It is always at this time of year where major companies and organizations announce their annual results. In the midst of finalizing and looking back on the company's records, Korea Power Engineering Corporation (KOPEC) held a public meeting on February 4 to deliberate their closing statement and make an official announcement on their management for 2009. According to their final statements, they raised sales of KRW442.3 billion, earnings of KRW96.7 billion, and net profit during the term of KRW82.6 billion for the past year and this record marks the highest in their history. Furthermore, 2009 record illustrates 27 percent increase in sales and 381 percent jump in operating profits, compared with last year's performance.
What drove KOPEC's sales record to the peak is their success in winning the contract of huge businesses such as building nuclear power plants, designing a system for nuclear power plants and thermal power station. Moreover KOPEC in concert with ESCO completed and obtained new contracts for expanding business on renewal energy sectors. On top of that, efficient operation and low cost marketing strategies also played paramount role in producing top grades for 2009. KOPEC shows robust determination to continue on expanding their business overseas; in particular winning the UAE contract of building nuclear power plants has sparkled KOPEC to strive even harder to achieve many more benefits in the road ahead. Due to obtaining the contract with UAE, KOPEC has spread their foreign businesses in Jordan, Turkey and Senegal.
KOPEC and Senegal agreed upon Memorandum of Understanding (MOU) on February 3 that entails an exchange of mutual information and technology and an implementation on mutual cooperation in the field of energy. Additionally, the MOU states that the two nations will collaborate on building thermal power generators, water power generators, renewable energy, nuclear energy, geothermal energy, and sharing technologies via sending professionals back and forth. The MOU between Senegal and Korea pioneered a breakthrough in western Africa and will hopefully mushroom to other neighboring countries. KOPEC claims that they expect more grand contracts with overseas in the future that will lead to a global nuclear power renaissance.
