On Monday, October 20, the Korea Electric Power Corporation (KEPCO), was chosen by US-based Platts as the best electric power company in Asia for the year 2008. It was honored to be selected at the awards presentation at the St. Regis Hotel in Singapore. This was the second time it was selected, the first being in 2006. This is a good opportunity for KEPCO to get good exposure of its brand both inside and outside of Korea, and will be another feather in its cap when it goes to search for new overseas markets in the future. KEPCO is a government-sponsored, integrated electric utility company in Korea. KEPCO is the only company engaged in power transmission and distribution in the country. In addition, KEPCO generates approximately 94% of the total electricity produced in Korea through its whollyowned sixth generation subsidiaries, or GENCOs. KEPCO spun off its power generation sector and established six GENCOs in 2001 in accordance with the government's restructuring plan for the power industry.

The company's vision is to "spur the development of electric sources, operate the electric business rationally, and ultimately ensure the stable supply and demand of electric power and contribute to the development of the national economy," according to their web site. KEPCO has already been successful overseas. A Korean consortium consisting of KEPCO, the Korea Resources Corporation, LG International and ARMZ Uranium Holding Co. which is a Russian-owned enterprise, signed an agreement to develop Russian uranium mines collaboratively in September. Lee Yoon-ho, the Minister of Knowledge Economy, attended the meetings at WTC DON Hall in Moscow. According to the agreement, the Korea consortium will probe and develop the uranium of ARMZ Uranium Holding Co. as a strategic partner.

ARMZ Uranium Holding Co. is very interested in processing the 350 thousand tons of uranium which it holds. It is willing to sell a stake of the business overseas to get funding for development. The Korean consortium has taken them up on the offer, and will decide the scale and value of the purchase by negotiation after a detailed examination of the mine. The Korean consortium had been contact with ARMZ since the latter half of 2007 to participate in the development of the Russian uranium mines. It had only been able to come to an agreement, however, two months ago. They signed an MOU. Korea expects to get a long-term supply deal from the mine development. This is important, as Korea is already the 6th largest consumer of uranium.

Platts, a division of The McGraw- Hill Companies, is a leading global provider of energy and metals information. The company has been in business for almost 100 years. It has customers in more than 150 countries. It serves information to its clients about oil, natural gas, electricity, nuclear power, coal, petrochemical and metals markets. Platts' real time news, pricing, analytical services, and conferences help markets operate with transparency and efficiency. Traders, risk managers, analysts, and industry leaders are often said to depend on Platts to help them make better trading and investment decisions. Platts annually chooses the best company in seven different energy industries in each continent. It announces its selections annually, after considering the value of their assets, sales figures, profits, and the minimal amount of management activity.