Goseong-gun Takes Initiative to Attract New 1000MW-Class LNG Power Plant

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Sang-hyun] Goseong-gun, Gyeongnam announced on the 1st that it will seek to attract a new liquefied natural gas (LNG) power plant being promoted by Korea South-East Power Co., Ltd. in accordance with the government's 9th Basic Plan for Electricity Supply and Demand.

Goseong hopes to attract the power plant as the Samcheonpo Thermal Power Plant Units 1 and 2 were closed in April this year, and Units 3 and 4 are scheduled to be closed in 2024, Unit 5 in 2027, and Unit 6 in 2028, raising concerns about regional economic contraction due to workforce outflow, reduction of local support projects, and job losses.

The county emphasizes that it has favorable conditions compared to other local governments that submitted letters of intent, as the power plant can be built on the existing site of the Samcheonpo Thermal Power Plant, offering economic feasibility, and industrial water and power transmission system facilities can also utilize existing infrastructure.

If the power plant is attracted, tax revenue of approximately 160.7 billion KRW (based on 30 years) including local resource facility tax will be secured, about 270,000 workers will be involved during the construction period, and about 800 people are expected to move in during operation.

In addition, about 41.2 billion KRW (based on 30 years; basic support fund 20.2 billion KRW, special support fund 21 billion KRW) can be received as local support projects around the power plant, which is expected to greatly help revitalize the regional economy.

The county submitted a construction site selection proposal to Korea South-East Power on the 30th of last month with the consent of residents of Ha-i-myeon and Ha-il-myeon within a 5 km radius of the candidate site and the Goseong County Council.

Korea South-East Power plans to select the final site around August after evaluating the proposals submitted by local governments.

There are plans to build a 1000 MW-class LNG power plant, and currently five local governments nationwide, including Goseong-gun, are participating in the attraction.

Baek Du-hyun, the county governor, said, "We will do our best to succeed in attracting the plant by gathering the will of local residents and revitalize the local economy."

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