SEOUL, Feb. 19 (Korea Bizwire) — Korea Electric Power Corp. (KEPCO) on Friday reported a net income of 2.09 trillion won (US$1.9 billion) in 2020, turning from a loss of 2.26 trillion won a year earlier on the back of the low fuel costs. Operating profit for the year was 4.08 trillion won, compared with [...]
SEOUL, Oct. 5 (Korea Bizwire) – The board of state-run Korea Power Electric Corp. (KEPCO) on Monday approved the company’s plan to participate in a coal-fired power plant construction project in Vietnam despite environment-related controversies. A slew of South Korean companies are seeking to implement the US$2.2 billion project to build the 1,200-megawatt Vung Ang [...]
SEOUL, July 8 (Korea Bizwire) — South Korea’s state-run utility Korea Electric Power Corp. (KEPCO) announced on Tuesday that it has developed Plug and Charge technology that enables automatic user certification and payment once a charging plug is inserted into an electric vehicle (EV). This technology ensures simple and automatic charging for EVs without the [...]
SEOUL, June 30 (Korea Bizwire) — The board of South Korea’s state-run utility firm Korea Electric Power Corp. (KEPCO) on Tuesday approved a business project to build two units of coal power plants in Indonesia despite controversies over profitability and the environment. KEPCO clinched a deal with Indonesia-based PT Barito Pacific in May 2019 to [...]
SEOUL, Feb. 28 (Korea Bizwire) — State-run utility Korea Electric Power Corp. (KEPCO) said Friday that its net losses widened in 2019 from a year earlier due mainly to weaker electricity sales coupled with increased financial costs. Net losses for last year deepened to 2.22 trillion (US$1.8 billion) from 1.17 trillion won in 2018, the [...]
SEOUL, Dec. 31 (Korea Bizwire) — The South Korean state-run utility firm Korea Electric Power Corp. (KEPCO) is likely to raise electricity costs next year, as it grapples with poor earnings amid a new energy policy drive, industry sources said Tuesday. On Monday, the country’s sole electricity provider said it will scale down discounts offered [...]
SEOUL, Nov. 14 (Korea Bizwire) — The Korea Electric Power Corporation (KEPCO), a South Korean state-run utility firm, overcame three consecutive quarters in the red to finally return to profitability. It has still yet to be determined, however, if the company will be able to stay in the black this quarter. KEPCO announced on Wednesday [...]
SEOUL, Sept. 5 (Korea Bizwire) — A unit of state-run Korea Electric Power Corp. (KEPCO) said Thursday that a US$1.05 billion project to build a gas power plant in the U.S. has begun, with completion eyed for 2022. The Korea Southern Power Co. (KOSPO) will operate the 1,085-megawatt capacity gas power plant in Niles, a [...]
SEOUL, Jul. 8 (Korea Bizwire) — The Korea Electric Power Corp. (KEPCO) plans to sell stakes in its two affiliates, officials at the state-run utility company said Monday, in a bid to improve its financial status. The two affiliates are KEPCO Engineering & Construction Co. (KEPCO E&C) and Korea Electric Power Industrial Development (KEPID). In [...]
SEOUL, Feb. 4 (Korea Bizwire) — The state-run Korea Electric Power Corp. (KEPCO), which is currently seeking to open its own university in South Jeolla Province in 2022, is expected to face hurdles in opening on time amid financial and administrative challenges, industry watchers said Monday. In January, KEPCO selected the Booyoung Country Club golf [...]