Seobu Power Partners with Farmers to Reduce Greenhouse Gas Emissions

80 Sites Selected in Chungnam, 116,000 Tons Over 5 Years
32 Agreements This Year... 34.7 Billion KRW Economic Impact

Kim Byung-sook, President of Korea Western Power (right), Kim Yong-chan, Deputy Governor of Chungcheongnam-do (center), and Park Cheol-woong, Chairman of the Foundation of Agricultural Technology Commercialization and Transfer (left), are posing for a photo at the "Greenhouse Gas Reduction Agricultural Development Win-Win Cooperation Project Achievement Ceremony." Photo by Korea Western Power.

[Asia Economy Reporter Moon Chaeseok] Korea Western Power has declared its commitment to reduce 116,000 tons of greenhouse gases in collaboration with farms in the Chungnam region. This effort is expected to generate an economic effect of 34.7 billion KRW. Western Power plans to actively respond to climate change and support the government's Green New Deal policy through its greenhouse gas reduction projects.

According to Western Power on the 10th, in partnership with Chungnam Province, the Ministry of Agriculture, Food and Rural Affairs, and others, 80 local farms have been selected to reduce 116,000 tons of greenhouse gases over the next five years. Earlier, on the 4th, at the Nonsan Agricultural Technology Center in Chungnam, a 'Greenhouse Gas Reduction Agricultural Development Win-Win Cooperation Project Achievement Ceremony' was held with Chungnam Province, the Ministry of Agriculture, Food and Rural Affairs, and the Agricultural Technology Commercialization Foundation. Representatives from 32 farms receiving support starting this year attended the event and signed a practical agreement.

Western Power's greenhouse gas reduction project targeting Chungnam farms dates back to August 2015, when the company relocated its headquarters to Taean-gun. In November of that year, Western Power signed a 'Win-Win Cooperation Memorandum of Understanding (MOU) for Greenhouse Gas Reduction and Agricultural Development' with the Ministry of Agriculture, Food and Rural Affairs and Chungnam Province, and has been implementing the project targeting farms in the Chungnam region for five years.

The project structure provides subsidies proportional to the greenhouse gas reduction performance when farms and agricultural corporations reduce energy consumption by utilizing low-carbon technologies such as geothermal, biogas, air-source heat pumps, multi-layer thermal curtains, and wood pellets. A Western Power official explained, "This is the nation's first win-win business model aimed at reducing farms' energy-related costs and ultimately creating 'prosperous rural communities.'"

Over the past five years, Western Power has raised funds to support the introduction of low-carbon technologies and the registration of farms for external projects to secure greenhouse gas emission rights. Among the 80 farms selected for the project, 79 have been registered for external projects. The core of the project lies in whether these farms can reduce 116,000 tons of greenhouse gases over the next five years. Western Power plans to select about 10 additional farms by the end of the year when the agreement period ends.

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