Korean National Oil Corporation's $2.6 billion bid for UK-based Dana Petroleum as part of its globalization strategy has been rejected on the grounds that it undervalues the company. Although the deal may still go ahead, potentially becoming a hostile takeover situation, both companies have active growth plans that would see them thrive regardless of whether the deal progresses.
State-owned Korea Electric Power Corporation has announced plans to invest $1.8bn in smart grid technology as part of its efforts to reduce carbon emissions. In addition, the corporation has recently joined IBM's Global Intelligent Utility Network Coalition, signaling an intention to be among the world leaders in the development and deployment of smart grid technology.
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