SEOUL, Aug. 1 (Korea Bizwire) – The Ministry of Agriculture, Food and Rural Affairs (MAFRA) revealed Monday that Korea Western Power Co. (KWP), one of the six major power producers in Korea, will collaborate with a tomato farm in Hongseong County (Octo & Jain) and a Nonsan strawberry farm (Nakwon Farm) to reduce greenhouse emissions.
The projects are the first fruit of last year’s memorandum of understanding, signed by MAFRA, KWP, and South Chungcheong Province, for coexistent cooperation in greenhouse gas reduction and agricultural development.
The KWP will offer the two farms 250 million won ($225,000) in funding to establishing new low-carbon agricultural facilities, accounting for about half of the standard installation fees. Octo & Jain will have a geothermal heat pump installed to replace a diesel furnace, while Nakwon Farm will be equipped with a wood pellet furnace for heating.
The new installations are expected to reduce annual greenhouse gas emissions by about 1,600 tons, while farms will also be able to trim operating costs with the new equipment. And because the reduced emissions will be attributed to KWP as part of its certified emissions reductions, the venture is a win-win for both parties, according to the ministry.
The MAFRA, KWP, and the province plan to provide funding of 10 billion won to local farms over the next five years to promote similar energy reduction efforts, and the construction of new and renewable energy facilities.
By Lina Jang (email@example.com)