[THE INVESTOR] The Korea Electric Power Corp. said on June 7 that it has secured a US$5.34 million service support contract from Myanmar’s Ministry of Electricity and Energy.

Korea’s state utility company said it will provide consulting to Myanmar as it builds an electricity distribution network and sets standards in designing the distribution network over the next four years.

Some 70 percent of people in Myanmar don’t have access to electricity and 17 percent of its electricity is lost in transmission and distribution, compared with just 3.6 percent in Korea, according to KEPCO.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)