SEOUL, President Moon Jae-in will attend a ceremony this week to announce plans to establish a renewable energy production complex on a vast tract of reclaimed land on the west coast, his office said Monday.

During the ceremony set for Tuesday in the west coast city of Gunsan, Moon plans to unveil his vision for a top-notch renewable energy production cluster in the reclaimed Saemangeum region by 2022, officials said.

The government reportedly plans to attract about 10 trillion won (US$8.77 billion) of private capital to set up a massive complex of solar and wind power plants capable of producing as much power as four nuclear power reactors before Moon's term ends in 2022.

Reducing South Korea's reliance on nuclear power was one of Moon's key campaign promises. During the campaign, he called for increasing renewable energy to about 20 percent of the country's total power production by 2030.

Source: Yonhap News Agency