The Yeongheung Thermal Power Complex of Korea South-East Power Co. (KOSEP) 

holds a ceremony to celebrate the first successful electricity generation of its new

 fifth unit in Ongjin-gun, Incheon, on Jan. 28. (photos: courtesy of KOSEP, article by S. Y. Kim)

The Yeongheung Thermal Power Complex of Korea South-East Power Co. (KOSEP) held a ceremony to celebrate the first successful electricity generation of its new fifth unit in Ongjin-gun, Incheon, on Jan. 28.

Among some 200 participants at the event were KOSEP President Hur Yeop, Vice Chairman Kim Ki-soon of Ongjin County Council, President Lim Byong-ryong of GS E&C, and Hanwha E&C officials. 

Yeongheung Thermal Power Complex will dedicate its sixth unit later this year. Yeongheung Thermal Power Units 5 & 6 are expected to account for 22.5 percent of the total electricity consumption of the Seoul metropolitan area. 

 KOSEP President Hur Yeop gives a speech at the event.

KOSEP has invested 340 billion won or 13.8 percent of the total costs of constructing the two units for installing high-tech, eco-friendly facilities to minimize air pollution emissions as well as cut down on the cost of producing electricity, thus enhancing industrial competitiveness.

KOSEP President Hur Yeop said the initial power generation from Unit 5 was made possible through the support of neighborhood residents and staff and cooperative companies’ combined efforts, and KOSEP will devote itself to completing Unit 6 by December as planned. 

In a related development, Yeongheung Thermal Power Complex won the coveted presidential prize at the 12th Korea Safety Awards ceremony on Nov. 6, 2013. 

The Korea Safety Awards are awarded to bodies recognized for enhancing values in the safety field, spreading and settling awareness toward safety. 

Yeongheung Thermal Power Complex has been credited with spearheading safety awareness by introducing such regimes as the “FoolProof Mind Industrial Prevention Culture” in which employees’ psychological consciousness is analyzed and its results are fed back to prevent industrial disasters. 

KOSEP Turns to Employing of High-Powered Self-Rescue Measures

KOSEP President Hur Yeop, in his New Year’s message, said KOSEP will step on the gas to implement its high-powered self-rescue measures in order to secure management efficiency and financial soundness at the earliest date in accordance with the government’s call for reforming public entities and dramatically reducing their rising debts. 

Hur enumerated the top five management tasks for 2014: the stable operation of power facilities and timely pushing for construction projects; enhancing management efficiency by securing financial soundness; internalizing innovation and securing future growth engines; ethics management; and creating KOSEP’s own corporate culture. 

Hur urged his executives and staff members to renew themselves to realize KOSEP’s vision. “I expect you at KOSEP to demonstrate a more dynamic attitude with a conviction for success rather than fear of failure in the Year of the Horse, and to do your utmost to successfully implement the top tasks I put forward,” he said. 

He said KOSEP will have to internalize innovation and secure future growth engines. “Management conditions of the times, coupled with economic and financial globalization, unlimited corporate competition, and the strengthening of environmental restrictions, are unpredictable. In order to tide over the difficulties, KOSEP needs to continue to pursue innovation with a creative mindset that can break the mold and a challenging spirit that does not fear failure. All staff members are asked to rejoice in innovation and internalize it,” he said. 

Huh said the company will strive to revamp its core capabilities, including the technologies for the construction and operation of power facilities it has accumulated in order to secure future growth engines and foster core manpower by revamping a human resources development roadmap.