Korea Hydro Nuclear to issue bonds for power plant

Published: 16 Feb 2009 00:51:49 PST

SEOUL, Feb 16 - State-run Korea Hydro and Nuclear Power Co (KHNP) said on Monday it will issue 500 billion won worth of bonds this month to raise capital to build nuclear power plants, about a month after it issued a smaller amount in January.

The state-run firm plans to issue 370 billion won ($263.6 million) worth of bonds with a five-year maturity, and another 130 billion won with a maturity of three years, it said in a statement.

In January, the company sold 300 billion won in bonds as part of its plan to raise a total of 3 trillion won through bond issuances this year.

South Korea, which generates about 40 percent of the country's electricity on nuclear power, plans to build 12 new nuclear reactors by 2022. Currently, the KHNP runs about 20 reactors for power generation.