GS E&C on an Expansion
Mode in Energy Field

Works on the development of new and renewable energies

Founded in 1969, GS E&C has achieved tremendous growth in the fields of architecture, civil engineering, housing and plants. The company is now accelerating efforts to strengthen its presence in the power industry, including nuclear energy, as well as new and renewable energy fields.
Capitalizing on experiences and expertise it has acquired through the implementation of diverse power generation projects in Korea and large-scale plant projects abroad, GS E&C is putting more energy into expanding its overseas presence.
Entering the year 2006, an overseas power generation team has been established to exclusively be in charge of performing overseas power projects. The team is expected to aggressively explore the power generation markets in Southeast Asia and the Middle East.
In reality, GS E&C has a proven track record of having carried out power projects abroad. For example, the company successfully undertook a 230kV & 132kV substation and related work project in Bangladesh in 1990. GS E&C successfully carried out such TL/DL and substation projects in such countries as Thailand, the Philippines, Indonesia and Vietnam. In Vietnam, the company is setting its sights on landing power orders in connection with a planned large-scale housing development project in Ho Chi Minh City in a 1 million pyeong (3.3 million sq. meters) area.
In particular, GS E&C has been awarded with a contract on building Shin Wolsong Nuclear Units 1 & 2 along with Daewoo E&C and Samsung E&C, in what is the first one involving the construction of nuclear power plants in Korea. Its long-standing efforts to enter the nuclear energy field after obtaining the ASME certificate in 1993 has finally paid off.
GS E&C is determined to successfully carry out the ongoing Shin Wolsong Nuclear Units 1 & 2 projects by making the most use of its experiences and expertise it has acquired through the undertakings of such projects in Korea as the Ilsan Combined Cycle Power Plant Expansion Project and Taean Thermal Power Plant Units 5 & 6, and Bugok and Incheon Combined Cycle Power Plant projects.
GS E&C posted the highest level in the nation in terms of sales and the value of landed orders during last year. The company plans to focus on expanding capabilities designed to aggressively push projects in the nuclear power and other energy fields this year.
GS Group acquired LG Energy, the first Korean private-sector power producer established in 1996, late last year and renamed it to GS EPS. GS EPS runs a combined cycle power plant with a capacity of 538MW in the Asan National Industrial Complex and sells electricity. The company has already secured a site enough to build six more units in the industrial estate. GS EPS is seeking to land contracts on LNG combined cycle power plants and other units.
GS E&C has turned its attention to new and renewable energies on top of power generation. The company inked an agreement on the research and utilization of ocean energy with KHNP, KEWP and others at the Ministry of Maritime Affairs last December 19. GS E&C President Kim Kab-ryul, MOMAF Minister Oh Kuh-don, Korea Ocean Research & Development Institute President Yum Ki-dai, Korea Hydro & Nuclear Power Co., Ltd President Lee Joong-jae and Korea East-West Power Co., Ltd President Lee Yong-oh were on hand during the signing ceremony. "Tidal Energy Project of Incheon Bay"is the first research project to utilize the tidal power of Incheon Bay and Uldolmok, which will cost nearly 1.6 trillion won. Together with KHNP, GS E&C is planning on investing 11.9 billion won on the project scheduled to be completed in 2014. nw

Park Jin-kew, senior executive vice president of GS E&C