President Chung Jae-hoon of Korea Hydro & Nuclear Power (KHNP) and Minister Moon Seung-wook of the Ministry of Trade, Industry and Energy (MOTIE), meet with Prime Minister Carell of the Czech Republic Czech and Minister of Industry and Trade Karel Havlicek and attend a ceremony to sign an MOU on cooperation on a new nuclear power project between governments and companies of both countries.

Korea Hydro & Nuclear Power (KHNP), celebrating the 20th anniversary of its establishment this year, is pulling all the stops to become a global integrated energy company.

KHNP has seen its power generation capacity soar to about 29,000MW over two times more than some 14,000MW in 2001 when the power company was spun from Korea Electric Power Corp. (KEPCO).

KHNP has so far demonstrated excellent technologies and a transparent corporate management culture in Korea and abroad as the power company had been designated as an exemplary company in an innovative technology, idea, sustainable growth and integrity perspective.

KHNP, which has declared ESG management, is accelerating efforts to be reborn into a leading eco-friendly company specializing in renewable energies such as hydroelectric, photovoltaic power and wind power.

Business sources said KHNP has been fraught with twists and turns until the power company comes of age. KHNP’s “One-Team, One-Mind” mindset has overcome the difficulties and implemented a variety of ideas and projects.

The power company has been recognized for demonstrating excellent capabilities by sweeping Korean and foreign prominent awards.

The Nuclear Energy Institute of the United States (NEI), established in 1994, held an on-line annual meeting on June 7 in which Hanul Nuclear Power Unit 1 was honored with the Top Innovative Practice (TIP).

NEI awards TIPs to companies which have contributed to improving nuclear power safety with innovative technologies and ideas.

KHNP has been recognized by the global market for demonstrating an excellent technology of improving a process of replacing a reactor head thermal sleeve for the Hanul Nuclear Power Unit 1.

A whole view of the Hanul Nuclear Power Complex. (Photos: KHNP)

KHNP topped the sustainable management report category in the 2019/2020 LACP Vision Awards hosted by the League of Communications Professionals of the United States (LACP), beating about 1,000 global companies.

KHNP has published a sustainable management report to raise reliability related to the implementation of transparent management and social responsibilities since 2007 when it joined the United Nations Compact.

KHNP got 99 points out of the possible 100 points as the power company earned a perfect score in seven out of eight evaluation categories, including description and creativity, to publicize its efforts to ensure sustainable management such as a leap forward as an integrated energy companies.

In Korea, KHNP was inducted into “excellent” entities in the 2020 Public Entity Shared Growth Evaluation, conducted by the Ministry of SMEs and Startups in recognition of its 20-year efforts to raise shared growth.

KHNP President Chung Jae-hoon has played a part in exploring a variety of foreign markets by heading an overseas market exploration team.

The power company has offered support to SMEs in a project to finance 85 percent of the parts, equipment R&D costs.

KHNP inaugurated a task force to localize parts and equipment after the power company imposed restrictions to exports to Korea in 2019. KHNP plans to invest 100 billion won in 100 tasks to localize parts and equipment.

Thanks to these efforts, KHNP was honored with the presidential award by the Ministry of Trade, Industry and Energy in recognition for R&D related to materials, parts and equipment.

KHNP became the first Korean public entity to be inducted into excellent integrity companies by the United Nations Global Compact Korea Association.

KHNP President Chung said, “KHNP has laid foundation to grow into a centennial company by overcoming a variety of difficulties and crises.”

KHNP will be reborn into a reliable global integrated energy company by establishing a communications, integrity and ethics corporate culture based on basics and principles and pride and carrying out shred growth and co-prosperity values, he added.