Exploring Overseas Markets with a Challenging Spirit

Korea needs to strive to nurture nuclear power into a mainstay exporting industry

Korea Power Engineering Company, Inc. (KOPEC) President and CEO An Seung-kyoo said Korea’s nuclear plant deal with the United Arab Emirates indicates not only that the nation has joined the ranks of advanced nuclear powerhouses, but also that the excellent technology, safety and price competiveness of Korean-type reactors have been certified internationally. This is owed to the nuclear power construction technology and operational knowhow Korea has accumulated over the past 30 years, Ahn said.
“We’ve now built a platform for exporting Korean-type nuclear power units, so we have to strive to nurture nuclear power into a mainstay exporting industry like shipbuilding, semiconductors and handsets by completing the projected UAE nuclear power units in a seamless manner and localizing core technologies,” he said.
Looking back at the year 2009, Ahn said, “Last Year was a year for making strenuous efforts to brace for another decade. We’ve laid a foundation for making a leap into being a world-class company by establishing mid and long-term plans on the development prospects of KOPEC and setting its new vision ― a global top-five power EPC leader.” He added, “Despite the economic downturn, the corporate value of our company has been assessed highly in the capital markets of the Korea Exchange thanks to your dedicated efforts.”
“The mainstay industries that have so far taken the lead in an era of $20,000 per-capita income are semiconductor, shipbuilding, automobile, IT and the home appliance industries, and from now onward, the electricity industry based on green growth will be a mainstay industry that will drive the nation to an era of $30,000 per capita income,” the president said.
“As climate change emerges as a major global issue and nations across the globe are moving to reinforce restrictions on greenhouse gas emissions, the energy market is forecast to be restructured, and in particular, a huge market focusing on nuclear power and low-carbon, thermal power will likely be created,” Ahn said.
“We need to secure the momentum to ensure sustainable growth in order to respond to these environmental changes. Global corporate players are focusing on building new strategies designed to secure a competitive edge amid this new economic order and weighing on innovation strategies and the insight into the future,” he said.
“At this juncture, I suggest the keywords for the year 2010: challenges and raising brand value. We need a challenging spirit to create our corporate future value by aggressively entering foreign markets, departing from the lukewarm growth strategy of exclusively landing domestic power unit projects, and leaping into the rankings of the global top-five electricity plant powerhouses,” he said.
If KOPEC can secure new growth engines with a challenging spirit, he said, the company can create an environment conducive to it, and it should ramp up its brand value to compete in the global market.
“Staff members need to carry an attitude and conduct activities in keeping with global standards on top of good-quality design and excellent technological power,” he said. nw

KOPEC President An Seung-kyoo

KOPEC executes the design of Shin Kori Units 3&4.