Korea South-East Power Co. (KOEN) operates five power plant complexes, including the Yeongheung, Samcheonpo, Bundang, Yeongdong, and Yeosu Power complexes. The power company is charged with supplying 13.5 percent of the nation’s total power generation. 

On top of such new power plant projects as the Goseong Green Power and Gangneung Eco-Power plant projects, KOEN is aggressively implementing such overseas power generation projects as a photovoltaic power plant project in Bulgaria and Gulpur Hydropower Project in Pakistan. KOEN is a Korean public power entity generating electricity in an economical and eco-friendly fashion with the lowest-ever power generation unit price in Korea. 

KOEN was evaluated as an exemplary public entity in terms of profitability and public interests. The power company ranked 1st in terms of capacity factor for the eighth year in a row; logged the lowest production unit price for the 16th executive year; topped in operating profit for the eighth consecutive year; and registered the highest mark in the shared growth evaluation of public entities for the fifth consecutive year.

The power company’s enviable performance is owed to not only field-oriented small groups’ improvement activities, including quality management circles and circles designed to explore hidden unnecessary costs, but also companywide total productive maintenance (TPM), value engineering (IVA) and recommendation activities. KOEN has been ramping up its capability as a power company by securing its own 10 core technologies. In particular, KOEN has been establishing itself as a leading company spearheading quality improvement activities since  winning a presidential prize in the national quality management circle competition in 2005 and 2006, and grabbing 17 presidential prizes in the competition in 2007. 

KOEN, which declared the new vision “Clean & Smart Energy Leader” in 2016, is now poised to rise to a leading low-carbon, green energy company with the target of raising the portion of new and renewable energies out of its total power generation to 20 percent by 2025. In January 2017, the power company declared its 2nd founding with the goal of becoming the No. 1 energy company. To this end, KOEN is accelerating efforts to achieve the goal by designating nine startup tasks in three areas. 

The power company is conducting diverse regional social contribution activities to align itself with the government’s scheme of relocating public entities and putting public services into practice to promote open innovation and create social values. KOEN has established and implemented a plan to create the “Namgaram Eco-Power Topia” to boost the growth of the regional industry. The power company is spearheading shared growth initiatives by establishing programs tailored to support SMEs. 

KOEN is making strenuous efforts to become a global energy company to secure future growth engines and contribute to the improvement of overall public welfare and the development of Korean industries by ramping the competitiveness of mainstay businesses based on technologies it has accumulated. 

A photovoltaic power plant installed at the Yeongheung Thermal Power Complex. (Photos: KOEN)