KOTRA Accelerates Overseas Expansion of Nuclear Power Plant Equipment

Korea Hydro & Nuclear Power and Nuclear Power Equipment Emergency Localization Project Implementation

[Asia Economy Reporter Han Yeju] KOTRA announced on the 7th that it will carry out an urgent localization project for nuclear power plant equipment in collaboration with Korea Hydro & Nuclear Power (KHNP).

KOTRA's overseas trade offices will provide customized services to meet the overseas expansion demands of nuclear power plant equipment companies. KHNP will oversee the urgent localization project and support the costs for participating companies. The target markets have been designated up to three locations per company to rapidly increase the achievements of overseas expansion of nuclear power plant equipment.

Ten nuclear power plant equipment companies, including promising export items such as radiation monitoring equipment and automatic testing devices, are participating in this support project. The participating companies have selected six target markets: Dubai in the United Arab Emirates (UAE), Riyadh in Saudi Arabia, New York, Silicon Valley, Dallas in the United States, and Toronto in Canada. Among these, companies choosing Dubai and Riyadh, which have many cases of power equipment exports, account for 33% and 22% respectively. The services requested by participating companies vary from managing existing clients, vendor registration, contacting institutions owning power plants, supplementing weak overseas information collection capabilities, receiving quotation requests, to supporting acquisition of permits and approvals.

To export nuclear power plant equipment, it is essential to obtain relevant information in a timely manner. To this end, KOTRA is actively working to increase exports by discovering equipment demand in countries operating nuclear power plants.

Obtaining overseas certifications, maintaining vendor registration, and supplier qualifications are also essential, and support will be provided through customized overseas marketing projects. KOTRA also plans to hold an export consultation meeting for nuclear power plant equipment in November, with participation from overseas nuclear power-related companies.

Hwang Juho, President of Korea Hydro & Nuclear Power, said, "We will actively support our companies to achieve good results overseas by providing customized services for small and medium-sized nuclear power companies."

Yoo Jungyeol, President of KOTRA, emphasized, "The nuclear power industry is a representative sector where it is difficult for small and medium-sized enterprises to independently pioneer overseas markets. We will actively discover overseas demand for nuclear power plant equipment suitable for SMEs and strive to create opportunities for diverse cooperation among small and medium nuclear power equipment companies."

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