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Korea Electric Power Engineering & Construction. (Photo: Yonhap News Agency) |
[Alpha Biz= Paul Lee] Korea Electric Power Engineering & Construction (KEPCO E&C), the power plant design arm of KEPCO, has submitted a mid-term workforce plan for 2026–2028 to the Finance Ministry that outlines a complete withdrawal from coal-related operations.
Under the plan, the company expects manpower dedicated to coal-fired power projects to decline from 58 employees this year to zero by 2028. KEPCO E&C currently provides engineering design and technical advisory services for new coal-fired power plants as well as environmental and performance upgrade projects.
The reduction reflects dwindling prospects for follow-up projects once ongoing environmental upgrade contracts are completed. The company projects revenue from coal-related business will fall from KRW 3.5 billion this year to KRW 1.1 billion next year, before disappearing entirely by 2028.
In contrast, staffing for liquefied natural gas (LNG) combined-cycle power plant construction is expected to remain stable as LNG replaces coal capacity. Projected LNG-related revenue for 2027 and 2028 stands at KRW 40.6 billion and KRW 40.5 billion, respectively, with manpower requirements of around 135 employees each year.
The most significant growth is forecast in renewable energy. Workforce demand in renewables is expected to rise nearly fivefold, from 32 employees this year to 100 next year and 147 by 2028. Revenue from offshore wind, waste-to-energy projects, and energy storage systems (ESS) is projected to increase from KRW 21.1 billion this year to KRW 103.3 billion in 2028.
The company said personnel expansion will accelerate particularly after 2027, when full-scale project execution begins, taking into account profitability and regulatory approval timelines.
KEPCO E&C noted, however, that actual workforce allocation could vary depending on changes in the business environment.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
