South Korea's state-owned utility KEPCO is negotiating with Samsung Electronics and SK Hynix over a multi-billion-dollar electricity prepayment plan to fund power grid construction for a new semiconductor cluster. Samsung would prepay 20 trillion won and SK Hynix 5 trillion won, totaling 25 trillion won, equivalent to about five years of electricity bills, according to a proposal. KEPCO stated the mechanism allows companies needing grid expansion and the utility requiring investment funds to meet each other's needs. Final details are pending.
According to ChainCatcher, South Korea's state-owned power utility Korea Electric Power Corporation (KEPCO) is in talks with Samsung Electronics and SK Hynix over a multi-billion-dollar electricity prepayment plan to raise funds for building power grids needed for a new semiconductor cluster.
Under the current proposal, Samsung would prepay 20 trillion won, and SK Hynix would prepay 5 trillion won, totaling 25 trillion won, roughly equivalent to five years of electricity bills. KEPCO said in a statement that the large-scale prepayment system is a mechanism that allows companies urgently needing grid expansion and KEPCO, which requires investment capital, to mutually satisfy each other's needs. Specific details, including the exact amount and coverage period, have yet to be finalized.
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