"Sustainable Leap as a Company"
Fostering LNG, Hydrogen, Solar, Wind, etc.
Also Data Center Park and Wellness Residential Complex
Boseong Group is changing its name to ‘BS Group’ and reinventing itself as a clean energy developer. The company will focus on fostering energy businesses such as LNG, hydrogen, solar power, and wind power.
Boseong Group Changes Name to BS Group
The new CI unveiled by BS Group on the 2nd, along with the name change, was created by combining the three-color symbol of blue, orange, and green, which represent the management philosophy of challenge, passion, and creativity, with ‘BS (Beyond Sustainability),’ meaning ‘beyond sustainability.’
It signifies the company’s commitment to growing into an eco-friendly future city and a clean energy company beyond sustainability. Major affiliates, including Hanyang, known for its housing brand ‘Sujain,’ will also add ‘BS’ before their existing names. BS Hanyang, the group’s core affiliate, secured a stable order backlog of 7 trillion KRW last year, ensuring steady work for the next five years.
BS Group is transforming into a clean energy developer through the gradual growth of energy businesses such as LNG, hydrogen, solar power, and wind power. The group is advancing the ‘Northeast Asia LNG Hub Terminal’ project, which involves constructing three 200,000㎘ LNG storage tanks, vaporization and sending facilities, and a pier facility with a maximum capacity of 100,000 tons on approximately 270,000㎡ of reclaimed land in Myodo, Yeosu-si, Jeollanam-do. Leading the entire project from development to site preparation and securing demand, BS Group is enhancing its capabilities as an energy developer. Last year, it signed a shareholder agreement with GS Energy and attracted a government regional revitalization investment fund in cooperation with Jeollanam-do and others. The project aims for commercial operation of LNG storage tanks 1 and 2 by 2028.
BS Group plans to use the Northeast Asia LNG Hub Terminal as a forward base for the ‘Myodo Eco Energy Hub,’ designated last year as an opportunity development special zone. Through this, the Myodo Eco Energy Hub will be developed into a carbon-neutral energy cluster or green energy power complex capable of advancing projects such as hydrogen, CCUS, ammonia, district energy, solar and wind power generation, and ESS.
The group is also fostering the renewable energy sector. BS Group has experience in EPC and operation of large-scale land and floating solar power plants, including the ‘Solar City Solar Power Plant,’ which had the largest power generation capacity (98MW) and the world’s largest ESS (306MWh) at the time of completion, as well as the Goheungman and Haechangman floating solar power plants. Additionally, through cooperation with domestic and international companies, including CIP (Copenhagen Infrastructure Partners), the world’s largest green energy developer, BS Group is exploring additional business opportunities in wind power and other areas.
Acceleration of Eco-Friendly Future City ‘Solar City’
BS Group is also accelerating the development of the eco-friendly future city ‘Solar City.’ Solar City is a large-scale public-private urban development project covering approximately 20.9 million㎡ (6.32 million pyeong) in Haenam-gun, Jeollanam-do, jointly promoted by BS Industrial, which handles BS Group’s real estate development, BS Hanyang, and Jeollanam-do. It aims to be a renewable energy city, smart city, garden city, and wellness city, creating an eco-friendly self-sufficient city where nature, people, and advanced information and communication (IT) technology coexist.
BS Group is building a 1GW-class Solar City artificial intelligence (AI) data center park. This project secured tax benefits and other incentives after the data center site in Solar City was designated as a government opportunity development special zone in June last year. In October of the same year, BS Group signed an agreement with Jeollanam-do and Korea Electric Power Corporation to expedite power infrastructure construction, and the development is progressing sequentially. BS Group plans to develop not only the data center park but also an RE100 industrial complex totaling 2GW to foster a specialized area model that promotes distributed energy. To this end, it will establish a 3GW-class solar power and 7GW-class wind power generation complex near Solar City. By directly supplying up to approximately 22TWh of power annually to the ‘Renewable Energy Hub Terminal,’ it will solve the intermittency problem of renewable energy and realize local consumption of locally produced power. Furthermore, surplus power will be supplied to national strategic advanced industry companies in the metropolitan area through the Southwest Coast HVDC (high-voltage direct current transmission) scheduled for completion in 2036.
A BS Group official stated, “Based on stable business performance in construction and real estate development, we will create visible results in eco-energy businesses such as LNG and hydrogen, renewable energy businesses including land and floating solar and wind power, a 1GW-class AI data center park, and the eco-friendly future city Solar City development project with wellness residential complexes. Through this, we will leap forward as a sustainable company promoting eco-friendly future cities and clean energy businesses.”
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