President Hwang Chang-hwa of Korea District Heating Corp. (Photos: KDHC)

Korea District Heating Corp. (KDHC) is in emergency management mode to cope with the economic fallout caused by the novel coronavirus.

KDHC said on April 20 that the company was entering full-fledged emergency management mode following a kick-off meeting on April 17. An emergency management task force had been in place to minimize the effects of COVID-19.

The step was taken to cope with a drop in sales and profit, predicted to be caused by an economic crisis like international crude oil price fluctuations, instability in the financial markets and the sagging global economy in the wake of the pandemic.

KDHC’s entry into emergency management mode is designed to minimize unstable factors and stabilize the community energy market.

The emergency management task force, headed by KDHC President Hwang Chang-hwa, working-level meetings of each subcommittee, and comprehensive steps, according to each scenario, will be worked out, including detailed ways of coping with a crisis and alternatives designed to carry out public functions.

President Hwang, who presided over the kick-off meeting, called for the establishment and implementation of intensive self-rescue steps through the emergency management task force’s activities. He pledged to ensure a safe, pleasant and convenient energy supply.

Meanwhile, KDHC is the first public entity whose executives have volunteered to return part of their salary to address the shock of an economic crisis, caused by COVID-19. Returned pay amounted to about 94 million won, an equivalent to 10 percent of KDHC executives’ pay.

The money will be used to give a helping hand to people in brackets vulnerable to the woes, caused by the virus pandemic.

It was in February as early as possible that KDHC had established a package of comprehensive steps to provide support to the sagging consumption, stemming from the shrinking of local economies, caused by the pandemic.

The corporation has worked out support measures in three categories – the reinvigorating of local economies, the boosting of traditional markets, and support of SMEs and mom-and-pop businesses.

KDHC is giving Onnuri coupons as part of their salary to its employees who volunteer to do so. The corporation adopted an employee’s idea on the provision of Onnuri coupons in return for part of their salary.

Applicants for Onnuri coupons share the view that returning part of their salary or donating are not just ways to reinvigorate the local economy, but also they will proactive join forces in a drive to boost the local economy through more active consumption at districts.

KDHC officials have been participating in a drive to support local flower growers. Executives and staff members with KDHC headquarters and all 19 business operations purchased flower bouquets and potted flowers worth an about 10 million won.

Floriculture farmers was hit the most as the virus pandemic forced the cancellation of all school graduations, weddings and other events.

President Hwang Chang-hwa of Korea District Heating Corp. (KDHC) presides over a kick-off meeting to launch an emergency management mode on April 17.

KDHC, 1st Public Entity to Set Up Standard Work Site for the Disabled

KDHC signed an MOU to establish a standard work site for the disabled in cooperation with Yeoju City, Korean Employment Agency for Persons with Disabilities, the Purme Foundation and SK Hynix on May 19.

The upcoming standard work site for the disabled is a smart farm combining agriculture and ICT technologies.

It is expected to become an industrial test-bed for energy self-sufficiency and a win-win regional model for both non-disabled people and persons with disabilities.

The smart farm will be created as a multi-purpose cultural space with new/renewable energy experience programs, markets and caffes.

KDHC will supply the energy the smart farm needs via a new/renewal convergence system using photovoltaic power, solar head and territorial heat. The corporation plans to hire about 67 disabled persons with the smart farm by 2023.