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KEPCO Selected as Preferred Bidder for Nuclear Plant in UK

SEOUL, Dec. 6 (Korea Bizwire) – South Korea’s state-run utility firm Korea Electric Power Corp. was selected as the preferred bidder in a project to build a nuclear power plant in Britain, sources said Wednesday. Toshiba Corp., which has a 60 percent stake in the NuGen consortium in charge of building the nuclear power plant in Cumbria, northwest England, plans to announce soon that KEPCO has become the preferred bidder, according to industry insiders, who wanted to remain anonymous. Still, a KEPCO official said he is [...]

S. Korea Plans IPOs for 8 Public Energy Firms by 2020

SEOUL, Dec. 8 (Korea Bizwire) – South Korea said Thursday that it will gradually complete initial public offerings (IPOs) for eight public energy companies by 2020 to help improve their financial status. The eight firms are Korea South-East Power Co., Korea Southern Power Co., Korea East-West Power Co., Korea Western Power Co., Korea Midland Power [...]

Gov’t to Lower Public Firms’ Debt Ratio to 150 Pct by 2020

SEJONG, Sept. 1 (Korea Bizwire) – The South Korean government will reduce the debt ratio of public corporations to around 150 percent by 2020 as part of its efforts to improve the balance sheets of state-funded agencies, the finance ministry said Thursday. Under a long-term financial management plan, 39 public firms, including the Korea Gas [...]

Korea Hydro & Nuclear Power under Fire for Lax Data Security

SEOUL, Dec. 22 (Korea Bizwire) — Korea Hydro & Nuclear Power, a subsidiary of Korea Electric Power Corp. responsible for operation of nuclear and hydroelectric power plants, has insisted that the internal documents it was stolen by hackers were nothing important. But it is still unable to find out how the documents were leaked out [...]

K-Water Begins Running Philippines’ Angat Dam

SEOUL, Nov. 1 (Korea Bizwire) – Korea Water Resources Corp. (K-Water) took the operational control of Angat Dam in the Philippines and began its operation on October 31. It is the first instance for a Korean firm to run an overseas dam. Located 58 kilometers northeast of Metro Manila, the multi-purpose dam has a hydroelectric power [...]

Hyundai Outpaces Samsung to Win KEPCO’s Property Auction Placing over $10 billion

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, [...]

LG Uplus to Equip Its New IDC with Korea’s First “Intelligent Demand Response System”

SEOUL, July 29 (Korea Bizwire) – LG Uplus said on July 28 that the Uplus P Center that it is building in Pyungchon, a town in the southern outskirts of Seoul, would be equipped with the intelligent demand response system, the first among the nation’s commercial Internet data centers. An intelligent demand response system is a system that [...]