KEPCO Nuclear Fuel appointed Jeong Chang-jin to be KEPCO NF president and CEO at an extraordinary shareholders’ meeting in September, and he took office at KEPCO NF headquarters in Deojin-dong, Yooseong-gu, Daejeon.
In his inaugural speech, KEPCO NF President Jeong said, “We will create new growth routes for KEPCO NF by securing management innovation and financial soundness, and we will devote ourself to growing into a global nuclear fuel company.”
“KEPCO NF will build a corporate culture based on trust through harmony and communication with the labor union, and we will create social values by building growth engines through overseas businesses, and laying a foundation to revive the nuclear power industry,” President Jeong said.
President Jeong graduated from Jaemulpo High School and Korea University. Since Jeong entered Korea Electric Power Corp. in 1991, he held major positions with KEPCO, such as head of the Fare Regime Office, chief of Gwangju Branch Office, and head of the Fare Planning Division.
As he served as head of the Business Management Division at KEPCO NF, he had been credited with securing financial soundness by efficiently managing management risks, such as rising costs and higher foreign currency risks.
In particular, Jeong has been evaluated to solidify a partnership between management and labor based on mutual cooperation and communication while serving as chief of the Business Administration Division at KEPCO NF.
President Jeong’s three-year term ends on Sept. 4, 2027.
KEPCO NF Priming for a Leap Forward Overseas
KEPCO Nuclear Fuel looks to grow into a global company thanks to the President Yoon Seok-yeol government’s carbon-free energy policies.
KEPCO NF specializes in nuclear power design, production and services, established to secure self-sufficiency of nuclear fuel.
KEPCO Nuclear Fuel has seen its profit and international standing rise by exporting light water reactor (LWR) fuel since 2017, as the four units of the Barakah Nuclear Power Plant with Korean-made APR1400s in the United Arab Emirates have been put into commercial operation.
The Emirates Nuclear Energy Corp. now wants to produce nuclear fuel on its own, and KEPCO NF is making preparations to become a major company for the construction of a nuclear fuel plant in the United Arab Emirates.
KEPCO has a 96.4 percent stake in KEPCO NF.
The company posted 304.4 billion won in sales, 37.1 billion won in operating profit and 31.5 billion won in net profit as of 2022. Its total assets stood at 949.4 billion won while debts totaled 490.2 billion won in the same year.
KEPCO NF aims to boost sales to 620 billion won by 2035, with the portion of overseas sales expected to grow to 30 percent.
The company looks to develop nuclear fuel to lead the K-taxonomy and realize sustainable management.
K-Taxonomy refers to the classification of green economic activities contributing to six environmental goals: greenhouse gas reduction, adaptation to climate change, sustainable water conservation, recycling, pollution prevention and management and biodiversity.
Korea Atomic Energy Research Institute owns a 3.6 percent stake in KEPCO NF. KEPCO NF was established in a joint venture between KEPCO and KAERI, but the former has taken the larger stake in KEPCO NF, which has become KEPCO’s affiliated company.
This is why KEPCO NF headquarters is located within KAERI headquarters.
Many countries across the world have utilized nuclear power as their national significant energy source thanks to the stable and economic production of electricity.
Concern and demand for nuclear power is on the rise, as energy security issues have emerged in touchy geopolitical situation, and the requirement for global carbon neutrality.
At the COP28, held at the late 2023, 22 countries including Korea and the United State adopted the Net Zero Nuclear Initiative, calling for recognizing nuclear power as green energy and surging nuclear power capacity by three times by 2050.
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