Korea Electric Power Corporation (KEPCO), led by President& CEO Kim Dong-cheol, has successfully completed a total of 72 transmissionand substation construction projects in 2024, despite low public acceptance ofpower grid projects and a lack of cooperation from local governments. Theseachievements were made possible through institutional improvements, includingamendments to the Electric Power Development Promotion Act and expandedcompensation and support measures.

Notable projects include:
  · Construction of the 345kVBukdangjin–Shintangjeong transmission line
  · Completion of Asia’s largest grid-stabilisingenergy storage system (ESS)
  · The Wando–East Jeju HVDC (High-Voltage DirectCurrent) project

These initiatives are expected to alleviate generationconstraints, resulting in an estimated annual reduction of KRW 850 billion inpower purchase costs. This cost reduction will help absorb a potentialelectricity price increase of KRW 1.6 per kWh.

In November 2024, KEPCO successfully completed the 345kVBukdangjin–Shintangjeong transmission line, which was the longest-runningconstruction project in South Korea. This project is expected to reduce powerpurchase costs by KRW 350 billion per year by alleviating power generationconstraints in the west coast region. Additionally, this is expected to boostinvestment in next-generation display industries in Cheonan and Asan, whichhave been designated as national high-tech strategic industrial zones. 

In September 2024, KEPCO completed the construction ofAsia’s largest grid-stabilising ESS, with a total capacity of 978MW, inlocations such as Yesan (South Chungcheong Province) and Bubuk (SouthGyeongsang Province). The implementation of this ESS is expected to improvepower grid frequency stability and reduce generation constraints on the eastand west coasts, leading to an estimated annual reduction of KRW 500 billion inpower purchase costs.

In November 2024, KEPCO also completed the Wando–East JejuHVDC project, which will enhance Jeju’s power supply capacity and increase itsability to accommodate renewable energy generation.

Additionally, in October 2024, KEPCO completed the 154kVSoseong Substation in Jeongeup, North Jeolla Province, expanding the grid’scapacity to accommodate approximately 200MW of renewable energy.

KEPCO has reaffirmed its commitment to enhancingpublic acceptance of power infrastructure projects by continuously pursuinglegal and institutional innovations that align with public expectations. Thecompany also pledged to make every effort to ensure the timely construction ofthe nation’s essential power grid infrastructure.