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Korea Southern Power, a state-owned electric power supply company, pledged to contribute to local economic growth and support energy businesses in Busan, where it recently relocated its headquarters.
The company, which is in charge of 12 percent of the country’s total electric power supply, moved its headquarters to Busan International Finance Center in October, in line with the government’s balanced national development plan.
“With our move to Busan, KOSPO will seek ways to boost the local economy as a member of society,” said Kim Tae-woo, CEO of KOSPO.
“We will pursue shared growth by working together with talented manpower and rich resources here.”
Upon its arrival in Busan, KOSPO signed a project agreement with the Busan city government in October to support leading local power firms that have high potential to drive the local economy.
The aim of the “Glocal” project, is to nurture regional small and medium-sized enterprises so that they can become global firms and help drive the city’s economic growth.
“We will put our utmost efforts into becoming a leading energy company in Busan and in the world by nurturing hidden champions and job creation. We will also work on corporate social responsibility to serve society,” Kim said.
The company pledged to fund 5 billion won ($4.5 million) by 2016 to support 10 Busan-based firms in specialized technology development and commercialization of their business plan.
Five companies, including turbine part manufacturer TurboPowertech and KOMECO, which specializes in ship automation, were selected for the project this year.
“The agreement will be a huge help to enhance the development of the energy industry in Busan and economic vitalization,” Busan Mayor Seo Byeong-soo said.
KOSPO also announced four management policies to realize its vision of becoming a global top 10 power company.
The KOSPO CEO suggested the stabilization of electric power supply, achievement of sustainable growth, pursuit of creative business management and expansion of trust-based management as the main policies for strengthening the company’s competitiveness.
Last year, KOSPO posted 7 trillion won in sales.
By Park Han-na (hnpark@heraldcorp.com)
The company, which is in charge of 12 percent of the country’s total electric power supply, moved its headquarters to Busan International Finance Center in October, in line with the government’s balanced national development plan.
“With our move to Busan, KOSPO will seek ways to boost the local economy as a member of society,” said Kim Tae-woo, CEO of KOSPO.
“We will pursue shared growth by working together with talented manpower and rich resources here.”
Upon its arrival in Busan, KOSPO signed a project agreement with the Busan city government in October to support leading local power firms that have high potential to drive the local economy.
The aim of the “Glocal” project, is to nurture regional small and medium-sized enterprises so that they can become global firms and help drive the city’s economic growth.
“We will put our utmost efforts into becoming a leading energy company in Busan and in the world by nurturing hidden champions and job creation. We will also work on corporate social responsibility to serve society,” Kim said.
The company pledged to fund 5 billion won ($4.5 million) by 2016 to support 10 Busan-based firms in specialized technology development and commercialization of their business plan.
Five companies, including turbine part manufacturer TurboPowertech and KOMECO, which specializes in ship automation, were selected for the project this year.
“The agreement will be a huge help to enhance the development of the energy industry in Busan and economic vitalization,” Busan Mayor Seo Byeong-soo said.
KOSPO also announced four management policies to realize its vision of becoming a global top 10 power company.
The KOSPO CEO suggested the stabilization of electric power supply, achievement of sustainable growth, pursuit of creative business management and expansion of trust-based management as the main policies for strengthening the company’s competitiveness.
Last year, KOSPO posted 7 trillion won in sales.
By Park Han-na (hnpark@heraldcorp.com)
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Articles by Korea Herald
