KEPCO Posts Heavy Losses on Kaesong Supply

first_img KEPCO Posts Heavy Losses on Kaesong Supply AvatarDaily NKQuestions or comments about this article? Contact us at [email protected] SHARE Korea Electric Power Corporation (KEPCO) has lost more than $16 million on sales alone since it began supplying electricity to the Kaesong Industrial Complex, according to a report for the National Assembly. Lee Young Ae, a Liberty Forward Party lawmaker and member of the Knowledge Economy Committee of the National Assembly introduced the KEPCO report to the Committee, saying, “In 2005 (the first year of supplying the Complex), KEPCO booked approximately $513,000 on sales of electricity, and as of August this year, $16.2 million in total.” However, due to an inability to collect payments, most of the total is treated as a loss; $16 million as of June, 2009.Therefore, Lee added, “If nothing changes, losses will increase as the Kaesong Complex expands. Measures to protect against further losses need to be prepared as soon as possible.” By Daily NK – 2009.10.12 4:39pm News There are signs that North Korea is running into serious difficulties with its corn harvest Entire border patrol unit in North Hamgyong Province placed into quarantine following “paratyphoid” outbreak center_img Facebook Twitter News News RELATED ARTICLESMORE FROM AUTHOR News North Korea tries to accelerate building of walls and fences along border with Chinalast_img

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