State power firm KEPCO to cut 2,420 jobs by 2012

By Nam Kwang-sik
SEOUL, Dec. 22 (Yonhap) -- Korea Electric Power Corp. (KEPCO), South Korea's
state-run power company, said Monday that it will cut its workforce by over 11
percent and halve the number of its branches to reduce costs.

Under the decision, KEPCO will phase out 2,420 jobs, or 11.1 percent of its
21,743 headcount, by 2012 via the downsizing of its business operations, the
company said.
It will also integrate its 26 distribution, sales and transmission branches,
leaving just 13.
The move comes after the government announced Sunday that 69 state-run
corporations and institutions, including KEPCO, will slash a total of 19,000
workers, or 13 percent of their combined payroll, over the next three-to-four
years.
ksnam@yna.co.kr
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