 In 1996, KEPCO was named the prime contractor for the multinational Korean Peninsula Energy Development Organization (KEDO) project to construct a light water reactor nuclear power plant in North Korea, a project which was eventually abandoned in 2006.Following a push by the Korean government to restructure Korea's power industry which began in the mid-1990s, the "Act on the Promotion of Restructuring the Electric Power Industry" was proclaimed on 23 December 2000, after which the electricity generation business was split up into Korea Hydro & Nuclear Power, a subsidiary responsible for nuclear & hydro power generation, and five thermal power generation companies