President Yoo Sang-hee of Korea Power Exchange. (Photos: KPX)

In his New Year’s message, President Yoo Sang-hee of Korea Power Exchange (KPX) said the KPX will work out ways of operating new electricity market and power grids in an era of an energy paradigm shift.

“Looking back at the last year, (we) experienced lots of things, and I think all staff members have carried out their responsibilities superbly and unwaveringly despite the difficulties. Since November 2014 when I took office, I have been devoting myself to establishing the KPX as a workplace making staff happy,” he said.

“I have been wishing for making a community in which barriers among positions and departments break apart, and communications with outside stakeholders with an open mind are possible as well as being reborn into a happy organization.”

He said the pending tasks facing the KPX won’t be easy to tackle, and he urged them now to rest on their laurels. He wants the KPX to always keep in mind “Itaeksangju,” which roughly translates as “two lakes are connected to each other, giving water to one other, so one side cannot dry up.”

As such, relations between labor and management are inseparable. They can enjoy prosperity and growth through shared cooperation, he said. This can be applied not just to labor-management relations, but also diverse stakeholders, including member companies. 

No wonder, then, that despite the recent many business environment changes, the KPX’s given mission of operating the power market in a fair and efficient fashion and stabilizing the operation of the power grid has been performed superbly and faithfully.

He urged staff members to ask themselves about their roles and responsibilities and to raise the social values of the organization and ramp up their capabilities.

“To this end, I hope that (our staff) will strengthen communications between labor and management and among departments and positions in accordance with the rationale of itaeksangj, and labor and management will together evolve by establishing a sound discussion environment to further the development of the electricity industry,” he said. 

“(We) have to make efforts to make the year 2018 one year in which we work on ways of operating the market and power grid to brace for an era of energy paradigm shift and take into account environmental factors on top of the conventional focus on feasibility,” Yoo added.

“First, (we) have to establish a new power market regime in which diverse power suppliers can be compensated properly on top of the establishment and operation of an integrated operation and power generation plan system in the wake of the expanding of the size of power grid and a rise in small-sized distributed power.

“Secondly, (we) should raise the implementation, utilization and reliability of demand resources and spur the sound competition of the demand resources market. 

“Thirdly, we need to upgrade a power IT system corresponding to a new energy paradigm shift and establish an integrated new and renewable energy control system designed to ensure inspection, prediction and control of new and renewal resources according to their expansion at the possible earliest date. 

“Fourthly, we have to reconsider the KPX’s roles to brace for the upcoming 4th Industrial Revolution. In particular, we should concentrate on efforts to build a power system conforming to the essential technologies of the upcoming 4th Industrial Revolution, including AI, IoT, big data and robots, analyze their impact on demand, establish a clean, safe power supply system, and strengthen implementation of demand and supply.

“Lastly, I would like to ask you to pay heed to personal health management and leisure activities as important as office duties,” Yoo concluded. 

An overall view of the KPX headquarters in Naju.