[Asia Economy Reporter Jang Hyowon] Daewoo Shipbuilding & Marine Engineering Construction, a subsidiary of Korea Technology (CEO Shin Yonggu), a KOSDAQ-listed company, announced on the 5th that last month it signed a Memorandum of Understanding (MOU) at the Daewoo Shipbuilding & Marine Engineering Construction headquarters with Eunsung ONC, Woongjin Development, Gyeongjin Energy, and KT Submarine to promote the EPC (Engineering, Procurement, and Construction) project for offshore wind power complexes.
According to the MOU, the five companies will establish a mutually strategic cooperative relationship for the design, equipment procurement, and construction of domestic and overseas offshore wind power plants.
Daewoo Shipbuilding & Marine Engineering Construction, which will be in charge of overall construction, plans to negotiate with related clients and form a consortium with other construction companies as the primary contractor. Woongjin Development and Eunsung ONC will be responsible for offshore structure installation work, Gyeongjin Energy will handle the transportation and installation of wind turbines, and KT Submarine will be in charge of purchasing and installing submarine cables.
From the left, Kyungjin Energy CEO Kim Byung-yeon, Eunseong ONC CEO Eun Hee-seong, Daewoo Shipbuilding & Marine Engineering Construction CEO Seo Bok-nam, KT Submarine CEO Kim Hyung-jun, Woongjin Development Executive Director Kim Sang-kwon. / Photo by Korea Technology
The offshore wind power generation project is emerging as a core part of the 'Green Energy' initiative, one of the ten major representative tasks of the Korean New Deal promoted by the government, and it is expected to create large-scale employment opportunities through the purchasing, transportation, and construction processes for complex development.
On the 5th of last month, President Moon Jae-in attracted attention by announcing plans to invest 48 trillion won in the Jeonnam Sinan offshore wind power project, aiming to become one of the top five offshore wind power countries by 2030, during the 'Regional Balanced New Deal Tour' held in Sinan, Jeonnam.
A company official said, "Through this agreement, a blueprint for the offshore wind power complex project has been established," adding, "We plan to play a key role in the offshore wind power generation business, which is expected to reach a scale of 100 trillion won in the future, and actively expand into overseas offshore wind power projects."
Meanwhile, Daewoo Shipbuilding & Marine Engineering Construction recently announced its entry into renewable energy by winning a 480 billion won contract for the Saemangeum offshore wind power complex construction project and signing a business agreement for the Ariul offshore wind power complex construction project, which is scheduled to be built near Jeonbuk.
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