Plant Asset Management Today and Tomorrow

Korea has been achieving the world best safety and economic performance of nuclear power plants through continuous technology development and asset management optimization since its first nuclear power reactor was introduced in the late 1970s. While most countries have stopped building new nuclear power plants since the severe accident in TMI nuclear plant in 1979, Korea has been steadily developing its own reactor models and constructing new nuclear plants. In addition, Korea won recent new nuclear plant project of United Arab Emirates (UAE) as a result of these efforts. A nuclear power plant consists of a great variety of complex equipment having state-of-the-art technologies, and the highest nuclear safety and equipment reliability are required. Therefore, the most sophisticated systematic engineering asset management is essential to the nuclear power plant. As a responsible company of operating and constructing all nuclear power plants in Korea, Korea Hydro and Nuclear Power Co. (KHNP) has developed its own asset management model for the nuclear power plants in operation and expanded the model into the new plants under construction. Since the asset management model was developed for the various equipment types in the nuclear power plant, it can be easily utilized in other industries as a highly effective asset management model. This paper presents new and innovative methods to refine and improve existing asset management practices in general plants by diagnosing KHNP’s physical asset management model. It contributes to the development and improvement of an advanced asset management model for general plant industries and utilities to meet the objectives of securing a clean environment, improved public health and safety, and general community well being.