GANGWON-DO < invest Korea

According to Yonhap News,

(CHUNCHEON=Yonhap News) The mine dump in Jangseong-dong, Taebaek will be reformed as a new and renewable and cultural power plant.

Gangwon Province, Taebaek City, Mine Reclamation Corp., Korea District Heating Corp. and Korea Coal Corporation will sign an MOU on November 29 at the Provincial Office on economy based urban regeneration new deal project.

It is to establish a cooperative system for successful implementation of "ECO JOB CITY Taebaek" which was selected as the economy based regeneration new deal project by the Ministry of Land, Infrastructure and Transport in August.

The project aims to foster an alternative industry by regenerating mine dump, decrepit facilities and the forest resources into a renewable energy park, smart farm, forest resources pick up center and mine theme park.

The targeted area is 46,826 square meters of land around Jangseong-dong, Taebaek.

The project will be implemented from next year until 2024 with a total budget of KRW 227.3 billion including KRW 80.5 billion of assistance from public organizations.

The main project is to recreate a forest energy park with forest renewable energy power plant by reforming the abandoned mining training center.

It will have forest resource pick up center to transform coal industry into a unused forest utilization industry (collection, transport, storage, production).

Once the project is complete, the Province expects to add 8,887 jobs, KRW 11 billion of private investment, KRW 500 billion worth of production and KRW 214.3 billion worth of added value.

"The project will be a leading model for the regeneration new deal project in the mine dump area that aims to overcome economic depression and regional extinction," said a Provincial official.

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Source Text

** This article was translated from Korean.

Source: Yonhap News (November 28, 2018)