plants. On Monday, the District Court for the District of Columbia rejected the complaint that Westinghouse Electric [...]