KOSEP CEO Honored with Presidential Citation Award at SAVE Int’l Conference

Jang has been credited with enhancing corporate value

Korea South East Power Co. (KOSEP) CEO and President Jang Do-soo has been presented with the Presidential Citation Award at the 2010 SAVE (Society of American Value Engineers) International Conference in Los Angeles on June 9.
Jang, the CEO of the public enterprise, received the award nine years after the award, which is given to CEOs who have contributed to enhancing corporate values, went to Yoon Jong-yong, vice chairman of Samsung Electronics in 2001.
Jang has been credited with making excellent management achievements and the development of improving the nation’s value management by activating a facility safety campaign based on autonomy, responsible management, intrapreneuring and total productivity management (TPM) methodology and introducing such systems as the reduction of new power plant construction costs through the utilization of value evaluation for the first time in the history of public enterprises.
Since he took office as the CEO of KOSEP in October 2008, Jang has employed value management and cost innovation activities for the overall management of the power company.
The SAVE International Conference, marking its 50th anniversary this year, is being held every year under the sponsorship of SAVE International, which has a membership representing 35 countries around the world and is devoted to the advancement and promotion of value methodology. Value engineers and related officials from around the world assemble at the annual conference, which is supported by the U.S. federal government, to share information and experiences by presenting excellent papers.
A few hundred people from the Untied States, the United Kingdom, China, Japan and other countries participated in the 2010 SAVE International Conference held under the theme “Cruising for Value,” at Long Beach, California, from June 7-10. About 30 value engineering (VE) experts, including the ones from Samsung Electronics and Hyundai Motor Co, attended the conference and presented papers to share information and VE experiences.
Jang was praised for reducing production costs by 15.5 percent from 79.16 won per kWh in 2008 to 66.90 won per kWh in 2009 while raising electricity sales YoY by 18 percent from 48,799 GWh to 57,459 GWh in 2009. KOSEP posted 211.6 billion won in net profit in 2009, a 351.1 billion won surge from a 139.5 billion won loss the previous year. nw

(right) Korea South East Power Co. (KOSEP) CEO and President Jang Do-soo poses for a photo session after receiving the Presidential Citation Award at the 2010 SAVE (Society of American Value Engineers) International Conference in Los Angeles on June 9. The SAVE International Conference, marking its 50th anniversary this year, is being held every year under the sponsorship of SAVE International.