Naver Introduces Renewable Energy at '1784'... ESG Collaboration with Korea Water Resources Corporation

From the left, Geum Han-seung, Director of Climate and Carbon Policy at the Ministry of Environment; Chae Seon-ju, Head of External and ESG Policy at Naver; Jeong Gyeong-yun, Vice President of Korea Water Resources Corporation. Photo by Naver

[Asia Economy Reporter Yuri Choi] Naver is collaborating with Korea Water Resources Corporation to achieve RE100 (100% renewable energy use) and to promote ESG (environmental, social, and governance) initiatives.

On the 15th, Naver and Korea Water Resources Corporation announced that they signed a memorandum of understanding (MOU) at Naver 1784, located in Seongnam-si, Gyeonggi-do, focusing on "joint development for RE100 implementation and technological cooperation to expand ESG values." Attendees at the signing ceremony included Cha Seon-ju, Head of Naver's External and ESG Policy, Jung Kyung-yoon, Vice President of Korea Water Resources Corporation, and Geum Han-seung, Director of the Climate and Carbon Policy Office at the Ministry of Environment, among other officials.

Naver plans to fulfill its RE100 commitment by procuring renewable energy produced from renewable energy facilities owned by Korea Water Resources Corporation through direct power purchase agreements (PPA) to supply its headquarters and IDC. On the 1st, Naver signed a third-party PPA with Enlighten and Korea Electric Power Corporation to expand the introduction of renewable energy in the operation of 1784.

The two companies also agreed to collaborate on various projects, including equity investments in large-scale renewable energy development projects such as floating solar power by Korea Water Resources Corporation. Additionally, they plan to continue technological cooperation in areas utilizing AI and big data linked to water information, disaster, and safety situations.

Representative Cha stated, "Taking this opportunity to collaborate with Korea Water Resources Corporation, which owns the largest renewable energy facilities in Korea, we will also expand cooperation with various partners and strive to transform Naver into a company with a world-class management system in the eco-friendly and ESG sectors."

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