CHUNGCHEONGBUK-DO < invest Korea

Yesan County and SK E&C signed a memorandum of understanding to promote a natural gas plant.

The natural gas plant with a generation capacity of 1,000 kW will be built on a 150,000 m2 site in Yesan with private investment of KRW 1 trillion only. The generation capacity is equivalent to the production of a nuclear power plant, which is enough to supply electricity to 1.80 million households at the same time.

The county plans to apply for the Korean government’s seventh electricity supply plan next April through negotiations and discussions with local residents and provincial council.

When selected, SK E&C and the county will be in charge of construction and all administrative procedures, respectively.

The plant is expected to create 250 new jobs and employ 300,000 workers a year during construction.

When the plant is completed, the county can receive from KRW 12 billion upto KRW 15 billion as a support fund for households close to the plant and also receive KRW 500 million annually when the plant is in operation.

A county official noted that when the project is successful, it will contribute to the regional economy substantially by generating regional revenue of KRW 60 billion, adding that the county requests for residents’ cooperation and support.

Source: Yonhap News (Oct. 16, 2013)

** This article was translated from the Korean.