Daewoo Engineering & Construction announced on the 17th that CEO Kim Bo-hyun and key management visited Japan from the 12th to the 17th to strengthen cooperative ties with local EPC companies and discuss plans to expand global business.

This visit focused on expanding partnerships with Japanese companies that have collaborated with Daewoo E&C in the LNG and plant sectors. Daewoo E&C has continued cooperative relationships by jointly carrying out major projects with Toyo Engineering, Chiyoda, and JGC Corporation.

With Toyo Engineering, it jointly executed a fertilizer plant project in Nigeria, while with Chiyoda it accumulated experience through collaboration on multiple liquefied natural gas projects, including Sakhalin LNG and Papua New Guinea LNG. It has also cooperated with JGC on projects such as Yemen LNG storage tanks and the Saudi Jazan refinery project.

On the back of this visit, Daewoo E&C decided to expand the scope of cooperation beyond LNG to include the wider plant sector such as ammonia, fertilizers, and petrochemicals, and to pursue the joint development of business opportunities in the global market. The company also discussed the potential for cooperation in post-war reconstruction projects in the Middle East, which it views as a new opportunity.

In particular, Daewoo E&C signed a memorandum of understanding (MOU) with Toyo Engineering for the joint development of new plant projects. The two companies plan to continue cooperation in various fields, including fertilizers, methanol, and clean fuels.

In addition, Daewoo E&C discussed urban development cooperation plans with Japanese real estate developer Mori Building, and explored opportunities with Itochu Corporation to develop businesses based on renewable energy and export credit agency (ECA) project finance.

CEO Kim Bo-hyun stated, “Based on the trust built with partners we have worked with so far, the company plans to enhance its competitiveness in the global energy market.”

Meanwhile, Daewoo E&C has carried out 481 overseas projects in 50 countries to date, building up a track record worth approximately USD 71 billion. Based on this cooperation, Daewoo E&C intends to expand its business foundation in the global plant and energy markets.

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