Joint Efforts
Korea’s six power generation companies – Korea Southern Power Co. (KOSPO), Korea Hydro & Nuclear Power Co. (KHNP), Korea South-East Power Co. (KOSEP), Korea Midland Power Co. (KOMIPO), Korea Western Power Co. (KOWEPO) and Korea East-West Power Co. (EWP) – and the Korea Electrical Manufacturers Association (KOEMA) are taking the initiative in laying the groundwork for domestic smaller companies to push into the Chinese power market.
The KOSPO announced on November 8 that it provided support to 14 Korean small and mid-size firms so that they could participate in the EP China 2016 held in Beijing, China, for three days from the 2nd to 4th.
At the event, the six power generation companies and the KOEMA jointly helped the 14 smaller companies, including Kwangsung Co., build the market and served as a control tower by running the Korean power industry promotion hall to introduce the excellence of domestic products.
In particular, they analyzed the product features and correlation by the participating firms and put them on display accordingly at the combined equipment exhibit hall, doubling a synergy to develop the market.
During the trade fair, more than 300 international buyers visited the Korean smaller business promotion hall and had 193 consultation meetings for export worth US$87.81 million (99.84 billion won). As a result, the contracts worth US$4.84 million (5.5 billion won) came through.
An official from the KOSPO said, “The Korean six power firms joined forces to help the products of smaller businesses open up the overseas market. We will examine and analyze the outcome of heavy equipment support projects and the feedbacks of companies and remove inefficient factors in a bid to improve the effectiveness of support projects further next year.”