Hyundai Construction announced on the 24th that it has signed a business agreement with Itochu Corporation and Itochu Plantech of Japan. Established in 1858, Itochu is one of Japan's leading general trading companies, operating in a wide range of sectors including textiles, machinery, metals and minerals, energy and chemicals, and real estate. Itochu Plantech, a subsidiary of Itochu Corporation, primarily focuses on EPC (Engineering, Procurement, and Construction) projects.
Under this agreement, the companies will seek various opportunities for collaboration in key business areas that both sides are focusing on, including the construction of pumped-storage power plants utilizing public financial resources, global data centers, and hydrogen and ammonia projects. Previously, Hyundai Construction and Itochu Corporation have worked together on a variety of projects, including the construction of large-scale energy plants such as regional power plants in Indonesia.
Yasuhiko Asada, President of Itochu Plantech (from left), Hanwoo Lee, CEO of Hyundai Construction, and Hiroyuki Tsubai, Vice President of Itochu Corporation, are taking a commemorative photo after signing a business agreement at the Itochu Corporation headquarters in Tokyo, Japan, on the 22nd. Provided by Hyundai Construction
Hyundai Construction also held consecutive meetings with Japanese engineering firms JGC and Toyo Engineering. JGC is the top local global engineering company specializing in the plant and construction sectors. Toyo Engineering has also built a reputation for its expertise across all aspects of plant construction through long-term collaboration.
A company representative stated, "Marking the 60th anniversary of diplomatic relations between Korea and Japan, we will further promote exchanges between leading companies of both countries for mutual benefit and sustainable development," adding, "By combining each company's business capabilities and technological strengths, we aim to strengthen our leading position in new growth sectors."
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