A  project to change the Seoul Thermal Power Complex into an underground power plant-cum-prestige historical culture space is gaining momentum with approval from the Seoul Metropolitan Government.

Korea Midland Power Co. (KOMIPO) signed an agreement on the implementation of the projected Seoul Combined Cycle Power Units 1&2 with the Mapo Ward Office and an MOU on a culture space within the power plant with the Ministry of Culture, Sports and Tourism and the ward office on Dec. 28.

With the agreements, the project to transform the Seoul Thermal Power Complex, formerly known as the Danginni Power Complex in Seongsan-dong, Seoul, will break ground this year, ending a six-year process to push for the project that started in 2005. 

The Seoul Combined Cycle Power Plant Project, being implemented according to the third national power supply master plan, calls for building two combined cycle power units with a combined electricity capacity of 800MW and heating facilities with a capacity of 530Gcal/h by December 2016.

The new power units, to be placed on the site of the former Danginni Power Plant, will be placed underground, the first such one in the world, forming aesthetics and harmony with its surroundings. The upper part of the new power units will be made into a public park, catering to the general public’s interests. 

In addition, Seoul Thermal Power Units 4&5, to be decommissioned, will be a culture creation plant, similar to the Tate Modern, which is based in a former power plant site in London and is among the most visited art galleries in the world.

EMERGING GREEN MARKET 

KOMIPO President & CEO Choi Pyeong-rak said in his New Year’s message, “The energy industry is seen to be in a state of opportunity in disguise as the global energy demand is on a constant rise thanks to an increase in populations and developing countries’ economic growth.”

Countries across the globe are increasingly participating in the so-called green race to reduce greenhouse gas emissions in the wake of global climate change and the development of new and renewable energy sources, said Choi, adding that the energy ecosystem is in an expansionary phase amidst a cycle of energy production, consumption, and recycling. It is the reason the industry could evolve despite global business risks and the downturn of the domestic economy.

Choi said now is the time when more challenges and lots of efforts are needed to make a jumpstart in the global green energy market °™  aggressive engagement as a major producer in the energy ecosystem. 

KOMIPO has declared the “Shared Growth 3.0 New Paradigm,” by upgrading the existing shared growth strategies with SMEs. 

The power company held an event dubbed “KOMIPO 2013 Talk Concert with the CEO” in the presence of 200 KOMIPO executives and staff members in Seoul on Jan. 30 and unveiled the upgraded paradigm for shared growth. 

The upgraded version calls for stressing social responsibility as a public enterprise beyond Version 1.0 of unilaterally offering support for shared growth and Version 2.0 of shared growth including the sharing of performances. It set three strategies for restoring entrepreneurships and nurturing innovative and SME stalwarts °™ by spreading the shared growth culture, building a sound corporate ecosystem, and raising competitiveness  along with 63 action tasks for shared growth. 

KOMIPO has embarked on a benefit-sharing system with SMEs in accordance with the new paradigm for shared growth. The power company held a ceremony to launch the “Benefit Sharing Agreement and Collaboration in Overseas Entry” at the Grand InterContinental Hotel in Seoul.