Korea Southern Power Co. (KOSPO) is making a fresh start by establishing a new corporate environment vision on the occasion of the 21st anniversary of its founding.
KOSPO held a ceremony to celebrate the 21st anniversary, which coincided with an event to declare a new corporate environment vision under the catchphrase “Beyond Borders, Challenge Next” at Busan International Finance Center on April 5.
The events were designed to remove decades-long practices through a companywide gathering of views and instill a challenging spirit among staffers to brace for a shift to the energy transition.
KOSPO interviewed 230 stakeholders, including labor unions and its cooperative companies, to lend an ear to inside problems, and proposed desirable corporate environment models by designating 21 future innovation leaders whom have so far had a career of less than 10 years.
The power company designated a new corporate environment vision with the catchphrase “Beyond Borders, Challenge Next.” The company set four keywords for corporate environment behavior values: “Integrity,” “Connecting Together,” “Executing Ahead” and “Breaking Through.”
KOSPO executives and staffers vowed to make its members and work worthwhile and recounted the meaning of the new corporate environment vision by watching a related publicity video.
The power company designated its mascots: “greeny” spearheading the new green energy of future and “blueny” creating the blue ocean of new businesses of the future.
Starting with the vision declaration event, KOSPO decided to uproot the old practices and innovate its corporate environment related to tasks, to be overhauled for a long-term perspective, through working-level meetings with management and in-depth interviews with its cooperative companies and present outcome of its changed corporate environment at next year’s anniversary event.
KOSPO President Lee Seung-woo said, “Outcomes of innovation activities for a corporate environment are supposed to come into sight one year later and its success or failure will be determined three years later.”
The success of corporate environment innovation depends on integrity and continuity, and KOSPO is now making a new start to challenge for a new future on the occasion of the 21st anniversary, he added.
KOSPO Ramps Up Safety Management Investments to Prevent Serious Disasters
Korea Southern Power Co. increased safety management expenditures on a project to change an outside coal storage facility into an indoor one, being implemented by the Hadong Bit Dream Headquarters beyond the legally required rate, the power said on April 7.
KOSPO decided to raise safety management costs related to a project to prevent floating coal dust from 1.1 billion won to 3.6 billion, a jump of 2.5 billion won.
The project involves installation of a roof over an outside coal storage facility measuring 150,000 sq. meters in size.
Earlier, KOSPO introduced a smart safety management system designed to monitor employees’ location in real time to build a disaster-free and injury-free foundation.
KOSPO Logs 200 Billion Won in Overseas Sales in 2021
Korea Southern Power’s efforts to ramp up its overseas market presence beyond the saturated domestic market have paid off.
Last year, the power company achieved posted 200 billion won in overseas revenues and 100 billion won operating profit – two important milestones.
KOSPO is stepping on the gas to implement additional overseas projects with a focus on the United States and Vietnam.
In a consolidated financial statement, KOSPO chalked up 221 billion won in overseas sales in 2021, a 37 percent year-on-year surge, and 107 billion won in operating profit, a 102 percent year-on-year jump.