KEPCO Teams up with GE Energy
in Bid to Enter Overseas Market

The CEOs of KEPCO & GE ink an MOU on collaboration in overseas power projects

Korea Electric Power Corp. has signed an MOU on a joint entry into overseas markets with GE Energy. KEPCO Chairman-CEO Lee Won-gul and his counterpart GE Energy President James Suciu inked the agreement at the Fairmont Hotel in San Francisco on Aug. 7.
Under the agreement, KEPCO and GE Energy agreed to strengthen collaboration between the two companies on the implementation of new overseas projects as well as ongoing ones. Within the next two months, the two decided to determine the details of the joint projects they plan to carry out.
In his meeting with GE President Suciu, KEPCO CEO Lee touched on his company's willingness to enter the American power industry, one of the world's most advanced markets. Lee proposed to GE Energy their joint push for a business model of combining GE's capabilities to supply power generation equipment and materials and KEPCO's capabilities on the construction, operation and maintenance of power plants.
The presidents of KEPCO and GE Energy discussed KEPCO's way to participate in the construction, operation and maintenance of power plants furnished with GE-supplied equipment and M&As.
They also exchanged views on KEPCO's plan to acquire gas turbine and combined-cycle power plants that have been built with GE-supplied equipment, but suffer operational difficulties.
Cashing in on close cooperative ties it is building up with GE, KEPCO plans to accelerate its bid to strengthen its presence in overseas markets with a focus shifting from the existing markets -Asia and Africa - to European and American markets, according to KEPCO officials. nw

KEPCO Chairman-CEO Lee Won-gul shakes hands with GE Energy President James Suciu after sighed an MOU on a joint entry into overseas markets in San Francisco on Aug. 7.