Korea Electric Power Corp. (KEPCO) won the presidential grand prize in the 43rd National Quality Awards ceremony hosted by the Ministry of Trade, Industry and Energy (MOTIE) at COEX in Seoul on Nov. 8.
On top of the presidential award, KEPCO was presented with a combined 42 prizes, including a national quality master’s award, an individual prime minister’s prize, a MOTIE minister’s award, and a presidential award in quality management circle competition. KEPCO plans to solidify a foundation for the implementation of the 4th Industrial Revolution and continue companywide quality management initiatives down the road, a company official said.
True to the vision “Smart Energy Creator, KEPCO,” the power company has set five core values: challenges and innovation for the future; customer respect; social responsibility; and communication & harmony. KEPCO has reestablished the mid- and long-term management strategy plan, calling for the redoubling of corporate values with the strengthening of its overseas presence. KEPCO aims at raising its total sales to 100 trillion won by 2025.
In the overseas business arena, KEPCO plans to complete “KEPCO Global Energy Belt” by implementing 100 projects in 60 countries. If the world’s top corporate value is recognized by markets, KEPCO’s share prices, hovering over 50,000 won per share, are projected to surpass 100,000 won. KEPCO has established a mid- and long-term management roadmap calling for the implementation of four strategies, including the buildup of an energy platform, and eight strategic tasks to correspond to the mid- and long-term management goals.
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Kim Dong-sup, head of KEPCO;s new growth technology division, is presented with the presidential grand prize at the 43rd National Quality Awards ceremony hosted by the Ministry of Trade, Industry and Energy (MOTIE) at COEX in Seoul on Nov. 8.
KEPCO is concentrating efforts to establish strategic financing management plans to ramp up a foundation to achieve the mid- and long-term management goals, ensure transparent and ethic management activities and spearhead a managerial focus on social responsibility.
KEPCO, with a history of 100-odd years, is one of the world’s premier utilities. The power company greatly contributed to the development of the national economy through a stable supply of quality electricity. KEPCO has now grown into a global company as the power company, entering the global marking with the winning of the Malaya thermal power plant in the Philippines in 1995, is now engaged in the implementation of 38 projects in 23 countries.
In the meantime, KEPCO is spearheading new energy industries by pursuing a shift into a “Digital KEPCO” by combining its accumulated power assets and technologies, including A.I., big data, and IoT to brace for the advent of the 4th Industrial Revolution.
KEPCO is also devoting itself to accomplishing its social responsibilities and duties as a public entity as the power company is building an Energy Valley ecosystem, pursuing shared growth and co-prosperity with its cooperative companies, and implementing s Post-2020 Climate Change Regime and putting social responsibility initiatives into practice. On top of winning the presidential grand prize in 43rd National Quality Awards, the strengthening of KEPCO’s capabilities for the future is owed to the efforts of the organization’s personnel, said KEPCO President Cho Hwan-eik.
The power company plans to raise its standing as a top global company by fulfilling its mandate as a public entity committed to promoting the national economy and people’s happiness, he added.
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