Many Electricians to work for Korea Electrical Power

By Ayesha Daya and Shinhye Kang
Dec. 28 (Bloomberg) -- Korea Electric Power Corp. shares surged after it led a group of bidders that won a $20 billion contract for four nuclear plants in the United Arab Emirates, beating General Electric Co. and Areva SA, the world’s biggest builder of atomic plants.
The order announced yesterday is the first nuclear project awarded by a Gulf Arab nation and will be South Korea’s first export of atomic plants. Korea Electric’s winning group included Doosan Heavy Industries & Construction Co., the nation’s biggest power-equipment maker, signaling Korean companies are contenders to win more nuclear orders.
“There’s strong growth potential for the industry in the next two decades,” said Lee Jin Woo, a fund manager at KTB Asset Management Co. in Seoul, which manages the equivalent of $8.5 billion in assets. “There are expectations Korean companies will win additional orders.”