KEPCO KPS’s quality control circle proved its prominent quality management activities anew.
KEPCO KPS’s circle won the coveted “Gold Award” at the 2016 International Convention on Quality Control Circles (ICQCC) that took place in Bangkok on Aug. 24.
One hundred and twelve circles from 13 countries participated in the competition category of the 2016 ICQCC. KEPCO KPS’s circle got away with the gold award by presenting the theme “Increasing Welding Implementation Rate by Reducing Welding Preparation Time.” In particular, KEPCO KPS has participated in the ICQCC for the 17th consecutive year since 1999 when the ICQCC took place in the Philippines. KEPCO KPS won the latest gold award for the fourth time in a row since 2013 when the Korean company began to participate in the competition category of the convention.
Yoon Hyun-woong, head of the Quality Management Office at KEPCO KPS, said, “This award is owed to the spearheading of the development of power plant maintenance technologies that conform with Korean and international standards.”
He expressed hope the technology announced this time will be applied to many countries, contributing to stabilizing of power facilities.
Under the stewardship of KEPCO KPS President Choi Yeu-geun, KEPCO KPS saw its market capitalization soar 100.6 percent by late 2015 from November 2013 when he took office, according to CEO Score, a corporate management evaluation company. The company posted 215.8 billion won in operating profit in 2014 shortly after President Choi took office, surpassing the 200 billion won in operating profit for the first time since its establishment. KEPCO KPS saw its operating profit decline to 175.2 billion won last year, but sales remain stable at about 1 trillion won.
Under the stewardship of President Choi, KEPCO KPS hit the Dow Jones Sustainability Index List for the seventh consecutive year and went without a serious accident for the 11th consecutive year. The company is now in its heyday under the leadership of President Choi, sources said.
One of KEPCO KPS’s strengths is “lower debt rate policy.” It is a contrast from other public entities, which are struggling with cutting hefty debt loads.
KEPCO KPS’s efforts to diversify overseas business portfolios have paid off. The company signed a trial operation and maintenance contract for the 2X693 MW Safi coal-fired power plant project with Daewoo E&C on March 4. The 18.5 billion won deal is the second turn-key agreement KEPCO KPS has won in Morocco since 2013, when the company won a trial operation and maintenance contract of the Jorf Lasfar thermal power plant project from the African country. KEPCO KPS was awarded a 12.1 billion won ROMM (rehabilitation operation maintenance and management) contract for a thermal power plant in Botswana this past February.
KEPCO KPS had so far primarily focused on such overseas businesses as O&M projects, but the company is diversifying its business portfolios to trial operation and maintenance and ROMM projects.
KEPCO KPS plans to retain its presence in the existing O&M market while ramping up its capability to tap the trial operation and maintenance, as well as ROMM markets, through acceleration of diversification, a KEPCO KPS official said.
Since breaking into the global market, KEPCO KPS has promoted Korea’s top-level technologies and done brisk overseas business in such countries as India, Pakistan, Bangladesh, Madagascar, the Philippines and South Africa.
KEPCO KPS has become a truly unrivaled and leading global company in the power industry, thanks to its high technical prowess and work experience, providing the following services: O&M, retrofitting and overhaul of power facilities; rehabilitation of turbine parts; and the maintenance of transmission facilities and technical training.
As global demand for rehabilitating aging facilities increases, the company is redoubling efforts to seek ROMM (Rehabilitation Operation Maintenance and Management) projects and diversify its business in response to rapidly shifting market conditions.
KEOCO KPS declared the “Vision 2025,” calling for 3 trillion won in sales, raising per capita productivity to 450 million won and increasing the portion of new growth engine projects to more than 38 percent by 2025.
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