Lates News

According to foreign media reports, Samsung Electronics and SK Hynix have rejected a prepaid electricity fee proposal put forward by Korea Electric Power Corporation (KEPCO), which would have required the two companies to pay electricity bills in advance to fund the construction of power grids supplying a new technology cluster. Cash-strapped utilities across Asia are struggling to keep up with the growing demand from the semiconductor and artificial intelligence industries. KEPCO's proposal estimated by local media at a combined 25 trillion won, equivalent to five years of electricity bills was designed to circumvent this supply-demand mismatch. A KEPCO spokesperson said via text message: "The two companies ultimately rejected KEPCO's proposal." According to local media reports, the two chipmakers are concerned about uncertainty over whether the current semiconductor boom can be sustained over the next five years.