FROM: Daesung Group

[November 9, 2012] Younghoon David Kim, Chairman & CEO, Daesung Group has been elected as Co-chair of the World Energy Council (WEC). In 2013 Chairman Kim will begin a three-year term as Co-chair followed by a three-year term as Chair of this influential London-based energy organization. Chairman Kim’s election follows in the path of Koreans heading major international organizations such as Ban Ki-moon, Secretary General, United Nations and Jim Yong Kim, President, World Bank. 

On November 8 at the World Energy Council’s Executive Assembly held in Monaco by an overwhelming vote from WEC’s 90+ national Member Committees, Kim was elected Co-chair. In accordance with WEC’s statues, Kim will serve as Co-chair for three years before assuming the position of Chair from 2016 to 2019. Also in Monaco, Marie-Jose Nadeau, Executive Vice President-Corporate Affairs, HydroQuebec was selected to replaced current WEC Chair, Pierre Gadonneix Honorary Chairman, ELECTRICITE DE FRANCE (EDF).

The election of a Chair and Co-chair represents a system of governance newly adopted in Monaco.  The rationale behind the adoption of this system is to widen WEC’s global presence from Euro-centered to a much more globally inclusive one. The new system, while allowing WEC to raise its profile through the activities of both Chairs, will also permit the organization to respond with a more specialized approach to the many energy related issues the public faces throughout the world as well as ensuring a smoother transition from one Chair to the next.

Co-chair Kim began his association with WEC in 2006 when he was elected Regional Vice-chair for Asia Pacific and South Asia.  He served in this post for two terms until 2011.  During these years he made enormous contributions to WEC’s development especially as a spokesman for the energy needs of developing countries. He also played a pivotal role in Daegu, Korea’s successful bid to host the 2013 World Energy Congress, WEC’s premier event. Currently Co-chair Kim serves as the Executive Vice-chair of the WEC Daegu 2013 Organizing Committee.

Co-chair Kim’s election signals not only the growing influence of Asia in the global energy market, but also will allow him to take advantage of his vast network of contacts throughout the world with organizations like the United Nations and APEC to promote cooperation on energy-related projects, especially in his prime area of concern, energy poverty. 

Up until now the focus has generally been on the suppliers and major energy companies located in the Middle East, Europe and North America. With Co-chair Kim’s election, Asia’s influence is expected to increase commensurate with its position as the world’s fastest growing energy market.

In Monaco, Co-chair Kim noted in his address to the Executive Assembly, “At a time when the global energy market is dramatically changing, I will lead WEC to make the bold changes and important decisions that it will ensure its capacity to successfully represent every region and every energy type.”