VEDP, Korea Electric Power Corp. announce partnership
The Virginia Economic Development Partnership has signed a memorandum of understanding with Korea Electric Power Corp. (KEPCO) to promote energy projects, Gov. Terry McAuliffe announced Thursday.
McAuliffe, who is currently leading a marketing mission to Asia and Australia, and Hwan-il Choi, president of KEPCO, signed the agreement in Seoul.
The agreement allows KEPCO, the largest electric utility company in South Korea, and Virginia to collaborate and promote information sharing, develop strategies, facilitate understanding, identify challenges and stakeholders. The agreement also will encourage organizations to participate in cooperative activities to support the energy sector.
“Virginia’s diverse energy industry covers traditional domains, such as power generation and mining, emerging Smart Grid technology and renewable fuels,” McAuliffe said in a statement. “Working with an international company like KEPCO to share and promote best energy practices will help us develop a strong partnership and will open the door to future investments in Virginia.”