SEOUL, March 13 (Korea Bizwire) – In the near future, it will be possible to resell electricity stored in an electric vehicle’s battery to the grid. As EV users can charge their vehicles at a lower cost at night, they can make money by reselling the stored electricity at a higher cost during the day. [...]
SEOUL, Feb. 11 (Korea Bizwire) — Korea Electric Power Corp. (KEPCO), South Korea’s state-run power company, said Wednesday its net profit soared 1,505.8 percent in 2014 from a year earlier due to higher electricity rates and cheaper fuel costs. Net income reached 2.78 trillion won (US$2.55 billion) last year, compared with 174 billion won a [...]
SEOUL, Jan. 19 (Korea Bizwire) – The South Korean government announced a plan to create a business friendly environment by revising laws limiting investment this year. According to the plan, two new integrated resorts with casinos, an additional 5,000 hotel rooms and four duty-free shops (three in Seoul and one in Jeju) will be constructed [...]
SEOUL, Nov. 12 (Korea Bizwire) — Hyundai Motor officially announced that it is going to purchase 2,202,764 (1% in total) shares of common stocks and 652,019 (1%) shares of preferred stocks on November 11. It was nine years ago when Hyundai Motor purchased its own shares to support its stock price. In 2005 Hyundai had [...]
BARRE, VT, Oct. 30 (Korea Bizwire) — Northern Power Systems (www.northernpower.com) (TSX: NPS) has commissioned four of its NPS 100 wind turbines in South Korea’s newest and most advanced hybrid energy project, while working in close collaboration with the national grid operator Korean Electric Power Corporation (KEPCO), to ensure effective delivery of this hybrid microgrid. [...]
SEOUL, Sep. 25 (Korea Bizwire) – Visiting Canada from September 21 to 24, president and CEO Cho Hwan-ik of Korea Electric Power Corporation (KEPCO) signed a Memorandum of Understanding (MOU) with PowerStream to collaboratively advance into the microgrid market in North America. A microgrid is a small-scale power grid that can operate independently or in [...]
SEOUL, Sep. 18 (Korea Bizwire) – Hyundai Motor Group has won one of the most high-profile real estate auctions in South Korea’s history. Korea Electric Power Corp said today the winner for the site of KEPCO’s headquarters, which is estimated to be worth over 3.33 trillion won (US$3.22 billion), is Hyundai Motor Group, which, according to local reports and sources, [...]
SEOUL, Sep. 13 (Korea Bizwire) – According to the Cheongdo Task Force Team for Preventing the Construction of Electricity Transmission Towers, a police officer tried to bribe six Cheongdo residents who have fought against transmission towers to be built for about two years with a sum of money in the envelop on which there was [...]
SEOUL, Sep. 4 (Korea Bizwire) – The Korea Electric Power Corporation (KEPCO) knuckles down to turning 64 islands among 180 islands in Korea into archipelagos of creating self-reliance energy. In these islands populated by hundreds to thousands residents, diesel generators have produced electricity. Since demand for it is much less than cities, the cost of electricity [...]
The overseas operations of KEPCO has multiple advantages in that it can help the company reduce debt while bringing down the domestic electricity rates and creating high-paying jobs in overseas locations in which it does business. (image: Ramkumar/ Flickr) SEOUL, Aug. 12 (Korea Bizwire) — Korean Electric Power Corporation (KEPCO) announced that the net earnings for this [...]