Korea Electric Power Corp. (NYSE: KEP: 14.69, 0.72): Shares of the the South Korean state-run utility surged over 5% on Monday after it led a consortium that won a $20 billion contract for four nuclear plants in the United Arab Emirates, beating General Electric Co. and Areva SA. The project, which was announced Sunday in Abu Dhabi ,is the first nuclear project awarded by a Gulf Arab nation and will be South Korea's first export of atomic plants. Other members of the Korea Electric Power consortium are Hyundai Engineering and Construction, Samsung and Doosan Heavy Industries.
South Korea an emerging and ambitious Asian country breaks the monopoly of the US and West European countries of very high technology development and trade. Oddly enough they beat GE in their world competition and trade. Looks like the world stage players have new masters.
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