Kim Dong-cheol, KEPCO President: "Substations Are Neighborhood Facilities, Public Perception Needs Change"

Gwangju 'Bigspo 2024' Press Conference
"Electricity Rates Must Increase for New Energy Industry Development"

Kim Dong-chul, President of Korea Electric Power Corporation, is answering reporters' questions at 'Bigspo 2024' held on the 6th at the Kim Dae-jung Convention Center in Gwangju. Photo by Korea Electric Power Corporation

Regarding the recent delays in the construction of substations due to opposition from some local governments, Kim Dong-chul, President of Korea Electric Power Corporation (KEPCO), emphasized the need for a shift in public perception. He also stressed that electricity rates must be normalized for the development of the energy industry's ecosystem. President Kim made these remarks during a press conference held on the 6th at the Kim Dae-jung Convention Center in Gwangju, as part of the 'BIXPO 2024' event.

KEPCO had planned to relocate the existing power facilities of the Dongseoul Substation, which were exposed outdoors, into a newly constructed indoor building and to expand the 500-kilovolt (kV) high-voltage direct current (HVDC) transmission line facilities. However, construction has been delayed since last August when Hanam City issued a disapproval. HVDC is an essential facility for reliably transmitting power generated on the East Coast to the metropolitan area.

Addressing residents' concerns about electromagnetic waves, President Kim stated, "Measurements showed 1 microtesla, which is far below the international standard of 83 microteslas," adding, "Now, the public should accept substations as neighborhood living facilities, similar to police substations." In fact, the Enforcement Decree of the Building Act classifies substations as first-class neighborhood living facilities. KEPCO has filed an administrative appeal against Hanam City's disapproval.

President Kim reiterated the necessity of raising electricity rates on the same day. Although rates for industrial electricity were recently increased, they still do not cover costs. He said, "From 2021 to 2023, we were unable to fully reflect all the factors for rate increases," and added, "All categories of rates, including residential rates, are still below cost."

In particular, President Kim explained the justification for the rate increase by stating, "According to Bloomberg, global investment in the energy industry will reach $215 trillion (approximately 27 quadrillion KRW) by 2050, making energy a new industry that generates enormous added value. Worldwide, 118 unicorn companies have emerged, but we are not prepared for this." He continued, "KEPCO has been so focused on its own survival that it has failed to fulfill its role as the elder brother of the energy industry."

Meanwhile, KEPCO is hosting BIXPO 2024 at the Gwangju Convention Center from the 6th to the 8th under the theme 'Journey Toward the Future of Energy.' This year’s event features 152 companies exhibiting new technologies and displays 105 domestic and international inventions.

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