DL E&C announced on the 21st that it signed a ‘Bucheon-style New Deal Policy - Business Agreement for Economic Revitalization’ with Bucheon City on the 18th at Bucheon City Hall. This agreement was promoted based on the consensus that regional economic revitalization and job creation require local government’s political support.

 

The Bucheon Combined Heat and Power (CHP) Plant, currently under construction by DL E&C, is a large-scale construction site that employs up to 500 workers per day. Based on this agreement, DL E&C will prioritize the use of local businesses, equipment, and materials, and will also give hiring priority to local workers. DL E&C aims to revitalize the local economy and to create jobs. It also plans to create a safe and healthy working environment without delayed payment of wage.

 

Bucheon City shares data on local businesses, labor force, equipment and materials, and provides administrative support so that the data can be utilized efficiently.

 

The construction industry has a high economic stimulus effect. Once construction begins, it creates demand for various materials, heavy equipment and jobs, and workers spend money at nearby stores, which also helps revitalize the commercial district. According to the Korea Institute for Industrial Economics and Trade, the employment induction coefficient of the construction industry as of 2020 was 10.8, which is significantly higher than the average of the manufacturing industry (6.5). The employment induction coefficient refers to the number of workers directly or indirectly employed to produce goods worth KRW1 billion.

 

The modernization of the Bucheon Combined Heat and Power Plant is a project for modernizing an aged power plant, which is ordered by GS Power, the operator of the Bucheon Combined Heat and Power Plant. DL E&C is in charge of construction, which began in December 2023 and is currently 25% complete. 

 

Kim Seong-Geun, head of Domestic Power Generation Business at DL E&C, said, “We are pleased to contribute to the revitalization of Bucheon region where our construction site is located. We will continue to actively communicate and cooperate with Bucheon City to create a construction culture that coexist with the local community.”

 

Cho Yong-Ik, the mayor of Bucheon city, said, “We thank DL E&C for their participation in Bucheon’s key projects despite difficult economic conditions, and for their efforts to develop the local economy. We hope for continued support in expanding opportunities for participation of excellent local companies in construction projects so that we can coexist with the local community and achieve great outcomes.”