SG brief: Keppel Corp.

A South Korean 10,000 won note. Photo by Minho Jeong on UnsplashA South Korean 10,000 won note. Photo by Minho Jeong on Unsplash

Keppel Corp. said Thursday it has incorporated two wholly owned subsidiaries in South Korea via wholly owned subsidiary Keppel Renewable Energy.

KRE Korea Portland, with issued and paid up capital of KRW277 million (US$222,696), and KRE Korea Omaha, with issued and paid up capital of KRW307 million, were incorporated for the development, establishment and operation of energy generation and storage systems, the company said in a filing to SGX.

In September, Keppel Capital Holdings entered a strategic cooperation with the National Pension Service of Korea (NPS) to explore Asian private infrastructure investments. Also, South Korean media reported in May that Keppel Infrastructure Trust was shortlisted in the race to acquire Eco Management Korea (EMK), a waste-management and recycling provider, with waste-to-energy capabilities.