Korea Electric Power Corp. said on Thursday it plans to award a prize to two Seoul National University scholars for their achievement in the local energy industry.

Kim Tai-yoo and Park Jong-keun became the first winners for the KEPCO Research Grand Prix, which the state-run utility launched this year to commemorate the 50th anniversary of its foundation.

Kim was selected for “his outstanding research in energy policy and contribution to strengthening the power industry’s competitiveness,” KEPCO said. He teaches technology management, economics and policy at SNU.

An electrical engineering professor, Park “has led Korea’s advancement in energy-related technologies, utilization of academic theories in the field and integration of green growth and electrical engineering,” it added.

The two scholars will each receive a medal and 100 million won ($92,400) at KEPCO’s anniversary ceremony on June 30.

The energy provider said it will continue to scout for and support academics who play a vital role in the country’s energy and power sector every year.

(heeshin@heraldcorp.com)