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 [...]
SEOUL, Jan. 28 (Korea Bizwire) — The state-run Korea Electric Power Corp. (KEPCO) said Monday it has selected South Jeolla Province as the site for its planned engineering university. KEPCO earlier said it was considering building its own university in either South Jeolla Province or the southeastern city of Gwangju, located 329 kilometers from Seoul. [...]
SEOUL, Oct. 15 (Korea Bizwire) — The value of stocks that the Korea Electric Power Corporation (KEPCO) accepted from other firms in lieu of payment for electric bills were found to have fallen sharply, incurring losses totaling 11.6 billion won. According to data submitted by KEPCO to lawmaker Eoh Kiy-ku of the Democratic Party, who [...]
SEOUL, Jul. 10 (Korea Bizwire) — The state-run Korea Power Electric Corp. (KEPCO) said Tuesday it will beef up technology cooperation with India’s state-run power company for renewable energy projects as it strives to make inroads into the vast market. KEPCO signed a memorandum of cooperation with Power Grid Corporation of India Ltd.(PGCIL) during a [...]