- “We aim to become a beloved sustainable company by maintaining a solid financial soundness.”
- We would like to express our sincere gratitude to all of our stakeholders, including customers, shareholders, suppliers, and employees, for their unwavering interest and support in the sustainable growth of KEPCO KPS.
There is a worldwide demand for an urgent and genuine response to the climate crisis, with the phrase “global boiling,” beyond global warming, now being used to describe this era. In addition, the issue of instability in energy sourcing due to energy security threats has resulted in serious challenges to the domestic power industry. Despite these environmental, social, and economic uncertainties and risks, KEPCO KPS is striving to achieve eco-friendly maintenance of power generation facilities and provide stable supplies of power by practicing corporate management founded on sustainability.
In 2022, KEPCO KPS further solidified our ESG management system and proactively promoted our commitment to ESG management. With the vision to become a beloved company that achieves sustainable growth with green energy, we have advanced our ESG management strategy and management system and declared our intention to practice environmental management and establish sound governance. At the same time, we delivered a solid financial performance accompanied by growth, profitability, and stability, achieving the highest revenue in our history, year-over-year operating profit growth, and a low debt-to-equity ratio.
We promise to actively practice ESG management centered on the following four pillars.
First, We will strengthen future growth engines by expanding businesses and unique technologies such as nuclear power and renewable energy.
To respond to the government's policy for strengthening the nuclear industry ecosystem, we are actively promoting the nuclear ecosystem by expanding services for domestically operated nuclear power plants and support the new nuclear power plants export activities. KEPCO KPS is actively engaged in carbon reduction activities linked to its main business areas, including hydrogen-fueled power generation and performance improvement projects for aging power generation facilities, as well as renewable energy projects to transition to a carbon-free power source, such as clean hydrogen development, fuel cells, offshore wind power, and ESS development. We plan to expand future growth engines based on these business areas, while also contributing to the establishment of a stable eco-friendly energy supply system. Moreover, we are committed to substantially reducing our corporate greenhouse gas emissions and energy use. We are also joining and supporting global initiatives for carbon neutrality, such as the Task Force on Climate-Related Financial Disclosures (TCFD) and the Carbon Disclosure Project (CDP).
Second, we will strive to promote a safety-first culture and introduce ESG management.
KEPCO KPS operates a people-centered safety management system to create a safe workplace where both employees and external workers can work with peace of mind. We strive to establish a prevention-first culture of safety by proactively discovering and improving harmful risk factors. Furthermore, we are doing our best to secure the safety of workers and the public and maintain the stability of the power supply by concentrating our capabilities and establishing a strict safety management system to establish a safety-first management culture across the industry. In addition, as a leader in the power plant maintenance industry, we will continue to strengthen cooperation with SMEs in the supply chain to adopt ESG management. We will share our technology and know-how with our suppliers and bolster practical support for ESG certification, ESG quality, and safety training.
Third, we will lead transparent and clean management based on ethics and compliance.
KEPCO KPS is committed to becoming a trusted ethical and compliant company by operating out own internal control system, such as establishing the first online audit system as a public company. As part of this effort, we seek to encourage all members to practice ethical management by introducing an ethical management standards model and integrity ethics management compliance (K-CP) to ensure the diversity, expertise, and transparency of the board of directors, and to disclose ESG information in a transparent manner. KEPCO KPS will continue to strive to promote ESG management based on the understanding and trust of stakeholders.
Fourth, we will maintain a sound financial structure through management innovation.
Instability in energy supply due to rising raw material prices is causing a management burden on the entire power industry, such as power generation, maintenance, transmission and distribution. In order to prepare for uncertain environments and preemptively respond to financial risks, KEPCO KPS operates a Financial Risk Management Committee and Profitability Improvement Task Force Team to actively implement improvements such as more effective cost management, minimizing unnecessary expenses, and improving organizational and labor efficiency. We will continue to establish a sustainable growth system through efforts to achieve management innovation and management efficiency by improving business profitability and enhancing systems.
- KEPCO KPS is a public institution in South Korea and leads the world’s power generation equipment maintenance industry, the world’s No.1 “grand platform company” in the power equipment maintenance industry. We will meet the expectations of other stakeholders and fulfill our responsibilities as a sustainable growth company. We ask for a lot of attention and support in KEPCO KPS’ journey to create a sustainable tomorrow for companies and humanity.
Thank you. -
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President
Hong-Yeon Kim
