Dongseo Power Establishes Comprehensive Plan for 'Social Value 2020'

Generated KRW 523.3 billion in performance last year... "Realizing a society that adds value together with the people"
Pursuing 35 major public impact projects including regional long-standing issue-solving fuel cell projects

[Asia Economy Reporter Moon Chaeseok] Korea East-West Power announced on the 31st that it will establish and implement a comprehensive plan for social value this year. The plan includes measures to strengthen the execution of social value and deliver tangible results that the public can feel.

This year's plan reflects the "Public Sector Promotion Strategy for Realizing Social Value" announced by the government last January.

Under the slogan "Adding Value Together + Hap (合)," the plan includes three main directions: "Strengthening the Foundation," "Internalization," and "Sharing & Expansion," along with 13 major initiatives and 35 detailed action tasks.

In particular, the detailed tasks were identified by employees focusing on creating results that the public can experience. From the planning stage, opinions were gathered from management and the Social Value Committee, composed of experts in various social value fields, to select the tasks.

Among these, the "Fuel Cell Project to Solve Local Long-standing Issues" will be carried out with the consent of all residents. This project addresses the local long-standing issue of convenient use of city gas for rural residents.

Earlier in February, East-West Power began construction of an 8MW facility in one pilot village. The plan is to expand to areas such as Uncheon-ri in Paju City (5 villages with a total capacity of 40MW) and northern Gyeonggi Province.

This plan also aims to advance the management system that links performance measurement, management, evaluation, and compensation. Performance measurement indicators will be improved to expand connections with performance evaluations. A participation reward system will be implemented for high performers to strengthen employees' execution of social value.

Following last year, the Ulsan Public Forum will be held again this year. Last year, the forum was attended by public institutions in Ulsan Innovation City and over 40 social economy organizations.

Last year, after establishing the BI of the "Vibrant Energy Power Plant," East-West Power achieved social value results worth 523.3 billion KRW. Key achievements include ▲lowest accident rate among public institutions for contracted construction work ▲zero fatal accident rate for three consecutive years ▲42% reduction in fine dust compared to 2015 ▲one-level improvement in integrity rating, among others.

An East-West Power official said, "We will fulfill the responsibilities and roles of a power generation public enterprise to realize a society that adds value together with the public through creating social value results that people can feel and inclusive innovative growth."