The state-run company garnered the top position for the third consecutive year thanks to its excellent achievements under the leadership of CEO Kim Ssang-soo, including its exports of nuclear power plants to UAE.
In the government's appraisal on management of 96 public institutions, whose result was announced by the Ministry of Strategy and Finance on June 14, KEPCO was selected as the best institution for the third consecutive year.
"The achievement was the result of KEPCO executives and officials' concerted efforts to preoccupy overseas markets, beyond the limit of the domestic market and develop future growth engines,' a KEPCO spokesman said.
"First of all, KEPCO created handsome profits through activation of overseas projects, including its exports of nuclear power plants to the UAE and resources development," he said.
"Secondly, KEPCO established the 2020 New Vision, which suggested the company's future direction, and actively pushed for Smart Grid Project, which leads green growth,' said the spokesman.
"Under the New Vision, KEPCO will concentrate its capability on future-oriented projects and commercialize green technology now under development in the near future. By doing so, we aim to enter the ranks of the world's top five electric power companies with its 2020 sales of KRW 85 trillion, including KRW 27 trillion won in overseas sales," he said.
He also said that the company maximized efficiency of management by carrying out Tear-Down & Redesign (TDR) innovation activity and introducing a system linking electricity charges with fuel costs.
"We introduced 142 TDR tasks under the CEO Kim's new managerial strategy and attained some KRW 420 billion worth of economic effects, including KRW 23 billion through development of compact-type substations and KRW 14.2 billion through development of optimum model of electric power tunnels," he said.
KEPCO also contributed to curbing a 4 percent increase in electric charges through budget saving totaling KRW 1.4 trillion, which broke down into KRW 700 billion through improvement of work style, KRW 90 billion through effectuation of resources, and KRW 600 billion through savings of niche budget.
Exports of Nuclear Power Plant to UAE
Based on its 30-year-long accumulated experience and know-how on operation of nuclear power plants, KEPCO exported USD 18.6 billion worth of nuclear power plants to UAE, emerging as one of the world's top five nuclear power exporters.
Its ripple effect on relevant industries amounts to some KRW 30 trillion, and follow-up exports will reach KRW 40 trillion and it will create new jobs for 110,000 persons, the spokesman explained.
KEPCO also achieved about KRW 600 billion in overseas sales in 2009 and net profit of KRW 124.2 billion, up 11 percent from the previous year, by expanding its business arena to resources development, nuclear power and hydraulic power from thermal power generation in the past.
"For the first time in Korea, KEPCO established an overseas stronghold for resources development by securing 300 tons of uranium annually from Denison of Canada. Through its acquisition of equity of Adaro Energy of Indonesia, the company also secured about 7 million tons of bituminous coal annually," he said.
Meanwhile, KEPCO established a green growth team and a patent team at its technology headquarters and selected eight green technology tasks, including charging infrastructure of electric cars, for intensive development.
"To build infrastructure of low carbon and green growth, the government's major policy task, the company will invest KRW 120 billion in smart grid projects by 2013 in order to preoccupy global technology and develop a new growth green business model,' said the spokesman.
It also won an official commendation from the government in recognition of its exemplary implementation of the government-suggested nine tasks, including manpower reduction and equity sell-offs of subsidiaries.
KEPCO introduced a public competition system for job assignment and implemented large-scale personnel reshuffle based on ability and performance.
It fired 1,440 workers in 2009 as part of its efforts for efficiency of manpower. In keeping with the government's policy to create more jobs, it employed 2,160 youth interns through KEPCO itself and its subsidiaries and spent 63.7 percent of the 2009 budget in the first half.
Rational Improvement of Electric Charge System
KEPCO introduced a system linking electric charges with fuel costs for rational energy consumption and establishment of the foundation for high-quality and stable electric power supply.
"The company also attained the highest degree in terms of customer satisfaction for the 11th consecutive year through introduction of an IT-based operating system. We are now offering one-stop services for welfare discounts to customers through administrative computer networks," he said.
For instance, KEPCO introduced a 20 percent electric charge discount system for households with more than three children in keeping with the government's policy to raise the birth rate.
It also prepared the foundation for advanced labor-management relations by concluding a collective agreement based on laws and principles with the labor union, the spokesman said.