韩国电力CEO遴选进入三人终选但尚未产生明确交易催化

The search for KEPCO's next chief executive has entered its final stage, with former Jeollanam-do Governor Kim Yung-rok widely seen as the leading candidate. Former Democratic Party lawmaker Oh Young-sik is also being mentioned as a possible pick.
KEPCO's executive recommendation committee recently narrowed the field to three candidates: Kim, Oh and Lee Jong-hwan, a former KEPCO executive vice president who oversaw business operations, according to energy industry sources on the 2nd. The Ministry of Finance and Economy's public institution management committee is expected to select a final candidate as early as this month.
The final candidate becomes KEPCO's chief executive after being nominated by the minister of climate, energy and environment, approved by the president and confirmed by a vote of KEPCO's board. The new chief will succeed Kim, whose term ends on the 19th. The KEPCO chief executive serves a three-year term.
KEPCO accepted applications for the post between the 6th and the 14th of last month. Lee Ho-hyun, second vice minister of climate and energy, and former Gwangju Mayor Kang Gi-jung had been considered strong contenders but did not apply. Jeong Jae-hoon, former chief executive of Korea Hydro & Nuclear Power, was also mentioned as a possible candidate but was not included in the final shortlist.
Industry officials and political circles view Kim as the de facto choice. Kim served twice as a National Assembly member for a district in Jeollanam-do, where KEPCO is headquartered, and twice as the province's governor, giving him considerable influence in local politics. He led the effort to bring a semiconductor cluster to the southwestern region shortly before completing his term as governor in June this year, and is regarded as well versed in energy policy after focusing on expanding renewable energy in the province throughout his tenure.
Some observers, however, say Oh cannot be ruled out. A former leader of the National Council of University Student Representatives, Oh served in the 17th and 19th National Assemblies as a progressive lawmaker. He headed Korea Railroad Corporation, or Korail, in 2018 and served as chief of staff to former Prime Minister Kim Boo-kyum in 2021.
Given the recent pattern of appointing figures from political circles to lead state-run energy companies, analysts say the contest has effectively come down to Kim and Oh. That would mean a politician heading KEPCO for a second consecutive term, following the current chief, a former People Power Party lawmaker.
Lee, the third candidate, is a career KEPCO official who retired in 2023 after 35 years at the utility. He held a series of key posts, including head of the distribution operations division, head of the Ulsan branch under the Busan-Ulsan regional office, head of the PyeongChang Winter Olympics power supply division and head of the new business development office, giving him a deep understanding of the company's core operations.
Whoever takes the job faces a formidable set of tasks. Surging electricity demand driven by artificial intelligence and semiconductors has made expanding generation and transmission facilities urgent. At the same time, the new chief must deliver on the government's plan to expand renewable generation capacity to 220 gigawatts by 2040 while shutting down all coal-fired power plants. Yet KEPCO's finances are strained, with debt exceeding 210 trillion won.