Daewoo E&C to Collaborate on New Business Initiatives with Japanese Plant Companies

by Choi Daeyul

Published 17 Apr.2026 09:40(KST)

Daewoo Engineering & Construction announced on the 17th that CEO Bo-hyun Kim and key executives recently met with the management of Japanese plant company Toyo Engineering and agreed to pursue new business initiatives together. The two companies signed a memorandum of understanding (MOU) to cooperate in various fields, including fertilizer plants, methanol, and clean fuel.

CEO Kim stated, "Toyo Engineering has been a key partner with whom we have collaborated for over a decade, particularly on the Indorama fertilizer plant project in Nigeria. We look forward to creating new business opportunities together."

The management team of Daewoo Engineering & Construction also met with local EPC companies Chiyoda and JGC and agreed to strengthen cooperation, focusing on the liquefied natural gas (LNG) sector. Daewoo Engineering & Construction has previously worked with Chiyoda on projects in Russia's Sakhalin, Papua New Guinea, and Nigeria, and with JGC in Yemen and Saudi Arabia. The company reported that it discussed expanding the scope of cooperation across the entire plant business, as well as jointly entering post-war reconstruction projects in the Middle East as new business opportunities.

In addition, Daewoo Engineering & Construction discussed urban development collaboration with Japanese real estate development company Mori Building and strengthened partnership with Itochu Corporation in the renewable energy sector. CEO Kim said, "We are focusing on Vietnam as a key strategic market and responding to the growing real estate development market and increased investment demand, alongside renewable energy. We will actively seek out a variety of business opportunities in the global market, including Southeast Asia."

From left, Eiji Hosoi, CEO of Toyo Engineering, Se-yoon Park, Head of Plant Business Division at Daewoo Construction, Eiji Sakata, Head of Business Development Marketing at Toyo Engineering, and Bo-hyun Kim, CEO of Daewoo Construction, are taking a commemorative photo after signing an MOU. Provided by Daewoo Construction.