Press Release

Doosan Enerbility is setting out to strengthen the Korean domestic supply chain for gas turbines, as a means of proactively responding to the rapidly growing demand for gas turbines in the global market.

Doosan Enerbility announced on April 24th that it had signed a memorandum of understanding(MOU) with HD Hyundai Marine Engine on the development of precision casting manufacturing technology for gas turbines and a contract for the development of prototype blade* materials.
* Blade: rotating airfoils that are connected to a gas turbine’s central axis (rotor)

In attendance at the signing ceremony which was held that day at Doosan Enerbility’s Changwon headquarters were key figures from both parties, including Seungwoo Sohn, CEO of Doosan Enerbility’s Power Services Business Group, and Young Kang, CEO of HD Hyundai Marine Engine.

Under the terms of this MOU, Doosan Enerbility will be taking on the design and quality assessment of the gas turbine blade, while HD Hyundai Marine Engine will be responsible for the manufacturing of the precision casting materials for the turbine blade. With the signing of the contract for the prototype development this time, Doosan aims to increase the percentage of locally-procured gas turbine parts via Korean local suppliers.  This is being taken as a preemptive move to respond to the rising global demand for gas turbines.

According to industry sources, the global gas turbine market, which was valued to be worth USD 18.7 billion last year, is forecast to grow to the size of USD 22.7 billion by 2031.

”To respond effectively to the rapidly growing global demand for gas turbines, it is a must for us to strengthen the domestic supply chain for gas turbines,” said Seungwoo Sohn, CEO of Doosan Enerbility’s Power Services BG.  “We aim to expand the domestic supply chain for gas turbines by leveraging the technological skills and know-how that we acquired over the years through power plant gas turbine projects.”

▲ Seungwoo Sohn, CEO of Doosan Enerbility’s Power Services BG (on the left), and Young Kang, CEO of HD Hyundai Marine Engine, pose for a photo at the MOU signing ceremony for development of gas turbine precision casting manufacturing technology which was held at Doosan Enerbility’s Changwon headquarters on April 24.

▲ Seungwoo Sohn, CEO of Doosan Enerbility’s Power Services BG (8th from the left), and Young Kang, CEO of HD Hyundai Marine Engine (9th from the left), pose for a group photo at the MOU signing ceremony on development of gas turbine precision casting manufacturing technology, which was held at Doosan Enerbility’s Changwon headquarters on April 24.