KHNP Sharply Increases R&D Outlay to Develop Nuclear Power Technology
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KHNP Sharply Increases R&D Outlay to Develop Nuclear Power Technology
Company unveils plan to augment its 2016 R&D budget by 100 billion won to 202 billion won

27(Sun), Mar, 2016

President Cho Seok of Korea Hydro & Nuclear Power (KHNP).

Korea Hydro & Nuclear Power (KHNP) is dramatically expanding R&D investments to ramp up nuclear power technology capabilities so that make people feel more comfortable and safer.

KHNP announced the plan to augment its 2016 R&D budget by 100 billion won to 202 billion won at a recent workshop on the development of nuclear power technologies for 2016. 

The R&D augmentation initiative is designed to comply with a government policy of boosting investments and contributing to reinvigorating the national economy. 

KHNP has set the basic guidelines for making R&D investment the development of technologies designed to make people feel more conformable and safer; securing international technological competitive edge; the strengthening of policy research designed to communicate with people; and boosting the nuclear power industry’s ecosystem. The power company plans to flesh out details according to those basic guidelines. 

KHNP is working on the development of technologies on the translation of nuclear accident scenarios the way people understand at ease.

As part of its efforts to secure international technological competitiveness, the company plans to develop such technologies as intelligent power technology for passive safety system capabilities designed to prevent such extreme cases as the Fukushima nuclear accident. 

KHNP also plans to pursue policy research designed to communicate with people and boost the nuclear power industry’s ecosystem, build an industry, academic and research circle center to nurture SMEs and localizing parts. 

“We’ll pursue the development of nuclear power technologies for the safety of next-generation people under the post-2020 climate change pact regime through the expanded R&D investments,” a KHNP official said. 

A task force formed among industry, academic and research circles is in place to determine the direction of technology development and plans R&D tasks starting this year. 

KHNP’s new headquarters in Gyeongju. (Photos:KHNP)

KHNP Ushers in ‘Gyeongju Era’

KHNP is to wind up an era of Samseong-dong, southeastern Seoul and move to Gyeongju by the end of March, ushering in a new era of tapping new energy industries and expanding its business arena abroad. The new KHNP headquarters building, a 12-story structure with one basement floor, on a site covering 157,000 sq. meters, has already been constructed. Some 1,000 KHNP staff and officers, as well as 2,000 accompanying family members are moving into the new location. 

KHNP has chalked up the highest-ever business performances under the stewardship of President Cho Seok. President Cho’s taking office as president of the World Association of Nuclear Operators (WANO), has raised the company’s global standing. 

President Cho said he is determined to make this a year for the company to gaining public trust and rising to a global company.

After Regaining Public Trust, KHNP Aims to Become Global Energy Company

In his New Year’s message, KHNP President Cho unveiled his 2016 management buzzword “yeomindongnak,” a Chinese saying that “pledges devotion.” In Cho’s case, he said he’s devoted to bringing joy to people by being on the same wavelength. 

“KHNP wants to make the year 2016 a year for further restoring people’s trust and making a leap forward as a global energy company,” KHNP President Cho said. Inside, Cho stressed human resources development and enhancing technological prowess based on the achievements the power company has made so far. Outside, he emphasized the redoubling of efforts to strengthen KHNP’s global competitiveness. 

“All executives and staff members will join forces so that KHNP can be a company contributing to the national development, a reliable company of people of high integrity, and a company beloved by people. We’ll be reborn as a company trusted by people, a company communicating with people, and a company promoting win-win relations with people,” he said.

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