SEOUL, Aug. 12 (Korea Bizwire) — The state-run Korea Electric Power Corp. saw its net loss widen sharply in the second quarter of the year on frozen electricity rates amid higher fuel costs. The consolidated net loss came to 4.84 trillion won (US$3.7 billion) in the April-June period, compared with a loss of 661.97 billion [...]
SEOUL, Aug. 9 (Korea Bizwire) — The state-run Korea Electric Power Corp. (KEPCO) likely posted a massive loss in the second quarter due to surging costs following record red ink three months earlier, a market tracker said Tuesday. The market consensus of KEPCO’s consolidated operating loss stands at 5.37 trillion won (US$4.11 billion) for the [...]
SEOUL, July 20 (Korea Bizwire) — South Korea’s state-run Korea Electric Power Corp. (KEPCO) said Wednesday it has built a 60-megawatt solar farm in Guam, a move that could help reduce the U.S. Pacific territory’s dependence on imported oil and boost access of its people to clean electricity. KEPCO said it held a ceremony earlier [...]
SEOUL, June 27 (Korea Bizwire) — South Korea said Monday it will raise electricity rates for the third quarter and natural gas prices for civilian use starting next month amid mounting inflationary pressure due to high global energy costs. The state-run power firm Korea Electric Power Corp. (KEPCO) said it will raise the adjusted unit [...]
SEOUL, June 9 (Korea Bizwire) – South Korea’s state power firm Korea Electric Power Corp. (KEPCO) has been sharply increasing debt sales this year as the utility company remains deep in the red amid surging costs and the freeze in electricity rates, sources said Thursday. In its latest move, KEPCO has recently carried out a [...]
SEOUL, June 9 (Korea Bizwire) — South Korea’s state-run Korea Electric Power Corp. (KEPCO) said Thursday that it agreed with the U.S. nuclear power firm Westinghouse to boost cooperation for joint entry into overseas nuclear markets. The agreement was made during a meeting between KEPCO chief Cheong Seung-Il and Westinghouse CEO Patrick Fragman on Wednesday. [...]
SEOUL, May 18 (Korea Bizwire) — South Korea’s state power firm Korea Electric Power Corp. (KEPCO) said Wednesday it will sell all overseas coal power plants, including one in the Philippines, as part of efforts to improve its financial status over record quarterly losses. Last week, the state-run electricity monopoly reported a record-high operating loss [...]
SEOUL, May 13 (Korea Bizwire) — South Korea’s state power firm Korea Electric Power Corp. (KEPCO) on Friday reported a record-high operating loss in the first quarter of this year due to high global energy costs and the freeze in electricity rates. Operating loss for the January-March period hit an all-time quarterly high of 7.78 [...]
SEOUL, May 4 (Korea Bizwire) — South Korea’s state utility Korea Electric Power Corp. (KEPCO) has launched an initiative to create a hydrogen ecosystem, including the commercialization of hydrogen and ammonia power generation, through a collaboration with private companies. KEPCO recently signed a memorandum of understanding with Lotte Chemical Corp. and POSCO Holdings Inc. to expand cooperation [...]
SEOUL, April 12 (Korea Bizwire) — BMW Group Korea said Monday it has signed a memorandum of understanding with South Korea’s state power firm Korea Electric Power Corp. (KEPCO) for joint development of a next-generation “plug-and-charge” electric vehicle (EV) charging service. The plug-and-charge service allows for one-stop processing of user identification and payment by simply [...]