[Sponsored Report] World’s one stop for nuclear power

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[Sponsored Report] World’s one stop for nuclear power

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The KOPEC headquarters building in Yongin, Gyeonggi Province.

The Korea Power Engineering Company, in cooperation with KEPCO Consortium, secured a $40 billion nuclear power project near the end of 2009, in line with a rising global interest in the technology.

KOPEC is the key company for nuclear power in Korea and the only one working on nuclear power plant architecture and NSSS design. The APR1400, a 1,400-megawatt internationally competitive nuclear reactor, was exported for the first time in December 2009.

Celebrating its 34th anniversary last year, KOPEC announced its 2020 New Vision of Global Power.

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Since the local electricity market is already saturated and the nuclear and thermal power markets are shrinking, KOPEC needed to increase its competitiveness to survive. The company needed a groundbreaking new strategy to overcome its limitations.

The goal of KOPEC’s New Vision is to enter the top five power plant companies, with total sales of 5 trillion won, by 2020. As last year’s sales were 442 billion won, the goal is very chal-lenging: 11-fold growth in 10 years. The firm is betting on three major strategies: total solution business reinforcement, expansion in the global market and technological development.

KOPEC plans to promote vertical and horizontal expansion based on its design experience and technology. The company plans to concentrate mostly on nuclear power generation and thermal plants. Demand for one-stop design-build contracts is increasing, so the company plans to perform engineering, procurement and construction services to raise sales. It also plans to diversify into green business and operations and maintenance.

To advance into the overseas market, KOPEC is building cooperation with related firms like the Korea Electric Power Corporation. Later it plans to start smaller businesses and in the long term participate in larger projects as an EPC contractor.

The company will increase its investment in technology and use it as a dynamic force for development. By creating new nuclear, thermal, carbon capture and pollution prevention tech-nologies, KOPEC will secure strong initiatives to expand on the local and overseas markets.

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