Giving Up Chuseok and Holidays to Live and Work at the Company... Kim Dong-cheol "I Will Find a Clue to Overcome the Crisis"

At the inauguration ceremony, Kim Dong-cheol, the newly appointed CEO of Korea Electric Power Corporation (KEPCO), who declared a 'second founding' through extraordinary additional measures to improve the financial structure, decided to stay at the headquarters to handle current issues until he finds a way to overcome the crisis. This move is not just about saying "Let's overcome the crisis," but taking action to convey the determination to overcome it to employees and the public.

A KEPCO official explained on the 22nd, "After the CEO's inauguration, he expressed his intention to the executives that 'until we see a clue to overcoming the absolute crisis we face, we will temporarily give up all holidays, including the upcoming Chuseok holiday, and stay at the headquarters 24 hours a day to focus on key issues.' This is part of a desperate measure arising from the recognition that simply addressing the deteriorated financial situation head-on has limitations in informing the public and gaining internal and external sympathy amid KEPCO's life-or-death crisis."

On his first day in office, CEO Kim named his office the 'War Room (Emergency Management Situation Room)' and brought in a cot. He sleeps in his office, eats at the company cafeteria, exercises every dawn at the headquarters fitness center, and actively communicates with employees.

According to KEPCO, CEO Kim plans to receive departmental work reports by next week and discuss with the working-level staff about redefining KEPCO's role, normalizing electricity rates, and extraordinary additional self-help measures, aiming to derive crisis resolution plans as swiftly as possible.

On the 20th, upon his inauguration, CEO Kim emphasized 'change for survival.' He questioned, "Has KEPCO, relying on the protective shield of being a public enterprise, the safety net of government guarantees, and the superior position as a monopoly operator, been complacent and neglectful of future preparedness in the era of global unlimited competition?" He stressed, "KEPCO must undergo a complete transformation in the face of this life-or-death crisis. We must resolutely move forward with the determination of a 'second founding.'"

CEO Kim plans to diversify the revenue structure, which currently depends on power sales for over 90%, and prepare additional financial structure improvement measures. He stated, "In the mid to long term, we must generate more than 30% of total revenue from sectors other than domestic power sales and transform into a 'global integrated energy company' that no one can rival on the international stage. We will accelerate the implementation of the previously announced financial structure improvement plan and devise extraordinary additional measures."

Kim Dong-cheol, the newly appointed President of Korea Electric Power Corporation, is delivering his inaugural speech at the KEPCO headquarters in Naju on the 20th.

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