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Busan's Sinpyeong Jangnim Industrial Complex to Be Transformed into an Energy Self-Sufficient Smart Green Industrial Complex

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Busan Metropolitan City, led by Mayor Chun Jae-soo, announced that the consortium led by Korea Southern Power Co., Ltd. has been selected for the Ministry of Trade, Industry and Energy's Industrial Complex Energy Self-Sufficient Infrastructure Development Project, securing KRW 20 billion in national funding.

The project aims to establish a renewable energy production and management system at the Sinpyeong Jangnim Industrial Complex, which has been in operation for more than 20 years, while supporting tenant companies in improving energy efficiency and fulfilling carbon neutrality and RE100 commitments.

The project will be carried out over four years, from 2026 to 2029, with a total budget of KRW 32 billion, consisting of KRW 20 billion in national funding, KRW 3 billion from Busan Metropolitan City, and KRW 9 billion in private investment. A business agreement is scheduled to be signed in July, with full-scale implementation beginning in August.

Korea Southern Power Co., Ltd. will lead the project, with a total of eight participating organizations and companies, including Busan Techno Park and Grand Sun Technology Group.

Through this project, Busan Metropolitan City plans to transform the Sinpyeong Jangnim Industrial Complex into an export-oriented smart industrial complex equipped with an environmentally friendly energy infrastructure.

Since its establishment in 1990, the Sinpyeong Jangnim Industrial Complex has faced challenges in strengthening industrial competitiveness due to aging industrial facilities, an industrial structure centered on traditional manufacturing sectors such as machinery and textiles, and insufficient infrastructure.

To address these challenges, Busan Metropolitan City will promote rooftop solar power installations throughout the industrial complex, provide energy diagnostics, consulting services, and support for replacing outdated equipment with high-efficiency alternatives for tenant companies, and build intelligent power grid stabilization facilities, thereby facilitating the transition to an environmentally friendly green industrial complex.

The City also plans to establish a virtuous cycle by returning a portion of the revenue generated from solar power generation to tenant companies and workers in the form of solar income and carbon vouchers, while reinvesting the proceeds in carbon reduction facilities.

Park Dong-seok, Director General of the Advanced Industry Bureau of Busan Metropolitan City, said, "This project is a key initiative to transform an aging industrial complex into an environmentally friendly, low-carbon industrial complex while helping tenant companies respond to increasingly stringent global carbon regulations and RE100 requirements. We will ensure the successful implementation of renewable energy deployment, energy efficiency improvements, and power grid stabilization to reduce corporate energy costs and enhance the sustainable competitiveness of the Sinpyeong Jangnim Industrial Complex."