[Asia Exclusive] Kim Hobin, President of Jungbu Power, "Expanding Renewable Energy to 30% by 2030"

Transformation into an Eco-Friendly Energy Supplier
720 Billion KRW Invested in Fine Dust Reduction Facilities
Declared the First Year of ESG Management Since This Year's Inauguration
Active Overseas Projects for Greenhouse Gas Reduction

Kim Hobin, President of Korea Midland Power, is being interviewed at CEO Suite in Gwanghwamun, Seoul, on the 4th. President Kim said, "We will develop large-scale offshore wind power, solar power, and hydrogen energy to increase the share of renewable energy to 30% of total power production by 2030," adding, "We plan to produce electricity with net zero carbon emissions by 2050." / Photo by Kim Hyunmin kimhyun81@

[Asia Economy Reporter Kim Bo-kyung] Kim Ho-bin, President of Korea Midland Power Co., Ltd., announced on the 4th, "We will develop large-scale offshore wind power, solar power, and hydrogen energy to expand the share of renewable energy to 30% of total power generation by 2030."

In an interview held that day in Gwanghwamun, Seoul, President Kim said, "We are seeking to transform from conventional fossil fuel-based power generation to an eco-friendly energy supply company." Korea Midland Power is responding swiftly to ESG (Environmental, Social, and Governance) management and the carbon neutrality trend. To reduce fine dust and greenhouse gases, the company is promoting △early shutdown of Boryeong Units 1 and 2 △conversion of Boryeong Units 5 and 6 to liquefied natural gas (LNG) fuel △expansion of renewable power generation.

By investing approximately 720 billion KRW in the construction and improvement of fine dust emission reduction facilities until June of this year, the company reduced air pollutant emissions from coal power plants by 28,000 tons compared to 2015 as of last year. Additionally, by 2024, it plans to block scattered dust by indoorizing the low-carbon yard at the Boryeong headquarters with a budget of 320 billion KRW. President Kim stated, "We have completed a demonstration of producing 500 kW-class green hydrogen using Jeju wind power, and we plan to significantly expand green hydrogen production in the future," adding, "Renewable energy generation fluctuates greatly depending on weather conditions, but this can be overcome through green hydrogen power generation."

Appointed in April, President Kim declared this year as the inaugural year of ESG management on the occasion of Korea Midland Power’s 20th anniversary. The company has announced its ESG management vision and is continuously monitoring the implementation of measures to achieve ESG strategic goals. President Kim said, "ESG management determines the success and survival of a company," and added, "ESG presents a great challenge to our company, which has grown based on thermal power generation." He emphasized, "Balanced management and comprehensive development that consider both financial performance and non-financial outcomes such as environment and ethics are the core of ESG management."

The company is also actively conducting overseas projects to reduce greenhouse gases. It has distributed one million high-efficiency clean cookstoves to households in Bangladesh, and in recognition of this achievement, it became the first in Korea to import 770,000 tons of overseas emission credits domestically. It is promoting a project to seal gas supply pipeline leaks between Bangladesh’s natural gas (NG) distributor and local households, which is expected to reduce 4 million tons of greenhouse gases over the next 10 years.

President Kim explained, "We plan to actively conduct carbon reduction research and development (R&D) to produce electricity with net-zero carbon emissions by 2050," and added, "The specific greenhouse gas reduction roadmap for Korea Midland Power will be prepared by reviewing the government’s ‘Carbon Neutral Energy Innovation Strategy,’ which is scheduled to be established by the end of this year."

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