Jeonnam Province Lays Foundation for Global Leap in Future Energy New Industries

Securing 113.1 Billion Won in National Funds: An All-Time Record

Jeonnam Province announced on the 29th that it has secured a record-breaking 24 national projects worth 113.1 billion KRW in the energy new industry sector for 2024, laying the foundation for a global leap in the future energy new industry.

This achievement is particularly significant given the challenging conditions of the global economic crisis and national fiscal austerity.

The province has set its energy policy goal for this year as "Completing the Energy Decentralization Hub in the Era of Energy Transition" and plans to fully respond to issues such as local extinction and population decline.

Utilizing its position as the nationwide leader in renewable energy generation capacity (5.14GW in 2022), it will actively pursue the creation of a future regional energy ecosystem.

Based on the Energy New Industry Global Innovation Special Zone (25 billion KRW) selected in the Ministry of SMEs and Startups competition last December, the province will commercialize a direct current power grid platform, a future-type transmission technology.

Additionally, by securing 3 billion KRW for the future regional energy ecosystem activation project, it is expected to establish the nation's first integrated distributed energy management platform. By taking the lead in the "distributed energy" sector, a green light has been given for the planned designation of a "distributed energy specialized area" scheduled for June this year.

Furthermore, by securing project funds of 2.5 billion KRW for the establishment of an offshore wind power convergence industry platform and 1 billion KRW for the development of a large-scale public-led offshore wind power complex, the creation of the country's largest 30GW offshore wind power complex is expected to accelerate.

The province will also actively foster future energy new industries such as hydrogen and energy new materials. Major reflected projects include the development of reliability enhancement technology for Korea's first water electrolysis system (2.7 billion KRW), the establishment of an energy new materials industrialization platform (5.6 billion KRW), and the development of recycling and remanufacturing conversion technology for eco-friendly parts (4 billion KRW).

Regarding the realization of detailed energy welfare for vulnerable groups and the creation of a safe energy environment for residents, projects such as the Hwasun Mining Site Mine Damage Prevention Project (10 billion KRW), medium-scale LPG pipeline network construction (5.5 billion KRW), energy welfare projects for vulnerable groups (700 million KRW), and facility improvement projects for households using LPG cylinders (700 million KRW) have been included.

In the field of training global-level energy professionals, the Regional Energy Cluster Talent Development Project (1 billion KRW) will cultivate demand-tailored energy experts equipped with both specialized knowledge and field experience.

The national budget for the energy sector secured this year is the result of dedicated efforts by all staff, including continuous consultations with related ministries from the project planning stage and close communication with the National Assembly.

Kang Sang-gu, Director of the Energy Industry Bureau of Jeonnam Province, said, "As demonstrated by the remarkable success of the Sunlight Pension case that contributed to the population increase in Sinan County this year, the energy industry is the key to overcoming the crisis of local extinction," adding, "Jeonnam will strive to become a global hub for renewable energy and make 2024 the first year of overcoming local extinction."

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