There will be another eye-catching trade show to be held in Seoul in late May -- Global Electric Power Tech 2009. The electrical trade show will draw the attention of world buyers and Korean businesspeople alike. About 200 potential global buyers from some 50 countries around the world have been invited to take a look at this year's international trade show of electric IT, machinery and equipment. Some 280 electric power firms from approximately 20 countries will display their equipment, machinery and power systems at the exhibition halls.
Choi Kwang-ju, president of the Korea Electric Engineers Association, the coorganizer of this year's trade show, said: “Through the upcoming trade show, we'll lay the foundation for the exchange of information on state of the art technologies and marketing, so that Korea's electric power industry can develop as a competitive exporting industry in the global market. We'll do our best to turn the event into an opportunity for Korean enterprises to expand exports.”
The organizers expect that this year's electrical trade show will attract about 25,000 visitors during the exhibition period. Global Electric Power Tech 2009 will be held at Exhibition Halls 5, 6, 7 and 8 in the Atlantic Hall of COEX at Samseong Subway Station in southern Seoul from May 20, Wednesday until the 22nd.
The 2009 event will present visitors and potential buyers with information on various kinds of electric machinery, equipment and systems, electric IT facilities and systems, electric power network systems, electric control and management systems, industrial lighting systems, power generation facilities, power transmission equipment, and renewable energy equipment and systems. The show is designed to lay the foundation for the development and rejuvenation of Korea's electric and power plant industry, to develop new electric technologies and facilities, and to expand domestic consumption base and find new overseas markets.
This year's electrical trade show, the seventh of its kind, is organized by the Korea Electric Engineers Association and the Korea Trade-Investment Promotion Agency (KOTRA) under the joint sponsorship of 20 government and public agencies and electric power firms, such as the Ministry of Knowledge Economy and Korea Electric Power Corporation (KEPCO). The annual trade show of electric IT, heavy electric machinery and equipment, and electric power plants is part of the ministry's policy to globalize the electric power industry.
Many foreign electric power firms, including Essar Power of India, Escom of South Africa and Israel Electric Corporation, have decided to participate in the trade show for the second straight year. Korean participants include many electric and power enterprises such as KEPCO and Hyundai Heavy Industries, and public agencies such as the government of South Gyeongsang Province.
Potential buyers will arrive from about 50 countries in Asia, the Middle East, Africa, Latin America and the Commonwealth of Independent States, where there is a growing demand for electric plants, equipment and machinery. The organizers are expecting to see these buyers sign contracts worth more than US$100 billion this year for purchase of transformers, power transmission systems, and high-voltage subterranean transmission lines.
Many leading foreign companies such as Duke-Energy and Southern Company of the United States will seek their Korean partners during the trade show. Korean firms will establish ties with the Central Electricity Generating Company of Jordan, Abu Dhabi Water & Electricity Authority (ADWEA) of the UAE, and the Saudi Electricity Company (SEC) of Saudi Arabia to export to the Middle East, given that the demand for transmission equipment and facilities in the Middle East and Africa is expected to increase from US$5.84 billion in 2006 to US$7.08 billion in 2011.
Meanwhile, Korea urgently needs to lay the firm foundation for turning its electric power industry into an export-oriented one, considering that its electric power market will be saturated by 2010, record a low growth rate of a mere 1.4 percent, and then stagnate at under 1 percent after 2020. In contrast, worldwide power generation, which stood at 18.2 trillion kwh in 2006, will likely post an annual growth rate of 4.3 percent with an annual global power generation capacity reaching 20.8 trillion kwh in 2011.
Under these circumstances, the annual Global Power Tech show has won international recognition. Arun K. Srivastava, CEO & managing director of Essar Power of India, has said in his recent letter to Global Power Tech organizers: “Global Power Tech seems to be better than Power-Gen International in both qualitative and quantitative terms.” Power-Gen International is the world's largest power generation trade show. He sent the letter after visiting the Global Electric Power Tech 2008 trade show.
