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Corporation acknowledging social responsibilities As a spearhead energy corporation, the responsible social contribution of Korea Southern Power Co., Ltd. (www.kospo.co.kr) is becoming a benchmark for other power-related corporations. In fact, Korea Southern Power has illustrated the perfect representation of a corporation's social responsibility. It forged a Society Service Corps in September 2004 based on its CEO's management philosophy and established an integrated system of social service. In fact, the President of KOSPO, Kim Sang-kab, acts as the leader in many different kinds of social contribution activities. It is his management philosophy that corporations must be responsible for solving social problems that the government's hands are out of reach. He regards social contribution activities as an aspect of managerial responsibilities, according to KOSPO's executives involved in its social contributions. Company emphasizes "4 Love Campaign" As an implementation of this philosophy, the KOSPO's One Heart Service Corps is unfolding its "4 Love Campaign" company-wide. It indicates the love for neighbors, rural communities, culture and environment. The organization consists of 8 service corps and 26 service teams in the company's headquarters and plants. Its slogan is "Together with Society, Becoming One with Neighbors." In detail, KOSPO is regularly engaging in service activities once a month by forming a connection with welfare facilities to provide intensive service activities during holidays and year-end celebrations. It is said that KOSPO regularly supports children by teaming up with the Korea Welfare Foundation (www.kwf.or.kr). For the area surrounding power plants the corporation has created a program called "One Stream for One Site." It also participates in athletics and cultural events in the region. Moreover, KOSPO has extended its service activities to a rural farming village through its sisterhood relationship with an agricultural district, dubbed "One Village for One Volunteering Service Corps." As a result, the Corporation has affected a total of 8,920 hours of service activities in which 2,653 people have taken part. It has contributed around 240 million won ($253,000) in monetary support. According to Mr. Kim, CEO of KOSPO, it has also organized a total of 483 volunteer service events. Social generosity not confined to home country Kim explained that KOSPO is strengthening volunteer service activities abroad as well. As part of its overseas volunteer service activities, the corporation's members started a renovation service for aged school facilities in Laos by teaming up with the Korean Pioneers in Overseas NGOs Inc (KOPION) in June this year. It also delivered clothes and living supplies, donated by KOSPO members, to local residents. KOSPO is preparing diverse incentives such as overseas training opportunities for superior members in conjunction with these service activities in order to encourage spontaneous participation, the president said. He added that the corporation is offering incentives for social contribution activities by operating a matching grant system that is to provide financial support to society equivalent to members' donation for realizing the love toward neighbors. The president further emphasizes that KOSPO regards the spirit of service as a basic value of corporate culture so that the information about social service programs is included in their new employee training schedule. Kim elaborates on KOSPO's service activities once again: "First off, above mentioned, KOSPO's One Heart Service Corps is gaining momentum to reaffirm its phase as a global social contribution corporation, as the Corps promoted global village service activity in Laos from June 18 through June 26, this year, including aged school facilities repair and clothing donation." As part of the overseas volunteer service agreement with KOPION, the corporation plans to enlarge the service activities, such as materials and manpower, to developing countries by developing versatile service programs, the CEO said. From August 1 to 3, this One Heart Service Corps has conducted extensive restoration work caused by flood damage in the PyeongChang area, Gangwon province. Also, on September 2, the day of its Second Anniversary, the Corps also collected a welfare fund by holding A Beautiful Saturday Bazaar Event with the Beautiful Foundation. Most recently, KOSPO garnered interest by donating 10 million won worth of medical equipment to Holy Family Hospital with reward received from winning Grand Prize. The company recently received the first place in the 2005 Management Evaluation among the six power generation companies. Social excellence paired with corporate excellence After spun-off from KEPCO on April 2001, KOSPO continues to operate 6 thermal power plants nationwide in Shinincheon, Busan, Youngnam, Namjeju, and Hallim, including Hadong as its main power plant and additional Hangyeong Wind Farm and Cheongpyong Pumped Storage. It accounts for around 12% of the total domestic generation with capacity of 7,571MW. In 2005, KOSPO gained a total turnover of 2.8471 trillion won (approx. $2,976 billion) and a net income of 107.2 billion won (approx. $110 million). It has achieved the highest averages of power generation, thermal efficiency, and utilization coefficients for the past 5 years. Therefore, KOSPO became the leading corporation in terms of power generation as well as management efficiency, the corporation's executives said. Alongside such outward growth, KOSPO also strives for the maximization of corporate value. Its goal is to build a firm foundation of innovation and continuous growth. The socially strong-minded president Kim underscores: "By spreading our characteristic innovation model V-KOSPO companywide, KOSPO has constructed an autonomous management innovation infrastructure, boosting corporate competitiveness by means of elastic organization operation and efficient authority transfer." On top of that, KOSPO's continuous success as a power company lies in developing new energy sources and recycling energy, Kim added. He explained that the corporation is propelling the new and recycled energy businesses to carry out a leading role of future clean energy development. He hopes to bring environmental changes at home and abroad such as an end to the instability of power supply and its demand, and comply with the Tokyo protocols for the purpose of pollution control. Thanks to such effective management and the realization of corporate social responsibility, KOSPO achieved first place in the 2005 Power Generation Company Management Evaluation among the six power companies spun off from KEPCO.