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CEO’s Message

"Better Energy, Better World"

The corporate philosophy of KOGAS is to create a better world with better energy. Upholding our philosophy, we will keep striving for our customers’ continuous trust and support.

Since its establishment in 1983, KOGAS has supplied natural gas in a safe and reliable manner to Korea, contributing to the nation’s economic development and benefiting the everyday life of the Korean people. At the same time, as a government-backed company, KOGAS has always put itself at the forefront of change and development. The unwavering support and interest from our customers and the Korean people have been the biggest driving force for KOGAS to grow and advance.

President and CEO, Korea Gas Corporation Yeon-Hye, Choi

Recently, the world’s internal and external environments are rapidly changing due to the global economic recession and soaring LNG prices. Despite such challenges, KOGAS will continue to faithfully conduct its duties to ensure safe and stable natural gas supply. KOGAS is determined to become a future growth company in which people see hope by pursuing the following four tasks.

First, we will prioritize ‘Safety First’ management.
Safety is the most important part of the services we provide to our customers and it is the core value that cannot be traded off. We are committed to creating a culture that prioritizes life and safety as the No. 1 management principle. To this end, we will actively invest and support KOGAS’s construction endeavors to become a world leading safety management company by increasing safety awareness, and strengthening both safety culture and safety management system.
Second, we will ensure a sound financial structure.
KOGAS has been designated as a "financially risky institution" by the Korean Governmnet due to the sharp increases in receivables and debts. Subsequently, we are implementing a stringent plan to restore the financial soundness of KOGAS.
By responding more nimbly to address financial issues, KOGAS will ensure stable natural gas supply. Also, we will continue to improve our financial structure in close cooperation with the government while taking bold self-rescue measures such as cost reductions.
Third, we will dramatically upgrade our core competencies.
For KOGAS to survive as a sustainable company in this rapidly changing business environment, all the members of KOGAS must proactively and preemptively respond to changes and challenges, breaking away from outdated practices and passive attitudes.
Instead of remaining complacent in our comfort zone, we will adamantly strive for growth and development. KOGAS will actively engage with our stakeholders, including the government and the National Assembly, the public, end-consumers, overseas suppliers, and shareholders to win their support, in order to lay the foundation for successfully conducting KOGAS’s business projects.
Finally, we will secure future sustainable growth by restructuring the portfolio of overseas resources development projects and new growth business projects including hydrogen energy.
From the perspective of national energy security, continuous gas supply and demand stability, and price competitiveness, we will reorganize KOGAS’s overseas business to be more efficient. At the same time, we will be dedicated to our future business projects so that natural gas would not be limited to playing the role of a bridge fuel in the global transition towards carbon neutrality.
In addition, we will carefully review our hydrogen business to revamp it in a way that substantially contributes to KOGAS’s future growth. Our new energy projects using natural gas infrastructure such as LNG bunkering business will be managed thoroughly as well to bear fruit and produce profits.

Taking this opportunity, we would like to ask for our fellow Korean citizens' continued interest and support as KOGAS and its fully committed members take a step into a better future. We assure you that we will do our best to increase KOGAS’s corporate value, contribute to Korea’s economic growth and provide greater energy benefits to the Korean people as a public company.
Thank you.

Choi Yeon-Hye President and CEO, Korea Gas Corporation

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