Doosan Group announced a plan on May 25 to invest a combined 5 trillion won in the coming years.
The bulk of the investments will go to ramping up the capabilities of the next-generation energy sectors, such as small modular reactors (SMRs), gas turbines, and hydrogen fuel cells, as well as exploring new businesses such as semiconductors and cooperative robots.
First of all, Doosan Group will accelerate efforts to develop SMRs, which are emerging as a pillar of the Korean-U.S. economic security alliance U.S. President Joe Biden declared during his talks with President Yoon Suk-yeol during his recent visit to Korea.
Doosan Enerbility, a flagship company of Doosan Group, formed Korean-U.S. SMR alliance by making an equity investment into NuScale Power.
A Doosan Enerbility official said NuScale and Doosan Enerbility sees a structure in which they join forces: the former responsible for development and design while the latter is charged with producing main SMR equipment.
Doosan Enerbility will launch a project to produce the main SMR equipment in the second half of 2023 and demonstrate the first SMR to be verified in Idaho.
Doosan Enerbility is seeking to participate in the production and design of the main equipment of SMR, now being developed by X-energy of the United States. Doosan Enerbility plans to aggressively invest into expanding facilities of producing main SMR equipment.
A bird’s eye-view of NuScale Power’s virtuality SMR plant. (Photos: Doosan Group)
Doosan Group plans to strengthen its presence in the gas turbine and hydrogen turbine businesses.
Doosan Enerbility has become the fifth company in the world to produce 270MW gas turbines. The company plans to expand its gas turbine capacity.
It is concentrating its focus on developing a gas turbine essential for next-generation hydrogen power plants on its own.
Doosan Enerbility’s localization of gas turbine and hydrogen turbine parts stands at more than 90 percent.
The company strives to build a turbine ecosystem with 340 Korean cooperative companies through the localization.
Doosan Group, boasting of a track record of commercializing hydrogen fuel cells as soon as possible, plans to diversify hydrogen fuel cell applications.
Doosan Fuel Cell plans to enter the business of hydrogen fuel cells for power generation in 2024, and the business of hydrogen fuel cells for ships in 2025, and launch a project to develop hydrogen fuel cells for hydrogen-powered buses.
Doosan Corp. has entered the semiconductor business by acquiring TESNA, the nation’s No. 1 chip testing company.
TESNA is a company specializing in testing system semiconductor products such as application processors (AP), dubbed the “brain of mobile phones,” camera image sensors (CIS), and wireless communication chips (RF).
It has the highest competitiveness among companies of the same type in Korea and holds the biggest market share in wafer tests.
Doosan Group has a strategy to nurture TESNA into a chip back-end process company after securing advanced packaging technologies in a mid- and long-term perspective.
Doosan Group plans to concentrate on new businesses, such as cooperative robots, hydrogen drones, advanced materials for storing drugs, and 5G antenna materials.
A Doosan Group official said, “The new investments will not only increase direct employment, but also will have an effect of indirect employment by building an ecosystem with cooperative companies.”
Doosan Group will contribute to expanding jobs through aggressive investments, the official added.
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