KEPCO Essay

Korea Electric Power Corporation, better known as KEPCO, is the largest electric utility in South Korea. KEPCO was founded with the objective to facilitate the development of electric power supply in Korea, meet the country’s power supply and demands needs, and contribute to the national economy. KEPCO is responsible for 93% of Korea’s electricity generation. On the 2011 Fortune Global 500 ranking of the world’s largest companies, KEPCO was ranked 271. KEPCO is a member of the World Energy Council, the World Nuclear Association and the World Association of Nuclear Operators.

KEPCO’s areas of business include the development of electric power resources, electric power generation, transmission, transformation, and distribution, as well as related marketing, research, technological development, overseas business, investment, corporate social responsibility and use of its property. KEPCO comprises six power generation companies and four subsidiaries in related business areas. It also owns a stake in four affiliated companies. KEPCO traces its origins to Hanseong Jeongi Hoesa (Seoul Electric Company), founded in 1898 during the Joseon Dynasty.

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The Korea Electric Company (KECO), established through the integration of the Korea Electric Power Company and two distribution companies, Gyeongsung Electric Company and South Korea Electric Company, opened on July 1, 1961. In 1982, KECO became a wholly government owned entity and was renamed the Korea Electric Power Corporation (KEPCO). KEPCO updated current circumstances which already has promoted the human resource practice of the company. Since KEPCO is not a private company, but a public enterprise. It was not that easy to manage those employees with poor performance.

Or rather, contrast to the private companies, which can always manage personnel under the circumstances that employees’ performances are unqualified, the public enterprise such as KEPCO are not that flexible to manage them. For this reason, KEPCO transfers the authority of personnel management from the head office to each branch’s manager. Before the management changed, even those employees with poor performance could get each of their own assigned positions. However, after the improvement of management, branch managers can tell the poor performers mongst all the employees more precisely.

In the update management system, if those poor performers don’t get assigned for any position, they will be assigned into the position called “developing”, which means they still have a long way to go and need to get developed. Since no one wants to be deemed as a laggard and be assigned to that developing position, everyone will worked harder and eventually KEPCO can get their employees’ productivity promoted. Another improvement was related to the promotion system. The former CEO of KEPCO – Lee Jonghoon said, There were so many politicians demanding request for favor in personnel affairs; especially about promotions.

Because we didn’t have exact frame and standard to select person to be promoted. ” KEPCO didn’t have exact systemic standard of the company. So they needed to establish a system executing personnel promotion. Therefore, KEPCO made “6” Level Filtering system for promotion. Both of the branches and head office take part in the evaluation. In the branch level evaluation, there would be team A which consist of employees who’s in the same division of the romotion candidate, and team B consisting of employees who’s not in the same division of the promotion candidate.

Branches managers will take this part. As for the head office level evaluation, here another team A also includes employees who’s in the same division of the promotion candidate. And the team B follows the same rule as that in the branch level evaluation. And after it, a more standard and advanced promotion system was established. References: http://cyber. kepco. co. kr/kepco/EN/A/htmlVlew/ENAAHP002. do? menuCd=EN010102

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