New consolidated energy firm to launch in Oct. 2027: climate ministry
SEOUL, Sept. 4 (Yonhap) -- The government said Friday it plans to launch a new c...
The South Korean government has announced plans to launch a new consolidated power generation company in October 2027, as part of its initiative to streamline state-run businesses and improve their efficiency. The government aims to merge and restructure five existing state-run power generators into a single entity, reducing the total number of state-run firms from 524 to 415.
The new consolidated entity will have four divisions covering renewable energy, a just energy transition, safety technology, and planning and management, with a workforce of 1,800 employees. The government also intends to seek measures to exempt the merger from a review by the Fair Trade Commission, making the new company the world's 14th-largest power generator with a generation capacity of 53 gigawatts.
Brief written by urgent.news from Yonhap News's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
