In his New Year message, Korea Western Power Co. (KOWEPO) President Kim Moon-duk said, "External and internal circumstances facing us are demanding our constant changes and challenges."

"In the short-term, we have to ensure the stable operation of power facilities due to an electricity supply shortage that will last for the next two to three years while also focusing on the efficient distribution of limited money and manpower to ensure the smooth progress of several construction projects that will get underway simultaneously,"he added. 

Internally, inter-Korean relations in the wake of the change of the North Korean leadership and the upcoming general and presidential elections slated for this year will be much-talked-about topics, while externally, global economic uncertainties caused by the crisis of the euro will likely put KOWEPO on the hot seat because it has to purchase fuel, obtain funds, and get lots of material and equipment from abroad, he said. 

"However,"he said, "KOWEPO should set challenging goals by taking a united and concerted stand to ensure a stable power supply and make profits and give our fullest efforts to achieve the targets."

Looking back at 2011, Kim said, projects to build Taean Thermal Power Units 9 & 10 as well as the Dongducheon Combined Cycle Power Plant were determined in the fifth power supply plan announced in late 2009; a plan to construct the second phase of the Pyeongtaek Combined Cycle Power Complex was given a green light in August; the nation's first integrated gasification combined cycle power plant project broke ground; and the company expanded its business environs to the exploration of markets in India and Russia. KOWEPO also established KOWEPO Vision 2020, calling for logging $10 billion in sales by 2020. 

CEO Kim presented the following four 2012 management tenets:

First, Kim urged his executives and staff to throw their heart and soul into everything they do. He called for them to do their utmost in examining power plants to ensure there are no breakdowns. He said the seamless execution of all processes ranging from construction to even the most minor ones allow for the birth of world-class power plants that can be operated without a hitch for several decades. 

Second, he called for them to serve as an example for others. Kim urged senior officers to take the initiative, demonstrating leadership to their junior officials by leading an ethical and honest life and communicating with them in a sincere and frank manner.

Third, he called for translating co-prosperity into practice among diverse stakeholders.  KOWEPO has forged partnerships to promote co-prosperity with its SME partners and has laid a foundation for co-prosperity with Taean County, which will emerge as KOWEPO's future growth center. CEO Kim said establishing a foundation for shared growth with stakeholders as members of its family will be the royal road for KOWEPO to follow to become a sustainable public enterprise. 

Lastly, he called for an attitude of endless challenge and undaunted spirit. Attempts to live on past achievements without challenging and taking things seriously would result in a stalemate. Kim urged his staff members to take a stand to proactively seek better opportunities without being content with the petty achievements of the past as means to realizing KOWEPO's vision.  nw