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Business news briefs of the month

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Business news briefs of the month

Sejong City
Government Building 2-2 Section Gets Use Approval

The Sejong City Government Building 2-2 section constructed by Daelim beginning November 2011 received use approval on December 6, 2013. The government building is an office facility with total area of 127,784m2 consisting of 1 basement and 7 floors aboveground. The building is a grade 1 energy efficiency structure using geothermal and solar energy. Eco-environmental materials were used, with the sick building syndrome minimized through bake-out application.

With the 2nd-phase construction of the Sejong City Government Building completed, full-swing moving-in kicked off on December 13, 2013. The Ministry of Education, Ministry of Culture, Sports, and Tourism, Ministry of Trade, Industry, and Energy, Ministry of Health and Welfare, and Ministry of Employment and Labor will move into the government building, and some 4,900 public officials will start working in Sejong City.

Hyundai Heavy
Industries and Sidem win US$1.4 Billion project in Kuwait

Hyundai Heavy Industries (HHI), the world’s biggest shipbuilder and a leading industrial plant contractor, and Sidem, a subsidiary of Veolia Water Solutions & Technologies, announced the signing of a USD 1.4 billion EPC contract with SHAMAL AZ-ZOUR AL-OULAon December 12 to build the first phase of the Az-Zour North Independent Water and Power Project (IWPP).

HHI, as the EPC consortium lead, will carry out the construction of the gas-fired 1,500 MW combined cycle power plant. Sidem, as EPC consortium partner, will construct a 107 MIGD (486,000m3/day) desalination water plant on a turnkey basis. The capacity of Az-Zour North will account for around 10% of Kuwait’s installed power generation capacity and around 20% of its installed desalination capacity.

The consortium will complete the project approximately 100 km south of Kuwait City in the fourth quarter of 2016. Kuwait’s Ministry of Electricity and Water (MEW) will be the off-taker of power and water produced from the project under a 40 year long term Energy Conversion and Water Purchase Agreement (ECWPA). The project is the first independent water and power project in Kuwait developed as part of long-term expansion plans of the power and water production capacity in Kuwait and a pathfinder scheme for Kuwait’s public-private partnership (PPP) programme.

As EPC partners, HHI and Sidem have been participating in the development process together with the consortium formed by GDF SUEZ, Sumitomo Corporation and Abudlah Hamad Al Sagar & Brothers, since March 2011. Competition among developers from Europe, Japan, Korea and the Middle East was tough. A positive evaluation of HHI by the Kuwaiti Ministry might have benefited the award as HHI handed over Kuwait’s previous Sabiya Combined Cycle Power Plant far earlier than the required schedule, which enabled MEW to meet the challenging electricity demand during the summer peak load period of 2011.

Mr. Chun In-soo, COO of HHI’s Industrial Plant & Engineering Division said, “HHI, GDF SUEZ, and Sidem have worked together on a wide range of projects in the Middle East. The synergy of our alliance will ensure this project is completed in time and on budget.”

Buoyed by continued high oil revenues and rapid growth of the economy and the population, it is expected that large water and power projects will be steadfastly developed in the Middle East. Thanks to the success in the first IWPP in Kuwait, HHI would be in good position in the successive bid of Az-Zour North IWPP phase 2.

2,000MW Sabiya Combined Cycle Power Plant Hyundai Heavy Completed in Kuwait in 2011

Spreading QSS in-
novation activities to small- and medium-sized companies

- Held launching ceremony with the Korea Federation of Small and Medium Business ... Support strengthening competitiveness including talent fostering, efficiency management, and environment management.

POSCO is proactively leading activities to increase productivity of small- and medium-sized companies

On December 6th, POSCO and the Korea Federation of Small and Medium Business hosted the ?aunching ceremony for QSS innovation activities to make living manufacturing sites?at Top Metal, located in the Namdong Industrial Complex in Incheon.

The ceremony was a result of the ?OSCO-Korea Federation of Small and Medium Business Agreement to Spread QSS Innovation Activities,` with the aim of expanding POSCO`s small and medium company innovation activity support from those involved in businesses with POSCO in the Pohang and Gwangyang regions to all 450 companies nationwide.

Seventy people attended the event, including Chairman Kim Ki-mun of the Korea Federation of Small and Medium Business, CEO Chung Joonyang, as well as presidents and employees of small- and medium-sized companies participating in QSS innovation activities.

POSCO will provide overall management support from forming an innovation culture to talent fostering, efficiency management, and environment management to the small- and medium-sized companies participating in the QSS innovation activities.

The first priority will be to settle 5S (arrangement, order, cleaning, cleanliness, habituation) activities to eliminate sources of pollution and maintain a clean working environment. Daily inspection sheets will be utilized for systematic equipment inspection such as cleaning, tightening, and lubricating facilities, and maintaining the most optimal conditions through `management through the eyes` activities. Material management efficiency will be maintained by adhering to fixed products, fixed quantities, and fixed locations, and preventing 'Time wasted from searching,' while safety accident prevention will be guided through facility improvement and education.

Top Metal, where the event was held, has received QSS activity support from POSCO since last year, and since introducing QSS activities has seen great management results including reduced product manufacturing time, cost reduction, and improved quality and productivity.

Participants heard Top Metal's innovation activity results and learned innovation know-how by benchmarking real on-site cases, and developed a desire to improve productivity and secure competitiveness through QSS activities.

CEO Chung Joonyang commented, "In an era of increasingly intense and infinite competition, our small and medium companies must become stronger to survive, and to survive we must become accustomed to change and improvement. The QSS activities POSCO is supporting will become the base for small and medium companies to grow innovation capabilities and become stronger."

POSCO and the Korea Federation of Small and Medium Business will start with support of 50 companies this year and extend it to an additional 100 companies each subsequent year, with plans to support a total of 450 small and medium companies by 2017 and help strengthen their competitiveness and continuous growth.

S-OIL Science Prodigy and Culture

Foundation Confers Dissertation of the Year Awards

- S-OIL offers 130 mil. won in fellowships to four young scientists in physics and chemistry fields.
- The S-OIL Science Prodigy and Culture Foundation offers programs to support academic research and foster scientific talent.

The S-OIL Science Prodigy and Culture Foundation (SSPCF; Chairman: Oh Myung), a non-profit foundation established by S-OIL (CEO: Nasser Al-Mahasher), said on Dec. 2 that it held a ceremony for the 3rd Dissertation of the Year Awards at The Plaza hotel in Jung-gu, Seoul and gave 130 mil. won in fellowships to four award winners in the categories of physics and chemistry.

The Dissertation of the Year Awards was established in 2011 in order to support five basic science fields; physics, chemistry, mathematics, biology and earth science. The SSPCF selects outstanding researchers on the recommendation of the Korean Academy of Science and Technology and Korean University Presidents Association and offers fellowships.

By category, Park Jung-sik (31; Seoul National University), who observed the transformation of neutrino (elementary particle) created in nuclear reactors, won the award in the category of physics. The chemistry award went to Lim Chang-soo (32; Korea University), who conducted research on two-photon tracers (new material developed for in vivo imaging). The SSPCF gave 50 mil. won each to the two award winners. Also, Park Ji-sang (28; KAIST) and Chung Hyo-sung (30; Korea University) were named encouragement award winners in the category of physics and chemistry respectively and won 15 mil. won each.

“These young scientists who gained worldwide recognition for publishing excellent dissertations in basic science fields with academic passion and perseverance will be the force that propels Korea forward,“ said an official of the foundation. “The SSPCF will continue to make active efforts to expand support to help those scientists dedicate themselves fully to their research.”

In addition to the Dissertation of the Year Awards, the SSPCF runs various programs such as the Leading Scientist of the Year Fellowship, the Science Prodigy Academy, and transfer of technology to scientists from developing countries in order to support research and foster scientific talent. In particular, in the Science Prodigy Academy, which opened from September of this year, veteran scientists give science education and mentoring to gifted elementary school students. In the school, students communicate regularly with mentors until they enter university and cultivate creativity and scientific thinking.

Hyundai Motor CIS Wins “Company of the Year 2013”

Award in Russia

Hyundai Motor CIS, Hyundai Motor’s subsidiary in Russia, received the national honor of “Company of the Year 2013” in the “Automotive Industry” category on Dec. 11 in an award ceremony, annually organized by RBC Holding, the holding company of RBC group which is one of the largest media groups in Russia, with support of the Russian Federation’s Chamber of Commerce.

The goal of the prestigious “Company of the Year” national award, founded in 1999, is to bring to attention of the Russian public and the international business community the activities of companies operating in the Russian market and to facilitate the strengthening of the economy as well as the welfare of the population.

Hyundai Motor CIS has operated in the Russian market for six years and is one of the leaders in sales in the Russian automotive market with more than 760,000 Hyundai cars sold.

Solaris, Hyundai Motor’s exclusive model for Russia, became a bestseller in the first month of its sales in the Russian market, achieving more than 300,000 cars sold in Russia over 33 months.

In addition to Hyundai Motor CIS’s impressive sales performance, the award also recognizes the company’s social responsibility as well as its efforts to become the most loved brand in Russia.

Hyundai Motor CIS is actively involved in Russian society, implementing various projects throughout the region as part of a global social initiative program called “Change the World Together!”

KOLAS accredits KEPCO NF as a Fuel Testing Lab.

The company developed its own test methods for the nuclear fuel leading to intensified Quality Assurance

KEPCO NF (Acting CEO Park Chul-joo) announced on December 16 that the company obtained accreditation from KOLAS (Korea Laboratory Accreditation Scheme) to be a national certified testing laboratory for Testing Pressure Drop on Nuclear Fuel.

The R & D center of KEPCO NF, which has been dedicated to testing fuel products while developing various nuclear fuels, applied for the accreditation to ensure that the company is competent enough to perform testing in accordance with all of strictly required standards in nuclear industry. The pressure drop testing on nuclear fuel needs to be precisely performed since the fuel pressure drop is the main operational nuclear reactor variable. KEPCO NF is expected to secure public confidence in its preliminary testing reports on validation of new fuel designs as it is recognized with its own testing standards as a national certified testing laboratory.

Accreditation of national certified testing laboratory is to officially present one’s competency for a certain area based on comprehensive techniques such as testing equipment and methods against national and international test standards. It is known that KEPCO NF is successfully accredited for the testing with its own standards, for the first time in mechanics, showing its superior performance and reliability, and also meaning that the company is ready to go on developing same quality testing standards accredited on other areas as well besides the pressure drop to build public trust in nuclear power.

KEPCO NF has been serving as an accredited National Calibration Laboratory since 2001 and now expects, accelerated by this new accreditation, to secure more transparency in the field of testing related to nuclear energy, and also to enhance the quality assurance accordingly.

Holding of Communicating Stage

with Personnel on Weolseong/Gori Sites

KEPCO E&C held a communicating stage between its CEO and field personnel on Weolseong/Gori sites on November 27 2013.

After being briefed of manpower and project status, key implementation matters and other issues by Nam-gon Kim, Weolseong Site Manager, KEPCO E&C CEO Koo-woun Park congratulated and encouraged the employees. At the following dialog with employees, Mr. Park showed the keen attention to settlement condition and emphasized the need for experience of various duties as well as the pursuit for changes and continued training.

He then visited Cheong-gu Lee, Director of Weolseong Nuclear Power Plant then discussed the main issues concerning the continued operation of Weolseong Unit 1 and agreed that both parties needed to cooperate closely to ensure seamless reoperation of Shinweolseong Units 1 & 2.

In the afternoon, Mr. Park visited the Gori site and was guided by the site manager Myeong-guen Chang to stop by the Gori Observation Deck and be briefed of Gori Units 1~4 and Shingori Unit 1~4 as well as the expected site of Units 5 & 6. Mr. Park was then given a report of the site status and held the communicating stage with the site employees.

Mr. Park again emphasized the need for experiencing various duties as well as full understanding of basic technology and being faithful to personal life. He also implied that measures to boost morale of employees carrying out duties under the difficult field environment be encouraged and the employees working on site.

He then visited Young-il Lee, Director of Gori Nuclear Power Plant and exchanged the recent key issues and concerns of nuclear energy. He also met with Gori Units 1 & 2 power plant manager, Shingori Units 1 & 2 power plant manager and Shingori Unit 2 construction manager as well as the plant director to discuss the current nuclear power plant operations status and concerns of Shingori Units 3 & 4 construction.

Mr. Park’s visit to field sites was on opportunity for the company to realize the importance of field management activities based on the fact that technical support of the project owner is more important than anything considering the recent crisis of the nuclear power industry and emergency power supply stituation in the winter season. k

이경식 기자  edt@koreapost.com

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