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Restructuring of Energy Network Industries: Current Situation and Policy Tasks Ahead

  • Journal of Regulation Studies
  • 2004, 13(1), pp.131-166
  • Publisher : 한국규제학회
  • Research Area : Social Science > Public Administration

신정식 1,  Sung-Ho Choi 2

1건국대학교
2경기대학교

Candidate

ABSTRACT

Restructuring of energy industries such as electricity and LNG, one of key features of regulatory reforms, will be a cornerstone for Korea's steady economic growth. Apparently delayed restructuring might harm international credit standing of Korean economy, and confidence and transparency of Korean economic policy. Restructuring of energy sectors, even though it significantly influences industrial competitiveness and national welfare, cannot be successfully achieved only on the economic ground. Political parties and National Assembly should reinforce relevant legislation and the government needs to declare more concrete blueprints to strengthen investor confidence. In order to establish competition mechanism, preparation for vertical separation, inter-fuel competition, separation of distribution sector, and introduction of competition to the importation business of LNG are crucial tasks. For successful privatization, efforts should be made on early selling of generation companies, improvement of corporate governance of energy companies, rationalization of tariff system, and establishment of competition promotion system and regulatory institution.

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