South Korea will completely shut down three out of the ten coal-fired power plants that are over 30 years old by the end of this year. This is a follow-up measure taken by the Moon Jae-in administration which previously announced a temporary shutdown of eight old coal power plants during the month of June.
The one month-long shutdown of the eight old coal power plants can cause a 68-billion-won increase in electricity bills.
The Ministry of Trade, Industry, and Energy announced on May 30 that after a month of temporary shutdown in June, the coal-fired Seocheon Power Plant No. 1 and No. 2 and the Youngdong Power Plant No. 1 will enter a process of permanent shutdown from July.
The ministry added that the Seocheon Power Plant No. 1 and No. 2 are expected to be completely shut down by October or November this year. The Youngdong Power Plant No. 1 will be transformed into a renewable energy plant by replacing its fuel to biomass. email@example.com
The National Pension Service (NPS) has begun running an emergency inspection system for its investment management department with the appointment of acting chief investment officer and global alternative investment head, the South Korean pension fund said on July 25. In-Sik&hellip
South Korean asset managers are joining hands with French property investment firms to buy prime commercial buildings in the Netherlands and Belgium as they are turning eyes to the Benelux region for higher returns, sending their real estate values to&hellip
Blackstone, Kuwait Investment Authority (KIA) and three property investment firms are vying for Sony Center in Berlin which South Korea’s National Pension Service (NPS) has put on the block in a transaction expected to fetch around €1.1 billion ($1.3 billion),&hellip