KEPCO Declares New First Energy Mover Vision in ‘Era of Naju’

Korea Electric Power Corp. (KEPCO) ushered in the new era “Era of Naju” and declared a new vision, dubbed “Smart Energy Creator, KEPCO,” to spearhead a future energy industry.

KEPCO held a ceremony to officially open its new headquarters building in Naju on Dec. 17 with some 1,000 people in attendance, including neighborhood residents. Also participating were Prime Minister Chung Hong-won, 2nd Vice Minister Moon Jae-do of the Ministry of Trade, Industry and Energy (MOTIE), Rep. Kim Dong-chul, Rep. Chu Mi-ae, Rep. Shin Jung-hoon, Gwangju Metropolitan City Mayor Yoon Jang-hyun, Jeollanam-do Gov. Lee Nak-yeon, Naju Mayor Kang In-gyu, and Ahn Shi-kwon, deputy head of the Public Agencies Relocation Office at the Ministry of Land, Infrastructure and Transport.

The event signifies that KEPCO, which takes initiative in the global electricity market as one of Korea’s largest public entities, is ushering in an era of Naju for the next 100 years. The new era puts an end of the era of Samseong-dong (Seoul), a stage of its 28-year business since 1986.

The pre-ceremony events included the unveiling of an “aloograph stone” and planting a commemorative tree. The ceremony proceeded with speeches by Prime Minister Chung, KEPCO President Cho and other VIPs and the awarding of a plaque of appreciation, and it was followed by post-ceremony events such as the commemorative performance by Jeoolanam-do traditional Korean music troupe.

KEPCO unveiled a new vision containing five core values that will be needed to rise to a world-class energy company, committed to create innovative values that will help it embark on the next 100 years, beyond the 116-year history of the Korean electricity industry. The vision signifies KEPCO’s determination to become a “first mover” to innovate itself and take the initiative in the future energy industry.

The company expounded its core values as securing new growth engines through the development of new businesses; nurturing gifted manpower; exploring new markets and innovating corporate culture; stabilizing electricity services with a sense of mission; pursuing not only economic, but also social and environmental values; and converging their capability based on companywide harmony and trust.

In his commemorative speech, KEPCO President Cho Hwan-eik said: “All staff will devote themselves to becoming the smartest and clearest global company with a sense of mission.” KEPCO will spearhead efforts to make the innovative city of ‘Bitgaram’ one of the bests and a global energy valley.”

KEPCO is one of the largest public entities that have been relocated to provincial areas. KEPCO headquarters’ 1,531 staff members have already moved into its new building in Naju.

By inviting a large number of neighborhood residents to the ceremony, the KEPCO action may be construed as part of its efforts to contribute to the development of the Gwnagju and Jeollanam-do region, and its determination to promote endless communication with customers, a KEPCO official said.

With the relocation of KEPCO, the innovative city in Naju is expected to rise to an energy valley of Korea.

KEPCO, in cooperation with power companies relocated there, plans to invest more than 10 billion won in R&D collaboration with industry, academia and research circles annually to explore promising new growth engines, such as new and renewable energy, energy storage system, micro-grid, and electronic vehicle segments.

KEPCO also plans to provide support to attract 100 technology companies in cooperation with local government bodies as part of efforts to nurture superstar companies by realizing collaboration models ranging from development of products to exporting overseas.

The power company plans to build a smart grid station targeting new tenant companies of the innovative city by making the most of electricity-ICT convergence technology, which is KEPCO’s strong point. The move is designed to enhance energy efficiency by 19 percent by 2020, KEPCO officials said.

A first-floor library equipped with some 50,000 books, a 1,000-seat auditorium and the uppermost 31-floor sky lounge will be opened to public use. KEPCO’s new headquarters is an exemplary case of shifting from an energy-consuming structure to an energy-producing one. The building will be fitted with new and renewable energy facilities with a combined capacity of 6,750kW to generate 23 million kWh of electricity annually and achieve an energy self-sufficiency rate of 42 percent.

KEPCO plans to hold a public contest for innovative technology development ideas to explore new growth engines and businesses in the electricity and energy fields. They will be implemented under a project to build the “Bitgaram Energy Valley.” The contest areas include power generation and new & renewable energy fields, power transmission and distribution sectors, ICT and customer services (consumption efficiency/demand response) and convergence and others. KEPCO also plans to provide support to attract 100 technology companies in cooperation with local government bodies as part of efforts to nurture superstar companies by realizing collaboration models ranging from development of products to exporting overseas.