Daewoo E&C and SK Ecoplant Join Forces in Domestic and International Nuclear Power and Plant Projects

Daewoo E&C and SK Ecoplant have joined hands to jointly enter the domestic and international nuclear power and plant markets. They plan to secure a leading position in the nuclear power market starting with the bid for the main equipment construction of Shin Hanul Nuclear Power Units 3 and 4.

President Baek Jeong-wan of Daewoo E&C and President Park Kyung-il of SK Ecoplant

Daewoo E&C announced on the 27th that it signed a Memorandum of Understanding (MOU) for 'Cooperation in Nuclear Power and Plant Business' with SK Ecoplant at Daewoo E&C headquarters in Euljiro, Jung-gu, Seoul on the 26th. The MOU signing ceremony was attended by Daewoo E&C President Baek Jeong-wan, SK Ecoplant President Park Kyung-il, and officials from both companies, who agreed to cooperate across all areas of domestic and international nuclear power and plant businesses.

According to this MOU, the two companies will exchange technology and personnel and, when necessary, form a joint consultative body to explore ways to jointly enter the domestic and international nuclear power and plant business sectors. They also plan to establish a cooperative system in future energy business areas such as hydrogen.

Daewoo E&C is regarded as the only domestic company possessing a total solution in the nuclear power field. Having participated as a representative company in commercial nuclear power plants such as Shin Wolsong Units 1 and 2, Daewoo E&C has carried out the first and second phases of the low- and intermediate-level radioactive waste disposal facility construction and holds design certification for commercial nuclear power plants, thus securing competitiveness in design, construction, and waste disposal in the nuclear power sector. Additionally, by performing the 'Wolseong Unit 1 Decommissioning and Process Design' project, it possesses a total solution covering the entire nuclear power field including nuclear power plant decommissioning, and is currently participating in Korea Hydro & Nuclear Power's Team Korea for new nuclear power projects in the Czech Republic and Poland.

SK Ecoplant has also accumulated nuclear power-related capabilities and know-how by participating in nuclear power plant construction projects such as Shin Kori Units 1 and 2, Saeul Units 1 and 2, and Shin Hanul Units 1 and 2. Furthermore, it has secured integrated solutions for green hydrogen production based on renewable energy sources such as offshore wind and solar power, thereby establishing its position as an energy company. In addition, synergy in nuclear power-linked energy fields is expected through collaboration with SK Group and its member companies. SK Inc. and SK Innovation invested approximately 300 billion KRW in TerraPower, a US SMR company, in August last year, cooperating comprehensively for the development and commercialization of next-generation nuclear power technologies. On July 4th, SK Inc. also participated as the inaugural chairman company in the 'SMR Alliance,' established to strengthen national competitiveness in SMR projects.

Amid growing concerns over the climate crisis, nuclear power as an alternative energy source is gaining attention, and market diversification is occurring with the emergence of small modular reactors (SMRs) that offer safety, economic efficiency, and flexibility in addition to large nuclear power plants. Through this MOU, the two companies plan to secure a leading position and competitiveness in the newly changing nuclear power market.

In particular, the upcoming bid for the main equipment construction of Shin Hanul Nuclear Power Units 3 and 4, which is scheduled to be issued soon, will apply the comprehensive evaluation and lowest bid system (high difficulty) special case construction method for the first time in domestic nuclear power projects. The two companies are determined to win the contract by leveraging their competitive technical proposals and a strong 'one-stop nuclear power solution' covering all areas of nuclear power.

A Daewoo E&C official said, "We expect synergy effects through the MOU with SK Ecoplant, which has abundant experience in the energy business," adding, "Especially in this bid, we will establish a close partnership with SK Ecoplant and, based on years of experience in preparing various technical proposals in the nuclear power field, secure price and technical competitiveness to definitely win the Shin Hanul Units 3 and 4 construction project."

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