President Park Hyung-gu of Korea Midland Power Co. (KOMIPO) and Boryeong Mayor Kim Dong-il pose after they signed an MOU with Boryeong City to establish a low-carbon, virtuous cycle platform to reduce greenhouse gas emissions and boost efforts to make eco-friendliness part of their daily lifeat the Boryeong municipal government on June 4. (Photos: KOMIPO)

Korea Midland Power Co. (KOMIPO) signed an MOU with Boryeong City to establish a low-carbon, virtuous cycle platform to reduce greenhouse gas emissions and boost efforts to make eco-friendliness part of their daily lives.

KOMIPO President Park Hyung-gu and Boryong Mayor Kim Dong-il attended the signing ceremony at the Boryeong municipal government on June 4. The low-carbon, virtuous cycle platform is a way of utilizing the proceeds accrued from the selling of carbon emission reductions (CERs) as incentives to induce Boryeong citizens’ participation in efforts to preserve energy.

Under the agreement, KOMIPO will explore companies which have room to reduce greenhouse gas emissions and support facility investments and administrative costs. The Boryeong municipal government will pay carbon points equivalent to twice Boryeong citzeins’ energy conservation, using the money from the selling of CERs.

KOMIPO President Park said, “We at KOMIPO expect that efforts to make eco-friendliness part of their daily lives will be spread by successfully establishing a low-carbon, virtuous cycle platform.” KOMIPO will do its best as a public enterprise to spearhead greenhouse gas emission projects in Korea and abroad down the road, he added.

KOMIPO Prepays REC Purchase Money to Small Photovoltaic Power Businesses

Korea Midland Power Co. prepaid for renewable energy certificates (RECs) to smaller photovoltaic power businesses grappling with the economic fallout of the spread of COVID-19.

KOMIPO prepaid money equivalent to 100 percent of the REC proceeds that small photovoltaic power businesses are expected to reap for the next three months.

KOMIPO also put into practice efforts to ensure public safety of the local community and share energy by installing three solar trees in the Boryeong area.

KOMIPO President Park said KOMIPO will be committed to fulfilling social responsibilities as a public entity by proactively exploring steps to overcome hardships, caused by the spread of COVID-19.

Noh Woong-hwan, head of KOMIPO’s business division, and Prof. Hwang Jin-taek of Jeju National University Electric Engineering Department attend a session to inaugurate “KOMIPO Green New Deal Task Force” designed to cope with the sagging economic activities and eco-friendly trends of the times and comply with the “Korean Green New Deal” policies at Mudrin Hotel in Boryeong on May 28.

KOMIPO Inaugurates ‘POSCO Green New Deal Task Force’

KOMIPO held a session to inaugurate “KOMIPO Green New Deal Task Force” designed to cope with the sagging economic activities and eco-friendly trends of the times and comply with the “Korean Green New Deal” policies at Mudrin Hotel in Boryeong on May 28.

The task force consists of three subcommittee related to the development of new/renewable energies, investment & manpower development, and job creation & digital technology.

The formation of the task force is designed to establish and implement KOMIPO’s mid- and long-term strategies to comply with energy paradigm shift, a key task of the Korean Green New Deal Project.