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Reviewing Financial Risk Analysis and Response Plans
Everyday savings measures, including a five-day rotation for staff vehicles
Korea Railroad Corporation (KORAIL) said on March 27 that it has bolstered its crisis-management system in response to the prolonged Middle East conflict and is contributing to national efforts to address the resource security challenge by implementing companywide energy-reduction policies.
On the morning of March 26, President Kim Tae-seung chaired a meeting in the headquarters video conference room with site chiefs from across the country to assess risks stemming from the Middle East situation and to review progress on energy measures by sector.
Participants examined how rising oil prices and exchange-rate volatility are affecting rail logistics and agreed to take comprehensive precautions to ensure stable train operations, including securing supplies of fuel (operational fuel) and maintenance parts.
Amid concerns that high oil prices, a strong dollar, and elevated interest rates could persist, KORAIL also stepped up monitoring to minimize financial risk by forecasting scenario-based impacts and conducting performance analyses.
They reviewed companywide emergency energy-saving measures that have been in effect since the government issued a ‘caution’ alert on resource security.
KORAIL is concentrating on electricity conservation through measures such as turning off engines while trains wait to depart, shutting off heating and cooling in empty deadhead trains, and promoting economical driving via the Driver Assistance System (DAS), which advises drivers on optimal acceleration and stopping points.
As part of a comprehensive energy-saving plan to reduce annual power consumption by 300 GWh by 2034, KORAIL is introducing eco-friendly, high-efficiency rail cars, deploying regenerative braking systems that recover energy during braking, and constructing solar power installations.
Since March 25, KORAIL has tightened its staff parking rotation from a ‘select-a-day’ scheme to a stricter ‘last-digit-of-license-plate’ schedule and plans to enforce it with practical penalties, such as restricting access for repeat offenders.
It has also implemented measures to cut electricity use—switching off 50% of lights, turning off lighting during lunch and after work, and maintaining efficient heating and cooling settings—and is actively promoting the government’s energy-saving campaign on station display screens.
Lee Min-chul, head of KORAIL’s Planning and Coordination Division, said, \”With instability stemming from the Middle East, this is a critical time to respond to the resource security crisis. As a public institution, we are actively participating in energy-saving efforts. We will continue to manage energy efficiently while minimizing inconvenience to the public.\”
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