Kim Dong-cheol, KEPCO President, "Fundamental Reform Needed to Meet Public Expectations"... Lunar New Year and Chuseok Support Payments Abolished

Emergency Management and Innovation Committee Discussion Meeting Held

Kim Dong-chul, President of Korea Electric Power Corporation (KEPCO), emphasized to employees that "bold changes and fundamental reforms that meet the public's expectations must come first."

On the 25th, President Kim held a discussion meeting of the 'Emergency Management and Innovation Committee,' attended by executives, the chairman of the board, external advisory members, and heads of departments and offices at headquarters, to review detailed action plans for crisis response and pledge future advancement.

Launched in September last year, the KEPCO Emergency Management and Innovation Committee, led by Chairman Kim, serves as a focal point for transforming the company’s structure by overhauling existing systems and contributing to national future growth through change and innovation.

Kim Dong-chul, President of Korea Electric Power Corporation (center), is speaking at the Emergency Management and Innovation Committee discussion held on the 25th.

At the meeting, President Kim stated, "Based on an external fair and objective perspective, we must re-examine and improve all existing businesses and operational systems from the ground up," urging, "Let us vigorously leap forward as a global energy company contributing to the nation's future growth."

KEPCO has decided to abolish the 400,000 KRW support payments previously given during holidays such as Lunar New Year and Chuseok, as well as the 100,000 KRW support payments provided on Labor Day, the company’s founding anniversary, and the labor union’s founding anniversary starting this year. Paid holidays for the company and labor union founding anniversaries will also be eliminated.

During the discussion, various internal and external panelists, including external advisory members and young employees within the company, participated in the debate. A KEPCO official explained, "Especially to overcome the unprecedented financial crisis, diverse opinions were exchanged among committee members regarding the timely implementation strategy of the 8.7 trillion KRW financial soundness plan for 2024, innovation plans including office building leasing, and additional self-help measures such as the sale of the Nam Seoul headquarters." The official added, "Through a company-wide organizational diagnosis, innovation tasks for internal structural improvement were also discussed, such as reorganizing the organization focusing on profitability and public interest, reallocating personnel streamlined through digitalization and automation to core issues like facility construction, nuclear power export, and new industries."

Going forward, the committee plans to swiftly execute the selected innovation tasks and continuously review and refine the direction through regular performance checks and feedback systems led by the CEO and subcommittee heads (executives).