[2020 National Audit] KEPCO President "Positive on Reintegrating KEPCO Industrial Development as a Subsidiary"

Attended National Assembly Mountain Committee Audit... "Will Follow Government Decision"

Kim Jong-gap, President of Korea Electric Power Corporation, responding to a lawmaker's question during the National Assembly's Industry, Trade, Energy, Small and Medium Business Committee audit held at the National Assembly in Yeouido, Seoul, on the morning of the 7th. (Photo by Yonhap News)

[Asia Economy Reporter Moon Chaeseok] Kim Jong-gap, CEO of Korea Electric Power Corporation (KEPCO), stated on the 7th that he is positively considering the plan to reintegrate KEPCO Industrial Development, a power plant operation and maintenance company, as a subsidiary.

On the same day, during the National Assembly’s Industry, Trade, Energy, Small and Medium Enterprises Committee’s audit, Kim responded this way to a question from Hwang Unha, a member of the Democratic Party of Korea, regarding the intention to acquire KEPCO Industrial Development.

The push to convert the privatized KEPCO Industrial Development back into a public enterprise began after the death of the late Kim Yong-gyun, who worked as a non-regular worker at the Taean Thermal Power Plant in Chungnam in December 2018.

As a result, a 'Labor-Management-Experts Consultative Body for Power Generation Business' was formed, and they sent an official letter requesting KEPCO to consider reintegrating KEPCO Industrial Development as a subsidiary.

The proposal is to designate KEPCO Industrial Development as a public institution and convert the non-regular workers of power generation public enterprises into regular employees.

Kim explained, "So far, according to the laws related to the operation of public institutions led by the Ministry of Economy and Finance, we have been disposing of shares in KEPCO Industrial Development."

He added, "Under the current circumstances, I think it is also a good option for KEPCO to become the largest shareholder in order to regularize non-regular workers," and said, "We will follow the direction decided by the government."

Sung Yun-mo, Minister of Trade, Industry and Energy, stated, "From the government’s standpoint, we are reviewing the public enterprise conversion of KEPCO Industrial Development in a way that respects the decision of the Labor-Management-Experts Consultative Body."

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