LG to make Jeju free of carbon emissions by 2030

May 29, 2015
LG President Ha Hyeon-hoi, right, poses with Jeju Special Self-Governing Province Governor Won Hee-ryong after LG agreed with the nation's southern resort island to jointly develop future energy projects. The signing was held in a main office in Jeju, Tuesday. (Courtesy of LG)

LG President Ha Hyeon-hoi, right, poses with Jeju Special Self-Governing Province Governor Won Hee-ryong after LG agreed with the nation’s southern resort island to jointly develop future energy projects. The signing was held in a main office in Jeju, Tuesday. (Courtesy of LG)

By Kim Yoo-chul

LG Group has joined with Jeju Special Self-Governing Province to push for new, eco-friendly energy businesses and make the island free of carbon by 2030.

It said Thursday that it will convert the resort island into the center for future energy projects, making the most of its competitiveness in energy solutions such as rechargeable batteries and energy storage products. LG Chem is the global leader in the field.

It will continue to replace fossil fuel with regenerative energy such as wind and solar on the island. LG plans to build facilities capable of producing 2.35 gigawatts of wind power.

It will also expand solar power facilities. All vehicles will ultimately be replaced with those powered by electricity.

“The purpose of the strategic tie-up is to establish a ‘Global Eco-Platform.’ This is to make the island a center for electric vehicles and eco-friendly, regenerative energy,” said Jeong Jung-wook, head of LG’s public relations team.

He pledged to help the island build infrastructure and provide support for startups.

It expects the project will create more than 50,000 jobs and nurture competent small and medium-sized enterprises.

LG plans to invest up to 3 trillion won (US$2.7 billion) by 2018 and 6 trillion won by 2030. The alliance calls for the establishment of a special purpose company (SPC) next year to carry through the project.

The group’s core units will give the island a foothold for making inroads into the global market in the fields of regenerative energy, electric vehicles and smart homes.

It will install a grid system to better manage hundreds of power plants and energy storage solutions (ESS) for a stable power supply, and regenerative power plants to generate solar power.

“One of the challenges of renewable power like wind and solar is that it can be interrupted, and these elements could affect the stability of the power produced,” Jeong said. “The question is how to move as much electricity as possible from renewable generation sites like hydro plants and wind parks without impairing the function of the power networks that need it. This is why do we need stable grid technology.”

LG Chem will be in charge of building ESS systems based on its lithium-ion batteries.

This system will level out load peaks and connect more renewable energy to existing electrical networks by correcting the destabilizing effect of renewable power.

Meanwhile, the alliance will operate a control center to analyze and monitor the demand and supply for energy on a real time basis, with the proportion of regenerative energy expected to reach 55 percent by 2020 and 100 percent by 2030.

The number of EVs will grow to 377,000 by 2030 from the current 852. LG agreed with Jeju to increase the number of charging stations for EVs to 15,000.

LG Electronics will manage the development of solar power and wind turbines. LG’s IT solutions unit of LG CNS will manage the grid.

One Comment

  1. khan

    June 29, 2015 at 4:54 AM

    We are planning to travel south Korea Cheju island , we are Pakistani nationality citizen of Pakistan ordinary passport hold,

    When we are go to book our flight route- Lahore Pakistan to Cheju Korea all flight operate via Soule Inchon airport Korea, if we be used this route they demand visa for travel Korean as pre visa policy agreement Pakistan and Korea, there are no visa free transit facilities at arrival hall for short time specially travel to Cheju island airport gave Pakistan national 30day visa facilities tourism tourist promote the business actives its new rule Korea free falsities only Cheju island promote the tourism actives ,

    What is solution in this case find out this matter best option, can you provide best way to book our flight,
    with best hope
    1MERAJ/SARFRAZ MR

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