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S. Korea’s Public Energy Companies to Make Further Restructuring Efforts

S. Korea’s Public Energy Companies to Make Further Restructuring Efforts

SEJONG, March 7 (Korea Bizwire) – South Korea’s state-run energy resource companies will move forward with their restructuring efforts this year as part of the government-led plan to streamline operations in the midst of low global oil prices, the commerce ministry said Tuesday.  At a meeting convened by the Ministry of Trade, Industry and Energy [...]

State Energy Firms Lose 3 Tln Won in Foreign Projects

State Energy Firms Lose 3 Tln Won in Foreign Projects

SEOUL, April 3 (Korea Bizwire) — Three South Korean state-run energy companies have suffered billions of dollars in losses from overseas resources development projects since 2003, the state audit agency said Friday. The outcome by the Board of Audit and Inspection of Korea (BAI) comes as prosecutors are probing several local firms for alleged embezzlement [...]