Dongseo Power invests 2.5 billion KRW in rural and fishing village development support projects

[Asia Economy Reporter Moon Chaeseok] Korea East-West Power announced on the 1st that it will invest 2.5 billion KRW in rural development support projects. This is to overcome the difficulties faced by rural areas due to the novel coronavirus disease (COVID-19) and to carry out projects linked to the Korean-style New Deal policy.

In the second half of the year, East-West Power plans to promote projects in four areas: ▲smart energy infrastructure construction ▲support for vulnerable groups based on digitact ▲revitalization of traditional markets by region ▲support for social economy development projects.

The key projects include ▲'Solar Power Distribution Projects in Daily Life' such as smart bus stops and smart shelters ▲'Energy Infrastructure Construction Projects' linked to its core business, such as support for energy self-sufficient solar power facilities in aging schools ▲'IT Infrastructure Construction Projects' to bridge the digital divide ▲'Traditional Market Support Projects' to revitalize the local economy.

To this end, East-West Power signed a written agreement on the 5th of last month with the Large, Medium, and Small Agricultural and Fisheries Cooperation Foundation to newly contribute 2.5 billion KRW to the Rural Coexistence Cooperation Fund.

The fund was established in 2015 through an agreement among the ruling and opposition parties and the government to support farmers, fishermen, and rural areas facing crises due to the Korea-China Free Trade Agreement (FTA).

East-West Power has contributed to the fund annually since 2018. The total amount donated to date is 7 billion KRW.

An East-West Power official said, "East-West Power will do its best to fulfill its role as a public enterprise through continuous contributions to the fund and support projects for the sustainable development of rural areas," adding, "We hope to bring vitality to rural communities struggling due to COVID-19."

Exterior view of the Korea East-West Power headquarters. (Photo by Korea East-West Power)

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