Korea Electric Power Corporation plans to collect 250 trillion won in advance from Samsung and SK Hynix for electricity fees

The Korea Electric Power Corporation is negotiating a multi-billion dollar electricity prepayment plan with Samsung Electronics and SK Hynix to raise funds for the power grid needed to build a new semiconductor industry cluster. According to the current plan, Samsung Electronics will prepay 200 trillion won, and SK Hynix will prepay 50 trillion won, totaling 250 trillion won, which is approximately equivalent to the electricity costs for the next five years.

In a statement, Korea Electric Power said that the large-scale electricity prepayment system is a mechanism that meets the needs of companies urgently needing to expand the power grid and Korea Electric Power, which requires investment funds. Specific details, including the amount of prepayment and the coverage period, have not yet been finalized.