Gyeongsangnam-do Supports Market Entry into High Potential Markets for Korean Nuclear Power Plant Orders, Paving the Road to Exporting Nuclear Power and Power Equipment
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- Registration date : 24.04.17
Title: Gyeongsangnam-do Supports Market Entry into High Potential Markets for Korean Nuclear Power Plant Orders, Paving the Road to Exporting Nuclear Power and Power Equipment
Content: Gyeongsangnam-do Supports Market Entry into High Potential Markets for Korean Nuclear Power Plant Orders, Paving the Road to Exporting Nuclear Power and Power Equipment
- Efforts are being made to enter the Middle Eastern and European markets in connection with overseas nuclear power plant projects: Turkey-KEPCO and Poland-KHNP
- Recruiting companies for the 2024 nuclear power and power equipment export project, targeting the Middle East and Europe
- Applications are open until Apr. 19 through the Gyeongsangnam-do Overseas Marketing Business Support System
The Gyeongsangnam-do Provincial Government (Governor Park Wan-su) is recruiting 10 local small and medium-sized enterprises (SMEs) to participate in the 2024 Nuclear Power and Power Equipment Project Targeting the Middle East and Europe. This initiative aims to provide export opportunities for companies in the nuclear power and power equipment industries by supporting their entry into the Middle East and Europe—the two regions where the potential for winning nuclear power plant orders is high.
This project covers the 2024 Turkey-Korea Nuclear Power and Renewable Energy Export Conference in Istanbul (Jul. 1–3) and the Korea-Poland Nuclear Power and Power Equipment Export Conference in Warsaw (Jul. 4–5). Among the benefits for participating companies are exhibition opportunities, buyer matching, export consultation meetings, and a one-way airfare ticket.
The 2024 Turkey-Korea Nuclear Power and Renewable Energy Export Conference will be held at the Nuclear Power Plants VI Expo & X. Summit in Istanbul. Concurrently, export consultation meetings with buyers recruited by the KOTRA Istanbul Trade Office will take place near the expo site. Side events include visits to the Electricity Generation Company (EUAS), a local state-owned power company.
The 2024 Korea-Poland Nuclear Power and Power Equipment Export Conference will proceed with meetings with buyers unearthed through the KOTRA Warsaw Trade Office. A pre-market assessment will be conducted to select participating companies that meet local buyer demands. The aim is to improve the effectiveness of the consultations. A briefing session for entering the nuclear power and power equipment market will also be held in collaboration with the local Korea Hydro & Nuclear Power (KHNP) office.
Turkey is considering three nuclear power plant projects to reduce its dependence on foreign energy sources. One project under consideration is the construction of the Sinop Nuclear Power Plant. Negotiations with the Turkish government are ongoing between Korea Electric Power Corporation (KEPCO) and Russia. If KEPCO wins orders for this project, it is expected to improve future export opportunities for domestic companies in Turkey. This includes supplying materials for the Akkuyu Nuclear Power Plant, which is currently under construction.
Poland, on the other hand, is also seen as a country with a high potential for nuclear power plant orders. KHNP has currently signed letters of intent with Polish private power company ZE PAK and state-owned power company PGE for the construction of two APR-1400 units. KHNP plans to establish a special purpose corporation (50:50 fund) with the Polish, initiating joint business development.
* APR-1400: A next-generation nuclear power model independently developed by Korea, applied to Shin Kori 3, which achieved commercial operations in December 2016.
The goal of this event is to attract 20 institutions and companies involved in overseas nuclear power. It also aims to conduct over 20 consultation sessions, with the total value of consultations expected to exceed USD 3 million.
Korea Trade-Investment Promotion Agency (KOTRA), the host of this project, is a public institution operating trade offices in 84 countries and 129 cities worldwide. With a strong advantage in buyer recruitment through its global network, this project is expected to achieve high satisfaction in consultations.
Local SMEs in the nuclear power and power equipment industries wishing to participate can submit their applications by Apr. 19 at trade.gyeongnam.go.kr. A pre-consultation meeting will take place following the selection of final companies in April.
For further inquiries, contact the Gyeongsangnam-do International Relations and Trade Division (+82-55-211-3185) or the KOTRA Support Center, Gyeongnam (+82-55-290-0601). For more information about export projects sponsored by the Gyeongsangnam-do Provincial Government held this year, go to trade.gyeongnam.go.kr.
