Minister of Climate, Environment and Energy Kim Sung-hwan [Yonhap]
Minister of Climate, Environment and Energy Kim Sung-hwan [Yonhap]

Korea Electric Power Corporation held a launch ceremony Friday morning for Kepco Technology Holdings, a wholly owned subsidiary dedicated to commercializing energy technology, at Kepco's headquarters in Naju, South Jeolla Province.

Kepco Technology Holdings will transfer more than 8,000 patents held by Kepco, along with promising technologies from Korea Energy University and other institutions, to startups and other companies for commercialization. The new entity plans to make direct investments in early-stage companies and support their growth through a scale-up fund as they mature.

The holding company will also help businesses expand by providing access to Kepco's energy infrastructure and data for demonstration projects, securing domestic distribution channels, and supporting entry into overseas markets — forming what officials described as a "complete growth system."

At the launch ceremony, Kepco Technology Holdings, Kepco, Korea Development Bank, Industrial Bank of Korea and six other investment institutions signed an investment alliance MOU aimed at building an ecosystem for investment in new energy industries.

Kepco also signed separate MOUs with seven domestic solar inverter manufacturers on strengthening the competitiveness of the domestic solar inverter industry, and with three power equipment manufacturers — LS Electric, Hyosung Heavy Industries and HD Hyundai Electric — on attracting direct-current industry investment and establishing an industrial hub in Naju. The participating companies plan to build a DC industry base in Naju and cooperate on research and development, corporate investment, demonstration projects and commercialization.

Under the investment alliance MOU, Kepco, Kepco Technology Holdings and the 10 investment institutions will jointly identify promising technologies and companies in the new energy industry and establish a framework for co-investment by private investors. The 10 institutions are Korea Development Bank, Industrial Bank of Korea, Korea Investment Partners, IMM Investment, LB Investment, Stonebridge Ventures, Pureun Investment, Korea Science and Technology Holdings, ETRI Holdings and Sopoong Ventures.

"Kepco Technology Holdings must become a growth platform that connects publicly accumulated technology to the market and develops companies' ideas into new industries," Minister of Climate, Environment and Energy Kim Sung-hwan said. "I hope that unicorn companies will emerge in Korea's energy sector and that a solid foundation will be laid for South Korea to lead the global energy and green industries."


oskymoon@heraldcorp.com