KEPCO Forms Presidential Selection Committee for 'New CEO'... "Kim Jong-gap's Reappointment Undecided"

[Sejong=Asia Economy Reporter Joo Sang-don] As the term of Kim Jong-gap, President of Korea Electric Power Corporation (KEPCO), expires this April, KEPCO has formed an Executive Recommendation Committee (ERC) to select a new president. This is due to the fact that the decision on whether to renew Kim's term has not been made even two months before the expiration of his term.

On the 16th, a KEPCO official said, "In accordance with the regulation that the ERC must be formed two months before the term expires, the ERC was recently formed," adding, "However, the procedures for the upcoming recruitment, including whether Kim will be reappointed, have not yet been decided."

Forming the ERC does not necessarily mean the president will be replaced. If Kim's reappointment is decided before the recruitment process begins, the ERC will be dissolved. According to KEPCO's ERC operation regulations, if the president is reappointed, the recommendation of the ERC is not required.

According to the Public Institution Operation Act, the term of a public enterprise president is three years, with the possibility of renewal on a one-year basis. Kim's term expires on April 13.

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