The 125kW external reforming (ER) type molten carbonate fuel cell (MCFC) system for developing a commercial prototype has been operated at Boryeong thermal power plant site since the end of 2009. The system consists of 125kW stack with $10,000 cm^2$ effective area, mechanical balance of plant (MBOP) with anode recycle system, and electrical balance of plant (EBOP). The 125kW MCFC stack installed in December, 2009 has been operated from January, 2010 after 20 days pre-treatment. The stack open circuit voltage (OCV) was 214V at initial load operation, which approaches the thermodynamically theoretical voltage. The stack voltage remained stable range from 160V to 180V at the maximum generating power of 120 kW DC. The stack has been operated for 3,270 hours and operated at rated power for 1,200 hours.