Gyeongnam Home to Cluster of Doosan Enerbility, Hyosung Heavy Industries Suppliers 10 Related SMEs Join North American Export Roadshow
With the spread of artificial intelligence (AI) fueling a surge in demand for expanded power and energy infrastructure, Korean companies in the sector have launched efforts to penetrate the North American market in the United States and Canada.
KOTRA (Korea Trade-Investment Promotion Agency) and South Gyeongsang Province said Monday that they held the "Gyeongnam Energy and Power Equipment North American Export Roadshow" from the 16th through the 19th in Houston in the United States and Toronto in Canada, with 10 small and medium-sized enterprises (SMEs) based in the province and Korea Hydro & Nuclear Power participating.
A Korea Pavilion was operated at the "Energy Project Expo (EPC SHOW)," a comprehensive energy exhibition and conference held over two days starting the 16th in Houston. At the event, which drew some 7,000 officials from global energy companies including Bechtel, Fluor, and GE, the Korean companies held export consultations with a total of about 400 firms, including buyers pre-matched by KOTRA. Korea Hydro & Nuclear Power also promoted K-nuclear technology on site and supported the SMEs' marketing efforts.
At an export consultation meeting held subsequently in Toronto, Canada, on the 19th, major local energy companies including Hatch and Candu Energy attended. The Korean companies conducted pre-arranged B2B consultations, while discussing cooperation measures from various angles through briefing sessions on Canada's engineering, procurement and construction (EPC) and nuclear industry opportunities, as well as open networking sessions.
The roadshow was arranged to expand exports by companies in the Gyeongnam region, where power and energy SMEs such as suppliers of Doosan Enerbility (034020.KS) and Hyosung Heavy Industries (298040.KS) are concentrated. The Korean delegation consisted of companies producing specialized energy and power equipment and facilities such as power plant cranes, pump modules, explosion-proof cables, and turbine blades, directly targeting the energy transition demand in the North American market.
According to KOTRA, the United States and Canada currently face an urgent need for power grid expansion and modernization measures driven by the spread of AI. The U.S. Department of Energy (DOE) plans to invest 1.9 billion dollars in national power grid modernization over four years starting in 2027, while the Canadian government also plans to double its national power grid from current levels and add 140 to 190 GW of low-carbon power generation facilities by 2050.
"Power and energy equipment and related products, including nuclear power and transmission and distribution, are items in high demand in both the United States and Canada, and there is significant room for our companies, which have high reliability in terms of price and delivery, to enter the market," KOTRA President Kang Kyung-sung said. "Together with local governments, KOTRA will do its best to help companies in region-specialized industries open export markets in line with overseas local demand."
Original reporting by Song Joo-hee for Seoul Economic Daily.
AI-translated from Korean. Quotes from foreign sources are based on Korean-language reports and may not reflect exact original wording.
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