[2023 National Audit] Kim Dong-cheol, KEPCO President, "Employees Involved in Solar Power Corruption Will Face Dismissal and the Highest Level of Punishment"

Kim Dong-chul, President of Korea Electric Power Corporation (KEPCO), announced on the 19th, "From now on, solar power corruption will be punished with the highest level of sanctions, including dismissal, depending on the case."

President Kim made this statement during the National Assembly’s Industry, Trade, Energy, Small and Medium Enterprises Committee’s audit of KEPCO, responding to questions related to the solar power generation project corruption involving KEPCO employees uncovered by the Board of Audit and Inspection.

He emphasized, "There has been a somewhat lenient approach to punishing solar power corruption until now," adding, "If reoccurrence happens, we will strictly respond by immediately dismissing those involved."

He also stressed the necessity of raising electricity rates. President Kim said, "To resolve the astronomical debt and deficit, normalization of electricity rates is necessary," but added, "Considering the public’s expectations and the government’s burden in managing state affairs, KEPCO must make the utmost self-help efforts."

He continued, "There will inevitably be differences between KEPCO and the government’s positions, but ultimately there is no disagreement regarding resolving KEPCO’s financial crisis," and said, "However, given the current difficult domestic situation, I think the government’s position makes it hard to fully accept KEPCO’s stance." Regarding the timing and extent of the rate increase, he replied, "We have conveyed our opinions to the Ministry of Industry and the Ministry of Economy and Finance, and discussions are ongoing."

In the audit report presented that day, KEPCO proposed additional self-help measures including ▲ downsizing the head office organization ▲ regionalizing business organizations ▲ early resolution of excess personnel due to workforce reduction ▲ implementation of voluntary retirement, aiming for organizational and personnel efficiency. KEPCO plans to release a '2nd additional self-help plan' within this month, which will include workforce efficiency improvements and additional asset sales. In May of this year, KEPCO announced a financial improvement plan totaling 25.7 trillion won, expanding the existing 20.1 trillion won fiscal soundness plan by 5.6 trillion won to achieve early management normalization.

[Image source=Yonhap News]

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