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2 clusters · 4 sources · 1 days · First seen 4 days ago · Last updated 3 days ago

South Korean energy infrastructure and technology expansion

Overview

South Korean industrial firms are expanding energy infrastructure and production capabilities to meet rising electricity demands.

Hyundai Engineering has been named the preferred bidder for two major power plant projects totaling approximately 2.4 trillion won. These include the 1,050MW Yongin Cogeneration Power Plant, intended to support a semiconductor cluster, and the 500MW Shin-Honam Combined Cycle Power Plant. Both projects are designed with potential future transitions to hydrogen energy.

Concurrently, HD Hyundai Heavy Industries announced an investment of over 1 trillion KRW to expand production for land-based power engines and Small Modular Reactors (SMR). This investment aims to address electricity demand driven by AI data centers. The company plans to establish a 3GW engine production base in Ulsan and build a dedicated factory for SMR component manufacturing.

Entities

HD Hyundai Heavy Industries · SK Innovation E&S · Korea East-West Power · Hyundai Engineering · Ulsan

Timeline

3 days ago

[BUSINESS] 2 sources
HD Hyundai Heavy Industries to invest 1 trillion KRW in power engines and SMRs
HD Hyundai Heavy Industries is investing 1.07 trillion KRW in Ulsan to expand power engine and SMR production to meet rising AI data center electricity demands.
4 days ago

[BUSINESS] 2 sources
Hyundai Engineering wins 2.4 trillion won power plant contracts
Hyundai Engineering secured preferred bidder status for two South Korean power plant projects in Yongin and Yeosu, worth 2.4 trillion won, to support industrial energy needs.

Sources

biz.heraldcorp.com · imaeil.com · namdonews.com · socialvalue.kr