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| The headquarters of Korea Gas Corp. (KOGAS) in Daegu. Courtesy of KOGAS |
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| KOGAS CEO Chae Hee-bong |
By Lee Kyung-min
The Korea Gas Corp. (KOGAS) will make hefty investments in the hydrogen industry as part of a long-term business reorientation toward the green transition, increasingly embraced by leading global organizations, the state-run energy firm said Tuesday.
The firm plans to establish a hydrogen-driven growth model, a core profit-generation driver backed further by safe management of the liquefied natural gas (LNG), its key source of energy.
Five key tasks will be promoted this year and will include the preparation of specific carbon-neutral action plans to introduce what the firm has identified as "green hydrogen," expansion of the new energy businesses into LNG cooling and strengthening of supply management.
Also included are the establishment of the best safety management and monitoring system as well as a corporate governance overhaul to spur digital transformation and productivity.
The firm will widen the refrigeration logistics, air liquefaction and data center operation businesses. It will speed up overseas gas-to-power (GTP) projects notably in Vietnam and the Dominican Republic.
Purchase order management will be strengthened to increase stockpiles of long-term and spot LNG trades, in preparation for unexpected disruptions in supply and demand of the key heating source. A variety of contract methods will be outlined to strengthen the competitiveness of charging plans.
The firm will bolster the efficiency of on-site safety inspections and prepare measures to better prevent industrial accidents at partner firms.
Company-wide efforts will be put in place to establish a corporate culture whereby safety management is treated as the top priority, a move to be followed by substantial investments in employee training and awareness-raising campaigns.
Digitization-driven work processes will be implemented to maximize efficiency and productivity, a new strategy equally pursued with greater promotional activities to enhance business-to-consumer (B2C) relations, equal and fair communications and collaboration among employees, fostering a culture of integrity and anti-corruption.
"The year 2022 is the year of the Black Tiger. KOGAS should strive for future goals in the same way a tiger does in catching prey," KOGAS CEO Chae Hee-bong said. "Let us create a wonderful year where all employees dream, challenge and thrive."
