South Korea announced a major restructuring of state-owned energy and transportation companies as part of broader public institutional reforms aimed at reducing costs and improving competitiveness. A statement issued by the South Korean government on Thursday said that Korea National Petroleum Corporation and Korea Gas will merge. In addition, five Korea Electric Power Company subsidiaries will be merged, Korea Coal will be liquidated, and four regional port authorities will also be merged.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.