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Snowballing debts at state-run energy companies are raising doubts over the government s forecast that inflation will continue to cool off and the country s economy will rebound in the second half of this year. Among the companies that announced 2022 earnings data last week, Korea Electric Power Corp. (KEPCO) said it posted a record operating loss of 32.6 trillion won ($25.02 billion) last year. ....
Criticism has intensified over President Yoon Suk-yeol s appointments of a slew of unqualified political figures as the heads of state-run energy firms, as a reward for campaigning for him in the last presidential election, according to market watchers, Sunday. Choi Yeon-hye, a former lawmaker of the conservative Liberty Korea Party, a predecessor of the ruling People Power Party (PPP), was named head of Korea Gas Corp. (KOGAS), a state-run energy firm, Nov. 10. ....