'All Together, Create the Future'

New KEPCO Chairman Kim takes the helm at the nation's largest power company

Kim Joong-kyum, former president of Hyundai Engineering & Construction, took office as the 18th chairman & CEO of KEPCO at an inauguration ceremony at the KEPCO head office in Samseong-dong, Seoul, on Sept. 28.
New KEPCO Chairman Kim said in his inaugural speech, "As the domestic power industry sees its growth slow down continuously, our imminent task is to explore new growth engines for sustainable growth."
He said the worsening of financial soundness, such as the posting of losses in a few years and rising debts, will not only make it difficult for the company to execute new businesses such as the construction of overseas nuclear power plants and the exploration of overseas resources, but also will undermine the stability of power supply from the long term perspective. Accordingly, improving management indexes is one of the company's urgent tasks, and alternatives to find solutions toward it need to be explored.
Domestically, he said, KEPCO will have to contribute to the development of the national economy by expediting the development of power generation sources in the interests of the public and promoting the efficiency and stability of power supply, while KEPCO will strive to pursue profitability by pushing diverse projects such as nuclear, hydro, and thermal power plants, power transmission and distribution, new and renewable energy sources, and resources exploration.
Asking himself what KEPCO will look like in the future, President Kim said he and his staffers will have to envision a "Global Top Green & Smart Energy Pioneer," a company with the highest satisfaction by employees, a company with sustainable growth in terms of tangible and intangible values, and a company living up to national and historical missions based on these intrinsic values.
Kim suggested six management tenets as ways of making KEPCO a company that is not only committed to making good on the responsibilities commissioned by the people and state, but also one that is loved by the stakeholders.
First, he said, KEPCO will translate into action their global management strategies through a global mindset and future-oriented perspective.
"We're now at a starting point with a dream of becoming a top global energy pioneer. To this end, KEPCO's gifted manpower will have to have a future-oriented viewpoint with historical awareness, globalization, creativity, and a view of the future. We have to strive for predicting future trends and creating future growth engines through 'future marking' as well as evolving into a global top company by enhancing our competitive edge in Korea and abroad through the benchmarking of world-class power companies."
"Second," he said, "KEPCO will have to implement humanity-oriented management for the welfare of human beings.
"Third, KEPCO will devote itself to pursuing confidence through harmony and co-existence.
"Fourth, KEPCO will pursue future-oriented management with a challenging spirit and innovation.
"Fifth, KEPCO will go for creative management for attaining top corporate values.
"Lastly," he said, "the company will implement responsible management for becoming a company beloved by people and for attaining sustainable growth."
He proposed the establishment of the tentatively-named KEPCO Future Development Committee, designed to develop the company into a corporation of sustainable growth. The committee, which is to be operated by the end of this year, will be charged with overhauling work processes and systems, as well as securing a consensus among the staff members in exploring core tasks for its development.
Earlier, he ordered the establishment of a task force designed to ameliorate the response to power supply contingencies in order to prevent the repetition of the power cuts that hit many segments of the nation on Sept. 15. The company is now working on a package of comprehensive steps to respond to power supply emergency situations. nw

We're now at a starting point with a dream of becoming a top global energy pioneer. To this end, KEPCO's gifted manpower will have to have a future-oriented viewpoint with historical awareness, globalization, creativity, and a view of the future.

KEPCO Chairman & CEO Kim Joong-kyum

Photo on courtesy of KEPCO