Andong City, MDM Asset Management, Daewoo Construction, and KT Sign MOU on 19th
Promoting Renewable Energy, Energy Self-Sufficient Smart Farms, and Community-Based SOC
Developing Private Investment Content Linked to Three Major Cultural Zone
On the 19th, representatives from Andong City Hall, MDM Asset Management, Daewoo Construction, and KT signed an MOU at Andong City Hall.
[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Gwi-yeol] The largest investment project in the history of Andong City, Gyeongbuk, has been launched.
On the 19th, Andong City signed a Memorandum of Understanding (MOU) on an investment agreement regarding the ‘Renewable Energy and Energy Self-Sufficient Smart Farm Creation and Life-Closely SOC Project’ at the City Hall Communication Room.
At the signing ceremony, Andong Mayor Kwon Young-se, MDM Asset Management CEO Park Jae-yong, Daewoo Construction Executive Director Hong Min-pyo, and KT Gyeongbuk Corporate Customer Manager Lee Sung-dae participated and agreed to cooperate for the success of the investment project.
The investment scale reaches 1 trillion won, making it the largest in Andong City's history.
The main contents of the project are ▶ the establishment of a ‘hydrogen fuel cell power plant,’ a renewable energy power source that is eco-friendly, low-pollution, low-noise, and highly efficient, ▶ the creation of an ‘energy self-sufficient 3rd generation smart farm,’ an unmanned and automated farm utilizing renewable energy and the convergence of advanced technologies such as IT, big data, artificial intelligence, and robotics, ▶ the construction of ‘Dosan Bridge,’ which will improve accessibility to the Korean Culture Theme Park within the 3 Major Cultural Zone project site and become a landmark, ▶ and the installation of a ‘cable car’ set against the scenic backdrop of Andong Lake.
This private investment project is expected to open a new path for the local economy, which has been stagnant due to COVID-19 and a low-growth trend.
Andong City plans to actively promote administrative support measures, such as establishing a cooperative system with related departments from the early stages of the project to support various permits and administrative procedures.
In addition, MDM Asset Management and other agreement companies will make every effort to implement the planned investment project and expand the investment scale. They will also contribute to revitalizing the local economy by encouraging the participation of local construction companies, prioritizing the purchase of locally produced materials and equipment, and inducing local employment creation.
An official from Andong City said, “We hope this will be an opportunity for related industries such as renewable energy and tourism to develop further,” and added, “We hope to upgrade the city’s competitiveness through private-led creative content development and infrastructure acquisition, leading to a new growth momentum.”
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