According to Yonhap News,



Jeonnam Governor Park Jun-yeong (South Jeolla Province) signed an MOU to jointly push forward international green bio projects with President Kim Yeong-han of Korea Electric Power Industrial Development Corporation (KEPID), and Chancellor Kim Yun-su of Chonnam National University.



According to the MOU, the three organizations will lay the foundation for wood pellet production in Indonesia and Malaysia and construct a biomass combined heat and power plant in Jeonnam.



They also agreed to secure carbon credits by transforming an abandoned forest into an economic forest and to work on forest development projects including the wood pellet manufacturing in the Maritime Province in Russia.



To this end, Jeonnam-do plans to aggressively support overseas resource development projects of KEPID. Chonnam National University will support technology development to commercialize overseas forest resources and biomass and install a technology center for biomass commercialization.



The MOU is expected to invigorate overseas resource development and lay the groundwork for wood pellet production factories to be built in Jeonnam.



Jeonnam expects that Palm Kernel Shell (PKS) and sawdust, whose prices are low and efficiency is high, will be distributed to farming houses, contributing to the reduction in the production costs.



This MOU is the follow-up agreement for the MOU, Jeonnam signed with the state of Sulawesi, Indonesia last September for cooperation in resource development.



Source Text



Source: Yonhap News (Nov. 4, 2010)



**This is an English translation of a Korean news article.