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Throughout the world, restructuring and competition are being introduced into the electric power industry. In Korea, the act on the promotion of restructuring of the electric power industry was approved to allow the division of generation businesses on December 23, 2000. Furthermore, the electricity business act (EBA) was amended in early 2002 so that it could mandate the establishment of an electricity trade market and the advent of a regulatory agency, Korea Electricity Commission. Amongst the radical changes since the restructuring, we are fleshing out our experiences associated with the investment and expansion planning in generation and transmission sectors. Indeed, we need to work out a long-term generation investment plan, taking into account scheduled and reasonably foreseen unscheduled outages as well as transmission installations. Also, construction, operations, and maintenance of the new facilities will be ensured by a closer examination of development plans for the network.