The state-run power company is selling the 79,342 square meters of land that is estimated to be worth more than 3.33 trillion won (US$3.22 billion) to reduce its debts in compliance with the government's plan to normalize debt-ridden public firms.
KEPCO is set to relocate its main office to Naju in the southwestern part of the country in November.
Hyundai Motor Group has expressed its determination to buy the land to build a business complex. A Hyundai official said the conglomerate plans to convene a board of directors meeting soon to finalize the matter. The group is “putting the final touches to the preparation of documents for its bid,” he said.
Samsung Group, on the other land, has not clarified whether it will bid for the KEPCO property. However, reports said a Samsung team has made preparations for its bid.
reporter
Park Sae-jin
swatchsjp@ajunews.com
