Jungbu Power Generation, First Power Company to Obtain In-House Venture Certification

"Development of Eco-friendly Power Generation Equipment Technology and Market Expansion in Safety Management"

An employee of Korea Midland Power poses for a commemorative photo holding the certificate of venture company certification, the first in the power generation industry. (Photo by Korea Midland Power)

[Asia Economy Reporter Moon Chaeseok] Korea Midland Power's in-house venture has become the first power generation company to obtain venture company certification from the Korea Technology Finance Corporation.

On the 26th, Midland Power announced that its in-house venture, Komitia, was the first among power generation company in-house ventures to acquire venture company certification.

Midland Power attributed this certification to the results of efforts made since July 2018, when it began selecting and supporting in-house ventures.

Last year, it launched VENTURETOPIA, a differentiated in-house venture nurturing program, and worked to enhance support systems such as operational system improvements and market access support.

Komitia, as the first in-house venture of a power generation public enterprise, expanded its business items into the field of developing a power plant risk area safety management platform utilizing the Internet of Things (IoT).

It is also focusing on developing power plant disaster and safety accident prevention projects using 4th industrial revolution technologies, such as worker safety management (intelligent monitoring system for ladder safety accident response) and marine pollution prevention (surface drones for removing marine pollutants).

Midland Power also established two additional in-house venture corporations last year.

They entered the eco-friendly power generation equipment market with products such as 'oxidized iron dust collector and zero use of foaming agents for liquefied natural gas (LNG) power plants' and 'foam removal device for warm water discharge outlets,' securing contracts worth approximately 1.8 billion KRW.

They also developed a 'smart buoy for tracking discarded fishing nets' by establishing a citizen-employee joint in-house venture, which won the Minister of Oceans and Fisheries Award at a startup competition.

Park Hyung-gu, president of Midland Power, stated, "We will spare no support to ensure that Midland Power's in-house ventures can play a leading role in technology development and market expansion in eco-friendly power equipment and safety management fields."

President Park added, "Through this, we will do our best to contribute to realizing social values such as job creation in the private sector."

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