The Ministry of Climate, Energy and Environment (MCEE, Minister Kim Sungwhan) will hold a meeting with the CEOs of the five state-owned power generation companies* on the afternoon of July 14 at the Han River Flood Control Office (located in Seocho-gu, Seoul) to discuss the functional restructuring of the state-owned power generation companies in the era of the energy transformation.

* Korea South-East Power, Korea Midland Power, Korea Western Power, Korea Southern Power, Korea East-West Power

The meeting was organized to discuss ways to strengthen the role of state-owned power generation companies in leading the energy transformation and the direction of functional restructuring needed to support that role, while also gathering input from the five power generation companies for the development of future restructuring plans.

Since February this year, the MCEE has been conducting a research project to explore ways to redefine the roles of state-owned electric power companies. At the project’s interim briefing, held on June 18 at the KEPCO Art Center (located in Seocho-gu, Seoul), interim findings were presented to an audience of more than 200 participants, including representatives from the five power generation companies, experts, and labor unions.

At the meeting, participants will share the findings of the research conducted to date regarding the need for, and direction of, functional restructuring of the state-owned power generation companies. They will also engage in in-depth discussions on the roles the five power generation companies should play in the energy transformation and the issues that should be considered in the process of pursuing future structural reforms.

The MCEE plans to establish a restructuring plan for the state-owned power generation companies within this year by broadly gathering input from stakeholders, including through this meeting.

Minister Kim Sungwhan stated, “The restructuring of the state-owned power generation companies goes beyond a simple consolidation. It is a fundamental redesign of the role public companies should play in the era of the energy transformation.” He added, “Building on the expertise and infrastructure that the five power generation companies have accumulated, we will work together to lead the energy transformation to a renewable energy-centered system and ensure the continued delivery of stable, clean electricity to the public.”

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