KEPCO KPS President Kim Bum-nyun, his executives and staffers attend a ceremony to declare KPS New Deal at KEPCO KPS headquarters in Naju, Jeollanam-do, last Dec. 15. (Photo: KEPCO KPS)

True to its new vision of becoming a “global No. 1 power facility O&M platform company,” KEPCO KPS is trying to reestablish its status by aggressively complying with the government’s Korean New Deal and the paradigm shift taking hold in the power industry.

KEPCO KPS is a public corporation providing total plant solutions, including plant facility diagnosis and performance improvement, O&M at home and abroad.

The new vision calls for KEPCO KPS becoming a platform company capable of spearheading connectivity and interaction with power companies, manufacturing companies, competitors, SMEs and people with the goal of achieving a quantum jump of the maintenance industry.

Among the KPS New Deal initiative is a “maintenance industry platform,” a super ordinate concept that goes beyond maintenance technology itself, which encompasses technology innovation of the maintenance industry, green energy projects, ethic management and industrial safety, and development of a regional society.

KEPCO KPS has come up with four strategy tasks - maintenance technology platform, green technology platform, ethics/safety platform and regional culture platform to achieve the new vision of being the global No. 1 power facility O&M platform company.

The maintenance technology platform task, designed to achieve the digital New Deal, involves a leap into a platform company capable of leading the building of a digital ecosystem of the power industry using the technologies of the 4th Industrial Revolution.

It means that KEPCO KPS will reshape itself from human resources-oriented analog engineering company into a platform-based maintenance service company capable of spearheading the new paradigm of the maintenance industry using digital and AI technologies.

To this end, KEPCO KPS plans to change to a digital-based value-creating company by building a grand platform using big data and AI in four stages by 2030.

The green technology platform initiative calls for being a “green economy realization company” pursuing net zero by shifting into eco-friendly and low-carbon businesses based on digital and eco-friendly energy technology convergence. KEPCO KPS initially plans to expand the green business by complying with the energy paradigm shift.

The ethics/safety platform initiative calls for gaining public trust by building the power facility industry safety ecosystem in compliance with the safety New Deal of the Korean New Deal.

To this end, KEPCO KPS plans to expand its KPS ethics/safety standard regime into industry safety standards of the power maintenance market.

Lastly, the regional culture platform initiative calls for KEPCO KPS to grow into an inclusive company pursing reinforced public interests and realizing social values by contributing to the development of regions.

KEPCO KPS plans to invest 198.3 billion won in the KPS New Deal initiative by 2025 with the goal of creating 5,000 new jobs and supporting 305 SMEs and startups.

KEPCO KPS President Kim Bum-nyun said, “KPS New Deal will be a grand march program to overcome growth stagnation, encompass reinforced public interests and enhance our standing.”

KEPCO KPS aims to be a global No. 1 power facility maintenance industry platform company to jump into digital and green economy and contribute to reinvigorating the national economy.

It aims to spearhead the energy paradigm shift and digital transformation in the power facility sector by implementing the KEPCO KPS New Deal in compliance with the government’s Korean New Deal, he added.