Seobu Power Achieves KRW 11.95 Billion in Power Generation Equipment Materials and Components Performance Last Year

Kim Byung-sook, President of Korea Western Power (fourth from the right in the front row), and employees and small business representatives who received awards for localization achievements pose for a commemorative photo. (Photo by Korea Western Power)

[Asia Economy Reporter Moon Chaeseok] Korea Western Power announced that it achieved tangible results worth 11.95 billion KRW last year in the localization process of power generation equipment materials, parts, and components (SoBuJang).

On the 30th, Western Power held the '2019 Localization Development Performance Report Meeting' at its headquarters in Taean-gun, Chungcheongnam-do, becoming the first energy public enterprise to do so, the company announced on the 31st.

The event was held to encourage employees who actively participated in SoBuJang localization and achieved outstanding results, and to express gratitude to the small and medium-sized enterprises (SMEs) that worked together.

At the awards ceremony, 12 employees and 6 departments were recognized for excellent localization achievements in three areas: tangible results, development difficulty, and localization activation.

Appreciation plaques were presented to SMEs that have worked together for localization.

Last year, Western Power promoted 229 localization development projects, raising the localization rate from 22.2% to 25.8%, an increase of 3.6 percentage points. By replacing foreign-made equipment with domestically produced equipment, it created tangible results worth 11.95 billion KRW.

The main contents of the tangible results include ▲saving 1.94 billion KRW by replacing expensive foreign equipment with domestic ones ▲increasing profits by 6.22 billion KRW through performance improvements of key parts of coal pulverizing equipment and gas turbine compressor filters ▲expected results of 2.8 billion KRW through expanded application to other units such as power generation water analysis equipment and periodic replacement parts for coal unloaders ▲and creating social value worth 990 million KRW by supporting the entry of 14 new SMEs participating in the on-site briefing into the power generation industry.

Western Power also focused on removing entry barriers for SMEs and spreading the will for localization. Last year, it consistently held on-site briefing sessions, providing 157 people from 92 companies with opportunities to directly discover technology development items on site.

The 14 companies that participated in the on-site briefing took part in the localization development of 34 items. Western Power invested 990 million KRW to promote win-win cooperation.

For example, Hyundai Environment, which attended Western Power’s on-site briefing, developed products and expanded its sales channels into the construction industry, increasing its sales by about three times.

President Kim said, "Localization development is a task that can only be achieved through long-term cooperation among the private sector, government, and public enterprises," adding, "Western Power will continue to devote itself to localization development with SMEs to secure global competitiveness in the power generation industry."

Western Power began localization for technological independence in the domestic power generation industry under the leadership of President Kim Byung-sook in June 2018, before the trade friction with Japan occurred last year.

It was the first in the power generation industry to form a dedicated organization and establish a localization roadmap suitable for technology development.

Western Power has led localization by boldly institutionalizing the testbed system for power generation equipment, which is necessary to create a technology development ecosystem for SMEs.

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