Phone82-2-6924-3114 (Operator)

CEO : Yoon Chun Sung

LX International, 58, Saemunan-ro, Jongno-gu, Seoul, 03184, Korea

Press room

LX International Enters the Eco-friendly Biomass Power Generation Industry

- Acquiring Poseung Green Power for 95 billion KRW with the aim of entering the eco-friendly biomass power generation industry  
- Promoting the biomass power generation industry as a new profit source due to its potential as a consistent and stable source of growth
- Development and investment in new businesses including nickel, eco-friendliness, and the distribution center to diversify the corporate business

LX International (CEO Yoon Chun Sung) enters the eco-friendliness biomass power generation industry by acquiring the local biomass power plant. Commencing with the biomass power plant acquisition, the company aims to expand its businesses to the value chain in general including the fuel and promote the eco-friendly biomass power generation business as a new profit source due to its potential growth in the future.

■ Acquiring a 63.3% share of the Poseung Green Power for 95 billion KRW to enter the eco-friendly biomass power generation industry

On April 19, LX International held a board meeting and passed the agenda regarding the acquisition of a 63.3% share of Poseung Green Power that is originally owned by DL Energy for 95 billion KRW to enter the biomass power generation industry. Poseung Green Power is a subsidiary company of DL Energy, and it currently operates the Poseung biomass power plant.

Established by DL Energy in 2014, Poseung biomass power plant is a new renewable energy power plant situated in Poseung industrial complex in Pyeongtaek, Gyeonggi-do. It generates a max. 43 MWh electricity per hour by using 250,000 tons of wood biomass a year including bio-SRF and unused woodchip as fuels. Such an amount of electricity generation can supply electricity to 100 thousand households in Seoul per year, and this power plant also operates the group energy business to supply steam to companies in Poseung industrial complex.

■ Promoting the biomass power generation industry as a new profit source due to its stable growth in the future

Starting its commercial operation in March 2018, Poseung biomass power plant raised sales of 42.8 billion KRW in the same year. Last year, through the sales of electricity, steam, and REC (Renewable Energy Certificates), its total revenue for the year was approximately 60 billion KRW. This has been the 5th year of commercial production, and the performance of this power plant remains perfectly stable more than ever.

Especially, the Poseung biomass power plant secured a stable client by concluding a long-term supply contract for the REC. Besides, the long-term contract with Bio-SRF supplier has secured a stabilized fuel supply.

According to the investigations carried out by institutions associated with energy, the biomass power generation capacity in Korea will increase from 2.2GW in 2020 to 3.3GW in 2034, while the biomass fuel usage will increase from 5 billion tons to more than 8 million tons per year.

LX International states that biomass has advantages over solar or wind energy due to the unrestricted location requirements and relatively greater generation efficiency. Also, it further argued that considering the consistent and stable development in the future, it will promote the domestic and international eco-friendly biomass power generation business as a stable profit source of the company by reviewing further  investment in greater amount of assets and expanding to the relevant fields such as fuels.

Last month, LX International acquired Korea Glass Industry which is widely known as HanGlas to prepare a bridgehead to enter the material industry.

Other than this, through the joint corporation investment in biodegradable plastic (PBAT), and development and the operational business investment in Busan eco-friendly distribution center in February, LX International has been striving to develop green-oriented new profit sources.

This year, LX International plans to mainly focus on  securing nickel assets  eco-friendly fuels including PBAT  eco-friendly business such as the biomass power generation, resources circulation, carbon reduction, etc.  development and operation of a distribution center  development and promotion of new business models that are promising in the fourth industrial revolution era.

In the meantime, LX International invested in the Hasang hydroelectric power generation plant in Indonesia to manage new renewable energy development overseas. The entire business procedures from electricity purchase, construction and the operation of the power plant was led by LX International, and the generated electricity has been stably supplied to the national power company in Indonesia in accordance with the 30-years purchase agreement.

Moreover, the Hasang hydroelectric power generation plant was recognized by the UN in December 2020 for its ability to substitute the existing fossil fuel through an eco-friendly power generation, and it has been officially registered as a greenhouse gas reduction business. As a result, it has been issued with 200 thousand tons of carbon credit per year.

This month, the EU carbon credit is trading at 78 Euros per ton, which is double the amount in comparison with this time last year when it traded at 30 Euros per tone.


* Biomass power generation: Refers to the electric generation by using the energies obtained by biomass, which is a generic term for biological organisms including plants, animals, and microorganisms, etc.

*Bio-SRF: Solid fuel made out of biomass including waste wood as its main ingredient.

*Unused woodchips: Material for the  power generation made out of unused forest biomass including the roots and branches of trees that is processed in the shape of a chip for easier combustion.

* REC: Refers to a certificate to prove the energy generation was carried out by new renewable energy development. Entrepreneurs of new renewable energy may sell the REC to large power generation companies, and the companies are responsible for generating a certain amount of electricity by using new renewable energy according to the ‘compulsory provision of the new renewable energy policy.’

Prev LX International acquires Hanglas to make inroads into domestic glass market
Next LX International Issues CSR Report With the ESG Business Results

Contact us

feel free toContact us

Tel82-2-3777-1114 (Operator)
AddressLG Gwanghwamoon B/D, 58, Saemunan-ro, Jongno-gu, Seoul, 03184, Korea
View Map

Personal Information Collection Consent *

■ Consent on Collection of Personal Information

(1) Personal Information Items to be Collected

The following personal information items are collected from the website of LX International Corp. (hereinafter referred to as the “Company”)

Personal Information Items to be Collected
Classification Collection Method Items to be Collected
Required Information Collected during customer inquiry and investment inquiry E-mail address
Automatic Collection Collected through the internet browser IP Address, cookie, date of visit, service use record

(2) Purpose of Collecting and Using Personal Information
The Company utilizes the collected personal information for the following purposes.
To secure smooth communications channel, such as delivering notices on customer inquiry and/or investment inquiry and verifying personal opinions, etc.

(3) Personal Information Retention and Use Period

The Company will retain and use the personal information within the scope consented to by the law or the user at the time of collecting the personal information.
Retention and use period of each personal information item are as follows

Personal Information Retention and Use Period
Classification Retention and Use Period
E-mail Address, IP Address, Cookie, Date of Visit, Service Use Record 3 Years

(4) Withdrawal of Consent on Collection and Use of Personal Information
User may withdraw the consent on collection and use of the personal information through the website of the Company at any time. Withdrawal of the consent can be made through contacting the privacy officer via telephone or e-mail, etc. and necessary measures, such as deleting the personal information, etc. will be made immediately. However, the above personal information are required to provide services on the customer inquiry and investment inquiry, and therefore, once the consent is withdrawn, the use of the services may be limited.

Information on the Substance When Requesting Access/Deletion of Personal Information *

■ Information on the Substance When Requesting Access/Deletion of Personal Information

When requesting to access/delete personal information, please complete the following information and submit to CONTACT US.

  • Email Address: (You must enter the e-mail address that was used when submitting to Contact Us before)
  • Matters of Request (please complete by selecting from the following.)
    • - Accessing the personal information collection consent and use details
    • - Deletion of personal information
  • Reason for the Request: (Please complete in detail.)
I have been informed on the terms of the aforementioned collection and usage of the personal information, and I consent after verifying all above terms.

Talk to
LX International

LX International is always open to listening to diverse stories from our customers. :)