[2023 National Audit] Kim Dong-cheol, KEPCO President, "Will Promote Gradual Electricity Rate Increase"

"Timely Implementation of Previously Announced Self-Help Measures Including the Fiscal Soundness Plan"

Kim Dong-chul, President of Korea Electric Power Corporation (KEPCO), stated on the 19th during the National Assembly audit, "We will pursue a phased electricity rate increase reflecting the remaining factors for the rate hike."

President Kim made this remark while attending the National Assembly Industry, Trade, Energy, Small and Medium Business Committee's audit of KEPCO and others on the same day.

President Kim clearly emphasized the necessity of raising electricity rates, saying, "We will pursue a phased rate adjustment reflecting government policy linkage and remaining fuel cost increase factors." He also stated, "We will generate more than 30% of total revenue from sectors other than domestic electricity sales and drastically reduce dependence on electricity rates."

He continued, "We will mobilize all possible means, such as diversifying asset sales and adjusting welfare benefits," and added, "We will downsize the headquarters organization, streamline the organization through regionalization, and reassign personnel to core businesses." He emphasized, "We will promptly implement previously announced self-rescue measures such as the financial soundness plan, continue efforts to overcome the financial crisis including additional asset sales, and execute strong internal innovation and reform at the level of a second founding of the company."

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