Busan City Selected for National Funding Project to Build Energy Self-Sufficiency Infrastructure in Myeongji Noksan Industrial Complex

Selected in Ministry of Trade Public Contest, Secured 20 Billion KRW in National Funding

Demonstration Complex and Integrated Management System Construction Project

Busan City, together with the Korea South-East Power Consortium, has been finally selected in the Ministry of Trade, Industry and Energy’s ‘Industrial Complex Energy Self-Sufficiency Infrastructure Construction and Operation Project’ competition, securing 20 billion KRW in national funding.

The Korea South-East Power Consortium consists of Korea South-East Power, Busan Technopark, Busan IT Industry Promotion Agency, Ace Spec Intech, Sunyoung Partners, Grand Sun, ABM, KT, and SK C&C.

With this selection, energy self-sufficiency infrastructure will be established within the aging Myeongji-Noksan Industrial Complex, which has been in operation for over 20 years since its establishment in 1999.

Industrial Complex Energy Self-Sufficiency Infrastructure Construction Project.

This project aims to transform the complex into an eco-friendly green industrial complex through the dissemination of eco-friendly renewable energy, energy efficiency improvement projects, and the establishment of an integrated energy management system. The city plans to invest a total of 33.1 billion KRW over three years from May this year to 2025, including 20 billion KRW in national funds, 5 billion KRW in city funds, and 8.1 billion KRW in private investment, to transform Myeongji-Noksan Industrial Complex into a smart industrial complex that serves as a core export base for the Busan region.

Upon completion, the project will increase the power supply within the complex and reduce electricity consumption through energy demand management and optimal distribution. Additionally, by utilizing an integrated energy management platform for real-time energy monitoring, it will activate electricity trading and enable the storage of electricity during nighttime hours when demand is low.

Furthermore, through energy trading demonstrations that discharge electricity to the grid during peak hours when electricity rates are high, the project is expected to accelerate energy independence and contribute to securing corporate competitiveness by reducing electricity costs and generating additional revenue from electricity trading.

Detailed Implementation Plan.

Lee Kyung-deok, Director of the Future Industry Bureau of Busan City, stated, “We will continue to promote projects for the implementation of RE100 in regional industrial complexes by cooperating with local companies, as in this project.” He added, “The city will support local small and medium-sized enterprises to ensure that exports are not hindered and will also strive to achieve national carbon neutrality.”

RE100 refers to a global private-sector campaign in which companies commit to sourcing 100% of their electricity from renewable energy.

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