Hoban Industrial Signs Business Agreement with Herrenknecht, the World's Largest TBM Manufacturer

▲ On the 29th, Hoban Industrial signed a business agreement with Herrenknecht of Germany for TBM technology development and mutual cooperation. Kim Jin-won, President of Hoban Industrial (right), and Nicolas Zuber, CEO of Herrenknecht Asia Regional Headquarters, are taking a commemorative photo. (Provided by Hoban Group)

[Asia Economy Reporter Lee Chunhee] Hoban Industries announced on the 29th that it signed a business agreement for domestic TBM technology development and mutual cooperation with Herrenknecht, the world's largest TBM (Tunnel Boring Machine) manufacturer from Germany, at Hoban Park Building 2 in Umyeon-dong, Seocho-gu, Seoul.

About 20 officials from both sides attended the signing ceremony, including Kim Jinwon, President of Hoban Industries; Kim Wongil, CEO of Hoban TBM; Martin Devid Herrenknecht, Vice Chairman of Herrenknecht; and Nicolas Zuber, CEO of the Asia Regional Headquarters of Herrenknecht.

Through this agreement, Hoban Industries will support Herrenknecht in manufacturing equipment suitable for domestic construction conditions and ground conditions, while Herrenknecht plans to contribute to improving Hoban Industries' construction capabilities through technical training on operating various TBM equipment.

TBM refers to an "advanced tunnel boring machine," an automated machine that can effectively excavate underground spaces using a rotary tunnel boring method instead of blasting. TBMs can be custom-made according to their purpose and terrain conditions, and are highly regarded for being environmentally friendly due to minimal noise and vibration.

Recently, Hoban Industries' subsidiary, Hoban TBM, won the contract for the gripper TBM construction work for Section 5 of the Metropolitan Express Railway (GTX) Line A (Yeonsinnae in Eunpyeong-gu, Seoul to Seoul Station in Yongsan-gu, Seoul).

President Kim Jinwon said, "With this agreement, Hoban Industries will advance its TBM construction capabilities and continuously nurture specialized personnel," adding, "We expect to achieve additional results in the domestic and international TBM markets." Herrenknecht's Vice Chairman stated, "We expect synergy to be created by combining Herrenknecht's TBM manufacturing technology with Hoban Industries' TBM operation know-how," and added, "We will actively support Hoban Industries, our partner, to gain global competitiveness."