KOSEP Gunning to be Green Energy Co.

Puts 'Vision 2020' in place to have new and renewable business account for 15 percent of revenues

Living up to the management's philosophy of maximizing shareholder value, ensuring customer satisfaction, respecting employees and contributing to society by supplying quality electricity, Korea South-East Power Co.'s (KOSEP) 2,000 staff members are bracing themselves for the future ahead of others to become a green energy company with advanced technology in order to enhance the quality of peoples' lives and contribute to national economic development.
KOSEP unveiled a mid-term management plan this past Jan. 19, calling for investing a combined 4.3 trillion won by 2013 to achieve a target of posting 5.5 trillion won in sales. Despite unfavorable investment conditions in the wake of the global economic crisis, the company plans to make aggressive investments ― pouring 3 trillion won into its main job of constructing electricity production facilities, setting aside 1 trillion won in new and renewable energy development projects and investing 300 billion won in new business arenas including overseas market exploration.
KOSEP is translating into action its "Vision 2020" on new and renewable energy sources, a plan the power company established according to the government's low-carbon, green-growth initiative. In 2020, the target year of the plan, the company expects the new and renewable energy business sector to take a 15 percent share of sales revenues, or account for 1 trillion won, in order to establish itself as a full-fledged green energy company.
The company also has a plan to reach the technological levels of world-class corporations in its top three technologies ― predictive maintenance technology, new combustion technology and CO2 reduction technology ― in order to secure the core technologies of the future. KOSEP plans to capitalize on its original technologies as next-generation growth engines, and it is proactively responding to protocols on climate change by participating in voluntary carbon dioxide reduction activities through energy service company (ESCO) businesses.
Reflecting on his own management ideas and philosophy, KOSEP President and CEO Jang Do-soo set management guidelines ― pursuing sustainable management, securing new growth engines, maximizing management efficiency and building a new corporate organizational culture. Recognizing that creating added values based on profitability is as important as pursuing the public interest of supplying electricity in an economically efficient and stable manner, CEO Jang is striving to ensure management innovation so that the two tasks can be harmonized as a precondition to secure the upper hand in competitiveness. nw

(above)KOSEP President Jang Do-soo. KOSEP President Jang and employees participate in a ceremony to unveil the "Vision: Global Power Leader," a mid-term management plan, this past Jan. 19.