Osan City Enters Donation Agreement for Social Welfare Comprehensive Support Center

Osan City (Mayor Kwak Sang-wook) held a donation agreement signing ceremony on the afternoon of the 6th at the City Hall Situation Room with DS Power Co., Ltd., which produces alternative energy, the future power source with the environment as the top priority, to support the construction of a Social Welfare Comprehensive Support Center.

This agreement signing followed Daesung Industries' expression of intent in September to support the construction of the Osan Combined Heat and Power Plant as part of corporate social contribution initiatives, after which both parties formed a task force (T/F) for project promotion and conducted discussions on detailed construction plans and business agreements.

In October, DS Power Co., Ltd., the project operator in charge of construction work for the Osan combined heat and power plant, demonstrated its commitment to actively participate in improving community welfare by allocating a portion of corporate profits, leading to its selection as the support contractor for the Osan Social Welfare Comprehensive Support Center, and the agreement signing ceremony proceeded accordingly.

The agreement signing ceremony was attended by Osan City Mayor Kwak Sang-wook and related senior civil servants, while DS Power Co., Ltd. was represented by President Jang Young-jin and executive members, who united their efforts to ensure smooth construction of the Social Welfare Comprehensive Support Center.

At the signing ceremony, Mayor Kwak Sang-wook stated, “I express my gratitude to DS Power Co., Ltd. for their efforts in building the Social Welfare Comprehensive Support Center, which will serve as a hub for welfare services.”

In response, DS Power Co., Ltd. President Jang Young-jin said, “I am very pleased that we can contribute to the construction of a Social Welfare Comprehensive Support Center in Osan City, which is emerging as the nation's premier education city and a 100% hopeful welfare city.”

Following this agreement, Osan City will carry out administrative procedures for the construction of the Social Welfare Comprehensive Support Center, while DS Power Co., Ltd. will bear construction costs of approximately 4.5 billion won, land acquisition fees, and various furniture and equipment costs necessary for the project.

The Social Welfare Comprehensive Support Center will begin site selection in December of this year, break ground in February of next year, and is scheduled to be completed in October 2014 with one basement level and four above-ground floors.