Korea East-West Power Takes First Step in Constructing Eumseong Natural Gas Power Plant with 519.9 Billion KRW Economic Impact

Photo by Korea East-West Power Co., Ltd.

[Asia Economy Reporter Moon Chaeseok] Korea East-West Power announced on the 30th that it held the "Eumseong LNG Power Plant Construction Design Technology Service Project Kick-off Meeting" at its headquarters in Jung-gu, Ulsan, with officials from East-West Power and Korea Electric Power Technology in attendance. The project is expected to generate a total production inducement effect of 519.9 billion KRW in the Chungbuk region, including Eumseong.

East-West Power is promoting the construction of a power plant using clean fuel, liquefied natural gas (LNG), in the Pyeonggok-ri area of Eumseong-eup, Eumseong-gun, Chungcheongbuk-do.

Last December, it signed a design technology service contract with Korea Electric Power Technology and others, focusing on basic and detailed design of the power plant and technical support for the project owner.

At the meeting, they discussed the construction promotion status presented by East-West Power as the client, measures to secure the power plant site and water supply, and the schedule going forward.

Based on discussions on precedent project case analyses and construction management know-how, potential risks related to the power plant construction project were also identified.

An East-West Power official requested at the meeting, "Please prioritize designing a clean, safe, and community-friendly power plant."

He added, "Through the construction of the Seongcheon LNG Power Plant, we plan to actively respond to the government's energy transition policy and the public's demand for safe and clean energy sources, while doing our best to realize social values such as job creation and regional economic revitalization."

The Eumseong LNG Power Plant is scheduled to begin construction in 2022 after environmental impact assessments and power source development approvals, based on the philosophy of "building a clean and safe power plant together with local residents."

Commercial operation is expected to start in December 2024.

In particular, East-West Power plans to implement top-level eco-friendly facilities by designing nitrogen oxide (NOx) emissions to meet standards stricter than the legal limit (10 ppm).

They also plan to build a safe power plant by utilizing advanced technologies such as mobile intelligent CCTV for facility monitoring.

To build a community-friendly power plant, they aim to secure open areas that all local residents can use, including sports and cultural facilities.

According to East-West Power, during the construction and operation period, there will be an effect of increasing local support funds and local tax revenues by up to approximately 136.5 billion KRW.

According to the preliminary feasibility study by the Korea Development Institute (KDI), a production inducement effect of about 519.9 billion KRW is expected in the Chungbuk region, including Eumseong.

This content was produced with the assistance of AI translation services.