Korea Electric Power Corp. said Friday that it will invest 8 trillion won ($7.2 billion) in smart grids until 2030.
A smart grid is a new electric transmission system that allows two-way communication, as well as trade, between suppliers and consumers.
KEPCO will spend 400 billion won a year for the next five years to improve facilities for the supply and distribution of electricity, the company said in a statement.
The power company also said it will make investments of 2.3 trillion won until 2020 and 3.7 trillion won until 2030 in the intelligent electric transmission system.
In particular, KEPCO will focus on the development of technologies to expand the smart grid system this year, the company said.
The technologies include a system that can estimate power generation capacity by renewable energy sources like solar power, KEPCO said.
KEPCO plans to tap smart grid markets in Russia, Southeast Asia and Central America with the developed smart grid technologies.
The company has been participating in a government-led project to develop a smart grid system since 2009.
