2010-07 - Korea IT Times

Electric Power
KEPCO Leads Campaign
for Low Carbon, Green Growth
KEPCO (www.kepco.co.kr)
ranked first among public corporations
in the Korean government's
2009 managerial appraisal
in recognition of its ambitious
campaign for low carbon and
green growth. The state-run company
garnered the top position for
the third consecutive year thanks
to its excellent achievements under
the leadership of CEO Kim
Ssang-soo, including its exports of
nuclear power plants to UAE.
In the government's appraisal
on management of 96 public institutions,
whose result was announced by the Ministry
of Strategy and Finance on June 14,
KEPCO was selected as the best institution
for the third consecutive year.
"The achievement was the result of
KEPCO executives and officials' concerted
efforts to preoccupy overseas markets,
beyond the limit of the domestic market
and develop future growth engines,' a
KEPCO spokesman said. "First of all,
KEPCO created handsome profits
through activation of overseas projects, including
its exports of nuclear power plants
to the UAE and resources development,"
he said.
"Secondly, KEPCO established the
2020 New Vision, which suggested the
company's future direction, and actively
pushed for Smart Grid Project, which
leads green growth,' said the spokesman.
"Under the New Vision, KEPCO will
concentrate its capability on future-oriented
projects and commercialize green technology
now under development in the
54 KOREA IT TIMES | July 2010
near future. By doing so, we aim to enter
the ranks of the world's top five electric
power companies with its 2020 sales of
KRW 85 trillion, including KRW 27 trillion
won in overseas sales," he said.
He also said that the company maximized
efficiency of management by carrying
out Tear-Down & Redesign (TDR) innovation
activity and introducing a system
linking electricity charges with fuel costs.
"We introduced 142 TDR tasks under
the CEO Kim's new managerial strategy
and attained some KRW 420 billion worth
of economic effects, including KRW 23
billion through development of compacttype
substations and KRW 14.2 billion
through development of optimum model
of electric power tunnels," he said.
KEPCO also contributed to curbing a 4
percent increase in electric charges through
budget saving totaling KRW 1.4 trillion,
which broke down into KRW 700 billion
through improvement of work style,
KRW 90 billion through effectuation of resources,
and KRW 600 billion through
savings of niche budget.
Exports of Nuclear
Power Plant to UAE
Based on its 30-year-long accumulated
experience and knowhow
on operation of nuclear
power plants, KEPCO exported
USD 18.6 billion worth of nuclear
power plants to UAE, emerging
as one of the world's top five nuclear
power exporters.
Its ripple effect on relevant industries
amounts to some KRW
30 trillion, and follow-up exports will
reach KRW 40 trillion and it will create
new jobs for 110,000 persons, the spokesman
explained.
KEPCO also achieved about KRW 600
billion in overseas sales in 2009 and net
profit of KRW 124.2 billion, up 11 percent
from the previous year, by expanding its
business arena to resources development,
nuclear power and hydraulic power from
thermal power generation in the past.
"For the first time in Korea, KEPCO established
an overseas stronghold for resources
development by securing 300 tons
of uranium annually from Denison of
Canada. Through its acquisition of equity
of Adaro Energy of Indonesia, the company
also secured about 7 million tons of bituminous
coal annually," he said.
Meanwhile, KEPCO established a
green growth team and a patent team at its
technology headquarters and selected
eight green technology tasks, including
charging infrastructure of electric cars, for
intensive development.