Korea Western Power Co. (KOWEPO) has inaugurated a committee designed to establish and execute short- and medium-term innovative strategies to comply with an energy transition era.
KOWEPO held a ceremony at its headquarters in Taean to declare “KOWEPO innovative growth projects” and inaugurated the “KOWEPO Innovative Growth Committee,” which is designed to carry out 100 top-tier innovative tasks. The event happened on Feb. 24.
KOWEPO innovative growth projects are part of management improvement activities, which are being implemented by KOWEPO President Lee Jung-bok, with his strong determination to be a top-tier power company by pursuing companywide innovation to brace for future uncertainties, such as income structure changes, caused by the energy paradigm shift and creating future growth momentum.
The Taean Power Plant is to have its units 1 to 6 decommissioned starting later this year on a gradual basis in accordance with the government’s national power supply master plan. KOWEPO plans to build combined power plants substituting for the closed units in Gumi, Gongju, Yeosu and Yongin.
KOWEPO President Lee said, “There is worry about our company’s future competitiveness, such as declining sales, caused by the decommissioning of coal-fired power units. In order to remove such misgivings, we are declaring KOWEPO innovative growth projects to sow the seeds for future growth of our company and members by carrying out top-tier innovative tasks.”
The 100 top-tier innovative tasks, to be implemented by the KOWEPO Innovative Growth Committee, were explored through heated discussions based on company members’ consensus on the pursuance of future growth through innovation.
The power company fully reflected company members’ views on exploring the innovative tasks.
KOWEPO President Lee held town hall meetings to communicate with staff members with an open-minded attitude, while touring major business complexes, including KOWEPO headquarters for the last month.
The innovative tasks consist of 182 tasks, including views suggested during the town hall meetings, each department’s recommendations and KOWEPO trade union’s proposals.
KOWEPO has come up with a shortlist of 100 innovative tasks, including pending issues, such as reorganizing of departments and personnel management systems based on evaluation standards, such as freshness, timeliness, effectiveness and policy compliance, improved financial soundness through debt rate management and rising net income, and spreading of safety awareness at power plant sites, as well as future growth plans, such as expanding of overseas renewal energy projects, construction of Korean off-shore power farms, and realizating of digital transformation plants.
Among the innovative tasks are ways of creating synergetic effects through the spreading of an integrity environment.
That will be done by strengthening on-the-spot communication, improving of labor-management trust and ambitious plans to promote effective shared growth with cooperative SMEs and district society through tailored communications.
KOWEPO held a ceremony to inaugurate “KOWEPO Innovative Growth Committee” following an event to declare KOWEPO innovative growth projects to share detailed ways of managing tasks.
The power company plans to upgrade innovative growth tasks through the committee and outside experts’ consultation and verification.
KOWEPO plans to award staffers who achieve excellent outcomes in the course of the tasks and boost morale.
KOWEPO Designated as ‘Excellent Entity of National Security Duties’ by MOTIE
KOWEPO was given the highest grade in a security inspection of public entities by the Ministry of Trade, Industry and Energy.
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