Press Release

Doosan Heavy Industries & Construction announced on July 13th that it had signed an “MOU on Cooperation for Next Generation Korean Standard Combined Cycle Power Plant Installation” with Korean Western Power Co. Close to 30 people from the two companies were in attendance at the signing ceremony, including Byungsook Kim, President of Korea Western Power Co., and Yeonin Jung, President & COO of Doosan Heavy Industries & Construction.

With the signing of this MOU, for the medium to long term, the two parties seek to jointly develop a Korean standard combined cycle power plant(CCPP) model that is competitive in the CCPP market at both home and abroad, and collaborate on making good use of their global business networks and effectively develop the overseas markets for the next generation Korean standard CCPP model.

Furthermore, the two companies will be joining forces to promote the growth of the Korean gas turbine industry by supporting small & medium enterprises(SMEs) and mid-sized companies on their technology development efforts for domestically-made power equipment and materials and will actively seek to develop sales channels in both the domestic and overseas markets.

When Doosan had signed a gas turbine supplier agreement with Korea Western Power Co. last December for the Gimpo Combined Heat & Power(CHP) Plant, it had secured the opportunity to conduct a demonstration run of the large gas turbine that it had successfully developed on its own. Korea Western Power Co. will be working with Doosan to facilitate the successful launch of the next generation Korean standard CCPP model by providing Doosan with the operating and technical data acquired over the years from their demo projects.

“With the signing of this MOU, we will be able to produce even more tangible results by combining KOWEPO’s commitment to promoting growth of Korea’s gas turbine industry with Doosan’s efforts to support this,” said Yeonin Jung, COO of Doosan Heavy Industries & Construction. He added, “We also aim to contribute to promoting the gas turbine industry by establishing a virtuous system of mutual growth with our partners in Korea.”

According to the recently released 9th Basic Plan for Electricity Supply & Demand, buoyed by plans that include having 24 of the 30 coal-fired thermal power plants converted to natural gas power plants, it is forecast that Korea’s natural gas market will grow explosively from 41.3GW in 2020 to 60.6GW by 2034.”

▲Doosan Heavy’s COO Yeonin Jung (on the right) and KOWEPO President Byungsook Kim pose for a photo at the signing ceremony for the “MOU on Cooperation for Next Generation Korean Standard CCPP Installation” held on July 13th at The-K Hotel Seoul in Yangjae-dong.

▲Doosan Heavy’s COO Yeonin Jung(seventh person on the left), KOWEPO President Byungsook Kim (sixth person on the left) and related parties pose for a group photo at the signing ceremony for the “MOU on Cooperation for Next Generation Korean Standard CCPP Installation” held on July 13th at The-K Hotel Seoul in Yangjae-dong.