State-run electricity provider Korea Electric Power Corp. Chief Executive Kim Joong-kyum said Monday in a statement that the company plans to boost the proportion of its overseas business to at least 50% from 3% currently as a way of increasing its profitability.
Kim didn’t give a specific timeframe for the company’s plans or mention what is meant by ‘business’ in this context.
Korea Electric Power, or Kepco, will broaden its business overseas in various sectors, including nuclear power, thermal power and renewables, while enhancing its technologies and expanding the company’s size through M&A activities, Kim said.
To ensure a stable supply of fuel, the company will aim to boost its self-sufficiency in sourcing fuel used for power generation by investing in foreign energy resources such as soft coal and uranium, he added.
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