'Public Energy Company CEO Club'

CEOs of five public energy companies inaugurate a forum to promote cooperation in development of overseas resources.

The CEOs of five public energy companies, including Korea Electric Power Co. (KEPCO) have created a forum designed to discuss strategies to explore overseas markets.
Lee Won-gul, Chairman-CEO of KEPCO, presided over the inaugural meeting to establish the forum, dubbed "public Energy Company CEO Club,"held at the COEX InterContinental Hotel in Samseong-dong, downtown Seoul, on May 9. Also in attendance were Hwang Doo-yul, president-CEO of Korea National Oil Corp., Lee Hang-ho, president-CEO of Korea Resources Corp., Lee Byung-ho, vice president of Korea Gas Corp., Kim Young-nam, president-CEO of Korea District Heating Co. as well as Vice Minister for Energy Lee Jae-hoon, whose participation represented the government's profound concern and willingness regarding the development of overseas resources.
The participants discussed ways of promoting cooperation over overseas resources development projects now being pursued in countries of Australia and Mongolia. They decided to actively collaborate in overseas projects across the energy sector as gas reserve blocks, petroleum mining zones and cycle-combined cycle power plant projects in the years to come.
Concerning the reason why the forum was created, KEPCO Chairman Lee said, "It is necessary for us to adopt a win-win strategy in which we obtain our profits in exchange for providing support to projects which nations who have business ties with us want."The CEOs of the Public Energy companies CEO Club will hold a quarterly meeting, designed to exchange information concerning the development of overseas resources and discuss the details of ways of promoting cooperation about the pending issues, which will be presided over by each member company on a rotational basis. nw

The CEOs and representatives of five public energy companies, including KEPCO CEO Lee Won-gul, are in attendance in an inaugural meeting of the "Public Energy Company CEP Club.