KOMIPO is striving to expand future-oriented growth engines

Accelerate efforts to expand overseas business and secure new and renewable energy

KOMIPO CEO Nam In-suk

The New Year 2011 has dawned. I hope all people, including Korea Midland Power Co. (KOMIPO) executives and staff members, will have a hopeful year.
Last year, we accomplished many achievements both at home and abroad. First of all, we established a foundation to advance into power generation projects in Africa, in addition to the existing Indonesian market.
With the start of the work to replace the Incheon combined power plant No. 3, we also prepared a turning point to kill two birds - stable power supply to the metropolitan area and use of combined cycle power facility - with one stone at home.
In 2011, there are still many negative factors such as a rise in energy prices and unstable employment, as well as the pressure to reduce greenhouse gas emissions.
To effectively tide over such difficulties and secure more competitive position in the market, we will make diverse efforts to expand future-oriented growth engines.
Operating 1,000 MW-class power plants in the large-scale thermal power generation business is a global trend. Accordingly, KOMIPO will concentrate its efforts on the construction of the Sinboryeong No. 1 and 2.
At the same time, we will expand the overseas business and secure new and renewable energy this year. For instance, we will expand overseas markets to the Middle East, Africa and Latin America by making the best use of our successful experience in Indonesia.
We will also exert our best efforts to propel the tidal power generation project as scheduled, in addition to the existing solar energy and wind power generation projects.
Along with this, we will make efforts to improve the communication culture in our company. We have already achieved a significant change in overall management through sharing of management-related issues, solving problems, and fostering active communication.
However, there are still many shortcomings and insufficient matters. By establishing a firm communication culture, we will seek sustainable growth and secure a superior position in the market.
We need to develop new and various ideas through smooth communication and make efforts to make up for our weak points such as possession of many outdated facilities.
In particular, we plan to increase confidence in each facility and remove waste factors by making the use of 6-sigma movement this year.
We will also make all-out efforts to fulfill our social responsibility through practice of sharing.
For instance, we need to contribute to regional development by keeping an amicable relation with regional residents.
We cannot achieve rapid growth and development only with our efforts. Accordingly, we will bolster cooperative relations with small and medium-sized enterprises and pursue win-win growth objectives.
In 2011, I wish all people, including KOMIPO executives and staff members, will have good health and happiness. Thank you very much.nw