B · Normal
[South Korea plans major reforms to state-owned energy companies] On September 3, South Korea announced a major restructuring of state-owned energy and transportation companies. The move is part of a broader reform of public institutions aimed at reducing costs and improving competitiveness. A statement released by the South Korean government on Thursday said Korea National Oil Corp. and Korea Gas Corp. will merge. In addition, five KEPCO subsidiaries will be merged, Korea Coal Corporation will be liquidated, and four regional port authorities will also be merged.
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