South Korea Begins to Push for More Dominance in Nuclear Power

TOKYO, JAPAN--September 27, 2010--Researched by Industrial Info Resources (Sugar Land, Texas)--Until 2001, Korea Electric Power Corporation (NYSE:KEP) (KEPCO) (Seoul, South Korea) held an absolute monopoly on electricity generation in South Korea. In a move to introduce competition to the South Korean market, KEPCO was divided into six spin-off subsidiaries. Korea Hydro and Nuclear Power Company Limited (KHNP) (Seoul) took on the nuclear segment of KEPCO, along with the majority of the company's hydroelectric power projects. In 2004, South Korea and Indonesia signed a memorandum of understanding and began advanced preparation for Indonesia's first nuclear project.