'A Fresh Vision for Future'

New WP president initiates 'V-Project 2010'

Sohn Dong-hee, new president & CEO of Korea Western Power Company (WP), said, "I pledge to exert all-out efforts to evolve WP into a power industry leader of the 21st century and build a corporate culture with dynamics so that all staffers can work with hope and pride."
"As a proverb 'Look outside the window in better days and look the mirror in hard times'goes, we have to look back on ourselves and envision our future five or 10 years later. We plan to establish the "V-Project 2010,"a mid- and long-term development plan calling for vision, value and vitality'based on the Y-Project 2007 WP has implemented for the past three years,"he said in his inaugural message on April 3. The following are the excerpts of his speech.
Looking back on the past six years after WP was inaugurated as one of the nation's six power generating companies, we have a memory of moments for excitement and disappointment over satisfactory or unsatisfied results.
We have been working hard toward the realization of our goals and vision we have set as starting with the establishment of its corporate value, a blueprint for the future, WP has carried out the Six-Sigma management innovation program and built up the Balanced Score Card (BSC).
Thanks to these efforts, we have repositioned itself as one of the leading power generating companies as WP made such feats; ranking at the top-notched Level 5 on the innovation ranking of public organizations for the second straight year; winning the nation's first national quality management grand prize for public organizations and the Excellent Worksite Grand Prize; and gaining remarkable marks in assessments of business performances for power generating companies.
Despite the excellent business performances, the reality is that the business environment we now face is not favorable: raw material price hikes on the international market, ever-mounting competition for securing energy sources among nations and globally rising demands for preserving the environment of the earth. On the internal front, we are expected to see profits declining due to the recession of the domestic economy and a lower rate of electricity demand growth.
In the wake of the public demand for a push for reforming public organizations and the act on the operation of public entities that went into effect in April, we are required to undergo changes and innovations with higher intensity.
In order to overcome volatile management circumstances and further the development of WP, I would like to ask you for your active participation and willingness to perform the following tasks.
First, we have to carry out our principal task as a public organization responsible for supplying electricity. To secure a stable supply of power at cheaper prices in the interests of people is the purpose of our existence. To this end, 1,800-odd WP staff will have to throw our heart and soul into operating power generating facilities at optimal levels.
Besides, in an effort to cope with changes of the fuel market that is shifting from a buyer-oriented one to a seller-oriented one, we have to do our best to cut down on unit power generation prices, while striving to build up infrastructure for ensuring self-sufficiency of core power plant technologies through expanded R&D outlays.
Secondly, WP will have to put more energy into securing futuristic growth engines that ensure our sustainable development. These days, the popular subject of talk is concerned with sustainable management. To this end, corporations need to establish global standards in economic, social and environmental aspects. It means that while striving for profit-oriented management through efficient operation of power facilities, WP will have to ensure a clean, transparent and ethical management and social contribution activities in the interests of the public as well as eco-friendly management through the expansion of desulfurization and denitrification equipment.
Besides, WP needs to build a foundation for survival from global competition by strategically implementing such new projects as the community energy system in the Cheongna area, combined cycled power project in Gunsan and wind power plant project as well as overseas projects.
Thirdly, WP will have to pursue management innovation on a continuous basis. We are now carrying out the Six-Sigma program designed to eliminate in-house inefficiency. Its success or failure hinges on whether all staff members, not special strata, join forces.
Fourthly, we have to reestablish harmonious management-labor relationships. It is more important for staffers to have a "horizontal"viewpoint that management and labor form both axis of the wheel,"departing from a vertical, subordinate one. I work for realizing an open management to share everything concerning management and maintain a conciliatory attitude with labor union. If management and labor strive for dialogue and cooperation on the basis of principle, it is not impossible to attain WP's future full of hopes.
From now on, I pledge to exert all-out efforts to evolve WP into a power industry leader of the 21st century and build a corporate culture with dynamics so that all staffers can work with hope and pride. As a proverb 'Look outside the window in better days and look the mirror in hard times'goes, we have to look back on ourselves and envision our future five or 10 years later. We plan to establish the "V-Project 2010,"a mid- and long-term development plan calling for vision, value and vitality based on the Y-Project 2007 WP has implemented for the past three years.
Let's combine all WP staffers'resources and wisdoms together. Finally, the president's office will be always open to have a heart-to-heart talk with the WP family about work as well as personal things. nw

Sohn Dong-hee, new president & CEO of Korea Western Power Company