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Korea may limit foreign control of power industry

Written: 2001-12-07 00:00:00Updated: 0000-00-00 00:00:00

South Korea may limit foreign control of its power industry to 30 percent of its generating capacity. The Generation Company Privatization Committee said no one should be allowed to control more than one generating company and foreigners should be limited to two. A committee member says the market share limit is due largely to the public's concern about foreign intervention in the nation's power industry. The government plans to privatize the Korea Electric Power Corporation. The state-owned power monopoly has held talks with potential investors, including U.S. power and gas company Mirant Corporation, to sell stakes.

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