Korea Midland Power

What Korea Midland Power does

Korea Midland Power Co., Ltd. (KOMIPO; 한국중부발전 주식회사) is a South Korean state-owned power generation company and wholly owned subsidiary of Korea Electric Power Corporation (KEPCO), headquartered in Boryeong, Chungcheongnam-do. The company operates 8 domestic power generation divisions with a combined installed capacity of 10,755 MW, producing more than 44,000 GWh annually and supplying approximately 8% of South Korea's total electricity. Generation assets span coal-fired thermal (Boryeong 4,419 MW, Shin Boryeong 2,007.9 MW with localized ultra-supercritical technology, Shin Seocheon 1,021.8 MW), LNG combined-cycle (Seoul, Incheon, Jeju), renewable energy (solar PV, wind, small hydro, fuel cells), and emerging green hydrogen electrolysis. Notable technical achievements include Korea's first ultra-supercritical pressure thermal power demonstration at Shin Boryeong, the world's first urban underground large-scale LNG combined-cycle plant in Seoul, ammonia-coal co-firing CFD simulation that reduced NOx emissions by 22.72 ppm at Boryeong, and the only KOLAS-accredited power industry precision analysis laboratory in Korea. The Boryeong plant holds a Guinness World Record for 6,500+ consecutive accident-free operating days.

The company's business model is built on regulated domestic power generation sold wholesale to the Korea Power Exchange (KPX) under long-term PPAs, supplemented by overseas equity participation and EPC/O&M technical consulting across 5 countries and 13 projects (Indonesia, Vietnam, Thailand, Oman, USA, plus Sweden and Spain for renewables). Secondary revenue streams include RPS/REC trading via the newrec.komipo.co.kr platform, KOLAS-accredited materials testing and analysis (covering coal, lubricants, insulating oils, ion exchange resins, SCR catalysts, and gypsum), SME technology development and international market introduction (e.g., ~$1.5M Indonesian export opportunity), and community/local energy welfare programs. International customers include host-country utilities (PT. PLN in Indonesia, EGAT in Thailand, Nama Power in Oman), with new utility-scale solar projects underway in the U.S. (LUCY, 350 MW, Texas, $524M total) and Oman (Ibri III, 500 MW, ~$403M KOMIPO share). The marketing motion is government and public-sector oriented: corporate communications, ESG reporting, public exhibition halls (Boryeong Energy World, Seoul KOMIPO ENERGEUM), and power plant education tours — reflecting its public institution status rather than a competitive B2B sales motion.

Name

Korea Midland Power

Legal name

한국중부발전 주식회사

Website

https://komipo.co.kr

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

11–50 employees

Short description

South Korean state-owned power generation company (KEPCO subsidiary) operating 10,755 MW across 8 domestic divisions, supplying ~8% of national electricity and managing 13 overseas power projects across 5 countries.

Ownership category

akta.pro rank

Headquarters

HQ city

Boryeong

HQ country

South Korea

HQ region

Asia

Offices15 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Infrastructure, Personnel, Technology or R&D

Revenue model

1. Power Generation and Sale: KOMIPO generates electricity at domestic power plants (thermal, renewable) and sells power to the Korea Power Exchange (KPX), which in turn supplies to Korea Electric Power Corporation (KEPCO). Revenue is derived from long-term power purchase agreements through the regulated electricity market.
2. Overseas Power Projects (SPC and EPC): KOMIPO participates in overseas power generation projects through Special Purpose Companies (SPCs) and provides EPC management and technical consulting services for international power plants in Indonesia, Vietnam, USA, and other countries, generating revenue from project equity stakes and service fees.
3. Technical Consulting and O&M Services: Provides operations and maintenance (O&M) and technical consulting services at overseas power plants including Cirebon, Tanjung Jati, Van Phong, and Navanakorn, generating fee-based service revenue.
4. Renewable Energy Certificates (RPS/REC): KOMIPO operates RPS (Renewable Portfolio Standard) and REC (Renewable Energy Certificate) management systems, generating revenue through renewable energy certificate trading.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Korea Midland Power (KOMIPO) is a state-owned power generation utility that operates thermal (coal and LNG), renewable (solar, wind, hydro), and green hydrogen facilities with a total installed capacity of 10,755 MW across eight domestic divisions. It sells wholesale electricity into the Korea Power Exchange (KPX), supplies approximately 8% of South Korea's electricity, and runs overseas generation projects in five countries while offering plant O&M and certified testing services.

Product overview

Korea Midland Power (KOMIPO) is a state-owned integrated energy company operating seven domestic power generation divisions (Boryeong, Incheon, Seoul, Shin Seocheon, Jeju, Sejong, Shin Boryeong) with total capacity of approximately 10,755MW, and multiple overseas power projects across Indonesia, Vietnam, USA, and Europe. The company's portfolio includes coal-fired, LNG combined-cycle, renewable energy (solar, wind, small hydropower), and emerging green hydrogen production. Beyond power generation, KOMIPO offers technical consulting, O&M services, SME technology development support, and operates digital platforms for power trading (전력중개플랫폼) and RPS/REC compliance management. The company also maintains a KOLAS-accredited precision analysis center for materials testing and equipment analysis.

Differentiator

Problem solved

Functional benefit

Brands

• KOMIPO 산타 봉사단: Corporate volunteer program for social contribution activities, with 186 volunteer teams both domestically and internationally.
• 보령에너지월드
• KOMIPO ENERGEUM

Products and services

• Thermal Power Generation
• Renewable Energy Generation
• Green Hydrogen Production
• Power Plant O&M Services
• International Power Project Operations
• KOLAS-Accredited Power Equipment Testing

Quantifiable outcome

• 44,000+ GWh of electricity produced annually
• +4 more outcomes

Named customers11 records

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature5 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• Hanwha OceancoreStrategic or Co-development Partner · 5 August 2026KOMIPO is part of the consortium developing the Shinan-Ui offshore wind project (390MW) in Jeollanam Province, South Korea, along with Hanwha Ocean, SK Eternix, Future Energy Fund, and Hyundai Engineering & Construction. Hanwha Ocean held the groundbreaking ceremony on July 16, 2026. Vestas has been contracted to supply wind turbines.
• Jeju National UniversitycoreStrategic or Co-development Partner · 3 August 2026KOMIPO signed an MOU with Jeju National University to achieve carbon neutrality in Jeju and cultivate future talent across six cooperation areas: renewable energy projects, carbon-neutral campus development, and a Jeju-specialized climate response model. The partnership integrates KOMIPO's renewable energy infrastructure with the university's educational and research resources, using the campus as a demonstration site. The President of KOMIPO highlighted the partnership's relevance amid government mega projects and AI-driven power demand growth.
• Haewaram and SkotraminorStrategic or Co-development Partner · 3 August 2026Haewaram and Skotra are participating in the 250MW floating solar power project at Pyeongtaek Port led by KOMIPO, with an investment of KRW 420 billion. These companies provide specialized pontoon systems and mooring infrastructure for the floating solar facility.
• Korea Rural Community Corp. (한국농촌공사)coreOthers · 3 August 2026KOMIPO and other state-run power companies are competing for development rights for six floating solar projects (total 1.324 GW) at various lakes managed by the Korea Rural Community Corp. KOMIPO submitted proposals for floating solar projects as part of the government's acceleration of large-scale floating solar initiatives.
• Unison (유니슨)minorStrategic or Co-development Partner · 10 July 2026KOMIPO signed an MOU with Unison to strengthen offshore wind power capabilities. This partnership focuses on developing and strengthening KOMIPO's position in the offshore wind sector, which is facing challenges including increasing costs and regulatory hurdles.
• Hyundai Engineering & Construction (Hyundai E&C)coreStrategic or Co-development Partner · 27 January 2026KOMIPO is part of the 'Team Korea' consortium with Hyundai E&C, KIND (Korea Infrastructure & Urban Development Corporation), and EIP Asset Management for the LUCY solar project in Texas, USA. Hyundai E&C is the lead developer; KOMIPO participates as equity partner. The 350MW project in Concho County, Texas represents a total investment of approximately $524 million (KRW 750 billion), with Hyundai E&C holding the groundbreaking ceremony in January 2026 and scheduled completion in July 2027.
• Primoris Renewable Energy (USA)coreImplementation/ SI/ Consulting Partner · 27 January 2026Primoris Renewable Energy serves as the Engineering, Procurement, and Construction (EPC) contractor for the $524 million LUCY Project (350MW solar) in Concho County, Texas, led by the Team Korea consortium including Hyundai E&C and KOMIPO.
• SK EternixcoreStrategic or Co-development Partner · 29 December 2025SK Eternix is part of the Shinan-Ui offshore wind consortium with KOMIPO, Hanwha Ocean, Future Energy Fund, and Hyundai E&C. The 390MW project in Jeollanam Province represents a major national energy transition initiative targeted for completion.
• Vestas (Denmark)coreTechnology or Integration · 29 December 2025Vestas has been contracted to supply wind turbines for the 390MW Shinan-Ui offshore wind project in Jeollanam Province, South Korea. The project consortium includes Hanwha Ocean, SK Eternix, KOMIPO, Future Energy Fund, and Hyundai E&C.
• Masdar (UAE)coreStrategic or Co-development Partner · 20 September 2025The consortium comprising Masdar (lead developer), KOMIPO, and Al Khadra Partners was selected as the winner of the tender for the 500MW Ibri III Solar Independent Power Project in Oman. Power Purchase Agreement scheduled with Nama Power & Water Procurement. Commercial operations targeted for early 2027. This project supports Oman's strategy to increase renewable energy to 30% of electricity requirements by 2030.
• Al Khadra Partners (Oman)minorStrategic or Co-development Partner · 20 September 2025Al Khadra Partners joins Masdar and KOMIPO in the consortium selected for the 500MW Ibri III Solar IPP project in Oman. Al Khadra Partners provides local market expertise and presence in Oman.

Scale indicators14 records

Recent moves6 records

Expansion highlights8 records

Direct peers

• Korea South-East Power (KOEN): Sister KEPCO subsidiary operating a comparable portfolio of thermal and renewable generation plants in southeastern Korea. Directly comparable as a fellow state-owned genco under the same regulatory and operational framework, with similar capacity scale (~10 GW range) and overseas EPC ambitions.
• Korea Southern Power (KOSPO): Another KEPCO genco subsidiary with parallel thermal (coal, LNG) and renewable generation portfolio serving the southern Korean grid. Operates under identical regulatory regime, KPX offtake structure, and overseas EPC strategy as KOMIPO, making it the most direct operational peer.
• Korea Western Power (KOWEPO): KEPCO subsidiary operating thermal and renewable generation in western Korea. Shares the same state-owned utility business model, Korea Power Exchange offtake channel, and overseas project development approach as KOMIPO.
• Korea East-West Power (EWP): Sixth KEPCO genco subsidiary with mixed thermal/renewable generation portfolio. Direct comparable on capacity scale, regulatory structure, and international project footprint.
• Hyundai Engineering & Construction (Hyundai E&C): Lead partner in KOMIPO's Team Korea consortium for the LUCY 350 MW Texas solar project. Operates as EPC contractor and co-developer on KOMIPO's international projects, with overlapping exposure to overseas power infrastructure development.
• Masdar: UAE state-owned renewable energy company leading the consortium with KOMIPO on the 500 MW Ibri III Solar IPP in Oman. Comparable as a state-affiliated international renewable energy developer pursuing utility-scale solar/wind projects in emerging markets.

Broad incumbents

• Tenaga Nasional Berhad: Malaysian state-owned vertically integrated utility with significant thermal (coal, gas) and renewable generation capacity. Comparable as an Asian state-owned utility navigating the energy transition with similar challenges around coal legacy assets and overseas expansion ambitions.
• Sarawak Energy: Malaysian state-owned power company with large hydropower-dominated generation portfolio and overseas project exposure. Comparable regional state-owned utility operator with mixed renewable/thermal portfolio.

Emerging players

• Vestas Wind Systems: Danish wind turbine manufacturer supplying turbines for KOMIPO's 390 MW Shinan-Ui offshore wind consortium. Comparable as a key technology partner in KOMIPO's offshore wind build-out, though operating at a different point in the value chain.
• Hanwha Ocean: Lead consortium member on KOMIPO's Shinan-Ui offshore wind project with EPC and offshore infrastructure expertise. Comparable as a Korean strategic partner with overlapping international energy infrastructure project exposure.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCew6PRDs_1tIZ0tGvqgpDWw
• Facebookfacebook.com/komipo
• Instagraminstagram.com/komipo_official
• LinkedInlinkedin.com/company/korea-midland-power-co-ltd-

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Korea Midland Power