According to Yonhap News,
Hyundai Energy is to hold a ground-breaking ceremony at Yeosu National Industrial Complex in South Jeolla Province on December 3 to build a cogeneration plant in Yeosu.

Hyundai Energy is planning to invest KRW 540 billion to set up the cogeneration plant, which is expected to be completed by 2012 for industrial processing steam production within the Yeosu Industrial Complex.

These facilities will produce 700 tons of steam, electricity, and hot water on a daily basis.

The ground-breaking ceremony will be attended by more than 100 dignitaries including Hyundai Energy CEO Bang Jeong-bok, Korea Electric Power Corporation CEO Kim Ssang-su, Yeosu Mayor Oh Hyun-seop, lawmaker Joo Seung-yong, and City Council Chairman Park Jeong-chae, and Hyundai Engineering and Construction, Korea Midland Power Co. CEO Jang Do-su, etc.

The cogen plant is forecast to create over 100,000 new jobs during the construction period and add over 100 jobs after completion.

Hyundai Energy, a joint venture among Yeocheon TPL (Han Mun-seon), Hyundai Engineering & Construction, and Korea Midland Power Co., is the first Hyundai E&C affiliate located in the Yeosu Industrial Complex, boding well for regional industrial development.

Source: Yonhap News (December 1, 2009)

** This is an English translation of a Korean news article.