Jeong Jae-hoon, President of Korea Hydro & Nuclear Power, Likely to be Reappointed... Korea National Oil Corporation Begins President Recruitment

Jaehoon Jeong, President of Korea Hydro & Nuclear Power

[Sejong=Asia Economy Reporter Kwon Haeyoung] Jeong Jae-hoon, President of Korea Hydro & Nuclear Power (KHNP), is expected to be reappointed. Korea National Oil Corporation (KNOC) has begun the recruitment process for a new president.

According to industry sources on the 15th, the Ministry of Trade, Industry and Energy recently sent an official letter to KHNP requesting the reappointment of President Jeong, whose term expires on April 4.

The KHNP board of directors will make the final decision on the reappointment, but inside and outside the Ministry of Trade, Industry and Energy and KHNP, it is widely expected that President Jeong will be reappointed. This is based on the analysis that President Jeong is the right person to respond to the prosecution investigation related to the closure of Wolseong Unit 1, handle the Shin Hanul Units 3 and 4 issues, and continuously pursue the nuclear phase-out policy.

KNOC announced a call for president candidates on the 10th and is recruiting candidates until the 19th of this month. The term of Yang Soo-young, President of KNOC, expires on the 21st of next month. Since KNOC is conducting a new recruitment process, there is speculation that a replacement is more likely. So far, KNOC presidents have been appointed from either CEOs from private companies or internal personnel.

Among energy public enterprises under the Ministry of Trade, Industry and Energy, some have completed the recruitment process for new presidents, drawing attention to the scale of personnel changes. The five power generation companies under Korea Electric Power Corporation (KEPCO)?Namdong, Jungbu, Seobu, Nambu, and Dongseo Power?conducted their president recruitment process last month and completed interviews. After each executive candidate recommendation committee makes a final recommendation, the Public Institution Management Committee reviews it, followed by a shareholders' meeting, and then the Minister of Trade, Industry and Energy recommends the candidate to the President. It is reported that personnel from the Ministry of Trade, Industry and Energy, KEPCO, and the ruling party have applied for the power company president positions.

For Namgu Power, Lee Seung-woo, former head of the Ministry of Trade, Industry and Energy’s National Institute of Technology and Standards, is mentioned, and for Dongseo Power, Kim Young-moon, Democratic Party regional committee chairman of Ulsan Ulju-gun, is mentioned. For Namdong and Seobu Power, former KEPCO personnel, and for Jungbu Power, internal personnel are reportedly being considered.

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