On the occasion of the 48th anniversary of its founding, the Korea Electric Power Corp. (KEPCO) presented its new vision to enter global top five rankings by 2020 with green energy. “KEPCO will jack up its sales to 85 trillion won in 2020 from 31.5 trillion won in 2008 to become one of the world’s top five major electric power companies,” said Kim Ssang-soo, CEO of KEPCO. “To achieve this ambitious target, KEPCO will actively push ahead with the four mid and long-term strategies - leading green technology, business diversification, leading the overseas market and maximization of management efficiency,” he said.
Related to this, CEO Kim and staff members have set “Think Green, Triple Sale” as the 2020 slogan. It indicates their firm will to triple its sales through management focused on low carbon and green growth such as green energy. “Based on close labor-management cooperation and mutual confidence, KEPCO will achieve this ambitious target,” he stressed. Noting that the main industry to lead the era of per capita GDP of $30,000 in the future is the electric power industry, he declared, “What we have to do is to build electric power infrastructure and electric power networks everywhere across the globe.”
KEPCO also plans to expand its overseas sales from the existing 500 billion won to 28 trillion won with its portion of the total raising to one-third. To this end, it has decided to integrate overseas business organizations within the group and push for independent management of overseas offshoots. It projects to increase net profits to 5.1 trillion won to attain a net profit ratio of 6 percent, while expanding its green sales by 700-fold to 14 trillion won, the top manager said.
By placing the emphasis on development of overseas resources, it aims to improve its self development rate of resources up to 50 percent from 7 percent. The company expects to double its manpower to 91,000 through M&As with overseas electric power companies. Its total asset volume is expected to rise 2.3-fold to 204 trillion won.
In particular, KEPCO will expand its existing business arena and actively explore new energy resources, while advancing into such new projects as carbon emission rights and electric power IT. KEPCO plans to select seven green technologies, including Integrated Coal Gasification Combined Cycle (IGCC), Carbon Capture and Storage (CCS), Smart Grid, electric car charging infrastructure, heat pump and electric energy house, and invest about 2.5 trillion won in the sectors. Along with this, it plans to add 10.3 trillion won in sales by 2020 through business diversification related to design and supply of facilities, Kim said.
In addition, KEPCO will make a strong push for globalization by entering overseas markets on a gradual basis, considering the degree of attractiveness and specialties of relevant overseas regions. In line with this, it will lower the portion of thermal power to overseas sales by more than half and increase the sales portion of nuclear energy, hydraulic power, new & renewable energy and power transmission, he explained. Commenting that the era of the “smart green utopia” will come in the near future, he said, “KEPCO will become a leader of the global green electric power market through this new vision.”
