[Exclusive] Signs of 'Hasty Promotion' of Korea Electric Power University... Establishment Plan Approved Before Blueprint Released

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Fireworks Exploding at Korea Energy Engineering University
(Naju=Yonhap News) Reporter Jo Namsu = On the morning of March 2nd, fireworks exploded at the entrance ceremony and vision proclamation ceremony held at Korea Energy Engineering University in Naju, Jeollanam-do. Korea Energy Engineering University, which welcomed its first freshmen on this day, is the world's first energy-specialized research and startup-focused university, operated as a small elite university with 400 undergraduates (100 per grade) and 600 graduate students. [Joint Coverage] 2022.3.2
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[Asia Economy Sejong=Reporter Lee Jun-hyung] It has been revealed that Korea Electric Power Corporation (KEPCO) approved the establishment plan for Korea Energy Engineering University (KEPCO Tech) before even formulating the master plan for the university. Initially, KEPCO had commissioned a foreign consulting firm to create the master plan for KEPCO Tech, spending 4.1 billion KRW. There are criticisms that the establishment process was hastily pushed through to open the university within the Moon Jae-in administration's term.

According to materials submitted by KEPCO to the office of Park Soo-young, a member of the People Power Party, on the 11th, KEPCO signed a contract in March 2018 with the American consulting firm Kearney (formerly AT Kearney) for the "Master Plan Establishment for KEPCO Tech." The contract amount was 4.07 billion KRW. Kearney began working on the master plan in April 2018 and submitted the final version in September of the following year.

The master plan included detailed aspects such as KEPCO Tech's vision and direction, organizational structure, and faculty recruitment plans. Kearney also analyzed that establishing and operating KEPCO Tech would require 828.9 billion KRW by 2025. This estimate included 621 billion KRW for campus construction and 207.9 billion KRW for operating expenses such as faculty recruitment. The annual operating cost of KEPCO Tech was estimated at 64.1 billion KRW, including 30.5 billion KRW for staff salaries.

The problem is that the procedures for establishing KEPCO Tech were expedited before the master plan, which included the future budget requirements, was even released. Previously, the Moon administration formed the "KEPCO Tech Establishment Support Committee" in December 2018 and approved the "Basic Plan for KEPCO Tech Establishment" in July of the following year. The core of the plan was that KEPCO would provide several hundred billion won in funding necessary for the establishment and operation of KEPCO Tech. KEPCO held a board meeting in August 2019, immediately after the approval of the basic plan, and approved the "KEPCO Tech Establishment and Corporate Contribution Plan."

Questions have also been raised about the feasibility of establishing KEPCO Tech as presented in the master plan. The master plan included a comparison and review of alternatives such as creating an energy department or a second campus at existing universities, concluding that establishing KEPCO Tech had the highest public interest, corporate viability, and feasibility. In this regard, Jeong Jae-hoon, former president of Korea Hydro & Nuclear Power, recently expressed on social media that "(KEPCO Tech) leaves a regret that other alternatives might have been possible."

Meanwhile, KEPCO Tech became embroiled in controversy over its "hasty opening" following its inauguration ceremony in March. The university opened with only one four-story building on a 400,000㎡ site equivalent to 48 soccer fields. KEPCO Tech lacks infrastructure such as lecture rooms and dormitories, forcing it to rent nearby buildings. The annual rental cost alone amounts to 3.117 billion KRW.

Representative Park criticized, "It is a comedy-like hasty administration that the basic plan was released even before the consulting work was completed," adding, "The government and KEPCO acted like a military operation to open the university before the presidential election." Park further stated, "All KEPCO board members who approved the establishment plan despite knowing the severe financial situation after the nuclear phase-out are guilty of breach of trust."

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