The proprietary post-combustion CO2 solvent (KoSol) developed by the Korea Electric Power Research Institute (KEPRI) was applied at the Shanghai Shidongkou CO2 Capture Pilot Plant (China Huaneng CERI, capacity: 120,000 ton CO2/yr) of the China Huaneng Group (CHNG) for performance evaluation. The key results of the pilot test and data on the South Korean/Chinese electric power market were used to calculate the predicted cost of CO2 avoided upon deployment of CO2 capture technology in commercial-scale coal-fired power plants. Sensitivity analysis was performed for the key factors. It is estimated that, in the case of South Korea, the calculated cost of CO2 avoided for an 960 MW ultra-supercritical (USC) coal-fired power plant is approximately 35~44 USD/tCO2 (excluding CO2 transportation and storage costs). Conversely, applying the same technology to a 1,000 MW USC coal-fired power plant in Shanghai, China, results in a slightly lower cost (32~42 USD/tCO2). This study confirms the importance of international cooperation that takes into consideration the geographical locations and the performance of CO2 capture technology for the involved countries in the process of advancing the economic efficiency of large-scale CCS technology aimed to reduce greenhouse gases.