Yeongju City Secures 1,2 Trillion Won Clean Hydrogen Power Plant… “Aiming to Become Korea’s Hydrogen Hub”

Yeongju City in North Gyeongsang Province has secured a 1.2 trillion won clean hydrogen power plant construction project, declaring its ambition to become the “center of clean hydrogen in Korea.”

On September 8, Yeongju City announced that it had signed a memorandum of understanding for joint cooperation and investment in the carbon-free power plant development project with Gyeongbuk Province and Korea East-West Power. This project represents the largest investment attraction in the city’s history and is considered a major initiative that will transform the region’s industrial landscape over the next decade

The project aims to build a 500MW carbon-free clean hydrogen power plant and a battery energy storage system (BESS) on a 115,700-square-meter site in Yeongju City from 2025 to 2035.

The economic ripple effect is also significant. The construction and operation of the power plant are projected to generate 100.8 billion won in local tax revenue and 17.4 billion won in support funds for surrounding areas, with an estimated production inducement effect of approximately 2.346 trillion won. During the construction period, up to 1,000 jobs per day and a total of more than 10,000 jobs are expected to be created, which is anticipated to help revitalize the local construction industry.

This agreement is not simply about attracting investment but is regarded as a strategic project aligned with the government’s carbon neutrality and clean energy policies. Gyeongbuk Province will provide administrative support for the hydrogen supply chain, Yeongju City will strengthen its administrative support system for civil affairs, and Korea East-West Power will be responsible for ensuring project stability and technology development.

The synergy with the Yeongju Advanced Bearing National Industrial Complex and existing industrial areas is also substantial. The creation of an industrial cluster that integrates energy and manufacturing is expected to serve as a catalyst for attracting related industries such as AI data centers.