New President Lee Seung-hoon of Korea Gas Corp. who officially took over the office in a ceremony on July 2 in Daegu.

New CEO Lee delivers his inaugural speech at his inaugural cermony on July 2 at the company's Internaetional Conference Room.(Photos:KOGAS)

Lee Seung-hoon took over as the 15th president and chief executive officer of the state-run Korea Gas Corp(Kogas) in Daegu. His inauguration ceremony was held at the company’s international conference room on July 2.

Lee said in his speech that natural gas is a stable and economic resource, and emphasized that the company must supply gas safely as its basic mission.

He suggested blueprints on new energy industries using natural gas, and stressed that KOGAS should have a healthy financial structure. Lee, who became the new president and CEO as of July 1, is to serve in the position for three years. He majored in electrical engineering at Seoul National University and earned a doctorate in economics at Northwestern University in the United States.

He worked as a lecturer and professor at Seoul National University’s department of economics for over 30 years, and also as a director of the Korea Society for Electricity Industry Studies from 1998 to 2011 as well as the chairman of the Presidential Committee on Green Growth from 2013 to 2015.

Korea Gas Corporation was incorporated by the Korean government in 1983. Since its founding, it has grown to become the world's largest LNG importer. As the nation's sole LNG provider, the corporation is fully committed to providing clean, safe and convenient energy to the people of Korea. In keeping with this mission, KOGAS operates three LNG terminals and a nationwide pipeline network spanning over 3,022km in order to ensure stable supply for the nation. 

KOGAS imports LNG from around the world and supplies it to power generation plants, gas-utility companies and city gas companies throughout the country. It produces and supplies natural gas, purifies and sells gas-related byproducts, builds and operates production facilities and distribution network, and explores, imports and exports natural gas for domestic and overseas markets. 

Korea Gas Corporation celebrated its 30th anniversary in 2013. 

“On behalf of everyone at KOGAS, I’d like to express my sincere gratitude to all of our customers for their unwavering support over the past three decades as we have grown into a leading energy company,” the new CEO said. 

KOGAS has maintained solid growth through the years with its tireless innovation efforts and enterprising spirit. 

“And the driving force propelling us forward this whole time has been our founding philosophy, which is to always ensure that Korea has a safe and stable supply of natural gas. With the world’s largest total storage capacity (8.86 million kℓ), KOGAS has helped increase Korea’s natural gas supply rate up to 75 percent, making life more convenient for everyone through accessible energy,” the CEO said. 

Today, KOGAS is involved in a number of exploration, development and production projects around the world in a bid to make Korea’s already stable supply of gas energy greater than ever before. The company has been able to achieve all these remarkable feats as a result of KOGAS employees’ tireless passion and commitment. 

KOGAS is contributing to a higher quality of life in Korea through the stable supply of natural gas. Supplying natural gas safely and stably, KOGAS is playing an important role not just in the economic growth of Korea and the country’s balanced growth, but also in heightened public welfare and the preparation of a long-term stable supply of natural gas. “Based on sound analysis and forecasts related to market demand trends, we purchase natural gas for immediate use, while putting a certain amount in reserve for emergencies and diversifying our procurement lines as well,” the company said.