Power Companies Rush to Localize Power Equipment & Parts Imports in Response to Japanese Export Curbs
Explore localization item candidates and conduct joint R&D activities in cooperation with SMEs
President Park Il-joon of Korea East-West Power (EWP) gestures with President Chung Hyung-ho of Turbo Power Tech and other officials of the two companies in a group photo session as he toured Turbo Power Tech to discuss ways of selling a localized technology on the Korean market and how to flesh out second and third localization plans on Aug. 8. (Photo: EWP)
Japan’s export curbs on Korea have prompted Korean power companies to find a way to provide support to their joint R&D efforts to localize power facilities.
President Park Il-joon of Korea East-West Power (EWP) toured Turbo Power Tech on Aug.
9, which has succeeded in localizing Japanese power parts imports, and discussed ways of selling them on the Korean market and how to flesh out second and third localization plans.
Turbo Power Tech chalked up 4.34 billion won in sales on the back of localizing Japanese gas turbine parts imports in cooperation with EWP.
Taking advantage of its track record of supplying parts in Korea, Turbo Power Tech delivered parts worth $13.89 million (16 billion won) to countries like the United States, Japan and the Southeast Asia last year.
EWP is hosting a contest on technology development tasks designed to localize raw materials and parts for power facilities.
The contest is designed to take stock of imported power facility equipment, components and parts in the wake of Japan’s export curbs to Korea and seek the localization of 338 items, which are considered difficult to replace.
The power company posted on its website new information on imported power equipment, components and parts the power company’s power generation complexes currently use and it plans to continue to explore companies seeking to localize imports.
Korea Southern Power (KOSPO) convened an emergency meeting on Aug. 8 to discuss ways of localizing imported power equipment, components and parts, expanding the use of Korean-made items and diversifying imports.
KOSPO plans to contribute to helping Korean companies secure technology self-sufficiency by focusing on localizing imported power equipment, components and parts while aggressively striving to reinvigorate the national economy and create jobs.
The power company is seeking to conduct joint R&D activities for localizing imports with SMEs and help them secure sale points.
In March 2018, Korea Western Power (KOWEPO) inaugurated a department in charge of localizing imports.
The power is translating into action a mid- and long-term localization roadmap it has established. Under the plan, KOWEPO designated about 6,500 candidate items for localization after comprehensively analyzing things such as power market and core technology trends and localization demand.
The power company is implementing a project to localize imported power equipment, components and parts and secure proprietary technologies. KOWEPO created a localization committee.
Since the mid- and long-term localization roadmap was established, KOWEPO has completed the localization of 81 cases like core parts for steam turbine coal pulverizer and combined cycle power filters.
The localization has earned KOWEPO 7.39 billion won in an effect of substituting imports.
President Park Hyung-koo of Korea Midland Power (KOMIPO) presided over a meeting to take stock of the current situation, caused by Japan’s export curbs to Korea and discussed ways of coping with them. KOMIPO secured a list of Japanese-made power equipment, components and parts susceptible to Japan’s export curbs.
The power company said it seeks to secure additional stockpiles while striving to diversify suppliers and develop alternative products.