SEOUL, KOREA - Daewoo International will supply photovoltaic materials worth US$80 million a year to China's manufacturer of solar wafers and cells. The trading company said on November 13 that it has signed a long-term contract with Shandong Dahai Group, a textile and chemical company located in  Dongying, Shandong Province, to supply Korean-made photovoltaic components worth $6-7 million a month from the end of this year.

 

Park Jung-hwan, Daewoo International vice president, said, "In order to accelerate our expansion effort in the Chinese solar power market, we will focus on the East China region in the East Coast that encompasses provinces from Shandong to Fujian in partnership with the local unit in Shanghai"

 

Beginning early this year, the largest trading company in Korea has actively nurtured global networks to expand the solar power value chain and now formed a full business portfolio ranging from photovoltaic components to solar modules. The latest contract is renewable every year and is likely to continue unless there is any serious problem.

 

Article provided by The Korea Economic Daily