Korea South-East Power Co. (KOSEP) grabbed the Presidential Prize in recognition of the company’s enhancing productivity though management innovation at the 39th National Productivity Awards ceremony at COEX in southeastern Seoul on Sept. 9.
KOSEP won the Presidential Prize for the second time since 2013, when the company was presented with the Presidential Award.
Thanks to the highest productivity among power companies, KOSEP has made great achievements in such major management indexes as the government’s evaluation of public entities, unit power generation cost, capacity factor and the lowest purchasing price of bituminous coal.
KOSEP is praised for setting exemplary practices in the public interest and profitability, as the company posted 383.2 billion won in net profit last year, the biggest figure since its inception.
KOSEP has become the first public entity to introduce an entrepreneur system as part of its efforts to ensure autonomy of each independent division and maxed out outcomes by capitalizing on such innovation regimes as TPM, Value Engineering, six sigma, Triz and suggestion.
The company has been credited with removing inefficiencies by building a value chain and conducing activities to create value. It has devoted itself to promoting shared growth by implementing management based on the creative economy and the creation of values, creating new jobs of the private sector, exploring new industries in the power industry field and overseas markets, and nurturing creative manpower.
Thanks to the innovative measures, KOSEP ranked No. 1 in the government’s evaluation of shared growth for the third straight year, and earned the highest class in the government’s 3.0 Management Evaluation of Public Entities.
“Our winning of the National Productivity Award will serve as an opportunity for KOSEP to evolve its corporate productivity a step higher,” KOSEP President Huh Yeop said. He went on to say that KOSEP will strive to become a global energy public entity committed to promoting national development and realizing values for people’s happiness by pushing for continued innovation and further growing through creativity.
Triple Winner of 2015 Asian Power Awards
KOSEP gained global recognition in power generation technology and utilization of facilities as the company was presented with three category prizes of the 2015 Asian Power Awards in Bangkok on Sept. 2 the Innovative Power Technology, Information Technology Project, and Coal Power Plant.
The company won the 2015 award in the ICT field in recognition for introducing an integrated situation room combining management systems of power facilities.
KOSEP was presented with the gold prie in the Innovative Power Technology category for the successful construction and operation of the Circulating Fluidized-Bed Boiler at the Yeosu Thermal Power Complex. The company won the bronze prize in the thermal power facility category.
TRIZ Prize Winner
KOSEP received a special contribution award at the 11th International TRIZ Conference (TRIZfest-2015) at COEX on Sept. 10.
The company became the first public entity to introduce the TRIZ that method many large-sized companies commonly have employed. KOSEP has implemented a commissioned educational program for introducing the TRIZ method. KOSEP became the co-winner of the special contribution award with Samsung Electronics in recognition of the commissioning of a project to build a KOSEP-type TRIZ process. “TRIZfest-2015” was hosted jointly in Korea by the International TRIZ Association and the Small and Medium Business Administration.
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