LH Leads Carbon Neutrality at Miryang Nano Convergence National Industrial Complex

On the 2nd, Gyeongnam Province, Miryang City, Korea Electric Power Corporation, and Korea East-West Power Co., Ltd. Signed a Business Agreement
Promoting Land Sale and Use, Construction of Energy Storage Facilities and Hydrogen Fuel Power Plants in Industrial Complexes
Continuing Implementation of Low-Carbon and Smart Green Government Policies in Jeonju Carbon and Daegu Yulha National Industrial Complexes

Kim Hyun-jun, President of LH (second from right in the photo), from the left, Kim Tae-ok, Vice President of Korea Electric Power Corporation, Park Il-ho, Mayor of Miryang, Ha Byung-pil, Acting Governor of Gyeongnam Province, and Kim Young-moon, President of Korea East-West Power, are posing for a commemorative photo after signing a business agreement on the 2nd for the purchase and use of the site of the Miryang Nano Convergence National Industrial Complex.

[Asia Economy Reporter Kangwook Cho] Korea Land and Housing Corporation (LH) announced on the 2nd that it signed a business agreement at Miryang City Hall with Gyeongsangnam-do, Miryang City, Korea Electric Power Corporation, and Korea East-West Power to purchase and use the site of the Miryang Nano Convergence National Industrial Complex.

Attending the agreement were Ha Byung-pil, Acting Governor of Gyeongsangnam-do, Park Il-ho, Mayor of Miryang, Kim Hyun-jun, President of LH, Kim Tae-ok, Vice President of Korea Electric Power Corporation, and Kim Young-moon, President of Korea East-West Power Co., Ltd.

The Miryang Nano Convergence National Industrial Complex is a national industrial complex being developed by LH since 2017 in Bubuk-myeon, Miryang City, Gyeongsangnam-do, covering an area of 1,656,000㎡ (500,000 pyeong), aiming to foster specialized local industries in line with the national balanced development policy.

As part of the 'Smart Green Industrial Complex Promotion Strategy' announced by the government at the 33rd Emergency Economic Central Countermeasures Headquarters in April, efforts are underway to install energy storage facilities and hydrogen fuel power plants in the Miryang Nano Convergence National Industrial Complex in collaboration with Gyeongsangnam-do, Miryang City, Korea Electric Power Corporation, and Korea East-West Power to implement energy self-sufficiency policies utilizing carbon neutrality and renewable energy.

This agreement was made to clarify the roles of each institution and accelerate energy self-sufficiency based on ongoing discussions regarding the realization of a low-carbon society and the activation of the renewable energy industry.

First, LH will provide land for the construction of energy storage facilities and hydrogen fuel power plants. It will sell 86,000㎡ to Korea Electric Power Corporation and 17,000㎡ to Korea East-West Power, handle permits and approvals by reflecting necessary matters in the land use plan, and further focus on the ongoing industrial complex construction to ensure timely completion of various infrastructure.

Korea Electric Power Corporation will build an Energy Storage System (ESS), a materials center, and substations necessary for power supply to the industrial complex, while Korea East-West Power Co., Ltd. will construct a 15MW-class clean hydrogen fuel cell power plant.

Gyeongsangnam-do and Miryang City pledged active administrative support to ensure smooth progress of the project.

Additionally, the five institutions agreed to develop a collaborative model so that the Miryang Nano National Industrial Complex can become a hub for the Korean New Deal and carbon neutrality, and to work on building an energy self-sufficiency ecosystem including solar power generation and the establishment of a hydrogen-specialized complex.

With this agreement, the Miryang Nano Convergence National Industrial Complex is expected to develop into a new energy economy platform producing and supplying clean energy with hydrogen fuel cell power plants, hydrogen and electric charging stations, and energy storage facilities.

In particular, it is anticipated to break away from the energy inefficiency and high consumption structure of existing industrial complexes and respond to the new international order of carbon neutrality by establishing carbon emission reduction plans from the initial planning stage of the industrial complex, evolving into a low-carbon, high-efficiency energy production model.

LH is also actively promoting the development projects of the 'Jeonju Carbon National Industrial Complex' and the 'Daegu Yulha Urban High-tech Industrial Complex,' which were selected by the Ministry of Land, Infrastructure and Transport as national pilot industrial complexes for smart green industrial complexes in June to achieve 'Carbon Neutrality 2050.' Through the creation of industrial complexes equipped with advanced smart infrastructure, LH plans to actively support the government's energy policy implementation environment.

Kim Hyun-jun, President of LH, said, "By collaborating with each institution to carry out the government's Green New Deal policy, we expect this to become an exemplary governance cooperation model for carbon neutrality," adding, "We will also actively promote the Miryang National Industrial Complex development project to transform it into a regional hub attracting jobs, talent, and investment."