KOMIPO Focuses on
Environment-Friendly
Power Production

Seeks to raise the percentage of new and renewable energy sources out of total energy production to 9.8 percent by 2014

Korea Midland Power Co. (KOMIPO) has established a long-term plan to create new growth engines to cope with market changes in an era of global competition. The plan, dubbed, "The New Business 1020"calls for raising the portion of sales from the new business division to 20 percent within 10 years.
Under the plan, KOMIPO will invest a total of 1.3 trillion won by 2014. The long-term new business development plan is in line with KOMIPO President Chung Jang-sup's focus on exploring the untapped "Blue-Ocean"markets for creating new demands of the future since he took the helm of the power company.
KOMIPO's participation in a thermal power plant project in Cirebon, Indonesia is in line with its efforts to expand overseas present, part of the New Business 1020.
In 2005, in cooperation with KEPCO, KOMIPO has moved into the Lebanese combined cycle power plant operation and maintenance markets, while participating in a project to construct a coal-fired thermal power plant in Wuchi Mountain in Henan Province, China.
KEPCO and KOMIPO own a 51 percent stake and a 49 percent stake, respectively, interest in a project company established to operate two Lebanese combined cycle power plants with a combined capacity of 870MW, respectively. KOMIPO is in charge of the operation of the power plants, while KEPCO is responsible for the management of the project company and project management.
On the domestic front, KOMIPO goes the extra mile in creating new sources of revenues through its stake participation in such new business projects as methane gas power generation and the Kangwon Wind Power project.
In this past May, KOMIPO inked an MOU on tidal power development with the Incheon metropolitan government. A feasibility study is under way on the development of the world's largest tidal power plant in the coastal area of Seokmodo, Gangwha Island. If the project proceeds without a hitch, it is expected to bring about such benefits as replacing 320,000 tons of heavy oil worth 51.6 billion won plus carbon emission rights worth 12.3 billion won annually.
In 2006, KOMIPO purchased 1.6 trillion won worth of purchasing fuels for power generation, or 69 percent of its 2.363.8 trillion won of total expenditures.
Of late, steep economic strides of such newly emerging industrial states such as China and India have been pushing up energy resource prices,, making it Energy importers find it not easy for energy importers to secure a stable energy supply. As part of its efforts to tackle stable energy supplies, KOMIPO is striving to stabilize its energy supply though timely and precise stock management by introducing an integrated fuel management system. KOMIPO is endeavoring to explore new low-priced coal suppliers while trying to enhance fuel purchase efficiency through collaboration with power companies in the years to come.
The international pacts on climate change require dramatic changes in the global power generation industry, which accounts for 25 percent of the world's total greenhouse gas emissions.
KOMIPO aims at raising the percentage of new and renewable energy sources out of its total energy production from the current 2.4 percent to 9.8 percent by 2014, higher than the government target of 7 percent, as well as secure annual carbon rights of 1.8 million tons (CO2/year).
In this regard, KOMIPO is participating in such projects as the Seocheon solar power plant, to be dedicated in December 2007, the Boryeong first and second tidal power plant project, to be completed next March, the Deokcheon wind power plant in Jeju and the Yanggu wind power plant, to be opened in August 2009 and September 2010, respectively.
KOMIPO is seeking to carry out such projects as greenhouse gas reduction technology, high-efficientcy power plant construction and energy efficiency improvement projects. KOMIPO has the world's biggest Clean Development Mechanism (CDM) business as a power company registered with the United Nations to secure carbon rights and . KOMIPO has become the nation's first company certified with carbon rights.
In a related development, KOMIPO has won the 2007 Green Management Grand Prize for the third straight year and KOMIPO President Chung has received the coveted the Excellent Management Award from the Korea Management Association (KMA) during a prize-award ceremony held at the Grand Hilton Convention Center on Sept. 13. nw

KOMIPO's Boryeong Thermal Power Plant.

KOMIPO President Chung Jang-sup