Korea Power Exchange (KPX) CEO-Chairman Yoo Sang-hee delivers his speech at a ceremony to kick off the 2016 business year.

In his New Year message on Jan. 4, Korea Power Exchange (KPX) CEO&Chairman Yoo Sang-hee urged his executives and staff members to correspond to changing time, shed any unnecessary old habits and drastically innovate.

While delivering the message at a ceremony to kick off the 2016 business year at the KPX headquarters, KPX Chairman Yoo cited his 2016 management catchphrase “hobokgisa,” a Chinese saying that means breaking the old mold. 

Yoo said, “The government has begun to cope with the post-2020 climate change regime earnestly by nurturing such new energy industries as the megawatt market, electric car and energy storage system (ESS). KPX has to make this year a year for preparing new market systems and future power grid regimes.” 

Yoo disclosed his intention to proactively spearhead major issues, departing from its defensive and passive attitude, and concentrate his focus on distributed energy resources and the opening of energy “prosumer” market. 

The following is the gist of his New Year’s message:

“In my 2015 New Year’s Message, I proposed the management catchphrase ‘Ihwanwili,’ a Chinese saying that means calls for turning an unexpected crisis into a blessing in disguise.

“We’ve experienced several hardships in such areas as the government evaluation of public entities’ performances, power grid and market operation and inside and outside communications. We’ve overcome them wisely and turned them into opportunities. 

“The most exciting thing is the harmonizing of management and labor. Our staff’s satisfaction has improved. In particular, an outside evaluation showed that KPX is rated to be the public entity with the most integrity. 

“This year, the government plans to push for the reforming of four areas, including the energy field, so that people sense core outcomes on the third year of its three-year economic innovation plan.

“As you know, power and ICT convergence, eco-friendly energy and energy prosumer is quickly changing the energy paradigm from supply to demand. 

“Of late, the post-2020 climate change pact at the COP 21 Conference in Paris is considered as an opportunity, not a crisis. The government is stressing a plan to utilize a reduction in greenhouse gas emissions as an opportunity to create new growth engines through technology innovation, not the burden it brings. 

“There is a Chinese saying ‘hobokgisa.’ We have to correspond to changes and demands of the times, shed any unnecessary old habits and drastically innovate.

“KPX has to make this year a year for preparing new market systems and future power grid regimes.

“First, we have to prepare for new market systems. First of all, we should devote ourselves to opening distributed resources and energy prosumer markets.

“Second, we have to establish processes for operating power grid in conformity with the improving of market regimes.”

KPX headquarters building in Naju.(Photos:KPX)