Sungshin Cement to Invest 130 Billion KRW for Eco-Friendly Management

Strengthening ESG Management for Sustainable Growth through Resource Circulation and Carbon Emission Reduction

[Asia Economy Reporter Kim Jong-hwa] Cement manufacturer Seongsin Yanghoe announced on the 7th that it plans to invest a total of 130 billion KRW in environmental facilities over the next seven years, starting with an investment of 35 billion KRW this year to expand the recycling of circular resources and reduce carbon dioxide emissions.

This investment project aims to increase the substitution rate of circular resources for bituminous coal, the main fuel used in cement manufacturing, by remodeling and establishing new cement production facilities and building related infrastructure. It includes investments in remodeling the preheater, ornamental and air environment facilities, and new construction, with completion scheduled for 2027.

Through this, Seongsin Yanghoe plans to improve the substitution rate of circular resources for bituminous coal from the current level of about 20% to over 50%. By replacing fossil fuel bituminous coal with combustible waste such as waste plastics as a heat source, waste will be recycled as circular resources without landfill.

This will solve the waste plastic disposal problem and enable eco-friendly production by reducing carbon dioxide emissions during combustion as bituminous coal usage decreases. Additionally, the reduction in bituminous coal consumption is expected to improve management performance by reducing energy costs.

A Seongsin Yanghoe official said, "This large-scale eco-friendly facility construction will be a starting point for Seongsin Yanghoe to be reborn as an eco-friendly company," adding, "We will secure sustainable growth engines by strengthening the Environmental, Social, and Governance (ESG) management system through continuous environmental investments in the future."

Since 2012, Seongsin Yanghoe has been operating waste heat recovery power generation facilities (generation capacity 29.5 MWh), and in 2018, it installed an energy storage system (ESS, battery capacity 94.0 MWh), realizing an optimal cost structure along with existing facilities. It is expected that the completion of eco-friendly facilities in 2027 will improve annual management performance by about 50 billion KRW compared to the current level.

Furthermore, based on carbon dioxide capture technology secured through a national project on the 10th of last month, Seongsin Yanghoe signed a business agreement for the "Chungbuk-type Clean Fuel and Raw Material Production Base Construction Demonstration Project" with eight organizations including Chungcheongbuk-do, Danyang-gun, and the Korea Energy Technology Research Institute. The company is accelerating eco-friendly R&D and business promotion, including participating in a project to produce hydrogen by utilizing carbon dioxide and high heat generated during the cement manufacturing process.

At the regular shareholders' meeting on the 26th of last month, the company resolved to add business purposes related to water treatment, environmental purification, and restoration-related businesses, and to subdivide existing environmental business purposes to expand environmental business.

This month, Seongsin Yanghoe established an ESG Management Committee and launched a promotion TFT to actively expand environmental business and build an internal system as a foundation for full-scale ESG management.

A company official emphasized, "We will present solutions to environmental problems through resource circulation that safely processes waste and returns it to the environment, and contribute to achieving carbon neutrality by reducing carbon dioxide emissions."

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