Korea’s Hwasun coal mine ends 118-year run

Miners are closing the shaft in Hwasun coal mine, which is set to close on June 30. [Photo by Yonhap]

Korea’s Hwasun coal mine in South Jeolla Province is closing on Friday after serving as the backbone of the nation’s industrial development throughout its 118-year history, according to the Ministry of Trade, Industry and Energy on Thursday.

“We have been discussing the closure of the three coal mines owned by Korea Coal Corp. in Hwasun, Taebaek, and Samcheok since last year due to safety and cost concerns. In February, we reached an agreement to close these coal mines sequentially,” said an official from the ministry.

Following the decision, Taebaek’s Jangseong coal mine will close next year, followed by the Samcheok Dogye coal mine in the subsequent year, following the footsteps of the Hwasun coal mine. Once these three mines are closed, only one coal mine will remain in South Korea: the privately-owned Samcheok Gyeongdong coal mine.

Coal mines have been facing safety concerns, especially regarding possible accidents involving workers, as coal mines continue to deepen their shafts while their facilities age. Cost concerns have also emerged due to the escalating production costs resulting from a decline in briquette demand, leading to an increase in accumulated debt at Korea Coal Corp. and financial support from the government. The early closure of the mines is projected to save about 1 trillion won ($756 million) in state finances, according to the industry ministry.

The Hwasun coal mine, which opened in 1905, embarked on full-scale mining operations in 1934.