Gokseong-gun Selected for Pumped Storage Power Plant Hosting

Published 29 Dec.2023 09:41(KST)

Jukkok-myeon Gochiri Area, Expected to Revitalize Local Economy

Facility Capacity 500mW, National Budget of 1.3 Trillion Won

Gokseong-gun, Jeollanam-do announced that it has been notified of its selection to construct a pumped-storage power plant in the Gochi-ri area of Jukgok-myeon, Gokseong-gun, in partnership with Korea East-West Power Co., Ltd.

This selection was made by the Ministry of Trade, Industry and Energy on December 27, when the Priority Review Committee evaluated the economic feasibility, technical capability, local acceptance, and grid conditions of six project proposals submitted by four companies. The results were received from the secretariat agency, the Korea Power Exchange, and the evaluation results were announced on December 28 immediately after.

[Photo by Gokseong-gun]

The pumped-storage power plant to be constructed in Gokseong-gun will have a capacity of 500 MW and a national budget of 1.3 trillion KRW, with completion targeted for 2035.

Pumped-storage power plants are recognized as power sources that generate large amounts of electricity and are effective in securing the stability of the power grid.

In particular, Gokseong-gun has optimal conditions for constructing a pumped-storage power plant, as the distance between the upper and lower reservoirs is short, there are no ecological grade 1 areas, and it possesses abundant watershed resources.

Gokseong-gun is expected to greatly contribute to revitalizing the local economy and creating jobs through attracting the pumped-storage power plant.

The construction of the pumped-storage power plant is expected to create approximately 6,000 jobs.

Additionally, the operation of the pumped-storage power plant and the activation of related industries are expected to generate further employment opportunities.

Investment for the construction and operation of the pumped-storage power plant is anticipated to invigorate the local economy.

Moreover, if the pumped-storage power plant is utilized as a local tourist resource, it is expected to contribute to attracting tourists and revitalizing the regional economy.

The county has continuously worked together with residents to attract the pumped-storage power plant.

Last September, the Gokseong Pumped-Storage Power Plant Countywide Promotion Committee was formed, and active promotional activities were carried out, including holding resolution meetings by towns, townships, and organizations.

Lee Sang-cheol, the governor of Gokseong-gun, said, “As a result of continuous efforts with the residents to attract the pumped-storage power plant, a new growth engine that will brighten the future of Gokseong-gun has been established,” and added, “We expect that attracting the pumped-storage power plant will greatly contribute to revitalizing the local economy and creating jobs.”