Bukpyung power station

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Bukpyung power station (북평화력) is an operating power station of at least 1190-megawatts (MW) in Donghae, Gangwon, South Korea. It is also known as Buk-Pyeong power station; GS Donghae power station, 북평화력.


Table 1: Project-level location details

Plant name Location Coordinates (WGS 84)
Bukpyung power station Donghae, Gangwon, South Korea 37.480546, 129.143343 (exact)

The map below shows the exact location of the power station.

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Unit-level coordinates (WGS 84):

  • Unit 1, Unit 2: 37.480546, 129.143343

Project Details

Table 2: Unit-level details

Unit name Status Fuel(s) Capacity (MW) Technology Start year Retired year
Unit 1 operating coal - anthracite 595 supercritical 2017 2047
Unit 2 operating coal - anthracite 595 supercritical 2017 2047

Table 3: Unit-level ownership and operator details

Unit name Owner
Unit 1 Korea East-West Power Co Ltd, ST International Corp
Unit 2 Korea East-West Power Co Ltd, ST International Corp


The project is a joint venture between STX Electric Power, a subsidiary of STX Energy (which is a subsidiary of STX Group), and Korea East-West Power. STX Energy, which owns 51 percent of the project, is in charge of building and managing the plant while Korea East·West Power will be in charge of operations and maintenance. The project is slated for completion in 2016.[1]

The project is one of the first coal plants in Korea to be built by an independent power, or merchant power, company.[2] STX Energy was acquired by GS E&R in 2014.[3]

Construction was stalled in 2016 due to financial difficulties facing construction contractor STX Heavy Industries, with commissioning postponed to 2017. At the time unit 1 was under test operation.[4][5]

Construction resumed in late 2016.[5] Unit 1 began commercial operation in March 2017.[6] Unit 2 was commissioned in August 2017.[7]

Units 1 and 2 are scheduled to close by 2047.[8]


In 2021, GS Donghae Electric Power was accused of failing to complete the construction of the Bukpyeong 2nd General Industrial Complex to go with the coal plant and as promised to the local community. In addition, civic groups criticized the private company's requests to preserve investment costs for the environmentally damaging coal plant. The power plant’s establishment worsened dust pollution and other issues already present at the Donghae Port.[9]


In 2013, a financing agreement for the plant was closed.[10]

The power station received a total of at least KRW 1.6 trillion in debt financing (approximately US$1.4 billion), including:

  • South Korea's National Pension Service (NPS) provided KRW 82 billion (US$74 million)[11]
  • Nonghyup Life, a subsidiary of Nonghyup Financial Holdings, provided KRW 131 billion (US$118 million)[11]
  • Industrial Bank of Korea provided KRW 82 billion (US$74 million)[11]
  • the Korean Development Bank (KDB) provided KRW 85 billion (US$219 million)[12]
  • Woori Bank provided KRW 77 billion (US$70 million)[12]
  • Hana Bank provided KRW 79 billion (US$71 million)[12]
  • Busan Bank provided KRW 30 billion (US$27 million)[12]
  • Samsung Life Insurance provided KRW 210 billion (US$189 million)[12]
  • Samsung Fire & Marine Insurance provided 140 billion (US$126 million)[12]
  • Kyobo Life Insurance provided KRW 80 billion (US$72 million)[12]
  • Hanwha Life Insurance provided KRW 70 billion (US$63 million)[12]
  • Shinhan Life provided KRW 10 billion (US$9 million)[12]
  • Heungkuk Life Insurance provided KRW 99.7 billion (US$89.7 million)[12]
  • Korean Development Bank Life Insurance provided KRW 158 billion (US$142 million)[12]
  • Lotte Insurance provided KRW 79.1 billion (US$71 million)[12]
  • DB Insurance provided KRW 97.8 billion (US$88 million)[12]
  • Heungkuk Fire & Marine Insurance provided KRW 28.9 billion (US$26 million)[12]
  • The Korean Federation of Community Credit Cooperatives provided KRW 82 billion (US$74 million)[12]

The project cost 24% more than originally budgeted.[13]

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Additional data

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