Thanks to the latest contract, the company, which posted a sales revenue of 5.6 billion won and an operating loss of 6.3 billion won, is expected to improve its financial performance. According to the company, it took two and a half year to develop the coal drying equipment jointly with Korea South East Power. The new equipment is capable of transforming low-grade coal (3,800 kcal per kilogram of coal) into a high-grade one (5,300 kcal per kilogram).

 

According to Hankook Technology, the power generation company will process 2,400 tons of coal through the coal-drying machine a day beginning in January next year. Shin Yong-gu, vice president of Hankook Technology, said, "We are looking into ways to export the technology to overseas including countries like Indonesia and South Africa."