Korea Electric Power Corp. (KEPCO) has signed an agreement with Korea Overseas Infrastructure and Urban Development Corp. (KIND) to expand business overseas and help Korean construction companies carry out overseas EPC (engineering, procurement, construction) projects.
KIND is a state-run corporation established in June this year to help Korean companies, such as KEPCO, undertake overseas projects under the public-private partnership (PPP) arrangement.
KEPCO and KIND agreed to cooperate with each other in exchanging information on overseas markets, developing joint projects, and strengthening financial partnerships.
“KIND will reduce the financial risk of overseas projects and make it easier for KEPCO to enter overseas markets with Korean generator manufacturers,” said Kim Jong-kap, president of KEPCO. “We will work hard to move into overseas markets with KIND to overcome the limits of the small domestic market."
"With cooperation with KEPCO, KIND can secure opportunities to invest in overseas power plant projects and help domestic construction companies participate in overseas EPC projects," said KIND president Hur Kyong-goo.