Continuous Changes and Innovation
WP CEO Kim Moon-duk takes office as company¡¯s fifth president
Korea Western Power Co. (WP) held a ceremony to celebrate the ninth anniversary of its establishment and inaugurate CEO Kim Moon-duk as the fifth WP president on April 5.
In his inaugural speech, CEO Kim called for continuous changes and innovation to cope with stringent environmental restrictions and uncertainties. He noted that uncertainties over future profits, coming from unpredictable fuel prices, are mounting in accordance with climate change pacts coming into force amid radical changes in the business environment facing the electricity industry. WP executives and staff, he added, were required to cope with continuous changes and innovations in addressing these issues and to have creative ideas and a capacity for continuously creating new sources of revenue.
Kim said WP plans to develop an evaluation tool connecting achievement and compensation in order to raise profits by insuring the stable operation of plants and an increase in the efficiency of facilities. Steps will be reinforced to boost the management of risk, including changes in the fuel market, one of the essential factors in securing profits.
WP will maximize its return on investment in overseas projects through concentration and choice while successfully pushing ahead with core projects, including integrated gasification combined cycle (IGCC), which will emerge as new growth engines for creating its future value. The company will implement activities to advance business management, including the Six-Sigma quality management formula and Tear Down and Redesign (TDR). WP CEO Kim said WP will build transparency and ethical management by throwing its heart and soul into establishing a creative corporate culture based on reliability and harmony as well as an amicable labor-management relationship.
WP President Kim carried out the first personnel reshuffle after taking the helm at the power company, WP said on May 1. The personnel change affected all of the 13 heads of headquarters, offices and businesses and 15 officers, nearly half of the head office¡¯s 32 team leaders.
The reshuffle followed a reorganization of the power company¡¯s operations by integrating similar functions. The personnel change was based on precision evaluations into individuals¡¯ abilities amid tight security in order to select a person fitting each position.
The reshuffle served as an opportunity for WP to reestablish principles on appointing capable officials and to make WP more competitive by building a foundation for achieving the CEO¡¯s management catchphrase ¡°Focus & Align.¡±
Turning Sludge into Renewable Energy
WP inks an MOU with the Suwon municipal government
Korea Western Power Co. inked an MOU with the Suwon municipal government on creating renewable energy through reusing sludge from household waste treatment plants as a fuel for generating electricity. Microorganisms feeding on food remnants and other organic substances of the sludge are transformed into biomass, equivalent to low-quality coal for generating 3,000 to 4,000 kcal/kg. nw
Korea Western Power (WP) new President & CEO Kim Moon-duk (left). WP President Kim holds an MOU the WP signed with the Suwon municipal government on turning sludge into renewable energy with Suwon Vice Mayor Ye Chang-geun at the Suwon City Hall on April 21.