Korea Western Power 2018

Beyond Energy, Create Happiness

BeyondEnergyCreateHappiness

Korea Western Power(32140) 285, Jungang-ro, Taean-eup, Taean-gun, Chungcheongnam-do,Republic of Korea
T.+82-41-400-1000,1114 www.iwest.co.kr

CONTENTS

Introducing KOWEPO- Message from CEO / 06
- History / 08
- Vision 2030 / 10
- Mission Statement / 12

KOWEPO Business- Domestic Business / 16
- Overseas Business / 18

KOWEPO Future Energy- New Renewable Energy / 22
- 4th Industrial Revolution and R&D / 24

Realizing Social Values- Realizing Social Values / 27

Beyond Energy, Create Happiness

KOREA WESTERN POWER

Message from CEO
History
Vision 2030
Mission Statement

A new dawn ofKorea Western Power begins

Harmony of human technology and environment
creating the greatest energy

KOWEPO Vision 2030

All employees at Korea Western Power (KOWEPO) establish and execute mid tolong-term management strategies to proactively adapt to fast-changing management
environment and policies and create happiness for Korean citizens.

Introducing KOWEPO

KOWEPO Business

KOWEPO Future Energy

Realizing Social Values

President & CEO

Kim Byung Sook
Korea Western Power Co., Ltd

Thank you for your concern and support for
Korea Western Power.
Korea Western Power Co., Ltd (KOWEPO) is a public enterprise for power generation with the remarkable
growth every year since separated from Korea Electric Power Corporation (KEPCO) on April 2, 2001.
KOWEPO is operating and maintaining power generation facilities with a total capacity of 11,310 MW at four
power complexes in Taean, Pyeongtaek, Seoincheon, and Gunsan, which is equivalent to 10% of nation’s
total facilities’ capacity. We, more than 2,350 employees are doing our best to enhance national economic
development and national life by providing stable and economical high-quality electricity.
In line with the government's policy for expanding new and renewable energy generation, we plan to increase
the percentage of new and renewable energy generation up to 20% of our gross generation by 2030, and weare also making efforts continuously to develop new overseas businesses for the next growth engine. We are
involved in power plant construction & operation all over the World such as Indonesia, Laos, Myanmar, andIndia.
KOWEPO pursues the harmony between human and environment. We plan to drastically enhance theenvironmental facilities of coal-fired power plants and adopt new technologies to reduce 61% of pollutant
emission of fine dusts by 2025 compared to 2015.
In addition, we will create a healthy business eco-system through mutual growth and co-existence withbusiness partners and become a good neighbor for local community through various social contribution
activities.
We ask for your continuous interest and participation for our company.
Thank you.

2018 Korea Western Power07

Introducing KOWEPOHistory of KOWEPO

KOWEPO Business

KOWEPO Future Energy

Realizing Social Values

2001

2002

2003

04 Establishment of Korea Western Power Co., Ltd.
09 Declaration of Corporate Philosophy and CI

09 Completion of Taean Thermal Power Plant No.5 and No.6
12 ISO 9001 Certification for All Operation Sites

11 Groundbreaking Taean Units 7 & 8
11 Won the Presidential Prize at National Quality Awards

2007

2006

2005

2004

08 Completion of Taean Thermal Power Plant No.7 and No.8
09 Declaration of Vision 2020

06 Won the beautiful companion prize of the Prime Minister
09 Completion of gas turbine efficiency improvement in
Seoincheon power plant

08 Completion of Taean Solar Power Generating Station
10 Awarded for the Best Practice Prize of Facility Management
10 Won the Grand Prize at Management Innovation
Best Practice Awards

08 Foundation of volunteer group
12 Won the Grand Prize at Safety Management

2008

2009

2010

09 Acquired A Credit Rating from S&P Certified as an excellent
human resource development company
11 Signed the agreement forthe construction of hydro power
plant 390 MW in Laos

06 Technology agreement concluded with GS EPS
10 Agreement on producing solid fuel and utilization ofwaste concluded

09 Completion ceremony of Gunsan combined cycle power plant
10 Won the Grand Prize at Ethical Management
12 Awarded for the Best Company in Plant Business &Academic Cooperation

2014

2013

2012

2011

02 O&M joint corporation established and MOU signedwith Indonesia
11 Declaration of Vision 2025

03 Concluded PF contract with Indonesian shipping terminal
08 CTS recertification for the first time as a power
generating company
12 Signed contract for Sumsel
5-O&M in Indonesia

01 Signed SS-SHA ceremony of maharashtra power generation
11 Groundbreaking Taean Units 9 & 10

08 MOU singed on Laos electric power joint development project
10 MOU signed on power plant construction and O&M participation
with the ‘Pioneer’, India

2015

2016

2017

08 Relocation of KOWEPO Headquarters to Taean-gun
09 Won the 1st in the Sustainability Index
11 Completion of Hwasun wind power generator and ESS

05 Completion of Taean offshore solar power generator
06 Awarded for the Korean Innovation Frontier Award
08 Completion of Taean IGCC

06 Completion of Taean Units 9 & 10
08 ISO 37001 Certification for All Operation Sites
12 Selected as an ace organization in public occupation contest

2018 Korea Western Power09

Introducing KOWEPO

KOWEPO Business

KOWEPO Future Energy

Realizing Social Values

Create the best
Energy in harmony
with Human,
Technology,
Environment
Corporate Philosophy

VisionBeyond Energy, Create Happiness
Energy company creating national happiness

KOWEPO Vision 2030

Managerial
Objective

Installed Capacity ofDomestic Thermal
power plants
15, 843 MW

Installed Capacityof Domestic New &Renewable Energy
Generation 4,268 MW

Reduction Rate ofFine dust
61%

Best company
with Customer’ssatisfaction(20% of total generation capacity)

Sales of Domestic
Thermal power
plants
8.3 trillion won

Sales of Overseas
Power Generation
Business
1.5 trillion won

Reduction Rate ofGreen-house Gas
Emission
23%

The Leader of CSVCore Value

Passion for the Best

Challenge for Growth

Collaboration
for the Future

Trust based on
Communication

Strategic
Direction

Stable Revenue Creation

Expansion of New
Growth BusinessEco-friendly & Stable
Facility Operation

Leading realization ofSocial Value• Expansion of Domestic New& Renewable Energy Sources• Leading the 4th Industrial
Revolution• Strategic Expansion ofOverseas Power Generation
business• Intensification ofProfessional Competencies
for New Business
Development•Implementation of Fine Dust
Emission Reduction plan
• Intensification of Operational
Competencies for
Low-carbon Emitting Power
Generation• Leading Implementation of
New Climate Change Regime• Enhancement of Disaster &Safety Control, Security
system•Willing Implementation ofGovernment Projects• Enhancement of Share Value& Win-Win Cooperation• Continuous Implementationof Local Cooperation• Intensification of practicing
Integrity & ethics

Strategic
Task• Expansion of Highly Efficiency
New Thermal power Plants• Improvement ofPower generation costCompetitiveness• Optimization of Facility
Operation• Development of New
Technology for Facility
Operation

Korea Western Power2018 Korea Western Power11

Introducing KOWEPO

KOWEPO Business

KOWEPO Future energy

Realization of Social Value[ Mission Statement ]KOWEPO is a future-oriented 'energy corporation', and it provides a new strategic
direction to create happiness for Korean citizens. Based on a 'Stable Profit Creation'from its key business sectors, it is growing into an eco-friendly global energy powerhousethrough 'Expansion of New Growth Business'. By 'Eco-friendly & Stable Facility Operation'
in response to an energy paradigm shift and 'Leading realization of Social Value',
KOWEPO will fulfill its social duties as a public enterprise trusted by its people.

Stable Revenue Creation
Expansion of Highly Efficiency New Thermal
power Plants
Improvement of Power generation costCompetitiveness
Optimization of Facility Operation
Development of New Technology for Facility
Operation

Expansion of
New Growth Business
Expansion of Domestic New & Renewable
Energy Sources
Leading the 4th Industrial Revolution
Strategic Expansion of Overseas Power
Generation business
Intensification of Professional Competencies
for New Business Development

We will cement our foundation for sustainability
and future growth through strengthening
profitability in major business sectors.

Based on stable profit, we will secure amomentum for future growth through preemptive
investments in preparation for changes in the
power industry.

Eco-friendly &Stable Facility Operation

Leading realization ofSocial Value

Implementation of Fine Dust Emission
Reduction plan
Intensification of Operational Competencies
for Low-carbon Emitting Power Generation
Leading Implementation of New Climate
Change Regime
Enhancement of Disaster & Safety Control,
Security system

Willing Implementation of Government
Projects
Enhancement of Share Value & Win-Win
Cooperation
Continuous Implementation of Local
Cooperation
Intensification of practicing Integrity &ethicsResponding proactively to the needs of ourtime in the power industry such as environment
friendly and safety issue,, we will secure ourbusiness sustainability based on Korean citizens'trust in us.

We will strengthen our duty to the society as apublic enterprise for proactive compliance togovernment policies and sharing values withstakeholders.

2018 Korea Western Power

13

Domestic Business
Overseas Business

KOWEPO, the exemplary public energy enterprise

Current Status andDomestic & overseas
business plan
A time to begin a new day as the dawn breaks.
Beyond Korea's public energy enterprisecreating happy energy for Korean citizens,
KOWEPO strives to be a new global energy powerhouse.

KOWEPO creates
happy energy that ignites
an energetic morning.

Introducing KOWEPO

KOWEPO Business

KOWEPO Future Energy

Realizing Social Values[ Domestic Business ]KOWEPO is operating 4 power generating complexes in Taean, Pyeongtaek, Seoincheon
and Gunsan, and about 2,300 executives and employees are working very hard to supply
quality power in stable, economical ways.

Mecca of Korean Thermal Power Complexes

Taean Thermal Power Complex Division
The largest thermal power complex in Korea, Taean
Division is a key power plant for KOWEPO accounting
for about 57% of KOWEPO’s total installed capacitywith state-of-the-art automated control facility. Having
implemented the new cyclone desulfurization anddust collection technology for the first time in Korea toreduce fine dust, it is striving to realize an eco-friendly
power plant. It is considered the Mecca of thermal
power plants in Korea through building Taean IGCC,
Korea’s first coal gas thermal power plant (Aug ’16) andKorea’s largest Taean Units 9 and 10 (Oct ’16 and Jun’17), contributing to creating KOWEPO’s future growth
momentum.

Largest Eco-friendly Hub Power Plant in Greater
Seoul Area

Pyeongtaek Thermal Power Complex Division

A clean fuel power plant using LNG

Seoincheon Combined Cycle Power
Complex Division

A city power plant coexisting with local community

Gunsan Combined Cycle Power Division

Pyeongtaek Thermal Power Complex Division is thelargest hub power plant in the Seoul metropolitan area,
contributing to generating power for Korea’s electricity
industry through stabled power generation. The quality
power generated at Pyeongtaek is supplied mostly to theGreater Seoul area and used to stabilize power supply
and maintain system frequency. Striving to contribute to
the society through generating the best energy throughharmony among people, technology and environment,
Pyeongtaek Division will take on the challenge to be the
new center to lead the looming age of the northwestern
sea in the 21st century based on stable power generationand eco-friendly facility operation through securing trust
for power facilities and reducing production cost.

A certified 'green corporation' eco-friendly power plantthat uses LNG, a clean fuel, as its main fuel, Seoincheon
Power Complex hardly creates any environmental
pollution, and its load follow that can flexibly respond toelectric supply requests and a quick unit commitment
capability contribute to a stable operation of the powersystem. Along with a heat supply project that provides
heating to 100,000 households in Cheongla, Shinhyeon
and Gimpo, it operates 15 MW of fuel cell, 1.2 MW ofsolar energy, and it will play a pivotal role in Seoincheon
by securing 35% of new renewable energy ('21).

Gunsan Combined Cycle Power Division is an eco- friendly
power plant using LNG as its fuel to account for 30%
of power demands in the North Jeolla region. Thoughbuilt in the middle of a populous city, it employs strict
environment management and clean fuel, perfectly
solving environmental concerns and contributing to the
local economy. It has applied G-Class gas turbine for the
first time in Korea which also makes it a power plantwith the highest power generation efficiency in Korea.
Gunsan Combined Cycle Power Division will continue
to grow as a prop to the Saemangeum area which issurfacing as the economic center of Southeast Asia.

No. of Units

Installed Capacity

No. of Units

Installed Capacity

No. of Units

Installed Capacity

No. of Units

Installed Capacity

11

6,446 MW72,269 MW16

1,800 MW3

718.4 MW2018 Korea Western Power

17

Introducing KOWEPO

KOWEPO Business

KOWEPO FutureEnergy

Realizing Social Values[ Overseas Business ]In order to respond preemptively to the fast-changing management environment,

Export World's Best Power Plant Operation Capacity

KOWEPO is actively promoting projects outside Korea. Through expanding the existing

Having analyzed the global energy consumption trend based on its experience in operating a world-

foothold for growth such as securing a new platform to advance to global markets,class power plant, KOWEPO has been focusing its resources on coal and gas power generation for

KOWEPO is creating a diversified profit-generating structure for the future.

which a sustained consumption increase is expected, hydroelectric generation which is thought tocreate stable revenue, power plant operation and maintenance (O&M) which can maximize profit withminimum investments using core resources, pilot operation business, aging power plant rehabilitation
operation maintenance and management (ROMM) business and construction management (CM)business using in-house personnel.

Expand Sales in Overseas businessCurrently operating and developing 12 business sectors outside Korea in 9 countries including Australia,
Saudi Arabia, Laos, Indonesia and Panama, KOWEPO is improving facility operation rate by training local
personnel in Korea, conducting routine field inspections, and providing real-time technical support,
preventing facility malfunctions and shutdowns. Based on successful construction of a combinedcomplex (388MW) in India and a hydroelectric plant (410MW) being built in Pakse, Laos, KOWEPO is
promoting a new large-scale hydroelectric project (728MW) along the Mekong River. Also, based on
amicable bonds with the local community in Laos, KOWEPO is evaluating additional projects, anticipatinga subsequent increase in global sales.

Expand Projects Based on Existing Footholds
KOWEPO is analyzing risks and opportunities, working hard to expand market share in markets witha high growth potential. One area of focus is maximizing integration effect of investments and O&M
projects. On that note, KOWEPO has selected Indonesia as the initial target to expand power generation
O&M orders in Indonesia leveraging maintenance personnel and materials at Sumsel-5 O&M, Indonesia
which have been already secured.

Advance to Global New Renewable Energy Arena
Actively utilizing the recently surging global IPP market, KOWEPO is making bold strides into the global
new renewable energy projects; KOWEPO is promoting large-scale projects in Vietnam including asolar panel project (204MW) and wind power project (48MW), a wind power project (50MW) in Iran for
the Middle East and a geothermal power (35MW) O&M project in Kenya for Africa. In response to the

Phunoi Hydro Power, Laos

current global trend, KOWEPO is expanding its territory not only in Southeast Asian growth footholds

728
Rabigh O&M, Saudi Arabia

1,204

such as Laos and Vietnam, but it is also advancing to the biomass power project (100MW) in Japan. Also,

Xe-namnoy Hydro Power O&M, Laos

Maharashtra Combined, India

KOWEPO is the first power generation company to advance to the Australian power market (110MW in

410

solar energy), making bold steps into strong and new global new renewable energy markets to diversify

Punoi Hydroelectric, Laos

388

410

Colon CCPP Commissioning, Panama

380

Floting Coal Terminal, Indonesia
Sumsel-5 O&M, Indonesia

300

revenue structure.

8 million tons/year
Bayan Resources Tbk, Indonesia

Moolarben Mine, Australia

13 million tons/year
Bylong Mine, Australia
Maharashtra Complex, India

In operation

In progress

Xe Namnoy Hydroelectric, Laos

Sumatera Selatan-5 O&M, Indonesia

Rabigh O&M, Saudi Arabia

Installed capacity2018 Korea Western Power

19

New Renewable Energy
4th Industrial Revolution and R&D

KOWEPO leads
future-oriented energy businessfor tomorrowPreparing cleaner, purer energy for tomorrow

New Renewable Energy,
4th Industrial Revolution
and R&D
As a public energy enterprise, KOWEPO will fulfill its public duty with a newrenewable energy roadmap 3020 for a transition into safe, clean energy.
Surfing over the wave of the 4th Industrial Revolution with early investments
and R&D, KOWEPO is fulfilling the dream of a future-oriented energy company.

Introducing KOWEPO

KOWEPO Business

KOWEPO Future Energy

Realizing Social Values[ New Renewable Energy ]As the circumstances of the Korean power industry are changing by the hour, a new direction for thegovernment's energy policy centered on the New Renewable Plan 3020 is becoming more visible. As aresult, a proactive paradigm shift centered on securing momentum for new growth and a transition into
new renewable energy projects has been emerging as an urgent need. KOWEPO actively promoting newrenewable energy projects to proactively respond to the emission trading scheme in accordance withinternational climate change agreements and fulfill the renewable portfolio standard (RPS) requirement.
Through nurturing various new renewable energy projects appropriate for Korean territory, KOWEPO will
dominate future energy technologies and hone its mid to long-term competitive edge.

Establish New Renewable Energy Roadmap 3020
For a transition into safe, clean energy, the Korean government is promoting a policy to expand the ratioof new renewable energy to total energy to 20% by 2030. In response to the government policy, KOWEPO
as a public power corporation has put together the 'New Renewable Energy Roadmap 3020 '. Amongthe total thermal power generated by KOWEPO of 57,768GWh by 2030, KOWEPO seeks to supply 20%(14,486GWh) in new renewable energy. For this goal, KOWEPO is planning on expanding the installedcapacity for new renewable energy to 4,268MW.

Develop Large-scale New Renewable Energy Customized for Each Region

NEW RENEWABLE ROADMAP 3020

About 70% of Korea's land is mountainous, which is not conducive to expanding solar energy. It takes about 4 acres of

2019

2025

2030

land to create 1MB of solar energy, and areas with great wind conditions are either natural ecology protection area or

New renew. supply ratio

New renew. supply ratio

New renew. supply ratio

part of the Bakdudaegan Mountain Range, ineligible for development. For effective development of the Korean territory

6.0% (3.411GWh)

15.7% (9.221GWh)

20.0% (14.486GWh)

and increasing resident acceptance, KOWEPO is focusing on large-scale offshore solar panels customized for eachregion and offshore wind power plants. It is promoting co- development efforts with public institutions through signing
an offshore wind power facility development MOU with Jindo-gun and a 150MW offshore wind power facility MOU with
Wando-gun.

For diverse new renewable power developments, KOWEPO is promoting a construction of a newrenewable complex by building an onshore wind power belt. With the construction of Hwasun WindRPS Details
Energy Source

Solar PowerWind Power

Biomass Co-Firing

Fuel Cell
ESS
IGCC

Establish Onshore Wind Power Belt

Project

Capacity (MW)Completion

Gunsan Solar Power (RPA)
Taean Building Rooftop Solar Power
Sejong city Solar Power
Ansan Solar Power
Youngam F1 Solar Power
Pyeongtaek Solar Power #2
Taean Floating Solar Power
Pyeongtaek Solar Power #1
Seoincheon Solar Power #1
Taean Solar Power #1
Seokjeong Solar Power
Gunsan Solar Power #2
Saebit Solar Power
Seoincheon Solar Power #2
Taean Solar Power #2
Hwasun Wind Power

0.265
0.556
5.004
2.501
13.296
0.455
1.836
2.220
1.100
1.884
0.198
0.686
0.129
0.090
9.988
16.0002010.072012.012012.06
2012.122012.122014.112016.052017.052017.062017.062017.102017.112017.112017.112017.122015.11

Taean #3,4
Bio-SRF75.0002015.12

Taean #1~4, 7, 8
Wood Pellet

90.0002014.01

Pyeongtaek #1~4
Bio-Heavy Oil

70.0002014.03

Seoincheon Fuel Cell #1
Seoincheon Fuel Cell #2
Hwasun Wind Power ESS
Sejong City ESS
Taean IGCC

11.200
5.005
1.250
1.000
346.000

2014.08
2016.04
2015.112017.04
2016.08

Total

655.661-

Power facility in 2015 as a start, KOWEPO has responded to the government's system stabilization policy
through an ESS connection of the onshore wind power facility.

Promote Offshore Wind Power in Southwestern Sea
Along with 6 other power generation companies, KOWEPO has consolidated the capacities of Korean
companies related to offshore wind power through developing a offshore wind power facility in theSouthwestern Sea of Korea, creating a newly growing industry for Korea. The new facility is expected to
produce 6,680GWh a year starting in 2023, which is the final diffusion stage. KOWEPO is making efforts
to create values for the local community and environment by using Korean-made components as muchas possible and minimizing environmental impact of the facility.

Bitgoeul Renewable Solar Power Plant inGwangju Sewage Disposal Plant

Seoincheon Hydrogen Fuel Cell

Solar Power Plant in Youngam F1Circuit

Aerial View of Lee Won Ho Offshore Solar
Power Plant

Taean Offshore Solar Power

Hwasun Wind Power Generator

2018 Korea Western Power23

Introducing KOWEPO

KOWEPO Business

KOWEPO Future Energy

Realizing Social Values[ 4th Industrial Revolution and R&D ]During the 4th Industrial Revolution, the energy industry and environment industry arebeing merged together into a single industry. Knowledge and technologies, technologies
and industries, and industries and industries are being integrated, and not only are new

Realize Smart Power Plants

technologies being developed, existing technologies are being integrated and combined

In order to realize the WP-Smart Plan in response to the 4th Industrial Revolution, KOWEPO is conducting

appropriately to create new values. In order to proactively adapt to the fast-changing

a continuous work innovation including building M&D (maintenance and diagnostics) centers for big

management environment such as the 4th Industrial Revolution and the energy paradigm

data-based power generation facilities, expanding areas that use drones such as new renewableenergy facilities inspection, developing virtual training system and smart inspection system. In addition,

shift, KOWEPO is growing into a future-oriented public energy enterprise through

KOWEPO is planning on developing and implementing integrated technologies that make efficient

continuous preparations and R&D.

operations possible including new ICTs and new power generation technologies to lead the 4th Industrial
Revolution in Korea.

Create a Bond of Sympathy for 4th Industrial Revolution
In an effort to maintain all employees' understanding of the progress of the industrial revolution
and major technologies and create a bond of empathy for realizing smart power plants, KOWEPO is
continuously providing seminars and symposiums to introduce the 4th industrial revolution progress,
internet of things (IoT), artificial intelligence (AI) and augmented/virtual reality (AR/VR), elevating its
capacity.

Lead Korean Gas Turbine and Custom Distributed Power
Facility Technology
KOWEPO is engaging in government-run projects to develop large-scale high-efficiency gas turbines tobrings the combined thermal gas turbine technology to its feet which is responsible for over 100 units in
Korea, and after a successful combustion test in 2015, it is about to secure the original O&M technologyof the gas turbine technology acquired through consistent R&D.
Also, KOWEPO has developed a Korean integrated gasification combined cycle (IGCC) technology, which
was acknowledged as a new energy technology and selected for a government-funded project. Currently,
the IGCC facility is being perfected as a core technology to advance to the international market throughvarious integrated power generation research.

R&D in Five Core Technologies
KOWEPO has established the 'Five Core Technology Development' roadmap, a mid to long-term
technology development strategy to focus on expanding mid to long-term R&D investments anddeveloping core technologies, focusing on research and development.
Upon selecting power generational facility operation technology, gas turbine localization technology,
IGCC operation and connection technology, new renewable energy application technology and ecofriendly resource recycling technology as the five core technologies, KOWEPO is conducing open R&D
project partnering with the industry, academy and the government.

Endoscope camera

Thermo-graphic camera
Smart Mobile Safety Check System

Safety checks using drones

Aerial View of Lee Won Ho Offshore
Solar Power Plant

2018 Korea Western Power

25

Realize Social Values

Fulfilling corporate social responsibility

Realize social values
Beyond creating happiness for Korean citizens, KOWEPO is striving torealize a world where creating shared values and fulfilling corporatesocial responsibilities as our top priorities. Through invigorating local
economy and supporting small and medium-sized companies, we arepreparing a brighter, warmer tomorrow.

With“Shared Energy for Better
Tomorrow"
as our social contribution vision,
KOWEPO is fulfilling its corporate
responsibility
to create a warm world where
people live along and get along.

Introducing KOWEPO

KOWEPO Business

KOWEPO Future Energy

Realizingation Social Values[ Realize Social Values ]KOWEPO's realizing social values is directly related to its corporate philosophy. Under the slogan'Happy energy, Loving neighbor,' KOWEPO is fulfilling its social responsibilities as a public
corporation and as a friendly neighbor in the local communities. For this purpose, KOWEPO has
upgraded its existing social service activities to the perspective of Creating Shared Value (CSV),
actively engaging in shared value-creating and community-building activities for coexistence.

Create Shared Values for Local Community
After relocating its head quarter to Taean in 2015, KOWEPO has been working hard to be a company
that is loved and trusted by local residents. For this reason, KOWEPO has established various measures
to realize social values such as creating sustainable jobs, growing local economy, constructing a local
community welfare infrastructure and expanding social service regions.
- Happy Weepy School (Mentoring project for local students)- Weepy Social Flower (Finding a market for flower farm &Establish Coexisting Partnership with Small and Medium-sized
Corporations
We at KOWEPO think that the true corporate competitiveness comes from the network of the entire corporate
network including affiliates and partners. With that said, KOWEPO is creating a culture of coexistence with local
and small and medium-sized corporations based on a vision 'From cooperation to coexistence'.
- Implemented The mutual growth payment system (about 1,600 cases, 300 billion won payed in 2017)- Supported small and medium-sized corporations through ‘Naeil Chaeum’mutual-aid project (132 applied in 2017; 30 additional applicants expected each year,
reaching 222 in 2020)- Technology protection service (overall package including technology
protection diagnostics, consulting and technology leak prevention)- Industrial innovation (supported small and medium-sized corporation in production
innovation; 120 companies have participated through task execution 5th Year)

Emotional support program for welfare agency)- Weepy Dream Book Hope-Sharing Project (The Project for Improving
Educational environment in Community Child Center)- Build smart farm horticultural complex using thermal effluent frompower plant- Social service activities in each power plant for respective local communities

Establish KOWEPO Social Volunteer Corps
Since established in August 2004, KOWEPO Social Volunteer Corps has been actively supporting local
communities in a systematic, continuous fashion. Under the slogan 'Happy energy, Loving neighbor,'
the corps is working ceaselessly to create a brighter, healthier society by helping and sharing love with
one another.
- 'Dream beyond Dream' career mentoring- Didim Seeat bank account- Establish 'Love Sharer' fund
- Support local cultural performing arts
- Support traditional market visits

Create Good Jobs and Support Young Startups
KOWEPO has established a 'Two-track Strategy' for the public and private
sectors, planning on creating over 60,000 jobs in the private sector andabout a thousand jobs in the public arena by 2022.
Also, through an industry-academy-government business agreement tonurture talents of the local community, KOWEPO is creating new jobs forLabor & Mgmt. Sharing Coal Briquette of Love

young adults along with various projects and programs such as young
adult startup contest.
- Created 'Good Job Creating Team'- Chungnam industry-academy
government business agreement- 'Al-Sseul-Shin(new)-Job(Job) contest'- Young adult startup contest

Kimjang, making and sharing Kimchi

Giving a hand program in Farming Area

Share Songpyeons of Love

Visiting Traditional Market on Korean
Thanksgiving

Field day for Taean Community Child Center

Environment Cleaning Activity

New Employees Social Service

Fruit of Love Support

2018 Korea Western Power29

Consolidated statements of financial position
Classification(Units: KRW 100 million and %)End of 2017

End of 2016

Gain & Loss

96,287
10,661
85,626
57,463
12,974
44,48938,824
12,72926,392∆ 360
63

97,931
11,74986,182
58,69816,50542,19339,233
12,72925,934507
63∆ 1,644∆ 1.7%∆ 1,088∆ 9.3%

AssetsCurrent Assets
Non-current Assets

Liabilities
Current Liabilities
Non-current Liabilities

EquityPaid-in Capital
Earned Surplus
Other Capital Components
Non-controlling Interests

Classification
Electricity Sales Revenue
Subsidiary Business Revenue

Cost of Sales
Cost of Materials
Payroll
Expenses

Gross Profit
Selling & Admin. Expenses
Business Profits
Other Profits & Expenses
Financial Profits & Losses
Affiliate-related Profits & Losses
Pre-tax Profits
Net Revenue in Current Term

Gain & Loss Rate

∆ 556

∆ 0.6%∆ 1,235∆ 2.1%∆ 3,531∆ 21.4%

2,296

5.4%

∆ 409

∆ 1.0%

458
∆ 867
-

1.8%
∆ 171.0%-

2012

Consolidated Statements of Income
Sales Revenue

International Credit Ratings(Units: KRW 100 million and %)

2017

2016

42,22440,764
1,460
37,48827,311
1,894
8,283
4,736
1,121
3,615
∆ 108
∆ 1,388
∆ 630
1,489
1,028

41,79840,804994
34,87026,121
1,509
7,240
6,928
1,042
5,886
82
∆ 723
∆ 132
5,113
3,932

Gain & Loss
426
∆ 40
466
2,618
1,190
385
1,043
∆ 2,19279∆ 2,271
∆ 190
∆ 665
∆ 498
∆ 3,624∆ 2,904

Gain & Loss Rate
1.0%
∆ 0.1%

46.9%
7.5%
4.6%
25.5%
14.4%
∆ 31.6%
7.6%∆ 38.6%∆ 231.7%∆ 92.0%∆ 377.3%∆ 70.9%∆ 73.9%

2013

2014

2015

2016

2017