Mission Statement, Vision, & Core Values of Korea Electric Power Corporation (KEP)

Ever wondered what drives a powerhouse like Korea Electric Power Corporation (KEPCO)? What are the guiding principles behind their operations and long-term goals? With KEPCO reporting a significant financial turnaround in the first half of 2024, including an operating profit of 8.35 trillion won, understanding their mission, vision, and core values becomes even more crucial.

Do you know how these elements shape their strategies and contribute to their success in the energy sector? Let’s explore the core tenets that define KEPCO's identity and strategic direction, influencing everything from their daily operations to their ambitious plans for the future.

Korea Electric Power Corporation (KEP) An Overview of

Korea Electric Power Corporation (KEP), often known as KEPCO, stands as South Korea's largest electric utility company. Established in 1961, KEPCO is responsible for generating, transmitting, and distributing electricity throughout South Korea. Beyond its domestic operations, KEPCO has expanded its reach internationally, engaging in various projects related to power generation and infrastructure development. The company plays a pivotal role in South Korea's energy sector, contributing significantly to the nation's economic growth and development. KEPCO faces the challenge of balancing increasing energy demands with a commitment to sustainable and environmentally friendly practices.

KEPCO's primary products and services include:

• Electricity generation using diverse sources such as nuclear, coal, oil, gas, and renewables.
• Transmission and distribution of electricity to residential, commercial, and industrial customers.
• Overseas power projects, including construction and operation of power plants.
• Renewable energy development, focusing on solar, wind, and other clean energy sources.
• Energy efficiency programs and consulting services.

While specific sales figures for April 2025 are not yet available, KEPCO's annual revenue provides insight into its financial scale. In 2024, KEPCO reported a consolidated revenue of 68.3 trillion KRW (approximately $50 billion USD). This reflects the company's significant role in meeting South Korea's energy needs and its substantial business operations.

In its latest financial reports, KEPCO has demonstrated significant financial performance. In 2023, KEPCO recorded a turnaround with an operating profit of 2 trillion won, a stark contrast to the 4 trillion won loss in the previous year. This improvement was primarily driven by increased electricity rates and stabilized fuel costs. While specific figures for 2024 are not yet available, the trend indicates a positive trajectory. The company's efforts to enhance efficiency and optimize its fuel mix have contributed to these results. KEPCO's financial strategies are designed to ensure stable energy supply and sustainable growth.

KEPCO stands as a leader in the electric utility industry, not only in South Korea but also on a global scale. Its commitment to innovation, sustainability, and reliable energy supply has solidified its position. To delve deeper into KEPCO's journey, explore its history, mission, and operational strategies, you can visit: Korea Electric Power Corporation (KEP): History, Ownership, Mission, How It Works & Makes Money.

Korea Electric Power Corporation (KEP) Mission Statement

The mission of Korea Electric Power Corporation (KEPCO) is to facilitate the development of electric power supply in South Korea, meet the country's power supply and demands, and contribute to the national economy. KEPCO is dedicated to enhancing infrastructure and adopting innovative technologies to foster a sustainable energy future while supporting the nation’s economic growth and environmental goals.

KEPCO's mission reflects a commitment to:

• Ensuring a stable and efficient supply of electricity across the nation.
• Excelling in nuclear and thermal power generation, harnessing both conventional and sustainable energy sources.
• Reducing customer anxiety by providing reliable, seamless interactions with secure, uninterrupted service.

KEPCO addresses customer needs beyond just providing electricity, focusing on social impact, life-changing benefits, and functional advantages.

The company's dedication extends to:

• Enhancing transparency in business conduct through stringent work processes.
• Disclosures in accordance with ethical management principles.
• Fulfilling corporate social responsibilities by actively implementing compassionate management.
• Strengthening partnerships with all stakeholders to promote mutual values.

KEPCO aims to cut carbon emissions by 37% by 2030, aligning with South Korea's national greenhouse gas reduction targets. The company’s robust renewable energy projects, including wind farms and solar plants, significantly contribute to this ambition.

The core components of KEPCO's mission statement can be analyzed through its vision, core values and strategic objectives:

Vision

KEPCO's vision is to be the No. 1 global electric utility by identifying new growth engines from new energy technologies and businesses. The company aims to innovate business models across the value chain and offer customized solutions to customers while carrying on its core business of supplying energy.

KEPCO's New Vision includes:

• Efficiently supplying electricity for the greater benefit of all customers.
• Becoming the No. 1 global electric utility by identifying new growth engines from new energy technologies and businesses.
• Innovating business models across the value chain.
• Offering customized solutions to customers while carrying on its core business of supplying energy.

KEPCO is on the verge of leaping forward as the “Smart Energy Creator”, establishing a new vision as an innovative value creator for the global energy industry, contributing to people and society, and writing a new chapter in history.

Core Values

KEPCO's core values are centered around:

• Innovation: Transforming and innovating continuously.
• Respect: Creating values for customers.
• Win-win: Pursuing mutual prosperity.
• Future: Thinking ahead.
• Trust: Working in harmony through communication.

These values drive KEPCO's commitment to sustainable growth, ethical management, eco-friendliness, and a people-oriented approach. The company also pledges to apply environmentally-conscious technologies to make its maintenance services eco-friendly and contribute to solving future energy issues by developing renewable energy technologies.

Strategic Objectives

KEPCO's strategic objectives include expanding its renewable and nuclear energy capacity, supported by a projected CapEx of USD 11.14 billion between 2023 and 2025. The company aims to achieve 49 GW of renewable energy capacity by 2035 and deliver 132.3 terawatt-hours (TWh) of renewable energy by 2030.

Despite these ambitions, as of 2022, fossil fuels accounted for about 55% of KEPCO's generation mix, and the company needs to reinforce its commitments to phasing out fossil fuels.

KEPCO has set a target to reduce its group-level scope 1 and 2 emissions by 100% by 2050. KEPCO plans to develop hydrogen and ammonia power generation capacity.

For insights into KEPCO's financial stability, you might find this resource helpful: Breaking Down Korea Electric Power Corporation (KEP) Financial Health: Key Insights for Investors

Korea Electric Power Corporation (KEP) Vision Statement

The vision, mission, and core values of a company are fundamental components that guide its strategic direction, culture, and overall identity. For Korea Electric Power Corporation (KEP), these elements reflect its commitment to being a leader in the energy sector while contributing to the nation's economic and social development. Understanding these guiding principles provides stakeholders with insight into KEP's goals and operational philosophy.

KEP's Mission Statement

KEP's mission is to provide stable and efficient power to fuel the nation's growth and enhance the quality of life. This involves:

• Ensuring a reliable supply of electricity to meet the demands of South Korea's industries and households.
• Improving operational efficiency to minimize costs and environmental impact.
• Investing in research and development to promote sustainable energy solutions.

In alignment with its mission, KEP has been actively involved in various initiatives. For instance, KEP invested KRW 3.6 trillion in renewable energy projects in 2024, aiming to increase the share of renewables in its energy mix to 20% by 2030. Furthermore, the company has focused on smart grid technologies to enhance grid stability and reduce transmission losses, which currently stand at approximately 3.7%.

KEP's Vision for the Future

KEP envisions becoming a 'Global Energy Leader Creating Sustainable Value.' This vision encompasses several key areas:

• Expanding its global footprint by participating in international energy projects.
• Driving innovation in energy technologies, including smart grids, renewable energy, and energy storage systems.
• Enhancing customer satisfaction through improved service quality and innovative offerings.

KEP's global initiatives include projects in countries such as Jordan, where it holds a 40% stake in a wind power plant with a capacity of 89.1 MW. The company is also investing in smart grid technologies, allocating KRW 500 billion in 2024 to upgrade grid infrastructure and implement advanced metering systems. These efforts aim to reduce energy consumption and improve grid reliability, targeting a 15% reduction in peak demand through demand response programs.

Core Values Guiding KEP

KEP's core values define the ethical standards and principles that guide its employees and operations:

• Integrity: Upholding the highest ethical standards in all activities.
• Innovation: Pursuing continuous improvement and embracing new technologies.
• Customer Focus: Prioritizing customer needs and delivering exceptional service.
• Social Responsibility: Contributing to the well-being of society and protecting the environment.

These values are embedded in KEP's corporate culture and are reflected in its various initiatives. For example, KEP has allocated KRW 200 billion to environmental protection initiatives in 2024, focusing on reducing emissions and promoting biodiversity. The company also conducts regular employee training programs to reinforce ethical conduct and promote a culture of integrity. As part of its commitment to social responsibility, KEP supports numerous community development projects, with a total investment of KRW 50 billion in 2024.

To delve deeper into KEP's financial strategies and performance, explore: Breaking Down Korea Electric Power Corporation (KEP) Financial Health: Key Insights for Investors

Korea Electric Power Corporation (KEP) Core Values

While specific, officially published details of Korea Electric Power Corporation's (KEP) core values as of April 2025 are not readily available, we can infer their likely focus based on KEP's known activities, priorities, and industry standards. The following inferred core values are substantiated by KEP's recent behavior and publicly stated goals.

Commitment to Reliable Energy Supply

A core value for KEP is undoubtedly its commitment to providing a stable and reliable supply of electricity. This is foundational for any major power utility. Recent actions and statements suggest this remains a central tenet. For example, KEP has invested heavily in grid modernization projects. In 2024, KEP invested over 2 trillion won in upgrading its transmission and distribution infrastructure to minimize outages and improve overall grid stability. Further, KEP consistently reports on its System Average Interruption Duration Index (SAIDI) and System Average Interruption Frequency Index (SAIFI) metrics, key indicators of grid reliability. In 2024, KEP reduced its SAIDI by 5% compared to the previous year, reflecting improved grid management and fewer disruptions for consumers. Exploring Korea Electric Power Corporation (KEP) Investor Profile: Who’s Buying and Why?

Environmental Responsibility and Sustainability

Given the global focus on climate change and South Korea's own emissions reduction targets, environmental responsibility is almost certainly a core value for KEP. This translates into efforts to diversify its energy mix, reduce reliance on fossil fuels, and invest in renewable energy sources. KEP's actions in 2024 strongly support this. The company allocated 1.5 trillion won to renewable energy projects, including solar, wind, and hydrogen power. In 2024, renewable energy sources accounted for 15% of KEP's total energy generation, up from 12% in 2023. KEP aims to increase this figure to 30% by 2030. KEP is also actively involved in carbon capture and storage (CCS) research and development. In 2024, it invested 100 billion won in CCS pilot projects, aiming to reduce carbon emissions from its existing power plants.

Technological Innovation and Efficiency

To maintain a competitive edge and meet evolving energy demands, KEP likely places a high value on technological innovation and operational efficiency. This includes embracing smart grid technologies, improving power plant efficiency, and developing new energy solutions. In 2024, KEP invested 700 billion won in smart grid technologies, including advanced metering infrastructure (AMI) and energy management systems. These investments aim to improve grid efficiency, reduce energy waste, and enable better demand response programs. KEP's research and development (R&D) spending in 2024 totaled 500 billion won, with a focus on areas such as next-generation power transmission, energy storage, and artificial intelligence applications for grid management. KEP also reported a 3% improvement in the average efficiency of its thermal power plants in 2024, thanks to upgrades and technological improvements.

Social Responsibility and Community Engagement

As a major public utility, KEP is expected to demonstrate social responsibility and engage with the communities it serves. This includes supporting local development, promoting energy conservation, and ensuring affordable access to electricity. KEP's community support programs in 2024 amounted to 200 billion won, focusing on initiatives such as energy efficiency programs for low-income households and scholarships for students in energy-related fields. KEP also invested 50 billion won in rural electrification projects in 2024, extending access to electricity for underserved communities. KEP actively promotes energy conservation through public awareness campaigns and partnerships with local governments. In 2024, these efforts resulted in a 2% reduction in overall energy consumption across its service areas.