[New Year's Address] Kim Jong-gap, President of Korea Electric Power Corporation, "Introducing Cost-Linked System Is More Important Than Anything"

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[Asia Economy Reporter Moon Chaeseok] Kim Jong-gap, President of Korea Electric Power Corporation (KEPCO), announced that in the new year, the company will strive to become the world's best electric utility company. He also emphasized that the introduction of a transparent and predictable electricity tariff system reflecting costs is the most important task.

In his New Year's address on the 2nd, President Kim said, "We have yet to properly establish the status of 'KEPCO Corporation' and have not sufficiently persuaded the government and the public."

He reflected, "Last year, there were many changes affecting KEPCO's management. In particular, the trends summarized as 3D and 2E?decarbonization, decentralization, digitalization, electrification, and energy efficiency?were strong."

President Kim stated that the introduction of a cost-reflective electricity tariff system is the most important task this year. He said, "This is not about raising or lowering tariffs. A tariff system that timely reflects costs is essential because it benefits not only KEPCO's management but also the nation, electricity consumers, and investors in the long term. Let's make more efforts to gain the consensus of the entire nation."

He urged the optimization of profits across the entire power group companies. He said, "Both the government and the group companies agree with this intention. Let's minimize unnecessary competition and maximize cooperation so that the 11 companies can develop together. As the parent company, KEPCO should make more efforts and show wise conduct by yielding more."

He also encouraged continued efforts to improve financial soundness. President Kim emphasized, "Let's increase efficiency through emergency management and minimize unnecessary waste. Together with the group companies, let's do our best to operate with the most cost-efficient management compared to any electric utility worldwide."

Additionally, he spoke about improving corporate culture together with the power labor union, creating learning organizations by department, and studying once a week on topics they wanted to learn, aiming to become globally recognized experts.

President Kim said, "KEPCO must take the lead in creating a sustainable energy ecosystem. 'Public interest and corporate nature' are not necessarily conflicting issues, so to achieve a balanced approach, let's actively communicate not only with the government but also with small investors."

He concluded, "Now that KEPCO's direction is set, it is time to accelerate execution. Let's unite labor and management to gain trust and respect from the public, customers worldwide, and business partners through gratitude and positive energy, and build a respected KEPCO together."

This content was produced with the assistance of AI translation services.