Samcheok Energy will from now on sell the electricity generated from the power plant to the electricity exchange. Meanwhile, Tongyang Cement will keep earning incomes from the operation as it will supply waste heat coming from its cement kilns.
Since the announcement of restructuring in December last year, Tongyang Group has been busy selling off its assets including a ready-mixed cement plant (114.5 billion won), a ship (35.0 billion won), a refrigeration warehouse (34.5 billion won), and a pile business unit (117.0 billion won). The group is in talks with suitors to dispose of Tongyang Magic (kitchen appliance unit) and the textile division of Tongyang Corp.
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