Kolon Global Signs Business Agreement for 'Waste Incineration Plant Technology Cooperation'

Kolon Global announced on the 1st that it has signed a Memorandum of Understanding (MOU) to enhance technological competitiveness and establish a technology cooperation system in the waste incineration plant sector.

Commemorative photo of the incineration plant agreement ceremony (from left: Hwagwanjung, CEO of Neco Technology; Youngkwan Kim, CEO of Shinhan Yeolgi; Kijeong Bang, Executive Director of Kolon Global; Seonggyun Lim, Executive Director of Kolon Global; Hwangyeong Lee, CEO of M&H Solutions; Jongsang Jo, CEO of Youngwoo Sangsa). [Photo by Kolon Global]

The companies that signed the MOU with Kolon Global are four specialized firms in the incineration plant field. These include Neco Technology, which holds numerous domestic project records for small and medium-sized incinerators; M&H Solutions, the domestic distributor of Mitsubishi Heavy Industries, which has applied over 200 incineration facilities worldwide; Shinhan Heating, which has the largest domestic production record of boilers and heat-utilizing equipment for waste heat recovery processes; and Youngwoo Corporation, the domestic distributor of Japan’s Shinko Steam Turbine.

Through this MOU, Kolon Global aims to establish a cooperative system with domestic and international companies possessing excellent technology in the core processes of waste incineration plants, namely incineration and waste heat recovery processes. It expects to strengthen competitiveness in related fields through collaboration on improving technological performance and developing new technologies. Starting with the incineration plant sector, Kolon Global plans to pursue technology discovery and expand external cooperative relationships across the environmental business sector, including organic integrated bio and pyrolysis technologies in the waste field.

A Kolon Global official stated, “This MOU is significant as it establishes a win-win cooperative relationship between a major construction company and technology-specialized firms in the waste incineration plant sector,” adding, “To respond to market demand driven by changes in environmental policies and strengthened regulations, we plan to pursue various initiatives, including in-house technology development, discovering excellent technologies through technology contests, and establishing a technology cooperation system with technology-specialized companies.”

Meanwhile, Kolon Global anticipates an increase in new or expanded waste incineration treatment facilities due to the enforcement of the 2026 ban on direct landfill of municipal waste and the principle of on-site treatment. The company is expanding related businesses accordingly. In 2021, Kolon Global was awarded projects by the Korea Environment Corporation for the installation of the Seosan Resource Recovery (Incineration) Facility and the modernization of the Gimhae Resource Circulation Facility, and is currently carrying out related construction work.

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