Yeosu Gwangyang Port Authority and GS Caltex Co., Ltd. Sign Land Sale Contract

Hydrogen Production and Power Generation Projects, Carbon Dioxide Capture, Export Facility Plants, etc.

Yeosu Gwangyang Port Authority (President Park Seong-hyun, hereinafter referred to as the Authority) announced on the 28th that it has signed a land sale contract with GS Caltex Co., Ltd., the preferred bidder for the A2 site (approximately 250,000㎡) of the 1st phase of the Gwangyang Port Yulchon Convergence Logistics Complex Development Project.

The signing ceremony was attended by Park Seong-hyun, President of the Authority, Kim Jeong-su, Vice President of GS Caltex Co., Ltd., and officials from both companies.

[Photo by Yeosu Gwangyang Port Authority]

Once the site development work is completed, GS Caltex Co., Ltd. plans to invest a large amount over about three years to install facilities and factories necessary for hydrogen production and power generation projects, as well as carbon dioxide capture and export.

Through this, it is expected to greatly contribute to revitalizing the local economy by generating new cargo volume, reducing carbon emissions, and creating employment.

Additionally, on this day, the Authority also delivered a letter of integrity containing efforts and practices to realize ethical management.

Park Seong-hyun, President of the Authority, said, “We will continue to strive to revitalize Gwangyang Port and the local economy by attracting investments from excellent companies.”