South Korea
South Korea plans to merge its five state-owned power generation companies—KOEN, KOMIPO, KOWEPO, KOSPO and EWP—into a single KEPCO subsidiary by October 1, 2027.
The five Gencos operate around 53 GW of generation capacity. The merger aims to improve operational efficiency while accelerating the country’s energy and just transition. Headquarters staffing will be reduced from around 2,400 to 1,800, with approximately 600 employees redeployed to new regional renewable energy divisions focused on solar and wind development.
The government plans special legislation to facilitate the merger and expects to complete corporate registration and executive appointments in September 2027, ahead of the official launch in October.
