The nation’s largest one-on-one conference in the electrical power equipment sector, Power-Tech Korea 2015, is being held for two days at COEX.
Along with the Korea Electric Engineers Association (KEEA), the Korea Trade-Investment Promotion Agency (KOTRA) is hosting the event at COEX from May 13 to 15. It is being jointly held with Global Electric Power Tech and includes by 85 electric power companies, ordering organizations, EPCs, and electric equipment companies from 25 countries. These companies had meetings with 350 domestic small and medium sized companies for exports.
In a bid to encourage the mutual growth of small and mid-sized firms and coexistent cooperation, this event is sponsored by six domestic power companies: Korea South-East Power Co., Ltd. (KOSEP), Korea Hydro & Nuclear Power Co., Ltd. (KHNP), Korea Midland Power Co., Ltd. (KOMIPO), Korea Western Power Co., Ltd. (KOWEPO), Korea Southern Power Co., Ltd. (KOSPO), and Korea East-West Power Co., Ltd (EWP).
As Japan decided to liberalize the electricity retail market in 2016, 50 new entrants are highly likely appear in the market. Under these conditions, Toshiba visited Korea to seek competitive Korean electrical equipment. Also, Kansai Electric Power Co., Inc., an electric utility with the operational area of the Kansai region in Japan, introduced its new procurement system in order to improve participation of domestic companies in open procurement bidding.
Meanwhile, Vattenfall, one of Europe’s leading offshore wind power operators, visited Korea to seek out related companies to secure Korean monopile products, which are more cost effective than European ones, after it recently won a contract to build the Horns Rev 3 offshore wind park in Denmark.
Attending the event on the day, Doyle Beneby, president of CPS Energy, the electric power company of San Antonio, said, “The quality of Korean electric generating products and facilities boasts a world-class level. Since they are competitive enough in the global power market, we are willing to continuously cooperate in the future.”
Moreover, officials from Shanghai Electric and East China Electric Power Design Institute (ECEPDI), the nation’s largest companies in the power transmission and distribution sectors of China, the largest exporter of Korean power equipment, visited Korea and discussed measures for Korean companies to be part of new power plant construction projects in China with EWP and its cooperative companies.
Meanwhile, KOTRA invited power companies of emerging target markets such as Indonesia, Pakistan, and Bangladesh, and held a briefing session on participation in projects and registration of vendors on May 14.