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KEPCO attracts Japan's Alps Electric to S. Korea's energy cluster

All News 11:36 September 11, 2016

SEOUL, Sept. 11 (Yonhap) -- South Korea's state-run Korea Electric Power Corp. (KEPCO) on Sunday said it has attracted Alps Electric Co., a major Japanese electronics parts makers, to an energy cluster that is being built in southwestern South Korea.

Alps Electric plans to set up a research and development center for the Internet of Things (IoT) in the energy cluster in Naju, the home to the headquarters of KEPCO, by the end of this year. The investment, if completed, will make Alps Electric the first foreign company in the Naju energy cluster.

On Friday in Tokyo, KEPCO and Alps Electric announced they will pursue projects for the energy cluster as well as the Internet of Things for electricity.

A groundbreaking ceremony for the 'Energy Valley' cluster is under way in Naju, South Jeolla Province, on April 19, 2016. (Yonhap)

The state-run utility has been pushing to turn Naju, about 350 kilometers south of Seoul, into a global energy cluster like Silicon Valley.

At a ceremony in Tokyo, Cho Hwan-eik, president and CEO of KEPCO, said he will cooperate with Alps Electric to ensure Japanese electronics parts makers can quickly invest in the "Energy Valley" cluster in Naju.

Alps Electric President Toshihiro Kuriyama vowed to cooperate with KEPCO to create and dominate new markets by combining KEPCO's technological strength in the electricity sector and Alps Electric's technology in IoT sensors.

Alps Electric is a major manufacturer of high-quality electronic components for mobile devices, home electronics, vehicles and industrial equipment. Last year, Alps Electric's sales came to 774 billion yen (US$7.5 billion).


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