South Korea to merge oil and gas companies and integrate power and port institutions

```htmlSouth Korea has announced a major restructuring of state-owned energy and transportation enterprises as part of broader public institution reforms aimed at reducing costs and enhancing competitiveness. The South Korean government issued a statement on Thursday saying that Korea National Oil Corporation and Korea Gas Corporation will merge. In addition, five subsidiaries of Korea Electric Power Corporation will be consolidated, Korea Coal Corporation will be liquidated, and four regional port management agencies will also merge. The government stated that this restructuring will integrate institutions with overlapping functions and consolidate subsidiaries and smaller public institutions to improve infrastructure management and reallocate technological and personnel resources.```