Gas Corporation to Reduce Workforce Due to 10 Trillion Won in Outstanding Receivables

[Asia Economy Sejong=Reporter Dongwoo Lee] Korea Gas Corporation, which has accumulated unpaid receivables amounting to 10 trillion won, has downsized 9 organizations and reduced its workforce by 102 employees.

The Gas Corporation announced on the 31st that it implemented this organizational restructuring reflecting the Ministry of Economy and Finance's plan for public institution organization and workforce efficiency.

Along with the downsizing of organizations, the Digital Innovation Promotion Office (formerly the Digital New Deal Division) will be placed directly under the President to strengthen digital innovation utilizing big data and 4th Industrial Revolution technologies. Additionally, the office directly under the Vice President will be reduced and reorganized into a system centered on division heads.

To respond to changes in the energy market, a Strategy Headquarters will be newly established, and the Hydrogen Business Headquarters and New Growth Business Headquarters will be reorganized into a performance-oriented business structure.

The Safety Management Headquarters will be reorganized into the Safety General Office directly under the Vice President of Safety Technology to strengthen the safety management control tower, and a Construction Headquarters integrating construction design and construction departments will be newly established to enhance consistency in work processes and improve efficiency.

To consolidate capabilities, scattered finance-related organizations will be integrated to establish a Finance Department, and to strengthen the company’s core competency in liquefied natural gas (LNG) procurement, a new Import Customs Department will be established and personnel in the trading sector will be reinforced.

In addition, efforts were made to unify overlapping safety inspection functions, expand field personnel, reduce temporary organizations (TF), and promote internal harmony and cohesion within the organization while rationalizing work processes.

President Choi Yeon-hye said, "Through this organizational restructuring, let us transform into a vibrant workplace where all employees create results with responsibility and passion, and a lively Gas Corporation full of communication and harmony."