PVTIME – As part of a wider public sector reform agenda focused on cost optimisation and improving industrial competitiveness, South Korea’s government has unveiled a sweeping restructuring of national state-owned energy and transport corporations.
Official announcements released on Thursday outlined multiple structural adjustments to the country’s public energy and logistics infrastructure sectors. The national oil and gas corporations will merge. Five subsidiary power entities operating under Korea’s central electricity authority are also set to be consolidated.
The reform package includes the further operational reshaping of legacy public energy bodies. The National Coal Corporation will enter formal liquidation proceedings, and four regional port authorities will be consolidated into a single organisational structure.
