Korea’s largest power company plans to ramp up exports to as much as half of its business, from 3 percent now.
Korean Electric Power Co. CEO Kim Joong-kyum announced the move in a statement Monday, without giving specifics or a timeframe. He said the company intends to grow through merger activities and broadened business in sectors that include nuclear and other types of power generation. The release, summarized by Marketwatch, also said the state-controlled company will improve self sufficiency in fuel for power generation by investing in coal and uranium deposits abroad.
KEPCO won a 2009 bid to build four of its APR1400 pressurized water reactors in the United Arab Emirates. In addition to that $18.6 billion contract, a KEPCO spokesman told Korea’s Industry and Technology Times that it also plans to export nuclear technology to Egypt, South Africa, Vietnam, India, Turkey, Malaysia, Kuwait, Saudi Arabia and Thailand.