MOTIE Hosts Plant EPC Policy Forum

2024-10-29

The Ministry of Trade, Industry, and Energy (MOTIE) of South Korea, in collaboration with the plant industry, convened a forum on October 14th in Seoul to discuss policy measures aimed at achieving the nation's $33 billion plant EPC order target for the year.

Approximately 100 people participated, including Mr. In-kyo Jeong, head of the Trade Negotiation Headquarters at the MOTIE, along with government and institutional officials from organizations such as the Export-Import Bank of Korea, the Korea Trade Insurance Corporation, and KOTRA. Mr. Chang-hak Kim, president of the Plant Industry Association, and representatives from private companies including DL E&C, GS Engineering & Construction, and SK Eco Engineering were also in attendance. They discussed future development strategies for the plant EPC industry.

To achieve the goal of carbon neutrality, the world is switching from carbon-based fossil fuels to carbon-free energy, including hydrogen. Trying to switch. For the transition to hydrogen, large-scale plant EPC projects will be followed throughout the entire process from mass hydrogen production to transportation, storage, and construction of a utilization system.

Mr. In-kyo Jung, head of the Trade Negotiation Headquarters, said, “Overseas plant orders are a key means of recovering exports.” He said, “The government will also spare no support to achieve this year’s plant order target of $33 billion.” He added, “We hope that the government’s recent strengthening of cooperation in the ‘Global South (Third World developing countries)’ will lead to business opportunities in the plant sector.”

Source: https://m.edaily.co.kr/News/Read?newsId=01184086639052920&mediaCodeNo=257