Park Jin-hai primarily focuses on K-dramas, entertainment shows and actor interviews. Beyond that, she also pens articles covering the broader arts scene, with a particular emphasis on classical music, dance and various aspects of lifestyle. Since joining The Korea Times in 2013, she has made significant contributions in the realms of hallyu (Korean wave), industry news and international affairs.
KEPCO, Maryland agree to cooperate on new energy sector
KEPCO CEO Cho Hwan-eik, left, shakes hands with Michael Gill, Maryland secretary of commerce, after signing an energy development agreement in Annapolis, Thursday. / Courtesy of KEPCO
By Park Jin-hai
By Park Jin-hai
Korea Electric Power Corp has reached an agreement with the U.S. state of Maryland to work together developing the new energy sector.
Under the pact, signed in Annapolis on Thursday, the two agreed to cooperate on smart grids, smart city development, advanced metering, energy storage systems and recharging infrastructure for electric vehicles, the company said Friday.
It is the first time a Korean company has entered into an agreement with a U.S. state in the energy field.
Maryland has large-scale electricity infrastructure, KEPCO said, adding the state is keen to improve its overall energy efficiency, update old power grids into smart grids and establish energy storage capacity.
The company expects the partnership to put it in a good position for future state projects.
"The (agreement) is an important starting point for future sustainable energy cooperation between Korea and Maryland," KEPCO CEO Cho Hwan-eik said after signing the pact.
The power company has been making inroads into other countries in the new energy sector, exporting 13 billion won of smart grid technology in July to Canada’s PowerStream.
“With the (pact), we have secured the launch pad to the U.S. market, which is estimated at 3 trillion won and takes nearly a quarter of the global new energy market,” a company official said.
The state-run power company is part of the entrepreneur delegation accompanying President Park Geun-hye on her U.S. visit.
During the visit, KEPCO has closed three other agreements to promote new energy fields with General Electric, Southern Company and Beowulf Energy.