KEPCO-Alstom Grid

SEOUL, May 21 (Yonhap) -- Korea Electric Power Corp. (KEPCO), South Korea's state-run power company, said Tuesday that it will establish a joint venture with Alstom Grid, a French electric power transmission equipment maker, to conduct a high-end electric power transmission project in South Korea.

The joint venture, named "KEPCO Alstom Power Electronics Systems (KAPES)," will focus on the establishment of a high-voltage, direct current (HVDC) electric power transmission system in the country, which uses direct current for the bulk transmission of electrical power, in contrast with the more common alternating current systems, KEPCO said.

The project is aimed at increasing Korean transmission grid capabilities in collaboration with Alstom Grid, KEPCO said.

KEPCO holds 51 percent stake in the joint venture, while Alstom Grid owns the rest.

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