According to industry sources on July 5, the next president of Korea Gas Corporation is expected to be identified by mid-July. Current President Choi Yeon-hye completed her three-year term on December 3, 2022, but has continued in her role due to delays in the appointment of her successor.
Korea Gas Corporation began its search for a new president in November 2022, and the executive recommendation committee narrowed down the candidates to five. However, the process was halted due to government opposition.
In April, Korea Gas Corporation reopened the application process and is currently reviewing candidates through the Public Institution Operation Committee. Hong Eui-rak, a former member of the National Assembly, is a leading candidate for the position. Hong has served as a member of the 19th and 20th National Assemblies and as the Deputy Mayor of Daegu for Economic Affairs, as well as the secretary of the National Assembly's Committee on Trade, Industry, Energy, Small and Medium Enterprises.
Korea Electric Power Corporation is also gearing up for a leadership change as President Kim Dong-cheol's term nears its end. The company formed a recommendation committee last month and plans to begin the search for a new president this month. Kim's three-year term, which began in 2023, will conclude in September, prompting the initiation of the succession process about two months ahead of his term's expiration.
This leadership transition is particularly noteworthy as it marks the first under the new Ministry of Climate, Energy, and Environment, which has taken over from the Ministry of Trade, Industry, and Energy due to government restructuring. Historically, many presidents of Korea Electric Power Corporation have been appointed from senior bureaucratic ranks within the Ministry of Trade. However, there is speculation that this time, candidates from the political arena or the new climate ministry may be considered. Former Gwangju Mayor Kang Ki-jeong and former Korea Hydro & Nuclear Power President Jeong Jae-hoon are among those mentioned as potential candidates.
Korea South-East Power is also accelerating its search for a new president following the resignation of former President Kang Ki-yoon in February due to his candidacy in the local elections. Reports indicate that a significant number of applicants have expressed interest in the position. The application process concluded last month, and candidates are expected to be shortlisted to three to five individuals after recent interviews.
The appointment of the new president at Korea South-East Power is drawing attention as it coincides with the government's push for the integration and restructuring of five power companies. The new leader could play a crucial role in this integration process, especially since the terms of the other power company presidents will extend until September to October of next year, positioning the new Korea South-East Power president as a potential candidate for the inaugural president of the merged entity.
This situation mirrors the 2021 merger of the Korea Mine Rehabilitation and Mineral Resources Corporation and the Korea Mineral Resources Corporation, which resulted in the establishment of the Korea Mine Rehabilitation Corporation, where the former president of the Mineral Resources Corporation was appointed as the inaugural president about six months prior to the merger.
However, the final plan for the integration of the power companies has yet to be confirmed, and there are still challenges to overcome, including legislative processes and union responses, making the role of the next leader even more critical in reconciling the interests of the organizations involved.
As political figures are increasingly mentioned among the candidates for leadership positions at major energy public enterprises, concerns about their expertise remain. Notably, both Korea Electric Power Corporation and Korea Gas Corporation are grappling with substantial debts and outstanding receivables, while also needing to address uncertainties in energy supply chains due to instability in the Middle East.
An industry insider stated, "Major energy public enterprises are facing complex issues related to financial restructuring and energy security. There is a need for individuals who possess both policy coordination skills and industry expertise along with management capabilities."
* This article has been translated by AI.
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