Jung Won-joo, Vice Chairman of Joongheung Group, Meets Kenyan President to Discuss "Development Project Cooperation"

William Ruto, President of Kenya, and Jung Won-joo, Vice Chairman of Joongheung Group (right)

Daewoo E&C announced on the 25th that Chung Won-ju, Vice Chairman of its parent company Joongheung Group, paid a courtesy visit to William Ruto, President of Kenya, and exchanged views on nuclear power generation, renewable energy, and infrastructure development projects.

During the visit of President William Ruto held on the afternoon of the 24th at Lotte Hotel Seoul in Sogong-dong, Jung-gu, Seoul, Vice Chairman Chung introduced Daewoo E&C's history and technological capabilities, especially the trust and recognition it has built in the African market.

Vice Chairman Chung said, "I hope President William Ruto's interest and support for Daewoo E&C will continue," and added, "I look forward to constructive cooperation on major projects in Kenya in the future."

President William Ruto responded, "Kenya has many opportunities for Daewoo E&C to participate not only in energy infrastructure such as renewable energy, nuclear power, and hydropower but also in public housing and medical infrastructure construction."

Daewoo E&C pioneered the African market as the first Korean company to enter the African construction market in 1977, carrying out over 280 projects worth a total of 32 billion USD. It has steadily executed projects in North African regions such as Libya, Algeria, and Morocco, and in the sub-Saharan region where Kenya is located, it is exploring new markets with bases in Nigeria and Botswana.

Kenya, which has emerged as the largest economy in East Africa, is the de facto leader of the East African Community (EAC). As of 2021, Korea's export volume to Kenya was 258 million USD, and the number of Korean companies operating there was 31, the highest among EAC countries.

Recently, Kenya has been expanding investments to become a hub for logistics and finance in Africa, promoting infrastructure development such as the establishment of renewable energy power plants with a total capacity of 10GW and the supply of more than 250,000 housing units annually. It has set the nuclear energy business as a driving force for policy implementation and is preparing a nuclear power plant project with a capacity of 4,000MW.

Meanwhile, President William Ruto, who visited Korea for the first time in 32 years as Kenya's head of state on the 22nd, held a summit with President Yoon Suk-yeol on the 23rd and discussed cooperation in energy, defense, and nuclear power.

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