Korea Western Power Co. (KOWEPO) President Cho In-kook delivered his New Year’s message on Jan. 2 in which he urged all KOWEPO employees to join in efforts to overcome management difficulties.
“Even though last year was not an easy year, thanks to our concerted efforts, we made such achievements as the dedication of the Pyeongtaek 2 Combined Cycle Power Plant, posting of 160 billion won in operating profit, and being classified as one of excellent companies in mid-term evaluation related to normalization of public entities,” President Cho said. “I extend thanks to KOWEPO family members for making the achievements during the year, and I want all of us to reaffirm our resolution while embarking on the new year.”
He added that the company faces many challenges this year. “Due to a drop in power demand increase rate, new high definition power units' market entry, and capacity factor’s drop to below 50 percent, caused by the higher percentage of aged power plants, our sales are forecast to drop to 4 trillion won, and profitability is expected to be plunged,” he said.
Cho said, “We have to cope with such power industry policy changes as the government's constant demand for reforming of public entities, power demand management, and carbon emission trading system.”
“This year is a year when a revised version of our vision is put into practice and an era of Taean that will bring about remarkable changes is ushered in with the opening of KOWEPO Headquarters in Daean,” he said.
“We should take a path we've never trodden. KOWEPO's future will hinge on how to deal with challenges ahead of us. I will expound a few tasks to combat uncertainties and march toward the future.”
First, he called for everyone to join efforts to overcome management difficulties. “We launched an emergency management mode to regain trust from the people in keeping with the government’s demand for normalizing of public entities in 2014, but we have to implement such management steps as a rise in capacity factor, rising profitability and securing of new power plants to battle for survival,” he said.
To this end, he said KOWEPO will concentrate its management capacity on such things as a reduction in power generation unit prices, a maximum operation of aging power facilities, development of lucrative O&M projects — including of new coal-fired and combined cycle power units in the 7th national power supply master plan — and developing and timely operating of new and renewable power facilities.
Second, he urged his executives and staff members to make sure KOWEPO headquarters in Taean is put on the right track at the earliest possible date.
“We have to deal with such woes and worries, caused by the relocating of KOWEPO headquarters, as limited availability of work infrastructure, and difficulties in securing gifted manpower” President Cho said, adding that KOWEPO needs to lay a solid foundation for the earlier normalization of KOWEPO headquarters in Taean by removing possible conflicts with local residents through collaboration. They must ensure co-prosperity, while revamping each field’s work processes to overcome inefficiency, caused by the relocation of its headquarters at an initial stage.
Third, he called for each KOWEPO staff member to devote himself and herself to enhancing personal capacity. “KOWEPO needs manpower armed with expertise and technology to secure future competitiveness and challenging spirit,” he said. “Professional manpower specializing in the top five core technology areas and Q&M field with global mind and challenging spirit will be an essential foundation to overcome future difficulties.”
Fourth, he urged all staff to set an example by carrying out duties with the spirit of understanding and harmony. All KOWEPO employees can have synergetic effects of their personal capacity when companywide mutual understanding, respect, encouragement and praise prevail. Labor and management should share difficulties and cooperate with each other.
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