|KOMIPO CEO Choi Pyeong-rak|
Established in April 2001, after a spinoff from Korea Electric Power Corp. as part of the Korean government’s restructuring of the industry, KOMIPO has achieved steady and remarkable growth, embracing challenges and proving excellence in power plant technology and management capacity.
Establishing itself as a thermal power-specialized public company in Korea and beyond, KOMIPO now accounts for 10.1 percent of Korea’s electric power supply through seven business sites, including its Boryeong Thermal Power Site Division, the largest power generation complex in Korea.
In addition, KOMIPO jointly operates power generation businesses with Hyundai Steel, an integrated steel mill under the umbrella of Hyundai Motor Group, using blast furnace gas.
Moreover, along with other major private enterprises, KOMIPO reflected two new large-scale power plant projects included in Korea’s 6th Basic Power Supply and Demand Plan (2013-2027), including the Tongyang Power Construction Project in Samcheok and the Combined Cycle Power Plant Construction Project.
Based on its outstanding power plant construction and operating expertise gained in the domestic market, KOMIPO became the first domestic power company to advance into overseas markets.
Its Construction & operations of the Cirebon Thermal Power Plant in Indonesia is the first overseas coal-fired thermal power plant project won in an international bidding among Korean public enterprises.
Furthermore, KOMIPO operates two units of a thermal power plant with a capacity of 600 megawatts in Tanjung Jati, Indonesia.
KOMIPO also concluded MOUs for a power purchase agreement with the Pakistani and Indonesian governments for the first time and is carrying out other generation businesses briskly, including PV generation projects in the U.S. and Japan.
KOMIPO boasts of outstanding power generation facility operating technology. The Boryeong Thermal Power Plant Unit 3 set a world record of trouble-free operation for 5,000 days last month.
Moreover, the company broke ground on Sept. 30 to build a large-scaled LNG-powered underground power plant by 2016.
KOMIPO is harvesting significant achievements not only in sales growth but also in its contributions to society.
To respond actively to changing business environment in the energy scene, KOMIPO recently declared a new vision targeting a “global top energy company” by 2025 with the concentration of all its capabilities company-wide.
Centering on three core values ― basics, growth and substantiality ― KOMIPO intends to contribute not only to improving the quality of life for citizens and industrial development through the stable supply of electric power but also continuously grow as a public power company that disseminates Korea’s excellent power generation technology overseas.
By Choi Pyeong-rak, KOMIPO CEO