Power sector reforms and restructuring in Korea

The Korean electric power industry is changing structurally in step with the global trend toward deregulation and privatization. Free market principles are being introduced into the power market. Staged introduction of electricity supply industry in Korea has been planned and as a first phase of generation competition, cost-base pool is now in operation with divided generation subsidiaries of KEPCO. Although tremendous efforts and funds have been invested for the next wholesale market preparation, still more discussions and studies are required for successful electricity market operation.