Seoul City-Acquon Support Replacement of 200 Eco-Friendly Boilers for Energy-Vulnerable Groups

Business Agreement for the Distribution of Eco-Friendly Boilers to Vulnerable Households

[Asia Economy Reporter Lim Cheol-young] On the 17th, the Seoul Metropolitan Government announced that it signed a public-private partnership agreement for an eco-friendly boiler replacement support project at the new Seoul City Hall building together with Aequan Capital, Aequan Savings Bank, and the Seoul Social Welfare Council.

This agreement was made in connection with Seoul’s home-use eco-friendly boiler distribution project, and Aequan plans to fully cover the self-payment cost of 60 million KRW for 200 energy-vulnerable households. Eco-friendly boilers emit nitrogen oxides (NOx) at one-eighth the level of conventional boilers and have 12% higher thermal efficiency, effectively reducing fine dust and greenhouse gases. Households spending about 1 million KRW annually on city gas can save approximately 130,000 KRW.

This year, Seoul provides 100,000 KRW per unit for replacing home-use boilers older than 10 years with eco-friendly boilers, and 600,000 KRW per unit for low-income households. However, considering the average replacement cost of about 900,000 KRW, low-income households still face a burden of paying the remaining 300,000 KRW.

With Aequan’s donation, Seoul announced that 200 energy-vulnerable households (100 households in March and 100 households in October) will be able to replace their old boilers with eco-friendly boilers without additional cost burden. Applications are being accepted through the environmental departments of each autonomous district, and support will be provided by selecting especially needy households among low-income groups.

Meanwhile, the agreement ceremony was attended by Yoo Yeon-sik, Head of Seoul Climate and Environment Headquarters; Gil Gwang-ha, Chairman of Aequan Capital’s Social Contribution Operations Committee; Jeong Young-seok, Chairman of Aequan Savings Bank’s Social Contribution Operations Committee; and Kim Hyun-hoon, Chairman of the Seoul Social Welfare Council. Last year, Aequan also showed continuous interest in improving energy welfare for vulnerable groups by donating eco-friendly boilers and high-efficiency rice cookers worth 79 million KRW through the Seoul Energy Welfare Citizen Fund.

Kim Hyun-hoon, Chairman of the Seoul Social Welfare Council, said, “We will continue to expand energy welfare projects for vulnerable groups.” Yoo Yeon-sik, Head of Seoul Climate and Environment Headquarters, stated, “The prolonged impact of COVID-19 can be more difficult and harsh for energy-vulnerable groups. Seoul will make every effort this year to help more energy-vulnerable households.”

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