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Kepco lays groundwork to enter energy markets in CIS countries

South Korea’s state-run utility provider Korea Electric Power Corp. on Wednesday held the Korea-Kazakhstan Energy Forum to discuss future cooperation, the company said Thursday.

Kepco CEO Cho Hwan-eik and Korea Trade-Investment Promotion Agency CEO Kim Jae-hong participated in the event, along with 150 other attendees including government officials and experts. They discussed current trends and joint business opportunities in the energy industry.

Kepco CEO Cho Hwan-eik delivers a speech at the company‘s first international business forum in Kazakhstan on Wednesday. (Kepco)
Kepco CEO Cho Hwan-eik delivers a speech at the company‘s first international business forum in Kazakhstan on Wednesday. (Kepco)

Korea’s Doowon Cable and 17 other small and midsized companies joined the forum and held meetings with 72 Kazakhstan-based businesses seeking partnerships.

Meanwhile, Kepco on Thursday signed a memorandum of understanding with Kazakhstan’s largest private electricity provider Caepco to push ahead with their joint business.

Kepco will aim to export the company’s renewable energy technology to Kazakhstan, where renewables are expected to account for some 50 percent of electricity generation by 2050, if completed as planned by the country’s government, the company said.

On the following day, Kepco is also to ink another memorandum with Uzbekistan’s state-run electricity provider Uzbekenergo.

Uzbekistan’s utility provider expressed hopes to cooperate with Kepco in developing electricity infrastructure, a Kepco official said.

By Shim Woo-hyun (ws@heraldcorp.com)

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