Korea East-West Power Co. (EWP) President Kim Yong-jin.

Korea East-West Power Co. (EWP) is one of the nation’s power companies established under the 2001 scheme of restructuring the domestic power industry. It’s charged with developing power resources and ensuring a stable electricity supply. Starting with the Dangjin Thermal Power Complex, EWP operates four other thermal power complexes ─ Ulsan, Donghae, Honam and Ilsan thermal power complexes. 

The power company also implements small hydro, fuel cell, photovoltaic, and other new and renewable energy business projects. EWP accounts for 9.3 percent of the nation’s total annual power production.

EWP has joined the list of the “2016 Excellent Quality Competitiveness Enterprises," recently announced by the Korean Agency for Technology and Standards (KATS).

EWP has been credited with pursuing customer satisfaction by ensuring a stable power supply through quality innovation. To this end, the power company is striving to save unit costs by easing supply and demand risks by diversifying of suppliers of anthracite coal, an essential raw material. 

As part of efforts to secure future growth engines, EWP strives to expand its stature as a solution provider by sharing the knowhow of Korean biomass power generation solutions. “We’ll do our utmost to realize EWP’s future growth and sustainable management with willingness for quality management,” an EWP official said. 

EWP earned the highest 1st class degree in the 2015 anticorruption evaluation of 268 public entities conducted by the Anti-Corruption & Civil Rights Commission, winning the honor for the fourth year in a row. The power company is praised for establishing a long-term ethics management roadmap and implementing it in a systematic fashion. The power company is noted for obtaining higher points evenly in seven categories. EWP got the highest points in the categories of building anti-corruption infrastructure and incidences of corrupt public office holders. 

EWP also implemented its own integrity activities, including mock ethics courts involving EWP executives, the operation of a post office designed to facilitate communication for integrity, and the hosting of an integrity teleconference. 

The power company strives to continue to carry out integrity policies involving staff members’ voluntary participation to become a top integrity public entity. 

True to “Vision 2030,” which calls for EWP to be the “Most Valuable’ Power Company” by 2030, it has established specific goals — becoming a solution provider; raising power generation capacity to 22,800MW; increasing operating profit to 1 trillion won; and joining the list of “1st class integrity” corporations. The power company is devoting itself to innovating the creation of values to upgrade its level of quality management. These efforts paid off last year. EWP has solidified its foundation to be a global energy public entity that is respected by the people. 

Under the stewardship of EWP’s new president, Kim Yong-jin, the company has adopted the catchphrase “Innovation Leader, Energy World Pioneer” to help guide the company’s vision. Now the company is firing on all cylinders to realize management’s tenets — innovating its mainstay businesses; future creation; performance-oriented; and trust and happiness management. EWP aims at advancing to the level of a “Great Company.”

A view of the Dangjin Thermal Power Complex. (Photos: EWP)

EWP President Stresses Voluntary Innovation 

Korea East-West Power Co. (EWP) President Kim Yong-jin delivered his inaugural speech in which he called for a nimble, creative corporate culture to cope with future changes. The EWP president took office as the sixth CEO of the power company at the EWP headquarters in Ulsan Metropolitan City on Jan. 26.

In his inaugural speech, EWP President Kim said, “Globally, the energy industry paradigm is changing fast.” Demand for eco-friendly energies is mounting across the globe, as the post-2020 climate change regime that made its debut late last year picks up steam, whereas the thermal power industry is losing its foothold. 

“The latter industry could be a victim of progress, Kim said. “We have to be more concerned with how much we can innovative when the energy industry paradigm now change, not an issue of whether we innovate or not,” Kim said. In this context, the EWP president called for the creation of a flexible, creative corporate culture and systems to cope with future changes. 

Stressing the need for a creative corporate culture, Kim urged his officers and staff members to innovate the way they carry out their duties by incorporating the world’s top-rated flexible, creative system and software to the power company’s best smart office in Korea.