South Korea's KEPCO Plans to Pre-collect ₩25 Trillion in Electricity Charges from Samsung and SK Hynix to Fund Semiconductor Power Grid Construction

BlockBeats News, September 3rd, South Korea's state-owned power company Korea Electric Power Corporation (KEPCO) is currently in talks with Samsung Electronics and SK Hynix regarding a multi-billion dollar electricity prepayment plan to raise funds for building the new semiconductor industrial cluster's required power grid.

Under the current plan, Samsung Electronics will prepay 20 trillion Korean won, SK Hynix will prepay 5 trillion Korean won, totaling 25 trillion Korean won, approximately equivalent to the electricity fees for the next five years. KEPCO stated in a release: "The large-scale electricity prepayment system is a mechanism for enterprises in urgent need of expanding the power grid to meet the needs of KEPCO, which requires investment funds. Specific details, including the prepayment amount and coverage period, have not yet been finalized." (Jinse)