Seoul City and Hyundai Construction to Promote 'Energy Efficiency Improvement' Project

Hyundai Construction Donates 170 Million KRW for LED Lighting Replacement in Energy-Vulnerable Groups and Social Welfare Facilities
Reducing Greenhouse Gas Emissions and Electricity Bills through Building Energy Efficiency Improvements

[Asia Economy Reporter Lim Cheol-young] On the 27th, the Seoul Metropolitan Government and the Seoul Energy Welfare Citizen Fund announced their participation in the win-win cooperation platform CEMP, promoted by Hyundai Engineering & Construction and the Korea Energy Agency, to activate energy social contribution.

CEMP is a win-win cooperation project operated by the Korea Energy Agency to promote corporate energy social contribution by reducing greenhouse gas emissions from buildings. Participating companies acquire carbon emission rights through evaluation of the carbon emission reduction amount of the promoted project and the external project registration and approval process.

Hyundai Engineering & Construction donated 170 million KRW to support the H-Green Saving project, which replaces general lighting devices in vulnerable groups and social welfare facilities suffering from energy poverty with high-efficiency LED lighting devices. Since the building sector accounts for the largest share (68.8%) of Seoul's greenhouse gas emissions, the H-Green Saving project is expected to reduce building greenhouse gas emissions and lower electricity bill burdens for vulnerable groups.

The Korea Energy Agency supports the external project registration for the H-Green Saving project and recognizes the greenhouse gases reduced through the project as carbon emission rights. Hyundai Engineering & Construction will donate the profits from the recognized emission rights back to the Seoul Energy Welfare Citizen Fund, and the donation will be used for energy education expenses targeting elementary and middle school students.

Meanwhile, to promote the project, the Seoul Metropolitan Government signed a four-party agreement with Hyundai Engineering & Construction, the Korea Energy Agency, and the Seoul Social Welfare Council. The signing ceremony held on the 26th at the Seosomun Building of Seoul City Hall was attended by Yoo Yeon-sik, Head of the Climate and Environment Headquarters of Seoul, Moon Je-cheol, Executive Director of Hyundai Engineering & Construction, Park Byung-chun, Director of Demand Management at the Korea Energy Agency, and Kim Hyun-hoon, Chairman of the Seoul Social Welfare Council.

Yoo Yeon-sik, Head of the Climate and Environment Headquarters, said, “As the first carbon emission rights acquisition-type contribution project carried out in the social welfare field, we will strive to leave a good precedent and enhance energy welfare for vulnerable groups.”

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