Samsung E&A, Korea Gas Safety Corporation Join Hands to Target Overseas Aging Plant Refurbishment Market

Cooperation on Plant Diagnostic Technology and Overseas Projects

Samsung E&A is joining forces with Korea Gas Safety Corporation to make a full-scale entry into the rapidly growing global market for repairing aging plants.

Namgung Hong, president and CEO of SAMSUNG E&A (left), and Park Gyeongguk, president of the Korea Gas Safety Corporation, pose for a commemorative photo at the signing ceremony for a memorandum of understanding (MOU) to strengthen cooperation in plant diagnostic technology and overseas projects, held on the 8th at the Global Engineering Center (GEC) in Sangil-dong, Gangdong-gu, Seoul. SAMSUNG E&A

Samsung E&A announced on October 12 that it had signed a memorandum of understanding (MOU) with Korea Gas Safety Corporation to strengthen cooperation on plant diagnostic technology and overseas projects. The signing ceremony, held on October 8 at the Global Engineering Center (GEC) in Sangil-dong, Gangdong-gu, Seoul, was attended by senior executives from both companies, including Samsung E&A President and CEO Namgung Hong and Korea Gas Safety Corporation President Park Kyung-kook.

Under the agreement, the two companies will establish a partnership covering plant safety diagnostics and all areas of EPC (engineering, procurement and construction). Samsung E&A will contribute its experience in executing large-scale plant projects in Korea and abroad, as well as its strong partnerships with major national oil companies. Korea Gas Safety Corporation will provide its unique comprehensive plant diagnostic infrastructure and safety technology expertise.

The companies further refined their partnership through this MOU, following the signing of a letter of intent (LOI) on cooperation in diagnostics last November. Specifically, they will work together across a broad range of areas, including identifying opportunities at aging plants and developing projects; third-party technical verification of fitness for service and equipment lifespan; safety inspection support, including phased array ultrasonic testing (PAUT); and sharing operational experience and expertise.

Samsung E&A and Korea Gas Safety Corporation plan to target the overseas market for diagnostics and refurbishment of aging plants through their collaboration. They aim to identify opportunities at aging plants operated by major overseas clients, conduct detailed safety diagnostics, propose refurbishment work, and carry out the refurbishment projects.

A Samsung E&A official said, "This collaboration will be an outstanding example of public-private partnership in the plant sector, bringing together a global EPC leader and a leading safety diagnostics company. We will actively pursue the market for modernizing aging plants through close cooperation and opportunity identification."

A Korea Gas Safety Corporation official said, "This agreement has laid the groundwork for applying Korea's safety diagnostic technology at overseas plant sites in earnest. As a public institution dedicated to protecting public safety, we will contribute to safe plant operations at overseas sites as well."

This content was produced with the assistance of AI translation services.