CEO Message

POSCO ENERGY is striving to develop from Korea's first and largest private power company to a world-class, comprehensive energy provider.

POSCO ENERGY is the enterprise belonging to POSCO family that specialize in energy, and it is pursuing businesses in the fields of power generation, fuel cell and renewable energy in order to grow into a comprehensive global energy enterprise.

POSCO ENERGY engages in power generation, fuel cell and renewable energy as the energy expert of the POSCO Family and continues to make leaps forward towards the goal of growing into a globally recognized comprehensive energy provider.

POSCO ENERGY has recently completed the construction of Units 7, 8, and 9 at the Incheon LNG Combined Cycle Power Plant, which now boasts a total capacity of 3,412MW, and continues to ensure a reliable supply of electricity across the metropolitan area. We are also operating Off-Gas Combined Cycle Power Plants in Gwangyang and Pohang with the 300MW-grade capacity, which are fueled by off-gas generated from the steel-making process.

We launched a subsidiary company, POSPOWER, as a step to prepare ourselves for advancing into the coal-fired thermal power business, and a 2,100MW-capacity thermal power plant is scheduled to be completed in Samcheok by 2021. In addition to the existing LNG-fired power business, we believe the reliably expanding coal-fired thermal power business will drive our sustained growth throughout the future.

Furthermore, we are planning to deliver 100% locally manufactured fuel cell with the opening of a cell manufacturing facility in 2015. Fuel cell is an eco-friendly, high-efficiency decentralized power source that does not require a transmission network. At present, POSCO ENERGY's fuel cell power plants are in operation and under construction in over 20 locations across the nation. We have successfully opened a 60MW-grade fuel cell power complex in Hwaseong, Gyeonggi-do, which boasts the world's largest scale and testifies to our acumen in executing large-scale projects.

POSCO ENERGY's fuel cell business was recognized as a perfect fit with the Korean government's creative economy policy and selected by the government as a "Flagship Project" that serves as a future growth engine. We plan to further nurture the fuel cell business as the next-generation, export-centered business of POSCO ENERGY. We also believe that our fuel cell, developed on the foundation of POSCO ENERGY's expertise over more than a decade, will serve as a driver for Korea's economic progress.

As for our renewable energy business, we are operating a 14.5MW-capacity photovoltaic power complex in Shinan-gun, Jeollanam-do and are pushing ahead with the construction of a 62.7MW-capacity onshore wind power complex. We are the nation's first energy provider to run a 25MW-grade SRF power plant, which is located in Busan. We are also actively involved in waste-to-energy projects such as supplying the district heating power by using the heat generated from used water treatment.

We are striving to develop into a globally recognized comprehensive energy provider by engaging in overseas projects, including off-gas power generation in Indonesia, coal-fired power generation in Vietnam.

We will remain dedicated to building a brighter world fueled by cleaner energy by pushing our boundaries through various energy projects and realizing our vision "Beyond Energy, Better Life".

Your continued support and interest will serve as the driving force that pushes us forward.

Thank you.

 

President & CEO Dong Jun, Yoon