South Korean Companies Adapt to New Power Plan

TOKYO, JAPAN--October 5, 2010--Researched by Industrial Info Resources (Sugar Land, Texas)--As part of a new power plan introduced by the Ministry of Knowledge Economy (MKE) (Gwacheon, South Korea) early last year, South Korea intends to reduce the amount of power generated by natural gas from the current 20% to nearly 5% by 2022. The power plan also involves building a mix of 31 nuclear and thermal power plants between now and then, all while significantly increasing the amount of renewable energy-generating facilities. As of 2007, South Korea was the second-largest importer of natural gas, behind Japan. At the time, South Korea was importing more than 20 million metric tons per year from leading sources like Qatar, Indonesia, Malaysia and Oman.

Other companies featured: Korea Electric Power Corporation (NYSE:KEP), POSCO (NYSE:PKX)