Woori Technology Expands Contract for Shinori 5·6 Nuclear Power Plant Measurement Systems... "Profitability Improvement"

[Asia Economy Reporter Yoo Hyun-seok] Woori Technology announced on the 6th that it has signed a contract to supply an equipment measurement system worth 4.7 billion KRW related to Shin-Kori Units 5 and 6 nuclear power plants with Doosan Heavy Industries & Construction. This supply contract is the second contract following the approximately 2.3 billion KRW order secured on the 4th for the supply of Diversity Protection System (DPS) for Shin-Kori and Shin-Wolsong Units 1 and 2.

Woori Technology, the only domestic company engaged in nuclear power plant measurement and control system business, supplied equipment measurement systems to Shin-Kori Units 5 and 6 over two years from 2015 to 2016. This order is an additional supply contract for the measurement system previously supplied, so without separate R&D expenses, not only external growth but also a significant expansion in profitability is expected.

A Woori Technology official said, “By securing consecutive orders for equipment measurement systems, the nuclear power plant business performance has been improving since the first half of the year,” adding, “Based on the expansion of orders in the future, the nuclear power plant business performance is expected to grow significantly this year, which will greatly contribute to the increase in operating profit.”

He added, “The nuclear power, railway, and defense industries, which are Woori Technology’s core businesses, are industries hardly affected by COVID-19, so stable performance is expected this year as well.”

The Nuclear Safety and Security Commission held its 115th meeting on the 14th of last month and deliberated and approved the construction change permit application for Shin-Kori Units 5 and 6 submitted by Korea Hydro & Nuclear Power. The change plan is to modify the equipment layout (R&D) in the preliminary safety analysis report for Shin-Kori Units 5 and 6, including changes to the walls of the main control room computer room, air conditioning room, and equipment instrument room. In addition, based on its independent measurement and control technology, Woori Technology is focusing on entering overseas nuclear power markets such as the Middle East, the Czech Republic, and Turkey beyond Korea.

A company official explained, “Recently, the government invited ambassadors from about 10 countries including the Middle East, Eastern Europe, and ASEAN countries, where nuclear power projects are underway, directly to our nuclear power plants to emphasize the safety of domestic nuclear power technology and launched full-scale ‘nuclear power sales,’” adding, “With the operation permit for UAE Barakah Unit 1 signaling the first step in exporting domestic nuclear power overseas, the nuclear industry is putting all efforts into securing nuclear power orders following Barakah in the Middle East, the European Union (EU), the Czech Republic, and others.”

He added, “In particular, it is expected that the supply of Woori Technology’s safety management system and operation control system to the Egyptian nuclear power plant, which Korea Hydro & Nuclear Power is focusing on, will become visible.”

This content was produced with the assistance of AI translation services.