KEPCO proposes $6.2 billion cross-border power grid cost

State-run Korea Electric Power Corporation (KEPCO) has proposed a $6.2 billion cross-border power grid that would connect South Korea, China, Russia and Japan. KEPCO has estimated a cost of about $2.57 billion to connect China’s eastern port of Weihai with South Korea’s western port of Incheon via 370 km undersea power cables, and a cost of $2.12 billion to link Vladivostok to the northern part of Gyeonggi province using 1,000 km land cables. The proposed link between Goseong in South Gyeongsang province and either Kitakyushu or Matsue in Japan’s northern coasts will cost an estimated $1.68 billion to $2.92 billion. KEPCO has proposed importing energy from China and Russia to reduce domestic electricity costs, cut greenhouse emissions and sell residual power to Japan to earn profits. However, large investments are needed and the route that will pass through North Korea is currently hindered by sanctions on North Korea.

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