Chairman Cho Young-tak of Korea Power Exchange (KPX).

Chairman Cho Young-tak of the Korea Power Exchange (KPX) said, “We have to ponder a Korean-style power market and industrial structure when it comes to the energy paradigm shift, the task of the times.”

“An energy shift plan to focus on eco-friendliness and social acceptance of a conventional power supply plan requires a systematic change in power supply and demand,” said KPX Chairman Cho in his New Year’s message.

He called for realizing a new paradigm for market and power grid in accordance with an energy paradigm shift, and raising the possibility of execution.

The nation will have to consider seriously what power market and industrial structure will suit its energy paradigm shift, he said.

KPX Chairman Cho stressed that KPX will make efforts so that an energy paradigm shift of the power industry may lead to a new leap forward as KPX marks its 20th anniversary this year. The following is the gist of his New Year’s message.

“This year is a year in which our KPX celebrates the 20th anniversary. On the occasion of the 20th anniversary, KPX, seizing this as a starting point of a new take-off, will have to make thorough preparations with a new resolution to make a new leap forward this year. To this end, we need to effectively cope with new tasks, caused by the latest rapid policy environment changes,” he said.

He also said: First, KPX will have to build a strong power exchange despite ongoing crises by ramping up safety and security preparedness as it made headlines in the wake of COVID-19 pandemic and typhoons last year. In particular, we must attach top priority on ensuring safety in construction projects we implement starting this year.

Secondly, Chairman Cho said energy shift plan to focus eco-friendliness and social acceptance to the conventional power supply plan requires a systematic change in power supply and demand plan.

We have to brace for transitional problems that could ensure in the course of raising flexibility in both market and power grid in advance.

Thirdly, he said, we need to proactively respond to energy paradigm shift by exploring new tasks related to our company’s organization and functions on the occasion of the 20th anniversary.

There is “yanggonggoshim,” a saying deriving from a prominent Chinese poet’s work in which a master painter has lots of worry. KPX is required to make painstaking efforts and preparations in the course of carrying out the aforementioned tasks and drawing a blue print for the next 20 years.

In this regard, I would like to suggest three catchphrases we have to ponder.

First, all executives and staff members need to be imbued with a sense of a new identity.

Each one should work with a sense of ownership, departing from his or her related work and own department when it comes to an energy paradigm shift, the task of the times.

Secondly, KPX has to seriously ponder what Korean-type power market and industrial structure will correspond to energy paradigm shift and what will be done to realize it. This will serve as an opportunity to reflect the aforementioned sense of our identity.

Thirdly, KPX should build a new corporate culture I have stressed during my term. I urge you to make efforts to realize cooperation and win-win strategies in the course of mediating a variety of interests by engaging serious discussions with each other to build a new corporate culture corresponding to corporate material infrastructure changes such as massive manpower expansion and a surging membership.

As I have already mentioned, this year is a year in which we complete 20 years and prepare the next two decades, he said.

Looking at people’s growth process, KPX is in a period of a youth aged 20. As people suffer from growth pains, lots of problems our company has experienced for a long period of time and is experiencing are considered growth pains to prepare for the next 20 years, he said.

A view of KPX headquarters in Naju, Jeollanam-do. (Photos: KPX)