Yeosu GS Caltex Donates 600 Million Won to Energy-Vulnerable Groups

Published 16 May.2023 13:14(KST)

Resolving Energy Poverty through Boiler Installation and Heating Construction

On the 16th, GS Caltex donated 600 million KRW for the ‘GS Caltex Energy Efficiency Improvement Public-Private Joint Project’ to support energy-vulnerable groups in Yeosu City.

The ‘GS Caltex Energy Efficiency Improvement Public-Private Joint Project’ is the first public-private cooperation case among national subsidy projects for improving energy efficiency for energy-vulnerable groups. GS Caltex will sponsor a total of 10 billion KRW over five years, of which 600 million KRW will be allocated to support the citizens of Yeosu.

[Photo by Yeosu City]

The donation was entrusted to the Korea Energy Foundation and will be used over five years for insulation, window and floor construction, and boiler installation in homes of energy-vulnerable groups such as basic livelihood security recipients and lower-income households in Yeosu City.

This year’s support will cover 200 households, with up to 4.3 million KRW per household, including 1 million KRW for construction costs, which is expected to result in high satisfaction among beneficiaries.

Lee Doo-hee, Head of Production at GS Caltex, said, “GS Caltex has great affection for Yeosu City, where our main business site is located. We hope this donation will help reduce the heating cost burden on low-income households caused by the sharp rise in energy prices.”

Following this, Joo Young-nam, Secretary General of the Korea Energy Foundation, stated, “We will do our best to ensure that GS Caltex’s support is used efficiently and appropriately in project implementation.”

In response, Jeong Ki-myung, Mayor of Yeosu City, said, “We thank GS Caltex for their support for vulnerable groups and the Korea Energy Foundation for promoting the energy efficiency improvement project. Yeosu City will strive to identify more beneficiaries to extend support to a greater number of vulnerable groups.”