KEPCO to set up joint venture with German company

SEOUL, April 14 (Yonhap) -- Korea Electric Power Corp. (KEPCO), South Korea's state-run power company, said Thursday that it has signed a deal with the German engineering firm Uhde to set up a joint venture.
Under the deal, the joint venture named KEPCO-Uhde Inc. will be established in South Korea in July, KEPCO said in a statement.
KEPCO said it will have a 66 percent stake in the joint venture.
The joint venture will engage in such sectors as integrated gasification combined cycle (IGCC) and synthetic natural gas (SNG), KEPCO said.
IGCC is a technology that turns coal into gas, while SNG is a mixture of petroleum hydrocarbon gases with properties similar to those of natural gas.
ksnam@yna.co.kr