'Set for a Take-off'

WP CEO Kim emphasizes realization of being a corporation beloved by youngsters

Kim Jong-shin, president-CEO of Korea Western Power Co. (WP) urged his executives and staff members to draw up a plan for a sustainable growth and implement the objectives during this year.
In his New Year's message, CEO Kim said, "when I took the helm three years ago, I suggested our target of becoming a respectable company beloved by youngsters, established an action program dubbed "Y-Project 2007"and put my heart and soul into achieving the target. We have to establish and implement a plan for evolving into a company with sustainable growth."In this regard, WP CEO Kim said WP needs to establish the Post Y-Project with the goal of becoming a respectable company beloved by youngsters, thus rising to the "World Best Genco."CEO Kim set the following tasks to achieve this year's target.
First, CEO Kim called for strengthening core capabilities through continuous innovation. The success of the Six-Sigma management program designed to remove organizational inefficiency depends on whether all staff members,
not special sectors, pursue innovations with innovative mindset, he noted. In particular, during this year, innovations will focus on pending issues of each department and core sectors to prepare tasks, and "champions"will take the lead in the process of strategic themes to upgrade innovation up one level, he said. In order to raise profitability and safety, he said, WP will focus on promoting reliability of facility operation, secure economic purchase of power generation fuels and timely construction of power plants as well as accelerating R&D activities and securing core technologies.
Second, he called for a sustainable management system buildup. To establish a mid- and long-term plan under a vision is to secure sustainability of WP for 100 years or 200 years. Many advanced corporations put their heart into developing a sustainable management regime. WP is abiding by four principles on human rights, labor, environment and anticorruption as a member company of the UN Global Compact. WP will further promote higher levels of ethics and social contribution activities, and the company will have to promote environmentally-friendly management by expanding such desulphurization and denitrfication facilities and minimizing by-products arising from power generation. In a bid to secure engines for sustainable growth, he said, WP will work on new satellite heating business, a cogeneration plant in Gunsan, a tidal power plant in Garolim, South Chungcheong Province, while striving to implement overseas projects.
Third, he urged his staff to make their work places worthwhile. Last year, all staff members agreed on setting pursuit of supremacy and placing priority on trust as WP's core values, dubbed "WP-WAY"thanks to their concerted efforts to create a unified corporate culture. CEO Kim said each member will have to translate the WP-WAY"into action to upgrade the corporate culture to a higher level.
Reflecting on last year, CEO Kim said WP had the Six-Sigma management program in place as the company introduced the Balanced Scorecard (BSC) designed to provide a fair pay for performance and a comprehensive performance compensation system.
WP, as a public corporation, has promoted collaboration with SMEs by providing support for exploring overseas markets and technological assistance to the latter. All staff members have joined forces to expand such growth engine projects as a cogeneration plant in Gunsan, a tidal power plant in Garolim, and new satellite heating projects.
WP has been classified to Level 5 in a government innovation appraisal survey for the second straight year and the company has grabbed such diverse awards as the transparent management grand prize, excellent corporation award and international standard system management grand prize. WP was conferred with the Order of Industrial Service, Gold Tower in the individual category of the national quality management rally. nw

WP CEO Kim Jong-shin exchanges greetings with WP employees during a ceremony marking the start of the 2007 business year. (right) WP CEO Kim.


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