"Green Project, Breakthrough for Korea's Overseas Orders"... KOTRA Hosts Global Project Plaza

[Asia Economy Reporter Suyeon Woo] KOTRA announced on the 24th that it will hold the ‘2021 Global Project Plaza’ from the 25th of this month to the 4th of next month. This event was prepared to respond to the carbon neutrality and low-carbon economy transition policies being promoted by countries around the world and to support the globalization of the Korean-style Green New Deal.

According to the International Renewable Energy Agency and others, countries worldwide are announcing large-scale investments and various projects aiming for carbon neutrality by 2050. In particular, the renewable energy sector is expected to see a global cumulative investment of $38 trillion from 2016 to 2050. This presents new opportunities for Korean companies to expand overseas project orders.

This event will be held through ▲Global Project Forum ▲Middle East Public-Private Partnership (PPP) Project Forum ▲Online Project Briefings ▲Online Project Consultations. KOTRA has discovered numerous projects in the renewable energy and energy efficiency sectors at this event. Additionally, a global engineering partnering consultation will be held to enhance the global competitiveness of Korean engineering companies.

KOTRA will hold the '2021 Global Project Plaza' from the 25th of this month to the 4th of next month. Domestic companies participating in the project briefing are listening to the online pre-presentation. Photo by KOTRA

At the Global Project Forum held over two days starting on the 25th, opportunities to enter overseas project markets due to the spread of the global Green New Deal will be explored. Speakers from the International Renewable Energy Agency (IRENA), International Energy Agency (IEA), and Green Climate Fund (GCF) will introduce domestic companies to ▲trends and prospects of global Green New Deal promotion ▲current status and business opportunities of global renewable energy projects ▲methods of financing green projects using GCF.

From the 26th to the 4th of next month, customized consultations will be held for 90 projects from 79 clients in 38 countries in the fields of renewable energy, energy efficiency, environment, infrastructure, and plants. In particular, global developers from the UK, the US, Australia, and others are showing high interest in cooperation with domestic companies on solar power projects.

Furthermore, to strengthen the competitiveness of domestic engineering companies and support joint entry into third countries, a global engineering partnering consultation will be held for the first time with global companies located in the UK, Denmark, Australia, including the UK-based ARUP Group.

At the Middle East Public-Private Partnership (PPP) Project Forum held on the 26th, reflecting the increase in PPP-type orders in the Middle East project market due to low oil prices and deepening fiscal deficits, the current market status and institutional systems related to Middle East PPP will be explained. Promising projects in major countries such as Saudi Arabia, the United Arab Emirates (UAE), Oman, Turkey, and Egypt will also be introduced.

Yoo Jung-yeol, President of KOTRA, said, "Countries around the world are intensifying policies for carbon neutrality and low-carbon economic transition, leading to an increase in green projects in the environmental sector," and added, "We will actively support overseas green project orders and the globalization of the Korean-style Green New Deal."

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