New KHNP President Chung Jae-hoon speaks like a talk show, breaking the conventional mold as he took office as the ninth president of Korea Hydro & Nuclear Power (KHNP) at the KHNP headquarters in Gyeongju on April 5. (Photo: KHNP)

Former President Chung Jae-hoon of the Korea Institute for Advancement of Technology (KIAT) took office as the ninth president of Korea Hydro & Nuclear Power (KHNP) at the KHNP headquarters in Gyeongju on April 5. 

He spoke on a wireless microphone and wore a T-shirt with no tie, making his inauguration ceremony a kind of talk show, breaking the conventional mold.

New KHNP President Chung said an energy policy paradigm shift is designed to achieve an energy transformation in a stable fashion within 60 years. He urged his executives and staff members not to fear such changes as the energy policy shift and seize them up as opportunities to make a leap forward to become a world-class integrated energy company. 

“Let you and me join forces in making a new vision to make it a prouder and stronger company, and I believe now is the time to rise to a world-class integrated energy company that can export new and renewable energies and nuclear power, secure a capability to decommission nuclear power units, and additionally offer comprehensive energy consulting services,” he said. 

The following are excerpts of his inauguration speech. Today is the day when KHNP celebrates the 17th anniversary and I take office as the ninth KHNP president. I feel a sense of heavy responsibility given our company’s function of supplying one-third of the nation’s power via hydro electricity, pumped storage power and nuclear power. 

Last year, the government announced its energy shift roadmap and the 8th power supply and demand master plan, calling for lower nuclear power gradually and expanding new and renewable energy resources. 

But you do not need to be afraid of that. The energy policy shift is designed to achieve energy transformation in a stable fashion with an enough time of more than 60 years and room for maneuver rather than reducing nuclear power with the speed and levels we cannot endure.

You do not need to worry about energy policy shift. The world is changing. Have you ever experienced the changing of the quality of lives, caused by the 4th Industrial Revolution With depending only on hardware of nuclear power, our company has no room to stand up. Look into the reality our company faces in a more objective fashion. There is the phrase “thinking out of the box.” It means no answers in the case of thinking in the conventional perspective (inside the box) and fining paths when you look in a wider perspective out of the box.

If our company has been so far heading for Busan, you have to think only that our destination has changed. 

Let you and me join forces in making a new vision to make it a prouder and stronger company, and I believe now is the time to rise to a world-class integrated energy company that can export new and renewable energies and nuclear power, secure a capability to decommission nuclear power units, and additionally offer comprehensive energy consulting services. Utilizing advanced technologies suiting an era of the 4th Industrial Revolution can enhance the safety of nuclear power dramatically while we could be a winner if we challenge new areas. 

There is a Chinese saying that goes “gyotosamgul.” It means that a smart rabbit digs three caves to brace for a crisis. Our company should become a wise rabbit to become a winner in a rapidly changing environment.

In this regard, I will propose four management tenets. The first thing is to establish principles. When these principles are established and this can be sensed, I believe that the huge gearwheel of KHNP can roll well. 

The second comes the safe operation and construction of nuclear power units. Five nuclear power units now under construction will be built as the safest ones in the world. Let’s devote ourselves to the competing of the successful trial operation and commercial operation of the Barakah Nuclear Unit 1, which is to be dedicated late this year. Let’s realize a smart plant that can dramatically enhance the safety of nuclear power by employing such new technologies as big data and A.I. and utilizing IOT. Third, I call for the realization of social values.

Last, I urge a future-oriented corporate culture.  Our company will have to have a new perspective, fresh viewpoints and ideas to be reborn as a public entity beloved by people. Innovative corporate culture should be our company’s DNA. Let’s communicate with our staff, neighborhood residents, industry community, and civic society.