KHNP creates new value through advanced technologies in the nuclear energy sector
Korea Hydro & Nuclear Power Co. (KHNP) is the largest company among the six power generating subsidiaries that separated from Korea Electric Power Corporation (KEPCO) in 2001. The company accounts for approximately 25% of electricity producing facilities, hydro and nuclear combined in Korea. KHNP also operates nuclear power plants in Gori, Yeonggwang, Uljin and Wolseong, as well as several hydroelectric power generation facilities in the Hangang system, providing approximately 40% of the nation’s power.
The power industry was restructured to introduce market competition in order to ensure that consumers have a stable supply of affordable electricity through maximum corporate efficiency. Amid these changing market conditions, KHNP’s commercial nuclear power plant operation, which started with Gori Unit 1 in 1978, has operated at 90% capacity since 2000. Meanwhile, KHNP intends to maintain a proper management framework, harmonious labor relations, and high credit ratings while achieving industry leading profitability and efficiency. These ongoing efforts have helped KHNP solidify its market leading position.
KHNP is quickly growing in the nuclear power generation sector. The company added Uljin Unit 5 in July 2004 and Uljin Unit 6 in April 2005 to its existing commercial operations. The additional construction of units, including Shin-Kori Units 1&2, 3&4 and Shin-Wolsong Units 1&2 are now under way, while Shin Uljin Units 1&2 and Shin Kori Units 5&6 are currently in the planning stage. Through this expansion, KHNP is maintaining its stature as a leading power provider in Korea, and ensuring a stable supply under an optimized cost structure.
KHNP emphasizes R&D to acquire technological know-how and expertise comparable to those of G-4 nations under the long-term objective of becoming one of the top powerhouses in the world. With that in mind, medium-to-long-term technology development plans have been set up and are currently under implementation. In addition, a more advanced R&D system has been put in place, and means for maximizing research resources available have been introduced. These efforts combined with the 5% of annual revenue invested in R&D will help make KHNP more effective and efficient.
Meanwhile, KHNP is executing a mid-to-long-term technology development plan, scheduled to last from 2006 through 2015 for the development of a nuclear power technology roadmap. At present, it is concentrating on developing key technologies that will act as new engines for growth, such as new light-water nuclear power technology. In addition, KHNP is participating in developing the nuclear plant of the future, including Gen-IV as well as new and recyclable energy sources under the auspices of the government. Furthermore, KHNP is strongly committed to enhancing its in-house engineering capability.
With an eye toward promoting technical cooperation among nuclear research institutions, KHNP is collaborating with other research entities such as the Korea Electric Power Research Institute (KEPRI), the Korea Atomic Energy Research Institute (KAERI) and the Korea Advanced Institute of Science and Technology (KAIST). These closer relationships are expected to maximize the utilization of research resources for technology development in the nuclear sector. International collaboration with the EPRI in the United States will also help secure top-notch technologies in nuclear energy through joint research projects.
KHNP is maintaining the highest nuclear capacity factor by developing technologies for the operation and maintenance of nuclear power plants. The company is also promoting the safety and economic efficiency of the plants by raising power supply and developing technology to allow increased output and uninterrupted operation. Furthermore, KHNP has come up with new nuclear plant technologies with significantly improved safety and efficiency compared to the existing light-water nuclear plants. These technologies are applied in Shin Gori Units 3 and 4, allowing the creation of new economically value-added benefits.