Sancheong County Accelerates Efforts to Attract Second Pumped Storage Power Plant

Signing a Business Agreement with Korea Southern Power
Joining Forces for Smooth Project Implementation

Sancheong County in South Gyeongsang Province has begun full-scale efforts to attract a second pumped storage power plant, signing an agreement with Korea Southern Power (KOSPO).

On the 28th, Sancheong County announced that it had signed a memorandum of understanding (MOU) with Korea Southern Power for the attraction of a new pumped storage power plant project at the county government’s main conference room.

The signing ceremony was attended by County Governor Lee Seunghwa, Sancheong County Council Chairman Kim Suhan, Korea Southern Power President Kang Kiyoon, as well as representatives of residents from Samjang-myeon, Sicheon-myeon, and Danseong-myeon. All parties agreed to join forces to attract the second pumped storage power plant.

Accordingly, the two organizations will strengthen administrative cooperation for the smooth attraction of the pumped storage power plant, hold briefing sessions to enhance local residents’ understanding, support various activities to secure resident acceptance, and conduct joint promotional activities both internally and externally.

Photo of the agreement for attracting the Namdong Power Pumped Storage Plant in Sancheong County.

The new pumped storage power plant construction project being promoted by Sancheong County and Korea Southern Power has a total project cost of 1.5 trillion won and a facility capacity of over 600 MW. Construction is scheduled to begin in 2032, with completion targeted for 2038.

In particular, if the project is attracted, Sancheong County expects to secure 66.2 billion won in support funds and 65 billion won in local taxes in accordance with the Act on Support for Areas Surrounding Power Plants. In addition, the county anticipates the creation of local jobs and industrial ripple effects from construction and operation, projecting an economic impact of about 2 trillion won.

Furthermore, the plant is expected to provide a variety of additional functions in disaster prevention and response, such as supplying water for firefighting during wildfires, providing agricultural and household water during droughts, and preventing floods during heavy rainfall.

Previously, since March, the two organizations have held briefing sessions for residents of Samjang-myeon, Sicheon-myeon, and Danseong-myeon, the planned sites for the new pumped storage power plant.

They have also built consensus on the feasibility and necessity of attracting the project to the region through meetings with the county council and other discussions.

County Governor Lee Seunghwa stated, "Attracting the pumped storage power plant is not just a single project, but a major turning point for the future of Sancheong. We will do our utmost to promote the project in cooperation with Korea Southern Power."

Meanwhile, on this day, President Kang Kiyoon delivered a donation of 100 million won to support the swift recovery from wildfire damage in Sancheong and to assist affected residents.

Korea Southern Power is currently pursuing a pumped storage power plant construction plan in Geumsan County and has extensive experience in operating and constructing pumped storage power plants in Muju and Yecheon.