Nuclear Renaissance
A so-called nuclear renaissance is a new buzz world around the world. South Korea, China, India, and Russia are showing the predominantly state-led and financed continuation of nuclear construction in countries with an existing industry. Some countries are rather preparing to be the hosts of potential newcomers to the nuclear market, the most substantial groups being emerging economies in Asia and the Middle East. The United States have renewed support for nuclear power in countries that have existing industries, but have not built anything new in decades. On February 16, 2010, President Obama acknowledged that the U.S. has a lot of catching up to do in joining the nuclear renaissance." Japan and France have long invested heavily in this industry. Meanwhile, there are 56 nuclear reactors under construction around the world: 21 in China alone; six in South Korea; five in India," President Obama said.
South Korea and Japan, which are already heavily dependent on both nuclear power and imported fuels, have major construction programs. By contrast, only two nuclear plants are under construction in Western Europe and none in the United States. Despite increasingly supportive policy environments, new nuclear is making little progress in most countries where nuclear is state-subsidized and driven by government-set targets. While some experts argue that the project financiers working in energy, wind, solar or natural gas-fired plants remain much safer investments than nuclear.
Here comes the bare necessity of "power planner"-- a planner who can design top quality various plants with great know-how in cost saving. This is exactly what Korea Power Engineering Company is an expert at, and what the company envisions to collaborate with in the global market. How about forming a nuclear community partnership before starting a journey alone
Two Heads are Better than One
Minister Karim Wade, the senior minister of the Ministry of International Cooperation, National Planning, Air Transport and Infrastructure has signed a MOU with President An Seung-kyoo of KOPEC in February of this year. Minister Wade commented, "We recognized KOPEC's excellence through UAE nuclear power plant order. Since our electric power is in great need of improvement, we asked KOPEC to take part in our power project." He proposed the maximization of economic profit between Senegal and KOPEC by KOPEC's participation in the construction of the first 250MW thermal power station in Senegal.
President An Seung-Kyoo said, "We are thrilled to exchange information and knowledge through this MOU contract. Our collaboration will be a stepping stone for the close and continuous relationship between the two nations."
A Tad About KOPEC
Thirty-five years ago, Korea Power Engineering Company (KOPEC) was established straight from the guts. Since 1975, nearly 60 percent of all Korea's power plants have been designed by KOPEC. If you include partial participation, the percentage increases well over 70 percent. The excellence of the KOPEC designs have been proven in various plant performance indices, such as safety, usage factor, and operation and construction cost competitiveness.
President An added, "KOPEC has also acquired and accumulated advanced technological capabilities in diverse environmental fields including the air pollution control system. In the low carbon sustainable growth field, KOPEC has acquired advanced design engineering capability in the new and renewable energy sectors. As a result, KOPEC is now fully capable of providing total integrated EPC Project Services to various energy industries and utilities in Korea and abroad."
Glorious 2009, Here comes the Sun 2010
According to an annual report of the Korea Power Engineering Company Inc (KOPEC), it has achieved its highest performance in 2009 with sales of KRW 442.3 billion, operating profit of KRW 96.7 billion, and net income of KRW 82.6 billion.
Compared to the performance of 2008, sales have increased by 27 percent and operating profit by a mere 381 percent. Net income has also increased by 201 percent. After the successful launching of the IPO, the company has worked to reply to its social responsibilities and increase shareholder value by a resolution of 1,081 won per stock.
The biggest contributors to the success of its record performance are the general design and reactor system design of Shin-Uljin Nuclear Power Plant 1 and 2, general design of the Samcheok Thermal Power Plant 1 and 2, the success of other large businesses, and the enlargement of new energy businesses. In addition, activation of business orders, efficient management and cost reduction efforts are also improving operating profit.
The New Year and New Global Collaboration
In 2010, with the Nuclear Power Plant Orders of UAE, KOPEC plans on strengthening its global debut through new business orders and enterprise branding and therefore continue its growth. Starting with the UAE Nuclear Power Plant design, KOPEC entered the global market and will continue to be active through the export of Korean Nuclear Power Plants in numerous countries involving Jordan and Turkey. After last year's export of business orders concerning improvement design business for research reactors in Greece, KOPEC looks forward to participating in research reactor businesses in the Netherlands and Jordan.
President An Seung-Kyoo of KOPEC said, "With exports of Korean nuclear power plants brought by the worldly nuclear power renaissance and exports to the UAE, we plan on achieving greater returns in 2010. We look forward to greater accomplishments next year due to the strengthening of marketing techniques and management efficiency."
