Gyeongnam Goseong-gun and Korea South-East Power Sign MOU for New Natural Gas Power Plant Construction

Baek Doo-hyun (left), Governor of Goseong-gun, Gyeongnam, and Kim Hoe-cheon, President of Korea South-East Power, signed a business agreement for the construction of a natural gas power plant.
[Image source=Goseong-gun]

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Sang-hyun] Goseong-gun, Gyeongnam Province, has been confirmed as the site for a new liquefied natural gas (LNG) power plant promoted by Korea South-East Power Co., Ltd. (KOEN) in accordance with the government's 9th Basic Plan for Electricity Supply and Demand.

On the 9th, according to the county, County Governor Baek Doo-hyun and KOEN President Kim Hoe-chun signed an agreement to successfully promote the construction project of the natural gas power plant.

Through the agreement, the county will support administrative and permit matters when building the natural gas power plant, and KOEN will actively strive to revitalize the local economy.

The county has closed units 1 and 2 of the Samcheonpo Thermal Power Plant, and units 3 to 6 are scheduled to be gradually closed by 2028. Due to concerns about regional decline caused by workforce outflow, reduction of local support projects, and job losses, the county has sought to attract the natural gas power plant.

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 21.0 billion KRW) can be received as support projects for the surrounding area of the power plant, which is expected to greatly help revitalize the local economy.

Governor Baek said, "We will discuss with nearby Sacheon City and environmental groups and promote the project through communication centered on local residents," adding, "We will do our best to cooperate with KOEN to ensure stable power supply and help revitalize the local economy."

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