Woori Technology, Nuclear Power Project Q3 Cumulative Orders Total 26.2 Billion Won

[Asia Economy Reporter Park Hyungsoo] Woori Technology announced on the 2nd that its cumulative orders in the core nuclear power plant sector reached 26.2 billion KRW, a 75.8% increase compared to 14.9 billion KRW in the same period last year, up to the third quarter of this year.

In March, Woori Technology signed a supply contract for spare parts of the non-safety grade Distributed Control System (DCS) for ‘Shin-Gori Units 5 and 6’ worth 6.4 billion KRW. In June and July, the company secured additional DCS spare parts for ‘Shin-Hanul Units 1 and 2’ and electrical control devices for the Plant Alarm System (PAS) of ‘Hanbit Units 5 and 6,’ respectively. In August, it won orders for 13 items including power supplies for planned preventive maintenance of ‘Shin-Wolsong Units 1 and 2,’ valued at approximately 3.1 billion KRW.

Beyond equipment supply, Woori Technology was finally selected in April as the routine maintenance contractor for the control and instrumentation system (MMIS) of ‘Shin-Hanul Unit 1,’ marking its new entry into the nuclear power plant maintenance sector. Routine maintenance involves daily upkeep of electrical and mechanical facilities within nuclear power plants and has been dominated by a few companies. Woori Technology secured performance in the domestic routine maintenance market, estimated at around 300 billion KRW annually, establishing a stable new growth engine in its nuclear power business division.

Considering scheduled orders for the fourth quarter and new contracts, Woori Technology expects additional orders exceeding 10 billion KRW in the nuclear power sector. The company also anticipates that next year’s nuclear power orders will surpass this year’s level. The company explained that new orders related to the recently confirmed resumption of construction for ‘Shin-Hanul Units 3 and 4’ and the government’s nuclear power revitalization policies will continue to drive order expansion.

A Woori Technology official stated, "The Korean-designed reactor ‘APR1400,’ which Korea Hydro & Nuclear Power is promoting for export to Poland, will apply Woori Technology’s control and instrumentation systems," adding, "Overseas orders are expected to increase going forward."

He continued, "Thanks to the expansion of orders in the core nuclear power sector, stable performance growth will be possible," and added, "We will also accelerate the promotion of new eco-friendly energy businesses, including offshore wind power."