As the sole nuclear fuel developer and manufacturer in Korea established in 1982 as a government- invested organization, KEPCO Nuclear Fuel Co.,or KNF, is committed to grow as one of global top 3 nuclear fuel companies by 2020. This was disclosed at a recent interview with President &CEO Kim Ki-hak of the Company.
Having started commercial operation of a power fabrication plant (200 MTU/year) in1988 as a subsidiary of KEPCO, KNF established an R&D center in 1992 and expanded production capacity to 550 MTU/year for power and 400 MTU/year for CANDU. KNF is an R&D-oriented advanced high-tech company, supplying all nuclear fuels needed by 21 nuclearpower plants in Korea. Besides producing nuclear fuels using dry conversion (DC) processes, the company is developing proprietary next-generation high performance nuclear fuel as well as designing reactor cores and evaluating safety to assure safe and economical production of electric power in nuclear reactors. It is also designing and producing non-fuel reactor core components, while producing tubes for nuclear fuel rods.
After continued and concentrated development of new and proprietary technologies for years, the company developed advanced nuclear fuels, PLUS7 and ACE7, and began supplying to nuclear power plants in 2006 and 2008, respectively. Aiming to start producing in 2012, it is now developing the third generation advanced nuclear fuel with higher performance and improved safety compared to existing nuclear fuels, called HIPER (high performance with efficiency and reliability). Through these processes and experiences, the company has accumulated rich human resources and technological know-how and is ready to transfer them to those countries that consider to introduce nuclear power plants. Leveraging these experiences and technologies, KNF will develop nuclear power and fuels as part of new growth engines for export. In conjunction with other companies, including KEPCO Corp., the company is actively expanding overseas markets, and it will supply high performance nuclear fuels to nuclear power plants in the United Arab Emirates, which are under construction by KEPCO.
Replacing conventional AUC processes, KNF is producing nuclear fuels using dry conversion (DC) processes that cost less in manufacturing. When fuel assembly is completed after going through complicated and meticulous processes, the company conducts thorough inspection and evaluation on products, and supplies to nuclear power plants only those products, which are evaluated to be perfect by 100%. Nuclear power is a pollution-free and eco-friendly energy that can reduce greenhouse gases and protect environment. Moreover, it is more stable and economical energy source than fossil fuels.
As the head of a robust company that gained 183.3 billion won (approximately US$167 million) in sales last year, CEO Kim Ki-hak places top priority on human resources in management. He believes that fulfillment of social responsibility as a public enterprise, promotion of people’s understanding of safety of nuclear power, and operation of nuclear fuel business for the public interest are major factors for sustainable development of the company. He aspires to generate future growth engine by developing nuclear power as one of major export products of the country and to contribute to enhancement of well-being of the people. As it achieved successful outcomes in management by creating harmonized culture based on mutual trust, communications and consideration under his renewed management system and vision, the company ranked first in management assessment made by KEPCO in 2010 among the latter’s affiliates.
As part of its strategy to grow as one of global top 3 nuclear fuel companies and achieve eco-systematic development along with suppliers and sub-contractors, KNF is faithfully observing fair trade regulations, while offering support programs to small and mid-sized companies. The company recently concludedan agreement for symbiotic growth and fair trade with 11 suppliers and sub-contractors. Under the agreement, the company will help part suppliers smoothly secure finance by shortening period of payment for parts’prices, raising ceiling of advanced payment to up to 70% of contract money, and by purchasing raw materials for parts of nuclear fuels and provide them to suppliers. KNF has been providing a number of support programs to small and mid-sized companies, including support of technology and fund to develop core parts of nuclear fuels, and support for their expansion into overseas markets. Having received MBA from Sungkyunkwan University and Ph.D. from Seoul University of Venture and Information, CEO Kim Ki-hak served as manager and executive director at KEPCO for over two decades prior to inauguration as the CEO of KNF. He is concurrently the president of the Korea-China-Japan Regional Economy and Culture Association.