The Korea Herald


Korea’s electricity industry seeks export expansion

By Ahn Sung-mi

Published : July 8, 2016 - 17:56

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[THE INVESTOR] South Korea’s electricity industry aims to increase the amount of exports to US$ 15 billion by end of this year, the state-run corporation said on July 8.

The Korea Electric Power Corporation held a conference in Seoul to announce its plans and strategies to expand its presence internationally. Over 200 industry officials from major companies such as POSCO, Korea Trade-Investment Promotion Agency and Korea Hydro and Nuclear Power Corporation attended the event. 

The electricity export volume peaked in 2013 with US$ 14.9 billion and has been declining since then, with US$ 14.3 billion in 2013 and US$ 14 billion in 2015.

Under KEPCO’s plan to facilitate exports, the company will double the investment in research and development of its affiliated companies from 1 billion won (US$ 863,530) to 2 billion won. It also plans to create an online data service e-Market Hub, in association with the state-run KOTRA, providing corporations with information on the electricity market in other countries.

The electricity corporation also plans to inject 20 billion won to nurture 100 new start-ups.

“The mechanism of electricity industry is changing in the age of competition,” Cho Hwan-ik, KEPCO CEO said. “But these challenges can pose new opportunities. We will keep promoting exports in the electricity industry.”

By Ahn Sung-mi (