OREANDA-NEWS. On 26 May 2009 was announced, that in Astana the President of KEGOC JSC, Kanat Bozumbayev, and Chief Executive Officer of KEDCO (Korea Electric Power Corporation, Republic of Korea) Ssang-Su Kim signed Memorandum of Understanding. The document provides for promotion of the exchange of information, technology, knowledge and experience in power industry.

Under the Memorandum, the cooperation of the parties will be aimed at improvement of power system reliability, reduction of losses, research and development as well as personnel training.

At the signing ceremony the head of KEGOC company, Kanat Bozumbayev, welcomed the South Korea company joining the power sector of Kazakhstan. In its turn, KEDCO CEO Ssang-Su Kim noted that the successful work experience of the company in electricity generation, transmission and distribution will be implemented in Balkhash TPP construction project.

NOTE: KEPCO has more than 120-year history, the company is carrying out electricity generation, transmission, distribution and sale. The installed generating capacity of KEPCO as of the end of 2008 made 63 529 MW. Total length of transmission lines of 66, 154, 180 (direct current), 345, 765 kV is more than 29.5 ths.km. As of 31 December 2007 the Government of the Republic of Korea, Korea Development Bank (fully owned by Korean Government) and foreign investors owned 21.12 %, 29.95 % and 27.47 % of the company shares respectively.