KEPCO to Embark on Selling its Electric Generating Plant

The Korea Electric Power Co.(KEPCO) is going to embark on selling its subsidiary electric generating plant, selecting advisory companies on the sale from April 24.
According to the Ministry of Commerce, Industry and Energy (MOCIE), KEPCO plans to select and announce advisory companies in three categories; finance, law, and technology. The selection of a lead company, in charge of bidding for the electric plant, is almost complete.
More than 30 financial and legal companies, located here and abroad, including renowned JP Morgan, Arthur Anderson Consulting Co., recently participated in the evaluation.
The MOCIE will decide a proposal to separate the electric generating plant division of KEPCO into six subsidiary companies and to sell them by July 1999. After the division MOCIE will conduct a real survey of the six separated companies and establish the subsidiary companies for three months.
MOCIE plans to sell one of the six companies by way of international bid.
The sale price of KEPCO's subsidiary is estimated to be the highest price paid for a public utility in Korean history, because the total assets of KEPCO reached almost 58 trillion won( about 50 billion dollars)
Jangsoo Seo:jsbee@joongang.co.kr