Korea Coal Corporation Signs MOU for Private Investment Attraction in Mongolia Eco-Friendly Briquette Manufacturing Plant

Promotion of Eco-friendly Briquette Supply Project to Reduce Air Pollution in Mongolia

Photo of the signing ceremony for the private investment agreement in the Mongolian shaped charge project. From the left, Jae-hyung Jeong, CEO of Daeyang Environmental Technology; Jung-bae Yoo, President of Korea Coal Corporation; Seon-wook Kwon, General President of Peace Engineering. Photo by Korea Coal Corporation

[Asia Economy Reporter Moon Chaeseok] Korea Coal Corporation announced on the 11th at 11 a.m. that it held a 'MOU Signing Ceremony for Attracting Private Investment to Establish an Eco-friendly Briquette Manufacturing Plant' with Peace Engineering and Daeyang Environmental Technology in the main office's 2nd floor conference room.

The corporation explained that Ulaanbaatar, the capital of Mongolia, is the second most severely air-polluted city in the world.

During the seven-month winter season, air pollution caused by indiscriminate heating is extremely severe, making air pollution prevention measures urgent.

Accordingly, at the request of the Mongolian government, the corporation has been promoting an eco-friendly briquette manufacturing project using bituminous coal produced in Mongolia since last year.

This time, it signed a business agreement with two private companies willing to invest domestically and decided to actively promote the Mongolian briquette manufacturing project.

Through the agreement, the corporation will supply bituminous coal through its Mongolian subsidiary, Hotgor Shana Co., Ltd., and provide facility sites and other ancillary facilities.

Peace Engineering will invest funds for establishing the production plant, and Daeyang Environmental Technology will oversee the operation of the Mongolian briquette project.

President Yoo Jeong-bae of the corporation stated, "Marking the 30th anniversary of Korea-Mongolia diplomatic relations this year, we will carry out our briquette manufacturing project with our partners without any setbacks to prevent air pollution, a major issue in Mongolia," adding, "We will do our best to establish this as a model case of energy cooperation between Korea and Mongolia."

The corporation expects that through this agreement, it will be able to reduce air pollution locally in Mongolia, contributing to environmental protection and improving the happiness index of the Mongolian people.

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