KOSEP Wins Transparent
Management Award

Power utility company honored for open, trustful management and social contribution

Korea South-East Power Co. won the 4th Transparent Management Grand Award from the Korea Employers Federation at the annual meeting of employers held Jan. 23 at Chosun Hotel in downtown Seoul.
The power company said the award is in recognition of its open management and trust management, the management ideals that it has been pursuing over the past several years.
The transparent management grand award was created by the five large economic organizations including KEF to encourage transparency in management for business firms in the country.
This year, three companies won the award including KT and Kyobo Life Insurance. KOSEP tried to induce synergy by practicing ethical management in such areas as personnel, labor, and environment and the participating ethical management joined by the entire employee of the company. The company also is known for bringing employees of vendor firms, and customers together in its running of participatory management. The company also thoroughly implemented the 10 largest obligatory tasks under the UN global Compact to build a ethical management system and its implementation, which made the company to win the grand transparency management award for this year.
Attending the award ceremony included Chairman Lee Kyung-sook of the Presidential Transition Committee, Chairman Lee Soo-young of the Korea Employers Federation, Chairman Sohn Kyung-shik of the Korea Chamber of Commerce and Industry, Chairman Lee Hee-bum of Korea International Trade Association, among others, totaling some 300 representing KEF member firms.
President Kwak Young-wook of KOSEP said KOSEP has set up its management ideals including respect for human being, love for nature, and social contribution in its effort to be a supplier good quality power at low prices on a stable basis to do fullest its given duty.
The KOSEP CEO also said the power company has always focused on doing its social responsibility as completely as possible for its shareholders, regional society and other related organizations.
The company will continue to grow under its management ideals of open and trustworthy management so it will become a company loved by the public, the CEO said in his acceptance speech of the coveted award.
KOSEP was spun off from the Korea Electric Power Co. in 2004, taking over 6 hydro and thermal power plant from the mother company.
Currently its total power generating capacity comes to some 7 million kw, sharing some 12 percent of total power generating capacity in Korea.
Thermal Power Plant and the 400,000kW capacity Water Power Pump Plant in the Yeichun district of North gyeongsang province are currently under construction. In total this will enable the company to reach a total capacity of 9,730,000kW.
In the past, economic value was considered to reside only in land, labor, and capital. But in the 21st century, creativity is key to generating economic wealth. As communication technologies such as the Internet develop, creativity plays a key role in successful economic development. In the very near future, individuals and companies without creativity will not survive. KOSEP is now focused on cultivating a sustainable management system based on knowledge and creativity in order to achieve long term, steady success.
Electricity is the root source of our national power, said the CEO in his website in the Internet.
All of our staff and employees at KOSEP are endeavoring to establish a sound management system in order to supply good quality electricity in a steady and stable manner at competitive prices to enhance the national economy and our nation's cultural life.
Based on the above statement, the management philosophy of KOSEP shall be encapsulated in the letters RPC (Respect for Human Beings, Preservation of the Natural Environment and Contribution to the Community). Our aim is to achieve security and durable growth through adaptability.
As a leading electricity company, we have played a major role in supporting the Korean economy for the last 40 years. In the future, as a new and energetic company, KOSEP is dedicated to boosting and improving the Korean energy business. KOSEP promises to bring light, warmth and happiness to all of our customers. nw

KOSEP President Kwak Young-woo is among the winners of the 4th Transparent Management Grand Award from the Korea Employers Federation at the KEF's 31st annual meeting held at Chosun Hotel Jan. 23.