Press Release

Doosan Heavy Industries & Construction announced that it had signed a "MOU on Promoting Growth of the Korean Gas Turbine Industry" with Korea Electric Power Corporation (KEPCO), five public companies of the power sector* and small and medium-sized parts & materials suppliers** at the Grand Intercontinental Hotel in Seoul on September 23.
* Korea South-East Power Co., Korea Midland Power Co., Korea Western Power Co., Korea Southern Power Co., Korea East-West Power Co.
** NRTEC, Daechang Solution, Korea Lost-Wax, Samjin Metal, Unicon System

By signing the MOU, public companies of the electric power sector and those from the gas turbine industry agreed to strengthen cooperation in the following three areas – the implementation and demonstration of LNG combined cycle power plants(CCPP), the securing of growth drivers for the domestic gas turbine industry’s innovative growth and the technology development and talent cultivation for sustainable growth.

Participants of the event remarked that “LNG-based power generation will become an increasingly important source of energy as we seek to maintain a stable power supply throughout the energy transition process. We have gathered here to build a framework for cooperation on securing competitiveness of the gas turbine, which is a key component of power generation.”

As specified in the MOU, the parties will develop detailed cooperation plans, starting with the plans concerning Korea's first gas turbine demonstration project at the Gimpo Combined Heat & Power Plant, and they will also seek ways to operate a year-round cooperation channel at the working-level as a means of cultivating a sound industrial ecosystem.

"Working together with several small and medium-sized enterprises, Doosan seeks to actively execute this MOU as part of our efforts to promote growth of the Korean gas turbine industry. Based on these efforts, we plan to expand into the overseas LNG CCPP market and develop this area as the next generation business for new growth,” said Doosan Heavy’s President & COO Yeonin Jung.

Earlier this month on September 17, South Korea’s President Moon Jae-in visited Doosan Heavy's Changwon Plant to commend and encourage the efforts for gas turbine development. Since 2013, Doosan has been leading a project on development of a Korean standard gas turbine model, which culminated in the successful development of Korea's first large-scale gas turbine for power plants last year.

▲On Sept. 23, Korean power companies and those from the industry signed a MOU on promoting growth of Korea’s gas turbine industry at the Grand Intercontinental Hotel in Seoul. (From left to right) Korea East-West Power Co. President Il-jun Park, Korea Southern Power Co. President Jeong-shik Shin, Korea Western Power Co. President Byeong-sook Kim, Korea Midland Power Co. President Hyeong-gu Park, Korea South-East Power Co. President Hyang-reol Lyu, KEPCO Research Institute Head Suk-cheol Kim, Doosan Heavy President & COO Yeonin Jung, NRTEC CEO Kyung-hun Nam, Daechang Solution CEO Dae-seong Kim, Korea Lost-Wax CEO Eui-suk Chung, Samjin Metal CEO Tae-ho Jeong, Unicon System CEO Koang-min Kim

▲On Sept. 23, Korean power companies and those from the industry signed a MOU on promoting growth of the standard gas turbine industry at the Grand Intercontinental Hotel in Seoul. (From the left in first row) Samjin Metal CEO Tae-ho Jeong, Daechang Solution CEO Dae-seong Kim, Doosan Heavy President & COO Yeonin Jung, NRTEC CEO Kyung-hun Nam, Korea Lost-Wax CEO Eui-suk Chung, Unicon System CEO Koang-min Kim (From the left in second row) Korea Southern Power Co. President Jeong-shik Shin, Korea Midland Power Co. President Hyeong-gu Park, KEPCO Research Institute Head Suk-cheol Kim, Korea South-East Power Co. President Hyang-reol Lyu, Korea Western Power Co. President Byeong-sook Kim, Korea East-West Power Co. President Il-jun Park