Korea Electric Engineers Association (KEEA) and KOTRA will co-host the 2011 Global Electric Power Tech at COEX Hall-A in Seoul from May 18 to May 20. Around 20 companies and organizations, including KEPCO, power generation companies and Korea Smart Grid Association, will participate in the event. Also, about 280 Korean and foreign companies from 25 different countries are going to attend the global event to show off their new products.
The invitees for this upcoming event will showcase their smart grid facilities, electricity related materials, LED, and power generation and nuclear power plant facilities and other new & renewable energy-related products.
Following the government's policy, which promotes globalization and exporting for the electric power industry, the show has been approved by the Ministry of Knowledge Economy as an international exhibition. This event is expected to help domestic companies in the power generation-related industry to solidify their global bases for international trade and help them expedite their business growth on foreign soil.
Also, the Global Electronic Power Tech is the exhibition that is for globalization and export promotion of the electric power industry. For this, KEEA who is overseeing more than 1,500 member companies and over one million electricians and KOTRA with 99 Korea Business Centers around the world are working together for domestic and overseas marketing activities this time to capitalize and maximize synergy effects.
In addition, KOTRA will bring 120 promising buyers, importers and Engineering Procurement Construction (EPC) companies for the smart grid industry. With 35 countries located in Asia, the Middle East, Africa, Latin America and CIS, while smart grids and electric power plant materials are falling short in these regions.
Any foreign buyers whose past sales are over US$ 1 million will be given 120 consultation booths exclusively. This unique approach will draw more buyers around the world, so that they can become more interested in the event. The consultation booth comes with a personal translator, timeline-based support and export consultation meeting.
A number of foreign companies are taking part this time in order to buy smart grid related facilities and materials. They are, by country, Germany's Siemens, Hitachi from Japan, Sargent & Lundy of USA, Eurosolar Sistemas from Spain, Global Smart from Jordan, Myanmar Iwastani from Myanmar.
From Canada, nuclear power plant related companies such as SNC-Lavalin, BC Hydro/AECL, AECON and more are coming to join the export consultation meeting. Besides, Kenya Power & lightning Co. and Kenya Electricity Generating Co.are participating as well. Plus, other power and electricity related companies from various countries will be attending the global event.
According to an analysis report based on the rippling impacts on the economy that resulted from the Global Power Tech 2010, each South Korean company spent on average US$ 8,000 and US$ 122,578 for foreign companies. It has been reported that each domestic participant's average expense was about US$ 60 and foreign participant expenses averaged US$ 1,692. And production inducement effect was worthy of about US$ 6.3 million and the added-value inducement effect did equal about US$ 2.8 million. The total amount for economic effect was realized at approximately US$ 13.3 million in 2010.