KEPCO Engineering & Construction, Court Orders Additional Payment of 9.3 Billion KRW to Subcontractor for Construction Costs

[Asia Economy Reporter Minwoo Lee] KEPCO Engineering & Construction announced on the 10th that it received a decision from the Korean Commercial Arbitration Board to pay subcontractor Hanra Co., Ltd. an additional construction cost of 9,358,970,000 KRW and interest at 6% per annum from the construction completion date of February 18, 2016, until the payment date.

Meanwhile, Hanra was also ordered to pay KEPCO Engineering & Construction 2,681,810,000 KRW and interest at 6% per annum prescribed by the Commercial Act from December 12, 2016, the day after the delivery of the counterclaim, until the payment date.