The project will see establishment of a new grid in order to share surplus power from South Korea with Japan, which is facing power shortage, Korea Joongang Daily reported.
The Korea Herald cited a Kepco official as saying: "As the plan is still at a very early stage, we are cautious about making comments. However, I believe the project would benefit both countries if it can be realized."
A Kepco high ranking official said: "Softbank Chairman Masayoshi Son has shown interest in participating in the submarine power cable project.
"Recently Kepco management and Chairman Son held a meeting where we reached an agreement on this issue."
Asia Super Grid initiative has been proposed by Masayoshi Son following the 2011 tsunami, which damaged the nuclear power plant in Fukushima, Japan.
The new submarine cable connecting Korea and Japan will represent the first step for the Asia Super Grid vision while Son aims to connect Korea, China, Japan, Russia and Mongolia’s power gird for a steady supply of energy, as part of long term plan.
"Depending on the geopolitical situation, this project could also draw in the participation of North Korea."
The cable project is expected to play a role in improving the relations between Korea and Japan, the official said.
