Catalyst for Taebaek's Transformation into a Clean Energy City
Taebaek City in Gangwon Province (Mayor Lee Sangho) announced on September 2 that 7.4 billion won in government funding for the core regional project, the "Taebaek Economic Promotion and Development Project," has been included in next year's national budget proposal, allowing the city to officially accelerate its transformation into a clean energy city.
The allocation of 7.4 billion won in state funds is expected to serve as a catalyst for Taebaek City's transition into a future-oriented clean energy city.
The core of the "Taebaek Economic Promotion and Development Project" is the establishment of a clean methanol production facility, with a total project cost of 354 billion won. After passing the preliminary feasibility study on August 20, the inclusion of 7.4 billion won in next year's government budget is expected to speed up the project's progress.
Meanwhile, Taebaek City has been designated as a clean methanol pilot city by the Presidential Commission on Carbon Neutrality and Green Growth 2050, and is expected to further solidify its status as a hub for carbon-free energy.
Lee Sangho, Mayor of Taebaek City, stated, "This allocation of government funding marks the beginning of our transformation from a coal city to a clean energy city, and I would like to thank the citizens for their support." He added, "We will continue to work closely with the National Assembly, the Ministry of Trade, Industry and Energy, and Gangwon Special Self-Governing Province to ensure the project proceeds without any setbacks."
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