'The Power of South Korea's Heavy Industries'... President Moon Visits Doosan Heavy Industries to Encourage Innovation in Eco-Friendly Energy

Visit to Factory after Gyeongnam Changwon New Deal Smart Green Industrial Complex Event
Signature on Gas Turbine Blade: 'The Power of Daehanminguk Heavy Industries!'

[Image source=Yonhap News]

[Asia Economy Reporter Ki-min Lee] On the 17th, President Moon Jae-in visited the Doosan Heavy Industries & Construction Changwon Plant after attending the 'Korean-style New Deal Smart Green Industrial Complex' event in Changwon, Gyeongsangnam-do.

The visit included President Moon, Minister Sung Yun-mo of the Ministry of Trade, Industry and Energy, Governor Kim Kyung-soo of Gyeongsangnam-do, President Kim Jong-gap of Korea Electric Power Corporation and presidents of its power generation subsidiaries, Chairman Park Ji-won of Doosan Heavy Industries & Construction, President Kim Joon-seop of Jin Young TBX, and representatives of partner companies.

Doosan Heavy Industries & Construction, which is focusing on fostering eco-friendly energy sectors in line with the Green New Deal, introduced the status of its eco-friendly energy business and the gas turbine, which it successfully developed as the fifth in the world, to President Moon and other attendees.

President Moon showed keen interest in the exhibition of Green New Deal product lines such as offshore wind power, hydrogen liquefaction plants, and fuel cells, then inspected the gas turbine blades, combustors, and the main body of the gas turbine. At this occasion, President Moon signed the gas turbine blade with the words “The power of Korea’s heavy industry! Moon Jae-in.”

◆Doosan Heavy Industries & Construction Innovates from Coal-fired and Nuclear Power to Eco-friendly Energy Company

President Moon Jae-in signed the gas turbine blade on the 17th.
[Image source=Yonhap News]

Doosan Heavy Industries & Construction, which had focused on coal-fired and nuclear power generation manufacturing, is transforming into an eco-friendly energy company by entering the gas turbine, offshore wind power, hydrogen, and fuel cell businesses.

The pioneer in Doosan Heavy Industries & Construction’s eco-friendly energy business is the gas turbine. Since 2013, Doosan has played a leading role in the development project of the Korean standard gas turbine model and succeeded last year in developing the world’s fifth and Korea’s first independent large-scale gas turbine model for power generation. To develop the gas turbine, 341 small and medium-sized enterprises, 20 universities, and three government-funded research institutes collaborated in the domestic industry-academia-research network.

Doosan Heavy Industries & Construction has also invested approximately 1 trillion KRW in research and development to localize and commercialize power generation gas turbines, which had been entirely dependent on imports. With about 20GW of gas power generation expansion expected domestically by 2034, Doosan plans to focus on the domestic market and establish a domestic gas turbine industry ecosystem. In addition, it will actively promote overseas exports of the Korean standard gas turbine model and expand gas turbine service business orders to overseas countries such as Egypt and Saudi Arabia, in addition to the ongoing projects in the United States and Mexico.

In the renewable energy sector, Doosan provides integrated solutions based on its capabilities in wind power and energy storage systems (ESS). Doosan Heavy Industries & Construction is the only company in Korea with achievements in offshore wind power, having supplied wind turbines to Tamna Offshore Wind Power and Southwest Offshore Wind Power projects. It owns offshore wind turbine models of 3MW and 5MW, and plans to complete development of a new large 8MW model in 2022.

The domestic offshore wind power market is expected to expand by more than 12GW over the next 10 years. Doosan’s wind power business aims to achieve rapid growth by establishing a mass production system based on the domestic market and simultaneously targeting overseas markets. Doosan Heavy Industries & Construction, which also possesses essential ESS technology for stable supply of renewable energy, will focus on providing integrated solutions to expand eco-friendly energy supply.

Doosan Heavy Industries & Construction is also gaining competitiveness in the hydrogen market, which is emerging as a new energy source, by promoting Korea’s first hydrogen liquefaction plant project together with Changwon City. In particular, it is expected to strengthen its hydrogen business as it is set to become the largest shareholder of Doosan Fuel Cell through the free transfer of shares held by the major shareholder of Doosan Fuel Cell.

By securing Doosan Fuel Cell’s eco-friendly small power generation technology, which is recognized for its outstanding technology in the global power generation fuel cell market, Doosan Heavy Industries & Construction has established an eco-friendly power generation technology lineup consisting of fuel cells (440kW), wind power generation (3~8MW), and gas turbines (270MW, 380MW).

Park Ji-won, Chairman of Doosan Heavy Industries & Construction, said, “As a leading domestic eco-friendly energy company, we plan to continuously develop and supply excellent products and technologies that respond to the Green New Deal policy.” He added, “Through this, we will actively lead the revitalization of the domestic industrial ecosystem in gas turbines, offshore wind power, and hydrogen businesses.”