KOSPO Embarks on Establishment of ‘Wise Energy Shift Roadmap’

President Kim Jun-dong of Korea Southern Power Co. (KOSPO) and other participants pose as they attended the inaugural meeting for its companywide energy shift taskforce, designed to transition Hadong Thermal Power Plant, at its Busan headquarters.

On Jan. 17, Korea Southern Power Co. (KOSPO) held the inaugural meeting for its companywide energy shift taskforce at its Busan headquarters. The group is designed to transition Hadong Thermal Power Plant.

The taskforce, being operated under the control of KOSPO’s CEO, was established to explore how to transition Hadong Thermal Power Plant, which is to be decommissioned, and achieve carbon neutrality.

The taskforce has four subcommittees. They are: supporting the regional economy; manpower transfer and external cooperation; equipment utilization and employment stabilization; and the development of an alternative power source.

The taskforce, KOSPO headquarters and the Hadong Bitdream headquarters will mobilize their capabilities to handle the issue.

Each subcommittee made its presentation on how to explore ways of promoting coprosperity among local governments and cooperative companies with the goal of establishing a roadmap on reinvigorating the regional economy and the efficient utilization of Hadong Thermal Power Plant’s assets – manpower, equipment and the site. Participants of the meeting discussed related matters.

KOSPO plans to investigate cases of operating preceding power units in Korea and abroad; open communication channels with local governments and cooperative companies; continue to explore the implementation of shared growth and cooperation in an effective fashion; and spearheading the execution of government policies by reflecting outcomes of discussions by the government’s coal-fired power plant shift consultation body.

KOSPO President Kim Jun-dong said, “KOSPO will minimize the impact on the nation, such as the regional economy and job creation, caused by the decommissioning of a coal-fired power plant, which has served as an axis of the nation’s economic growth and do its utmost to help everyone make a happy future through a wise energy shift.”

KOSPO President Kim Jun-dong and Vice Chairman Jung Yeon-in of Doosan Enerbility pose with representatives of other Korean cooperative companies at a ceremony to sign an MOU on a “Team Korea” approach to exporting gas turbines at Doosan Enerbility headquarters in Changwon on Jan. 21. (Photos: KOSPO)

KOSPO Strikes MOU on ‘Team Korea of Exporting Gas Turbine’

Korea Southern Power Co. said on Jan. 21 the power company signed an MOU on a “Team Korea” approach to exporting gas turbines with Doosan Enerbility in cooperation and core cooperative companies in the gas turbine segment.

The pact will help them cope with economic uncertainties by reinvigorating the Korean power industry and strengthening export competitiveness.

The signing took place at Doosan Enerbility headquarters in Changwon.

The signatory entities were KOSPO, Doosan Enerbility, and its nine cooperative companies, including Ghusang Precision, Daeyeong Metal and Daejin Metal Ind.

The participating entities joined forces to reinvigorate the Korean gas turbine industry.

Under the agreement, they’re expected to devote themselves to promoting sustainable growth by ramping up the overall market competitiveness of the Korea gas turbine industry and establishing a foothold for successful overseas market entry though joint overseas marketing activities based.

KOSPO is a power company which operates the largest number of gas turbine generators in Korea.

It has made strenuous efforts to reinvigorate the power generation ecosystem: Developing and verifying 7FA gas turbine high-temperature parts packages in 2018; implementing a project to regenerate the nation’s first gas turbine axis in 2022; and localizing a gas turbine high-temperature casing in 2022.

KOSPO President Kim said, “Close collaboration among Korean companies is a must for creating a sustainable industry ecosystem, and the agreement will be a pump-priming for reinvigorating the national economy on top of the simple use of homemade products and overseas market entry.”

The Team Korea targets the U.S. market, in which more than 660 units of the 7FA gas turbine are in operation.

KOSPO has succeeded in localizing the 7FA gas turbine, its parts and components, in cooperation with Doosan Enerbility.

The value of the U.S. gas turbine service market is estimated at some 1 trillion won.

As such, KOSPO and cooperative companies’ joint efforts are expected to have a positive effect on the overall national economy by strengthening the Korean power generation ecosystem and boosting exports beyond simple economic benefits.