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A study on policy propriety and economic feasibility of new business of a state-owned enterprize : A case study of Korea electric power corporation

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Submitted to KDI School of Public Policy and Management in partial fulfillment of the requirements for the degree of MASTER OF PUBLIC POLICY AND MANAGEMENT
2011 Professor Man Cho
ABSTRACT
A STUDY ON POLICY PROPRIETY AND ECONOMIC FEASIBILITY OF NEW BUSINESS OF A STATE-OWNED ENTERPRISE; A CASE STUDY OF KOREA ELECTRIC POWER CORPORATION
By Choi, Myung Hee
A state-owned enterprise (SOE) is a legal entity set up by a government to undertake commercial activities on behalf of an owner government. In Korea, most SOEs are established by the relevant laws and the laws stipulate their establishment purpose, business, etc. Accordingly, to create their new business, it is essential to amend their relevant laws and to consult with the Government and the National Assembly in the legislative progress. However, although there are often revisions of the laws in relation to SOEs’ new business, there is little research to study policy propriety and economic feasibility of SOEs’ new business in Korea until now. It is important to review new business of SOEs in the perspective of management efficiency and establishment purpose of SOEs and it is also critical to examine business value and economic feasibility of new business. Lately, the Korea Electric Power Corporation Act (KEPCO Act) and Enforcement Decree of the Korea Electric Power Corporation Act (Enforcement Decree) were revised and went in effect as of October 13, 2010. The major revised content is to allow Korea Electric Power Corporation


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Title A study on policy propriety and economic feasibility of new business of a state-owned enterprize
Similar Titles
Sub Title

A case study of Korea electric power corporation

Material Type Reports
Author(English)

Choi, Myung Hee

Publisher

[Seoul]:KDI School of Public Policy and Management

Date 2011
Pages 68
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Financial Policy
Holding KDI School of Public Policy and Management

Abstract

A state-owned enterprise (SOE) is a legal entity set up by a government to undertake
commercial activities on behalf of an owner government. In Korea, most SOEs are established by the relevant laws and the laws stipulate their establishment purpose, business, etc. Accordingly, to create their new business, it is essential to amend their relevant laws and
to consult with the Government and the National Assembly in the legislative progress.
However, although there are often revisions of the laws in relation to SOEs’ new business,
there is little research to study policy propriety and economic feasibility of SOEs’ new
business in Korea until now. It is important to review new business of SOEs in the perspective of management efficiency and establishment purpose of SOEs and it is also
critical to examine business value and economic feasibility of new business. Lately, the
Korea Electric Power Corporation Act (KEPCO Act) and Enforcement Decree of the Korea Electric Power Corporation Act (Enforcement Decree) were revised and went in effect as of
October 13, 2010. The major revised content is to allow Korea Electric Power Corporation(KEPCO) to do real estate business. This paper examines the policy propriety through
reviewing various policy aspects with regards to KEPCO’s new business and reviews commercial viability through the study on marketability and financial analysis of KEPCO’s
new business. As a generalized result of this study, there needs to be more governmental effort and consideration for autonomous and responsible management of SOEs in the
legislative progress for more speedy and profitable business and it is needed for SOEs to
develop new business by value-based strategy through thorough due diligence considering
economic and environmental factors. It could be the great advantage to the public that
economically feasible new business of SOEs contributes to lowering or holding down utility rates by additional revenue from the new business.