Expanding Mutual Cooperation Through Sisterhood Alliance
50 Million Won in Relief Funds Donated for Heavy Rain Damage
Sancheong County, which is promoting a bid for the construction of a new pumped-storage power plant, has joined forces with Korea South-East Power Co.
On September 4, Sancheong County in South Gyeongsang Province announced that it held a sisterhood alliance agreement ceremony with Korea South-East Power Co. at the county governor’s office to expand regional exchange and strengthen cooperation for the new pumped-storage power plant construction project.
At the ceremony, Governor Lee Seunghwa and Kang Kiyoon, CEO of Korea South-East Power Co., attended to celebrate the sisterhood alliance and solidify the foundation for mutual cooperation in the region. In particular, through this alliance, the two parties aimed to cooperate on pumped-storage power development and promote ongoing mutual growth.
Group photo of Sancheong County and Korea South-East Power Co. sisterhood alliance and relief fund donation ceremony.
With this alliance, the two organizations will work together on: discovering and collaborating on joint projects to revitalize the local economy; cooperating in the development of renewable energy, including the successful promotion of Sancheong County’s pumped-storage project; jointly conducting social contribution and volunteer activities; and invigorating exchanges such as promoting the consumption of local agricultural specialties, regional festivals, and cultural and artistic events.
Additionally, at the ceremony, Korea South-East Power Co. donated 50 million won through the Korean Red Cross to support the swift recovery of Sancheong County, which recently suffered severe damage from extreme heavy rains, and to aid affected residents. The donation will be used as funds for disaster recovery and resident support in Sancheong County.
CEO Kang Kiyoon stated, "This agreement marks the beginning of a partnership that goes beyond simply pursuing a project, but grows together with the region," adding, "We will continue to strengthen communication and cooperation with the local community to achieve sustainable energy development and regional co-prosperity."
Governor Lee Seunghwa said, "I am grateful for the warm sharing extended to our residents who are struggling due to the extreme heavy rains," and added, "I hope this sisterhood alliance will serve as a foundation for a sustainable cooperation model where the local economy and culture grow together."
Meanwhile, the bid for the construction of the new pumped-storage power plant being promoted by Sancheong County and Korea South-East Power Co. involves a total project cost of 1.5 trillion won and a facility capacity of over 600 MW, with construction scheduled to begin in 2032 and completion targeted for 2038.
If selected, Sancheong County expects not only to secure 66.2 billion won in support funds and 65 billion won in local taxes in accordance with the Act on Assistance to Areas Surrounding Power Plants, but also to create local jobs and generate industrial ripple effects, resulting in an estimated 2 trillion won in economic impact from construction and operation.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
