BusinessKorea held an interview with Kim Tae-woo, executive vice-president and head of the Nuclear Power Plant Business Group at Doosan Heavy Industries to let readers better understand the nuclear power plant business.
Q: What does the UAE nuclear plant project mean to your company?
A: I think we landed the UAE nuclear plant project as the global market has finally recognized Korea’s advanced technology in nuclear plant construction and operation. I am proud that Doosan Heavy Industries has helped to enhance the reputation of Korea. We might not have been able to win this contract without proactive government support and the concerted passion and efforts of KEPCO and other Korean nuclear power companies. By winning this contract, we are now able to compete shoulder to shoulder with the U.S., France, Japan and Russia in a golden market where another 430 units worth KRW1,200 trillion are scheduled to be constructed by 2030.
Q: As the main equipment supplier, what was Doosan’s role in winning this contract?
A: The UAE Nuclear Power Corporation set forth that the main condition for the contract was that the completion of May 2017 be adhered to. We showed UAE authorities that Doosan Heavy Industries is one of the world’s leading nuclear plant material suppliers, one that is able to compete against Japan’s JSW and France’s CFI and that it is capable of meeting the due date. Delegates from the investigation paid several visits to Doosan Heavy Industries’ Changwon plant during the bidder evaluation period and scrutinized the company’s capability to supply the main equipment for nuclear plants. I think we earned their trust in our capability through their on-site visits to our factories. They visited our factories to witness the whole main equipment manufacturing process for new nuclear plants currently under construction in the U.S. and China.
Q: What competitive edge does Doosan Heavy Industries possess in the manufacturing of the main equipment used in nuclear plant construction?
A: We have an advantage in that we have a package production line that can manufacture all the materials needed for a nuclear plant in a single factory. Having completed a technology-intensive packaged production system, we provide a comprehensive guarantee service for operation of nuclear plants covering from large-scale main equipment to the finished products. While competitors such as AREVA and GE-Hitachi have had little experience supplying the main equipment for new nuclear reactors over the past 20 years, Doosan has supplied 20 units of main equipment for nuclear plants in the same period, a world record. We have manufactured and supplied the main equipment for most of the new nuclear plants currently in operation in Korea. In 2007, we won the main equipment supply contract to supply 3rd generation nuclear plants in Sanmen City and Haiyang City, China. In 2008, we successfully landed contracts to supply the six main equipment for the three new nuclear power plants in the U.S., which has recently resumed constructing nuclear power plants for the first time in 30 years, and proving our technological and manufacturing competitiveness.
Q: What is your outlook for the future nuclear plant market and what are Doosan’s future plans?
A: Turkey and Jordan are about to construct nuclear power plants, and other countries including the U.S., China and India are also planning additional nuclear power plants. As mentioned before, we expect a renaissance of the nuclear plant industry as a total of 430 more units are scheduled to be manufactured by 2030 in order to comply with strengthened greenhouse gas emission regulations. This UAE project has laid the foundation for the Korean nuclear plant industry to advance into the global nuclear plant market. Taking advantage of this opportunity, Doosan Heavy Industries will advance into the overseas markets in the future and continue to invest in technological development and manufacturing facilities so as to grow as a global player in the nuclear power plant main equipment market.