[2020 National Audit] Minister of Industry: "No Plans Confirmed for Coal Power Plants After KEPCO's Vietnam Project"

[Image source=Yonhap News]

[Asia Economy Reporter Moon Chaeseok] The government has confirmed that there are no projects currently planned by power companies following Korea Electric Power Corporation's (KEPCO) Vietnam Vung Ang 2 coal power plant project.

On the 7th, at the Ministry of Trade, Industry and Energy's audit held by the National Assembly's Industry, Trade, Small and Medium Enterprises Committee, Democratic Party lawmaker Kim Seong-hwan asked, "On the 22nd of last month, Environment Minister Cho Myung-rae stated that realistically, overseas coal power plant investments are difficult after the Vung Ang 2 power plant investment. What is the Ministry of Trade, Industry and Energy's position on this?"

In response, Minister of Trade, Industry and Energy Sung Yun-mo said, "If requested by the counterpart country, there has been government-level discussion to carefully review under significantly strengthened conditions compared to the current ones," adding, "We will carefully review under very strict standards."

Lawmaker Kim asked again, "Does this mean you plan to continue investing in the future?"

Minister Sung replied, "After checking with KEPCO and its subsidiaries, it has been confirmed that they have no intention to actively pursue overseas coal projects currently and that there are no projects."

Lawmaker Kim requested confirmation, "Does this mean there is no possibility of further promotion under the Moon Jae-in administration?"

Minister Sung said, "As far as I have confirmed, there are currently no projects underway by power companies."

Earlier, on the 22nd of last month, Minister Cho stated at the National Assembly's Environment and Labor Committee in response to a related inquiry by Democratic Party lawmaker Yang Yi-won-young, "The government's position is basically to fundamentally halt the export of coal-fired power plants."

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