Korea Electric Power
Encyclopedia
Korea Electric Power Corporation, better known as KEPCO, (한국전력공사: Hanguk Jeollyeok Gongsa) is the largest electric utility
in South Korea
,
responsible for the generation, transmission and distribution
of electricity and the development of electric power projects including those in nuclear power
, wind power
and coal
. KEPCO is responsible for 93% of Korea's electricity generation. The Korean government owns a 51% share of KEPCO. Together with its affiliates and subsidiaries, KEPCO has an installed capacity of 65,383 MW. On the 2011 Fortune Global 500
ranking of the world's largest companies, KEPCO was ranked 271. KEPCO is a member of the World Energy Council
, the World Nuclear Association
and the World Association of Nuclear Operators
. As of August 2011, KEPCO possesses an A+ credit rating with Fitch Ratings, while Moody's has assigned KEPCO an A1 stable rating. Currently located in Samseong-dong
, Seoul
, KEPCO headquarters is scheduled to relocate to the city of Naju
in South Jeolla Province in 2012. Joong-Kyum Kim is the president and CEO of KEPCO.
KEPCO was listed on the Korea Composite Stock Price Index (KOSPI)
on August 10, 1989 and later in 1994 on the New York Stock Exchange
. In 1996, KEPCO was named the prime contractor for the multinational Korean Peninsula Energy Development Organization
(KEDO) project to construct a light water reactor nuclear power plant in North Korea, a project which was eventually abandoned in 2006. Following a push by the Korean government to restructure Korea's power industry which began in the mid-1990s, the Act on the Promotion of Restructuring the Electric Power Industry was proclaimed on December 23, 2000, after which the electricity generation business was split up into Korea Hydro & Nuclear Power
, a subsidiary responsible for nuclear & hydro power generation, and five thermal power generation companies: Korea South-East Power, Korea Midland Power, Korea Western Power, Korea Southern Power, and Korea East-West Power.
and Westinghouse Electric Company
. In 2009, KEPCO won a bid to construct four units of the APR1400 reactor in the United Arab Emirates
.
. At present, KEPCO is involved in projects in 13 countries around the world. In 1996, KEPCO entered the Philippines
power market when it was awarded the contract for the refurbishment and operation of the Malaya thermal power plant. In 1996, KEPCO won the bid to construct the Ilijan gas-fired combined cycle power plant, a 1,200MW build-operate-transfer project. Today, KEPCO operates four power plants in the Philippines, including the Naga Power Plant Complex and the Cebu
Circulating Fluidized Bed Combustion Power Plant, while the company's operations account for 12% of the country's installed generation capacity.
In the area of transmission and distribution consultation, KEPCO has undertaken projects in Myanmar, Cambodia, Vietnam, Indonesia, Libya, Ukraine, Paraguay and Egypt. KEPCO entered the wind power industry in China with its involvement in the Gansu wind project, on which the first stage of construction began in 2007. KEPCO also holds an equity share in wind projects in Inner Mongolia and Riaoning, as well as in China's Shanxi
Province. In 2010, a KEPCO-led consortium including Samsung C&T
and Korean firm Techint was awarded a contract to build and operate the Norte II combined cycle gas power plant in the Mexican state of Chihuahua. In 2005, KEPCO began supplying electricity to the Kaesong Industrial Region
in North Korea
.
SA's Imouraren
uranium mine in Niger. In 2010, KEPCO signed an agreement with Areva to jointly develop uranium mines.
, begun following the announcement of Korea's National Smart Grid Roadmap in 2009. In June 2011, it was announced that KEPCO would collaborate with IBM
to build a Total Operations Center at the Jeju Smart Grid Test-Bed Demonstration Complex.
Electric utility
An electric utility is a company that engages in the generation, transmission, and distribution of electricity for sale generally in a regulated market. The electrical utility industry is a major provider of energy in most countries. It is indispensable to factories, commercial establishments,...
in South Korea
South Korea
The Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...
,
responsible for the generation, transmission and distribution
Electricity distribution
File:Electricity grid simple- North America.svg|thumb|380px|right|Simplified diagram of AC electricity distribution from generation stations to consumers...
of electricity and the development of electric power projects including those in nuclear power
Nuclear power
Nuclear power is the use of sustained nuclear fission to generate heat and electricity. Nuclear power plants provide about 6% of the world's energy and 13–14% of the world's electricity, with the U.S., France, and Japan together accounting for about 50% of nuclear generated electricity...
, wind power
Wind power
Wind power is the conversion of wind energy into a useful form of energy, such as using wind turbines to make electricity, windmills for mechanical power, windpumps for water pumping or drainage, or sails to propel ships....
and coal
Coal
Coal is a combustible black or brownish-black sedimentary rock usually occurring in rock strata in layers or veins called coal beds or coal seams. The harder forms, such as anthracite coal, can be regarded as metamorphic rock because of later exposure to elevated temperature and pressure...
. KEPCO is responsible for 93% of Korea's electricity generation. The Korean government owns a 51% share of KEPCO. Together with its affiliates and subsidiaries, KEPCO has an installed capacity of 65,383 MW. On the 2011 Fortune Global 500
Fortune Global 500
The Fortune Global 500 is a ranking of the top 500 corporations worldwide as measured by revenue. The list is compiled and published annually by Fortune magazine....
ranking of the world's largest companies, KEPCO was ranked 271. KEPCO is a member of the World Energy Council
World Energy Council
The World Energy Council is a global and inclusive forum for thought-leadership and tangible engagement with headquarters in London. Its mission is 'To promote the sustainable supply and use of energy for the greatest benefit of all people'....
, the World Nuclear Association
World Nuclear Association
The World Nuclear Association , formerly the Uranium Institute, is an international organization that promotes nuclear power and supports the many companies that comprise the global nuclear industry...
and the World Association of Nuclear Operators
World Association of Nuclear Operators
The World Association of Nuclear Operators is an international organisation founded in 1989 after the Chernobyl accident to foster international cooperation and professional excellence within the nuclear industry...
. As of August 2011, KEPCO possesses an A+ credit rating with Fitch Ratings, while Moody's has assigned KEPCO an A1 stable rating. Currently located in Samseong-dong
Samseong-dong
Samseong-Dong is a ward of Gangnam-gu in Seoul, South Korea.-See also:*COEX Convention & Exhibition Center*POSCO*Bongeunsa*Dong of Gangnam-gu*Kimchi Field Museum-External links:...
, Seoul
Seoul
Seoul , officially the Seoul Special City, is the capital and largest metropolis of South Korea. A megacity with a population of over 10 million, it is the largest city proper in the OECD developed world...
, KEPCO headquarters is scheduled to relocate to the city of Naju
Naju
Naju is a city in South Jeolla Province, South Korea.The capital of South Jeolla was located at Naju until it was moved to Gwangju in 1895. The name Jeolla actually originates from the first character of Jeonju and the first character of Naju . Dongshin University is situated in Naju...
in South Jeolla Province in 2012. Joong-Kyum Kim is the president and CEO of KEPCO.
History
KEPCO traces its origins to Hanseong Jeongi Hoesa (Seoul Electric Company), founded in 1898 during Korean Empire period. The announcement of the Chosun Electricity Control Decree by the Colonial Korean government in March 1943 saw the integration of several electric companies into the Korea Electric Power Company. The Korea Electric Company (KECO), established through the integration of the Korea Electric Power Company and two distribution companies, Gyeongsung Electric Company and South Korea Electric Company, opened on July 1, 1961. In 1982, KECO became a wholly government owned entity and was renamed the Korea Electric Power Corporation (KEPCO).KEPCO was listed on the Korea Composite Stock Price Index (KOSPI)
KOSPI
The Korea Composite Stock Price Index or KOSPI is the index of all common stocks traded on the Stock Market Division—previously, Korea Stock Exchange—of the Korea Exchange....
on August 10, 1989 and later in 1994 on the New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
. In 1996, KEPCO was named the prime contractor for the multinational Korean Peninsula Energy Development Organization
Korean Peninsula Energy Development Organization
The Korean Peninsula Energy Development Organization is an organization founded on March 15, 1995 by the United States, South Korea, and Japan to implement the 1994 U.S.-North Korea Agreed Framework that froze North Korea's indigenous nuclear power plant development centered at the Yongbyon...
(KEDO) project to construct a light water reactor nuclear power plant in North Korea, a project which was eventually abandoned in 2006. Following a push by the Korean government to restructure Korea's power industry which began in the mid-1990s, the Act on the Promotion of Restructuring the Electric Power Industry was proclaimed on December 23, 2000, after which the electricity generation business was split up into Korea Hydro & Nuclear Power
Korea Hydro & Nuclear Power
Korea Hydro & Nuclear Power is a subsidiary of the Korea Electric Power Corporation . It operates large nuclear and hydroelectric plants in South Korea, which are responsible for about 40% of the country's electric power supply...
, a subsidiary responsible for nuclear & hydro power generation, and five thermal power generation companies: Korea South-East Power, Korea Midland Power, Korea Western Power, Korea Southern Power, and Korea East-West Power.
Subsidiaries
KEPCO is comprised of six power generation companies and four subsidiaries in related business areas. It also owns a stake in four affiliated companies.Power generation companies
- Korea Hydro & Nuclear Power (KHNP): operates 21 nuclear power plants and 27 hydropower plants in Korea which account for 18,265 MW in total capacity (as of Dec. 2010).
- Korea South-East Power (KOSEP): with 8,976 MW in total capacity (as of Dec. 2010), KOSEP operates the Samcheonpo Thermal Power Site Division and the Yeongheung Thermal Power Plant.
- Korea Midland Power (KOMIPO): operates the Boryeong Thermalelectric Power Plant Site Division and the Yeongheung Thermal Power Plant, and possesses 9,399 MW in total installed capacity (as of Dec. 2010).
- Korea Western Power: operates the Taean Thermal Power Plant and manages a total installed capacity of 9,604 MW via 8 soft coal-fired units, 24 LNG combined cycle units, 4 oil-fired units and 4 pumped storage power plant units.
- Korea Southern Power: operates the Hadong Thermal Power Site Division and manages 9,638 MW in total installed capacity as of Dec. 2010.
- Korea East-West Power: operates the Dangjin and Honam Coal Fired Power Plants, and manages a total of 9,510 MW in installed capacity as of Dec. 2010.
Other subsidiaries
- KEPCO E&CKEPCO E&CKEPCO E&C was established in 1975 as a public enterprise to realize independence in Korea's nuclear power design technology. KEPCO E&C engages in designing, engineering, and constructing nuclear and fossil power plants...
: KEPCO Engineering & Construction (KEPCO E&C) is a comprehensive engineering company which develops and designs nuclear and thermal power plants. KEPCO owns a 77.94% share of KEPCO E&C. - Korea Nuclear FuelKorea Nuclear FuelKorea Nuclear Fuel or KNF is a South Korean public enterprise established in 1982 to provide high quality nuclear fuel. It provides nuclear fuels to 20 nuclear power plants in South Korea. The price of the nuclear fuel provided by the company accounts for 60% of the average international price....
(KNF): Korea Nuclear Fuel specializes in the design and manufacture of nuclear fuel, as well as fuel engineering services. KNF is the world's only producer of nuclear fuel for both light-water (LWR) and heavy water (HWR) reactors. KEPCO's share of KNF stands at 96.4%. - Korea Plant Service & EngineeringKorea Plant Service & EngineeringKorea Plant Service & Engineering or KPS is a South Korean public enterprise established in 1974 to provide electronic power and industrial facilities...
: Korea Plant Service & Engineering is 75% owned by KEPCO. It provides maintenance services for Korea's power generation, transmission, transformation and industrial facilities. - Korea Electric Power Data Network: 100% wholly owned by KEPCO, Korea Electric Power Data Network provides ITInformation technologyInformation technology is the acquisition, processing, storage and dissemination of vocal, pictorial, textual and numerical information by a microelectronics-based combination of computing and telecommunications...
services covering the full range of electric power from generation and transmission to distribution and sales.
Affiliated companies
- Korea Electric Power Industrial Development Corporation
- Korea Gas CorporationKorea Gas CorporationKorea Gas Corporation is the public natural gas company and it was established by the Korean government in 1983. KOGAS has now grown to become the largest LNG import company in the world and operates three LNG regasification terminals and 2,721 km of natural gas pipelines in South Korea.-External...
- Korea District Heating Corporation
- LG UPlus Corporation
Domestic activities
In Korea, KEPCO primarily provides electricity to include industrial, commercial, residential, educational and agricultural customers. As of December 31, 2010, KEPCO had a total installed generating capacity of 65,559MW produced by 487 generation units including nuclear, oil, coal, liquified natural gas, hydro, wind and solar sources. The length of KEPCO's transmission lines stood at 30,676 circuit kilometers as of end-2010.Nuclear business
KEPCO's involvement in the nuclear energy sector ranges from design and engineering of the nuclear power plant to nuclear fuel, commissioning and operation, maintenance and decommissioning. Construction of KEPCO nuclear power plants is undertaken by major Korean construction companies, while the manufacture of key elements of a nuclear power plant is done by companies including Doosan Heavy Industries & ConstructionDoosan Heavy Industries & Construction
Doosan Heavy Industries & Construction Co., Ltd., a subsidiary of Doosan Group, is one of the largest Korean heavy industrial companies. It was established in 1962....
and Westinghouse Electric Company
Westinghouse Electric Company
Westinghouse Electric Company LLC is a nuclear power company, offering a wide range of nuclear products and services to utilities throughout the world, including nuclear fuel, service and maintenance, instrumentation and control and advanced nuclear plant designs...
. In 2009, KEPCO won a bid to construct four units of the APR1400 reactor in the United Arab Emirates
United Arab Emirates
The United Arab Emirates, abbreviated as the UAE, or shortened to "the Emirates", is a state situated in the southeast of the Arabian Peninsula in Western Asia on the Persian Gulf, bordering Oman, and Saudi Arabia, and sharing sea borders with Iraq, Kuwait, Bahrain, Qatar, and Iran.The UAE is a...
.
Overseas activities
KEPCO's overseas forays started in 1993 when the company was awarded a technical consulting contract for maintenance on the Guangdong nuclear power plant in ChinaChina
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
. At present, KEPCO is involved in projects in 13 countries around the world. In 1996, KEPCO entered the Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...
power market when it was awarded the contract for the refurbishment and operation of the Malaya thermal power plant. In 1996, KEPCO won the bid to construct the Ilijan gas-fired combined cycle power plant, a 1,200MW build-operate-transfer project. Today, KEPCO operates four power plants in the Philippines, including the Naga Power Plant Complex and the Cebu
Cebu
Cebu is a province in the Philippines, consisting of Cebu Island and 167 surrounding islands. It is located to the east of Negros, to the west of Leyte and Bohol islands...
Circulating Fluidized Bed Combustion Power Plant, while the company's operations account for 12% of the country's installed generation capacity.
In the area of transmission and distribution consultation, KEPCO has undertaken projects in Myanmar, Cambodia, Vietnam, Indonesia, Libya, Ukraine, Paraguay and Egypt. KEPCO entered the wind power industry in China with its involvement in the Gansu wind project, on which the first stage of construction began in 2007. KEPCO also holds an equity share in wind projects in Inner Mongolia and Riaoning, as well as in China's Shanxi
Shanxi
' is a province in Northern China. Its one-character abbreviation is "晋" , after the state of Jin that existed here during the Spring and Autumn Period....
Province. In 2010, a KEPCO-led consortium including Samsung C&T
Samsung C&T Corporation
Samsung C&T Corporation , established in 1938, is the origin of Samsung Group and currently consists of Engineering & Construction Group and Trading & Investment Group...
and Korean firm Techint was awarded a contract to build and operate the Norte II combined cycle gas power plant in the Mexican state of Chihuahua. In 2005, KEPCO began supplying electricity to the Kaesong Industrial Region
Kaesong Industrial Region
Kaesŏng Industrial Region is a special administrative industrial region of North Korea. It was formed in 2002 from part of Kaesŏng Directly Governed City.-Kaesŏng Industrial Park:...
in North Korea
North Korea
The Democratic People’s Republic of Korea , , is a country in East Asia, occupying the northern half of the Korean Peninsula. Its capital and largest city is Pyongyang. The Korean Demilitarized Zone serves as the buffer zone between North Korea and South Korea...
.
Resources development
In order to raise its fuel self-sufficiency rate to 60% by 2020, in 2010, KEPCO acquired the Bylong Coal Mine in Australia from Anglo American PLC. Also in 2010, KEPCO bought a 20% stake in Bayan Resources in Indonesia, thus allowing the company to raise its coal self-sufficiency rate by 7 million tons annually from 2015. In 2009, KEPCO bought a 1.5% stake in Indonesia's Adaro Energy, thus securing 3 million tons of coal annually. Regarding uranium procurement, in 2009, KEPCO acquired a 17% share of Denison Mines Corp. in Canada, as well as a 10% stake in ArevaAreva
AREVA is a French public multinational industrial conglomerate headquartered in the Tour Areva in Courbevoie, Paris. AREVA is mainly known for nuclear power; it also has interests in other energy projects. It was created on 3 September 2001, by the merger of Framatome , Cogema and...
SA's Imouraren
Imourarene
Imourarene is a town and commune in the Arlit Department of the Agadez Region of northern-central Niger. It is the site of a uranium mining project involving French company Areva and the state of Niger.-External links:*...
uranium mine in Niger. In 2010, KEPCO signed an agreement with Areva to jointly develop uranium mines.
Smart grid
In early 2010, KEPCO announced it would invest over US$7 billion in its smart grid business by 2030 to make electricity distribution more efficient and decrease Korea's greenhouse gas emissions. KEPCO is one of the 168 Korean and foreign companies taking part in the Jeju Smart Grid Demonstration ProjectJeju Smart Grid Demonstration Project in Korea
The most noticeable plan in South Korea’s smart grid project is the construction of a Smart Grid Testbed on Jeju Island. The South Korean government selected Jeju, in June 2009, as the Smart Grid Test-bed, and broke ground in August 2009. Testbed is the very proof of a Smart Grid, the basis for a...
, begun following the announcement of Korea's National Smart Grid Roadmap in 2009. In June 2011, it was announced that KEPCO would collaborate with IBM
IBM
International Business Machines Corporation or IBM is an American multinational technology and consulting corporation headquartered in Armonk, New York, United States. IBM manufactures and sells computer hardware and software, and it offers infrastructure, hosting and consulting services in areas...
to build a Total Operations Center at the Jeju Smart Grid Test-Bed Demonstration Complex.
See also
- Energy in South KoreaEnergy in South KoreaEnergy in South Korea describes energy and electricity production, consumption and import in South Korea. Energy policy of South Korea will describe the politics of South Korea related to energy more in detail. Electricity sector in South Korea will be the main article of electricity in South...
- Nuclear power in South KoreaNuclear power in South KoreaThe total electrical generation capacity of the nuclear power plants of South Korea is 18.5 GWe from 21 reactors. This is 29.5% of South Korea's total electrical generation capacity, but 45% of total electrical consumption...
- Smart grids in South KoreaSmart grids in South KoreaThe South Korean government announced its CO2 reduction target for 2020. The target represents a 30% reduction from the estimated level of 2020. This goal is deemed very challenging since Korean industry had doubled its greenhouse gas emissions between 1990 and 2005, the fastest growth in the...
- Jeju Smart Grid Demonstration Project in KoreaJeju Smart Grid Demonstration Project in KoreaThe most noticeable plan in South Korea’s smart grid project is the construction of a Smart Grid Testbed on Jeju Island. The South Korean government selected Jeju, in June 2009, as the Smart Grid Test-bed, and broke ground in August 2009. Testbed is the very proof of a Smart Grid, the basis for a...
- Economy of South KoreaEconomy of South KoreaSouth Korea has a market economy which ranks 15th in the world by nominal GDP and 12th by purchasing power parity , identifying it as one of the G-20 major economies. It is a high-income developed country, with a developed market, and is a member of OECD...
- Environment of South KoreaEnvironment of South KoreaThe environment of South Korea is the natural environment of the South Korean nation, which occupies the southern half of the Korean peninsula.-Flora and fauna:...
- Lists of public utilities
- List of Korea-related topics