Korea's first coal-to-cleaner-fuel conversion project... Invested 871.6 billion won, 501.4 MW capacity

Gyeongsangbuk-do held a completion ceremony for the Gumi Natural Gas Power Plant on Wednesday, September 16, at the Gumi High-Tech Valley National Industrial Complex (Complex 5).

About 200 people attended the event, including Gyeongsangbuk-do Governor Lee Cheol-woo, National Assembly Member Kang Myung-gu, Gyeongsangbuk-do Provincial Council Chairman Kim Hee-soo and provincial councilors, Gumi Mayor Kim Jang-ho, Gumi City Council Chairman Kang Seung-soo, Korea Western Power CEO Lee Jung-bok, and local residents.

The Gumi Natural Gas Power Plant is South Korea's first fuel conversion project, replacing Taean Thermal Power Unit 1 with natural gas power generation. Following its inclusion in the 8th Basic Plan for Long-term Electricity Supply and Demand in 2017, the project obtained a power generation business license and approval for the power source development project implementation plan, broke ground in December 2022, and entered commercial operation this February.

Korea Western Power invested a total project cost of 871.6 billion won to build the Gumi Natural Gas Power Plant with a facility capacity of 501.4 MW. It is projected to produce approximately 2.75 million MWh of electricity annually, which accounts for about 30% of Gumi City's electricity consumption in 2025. Over the next 30 years, an economic impact of approximately 81.6 billion won is expected, including local taxes and subsidies for areas surrounding the power plant.

Based on its specialized semiconductor materials and components complex and defense innovation cluster, Gumi is rapidly expanding its industrial domain into humanoid robots, manufacturing AX (AI Transformation), and AI data centers.

As the industrial structure upgrades from a manufacturing city to a center for advanced industries, the importance of securing stable power is also growing. Given that sufficient power supply is a crucial location condition for corporate investment in power-hungry advanced industries, this completion holds great significance in adding a 501.4 MW power generation base to Gumi's industrial transition period.

Gyeongsangbuk-do Governor Lee Cheol-woo said, "The power foundation supporting Gumi's advanced industries has been further strengthened," adding, "Moving forward, we will create a structure where enterprises and industries come to regions where power is readily prepared, turning Gyeongbuk's abundant power advantages into a new growth engine."

Gyeongsangbuk-do plans to link power and industrial locations by attracting companies with massive electricity demand to electricity-producing regions, thereby accelerating corporate investment and reducing the burden of expanding transmission grids. It also plans to continuously advocate for additional reductions in industrial electricity rates so that the regional differential electricity pricing system can serve as a practical incentive to attract corporate relocation and investment.