Korea Electric Engineers Association (Chairman: Choi Kwang-ju) and Korea Trade Investment Promotion Agency (President: Cho Hwan-eik) have announced that they are holding 2009 Global Electric Power Tech at COEX in Seoul from May 20 to 22. This Global Power Tech has been held for the last six years in line with the policy of electric power globalization of the Ministry of Knowledge Economy. More than 20 organizations including Korea Electric Power Corporation and major domestic electric power generation companies are participating in this event as supporting organizations in an effort to lay a foundation for export infrastructure and to step up launching into overseas markets. About 280 companies at home and abroad (including 20 countries) are scheduled to participate in the exhibition. Korea Trade Investment Promotion Agency (KOTRA) has already invited 200 organizations from 50 countries including large place ordering organizations, Engineering Procurement Construction (EPC), and major importers. India's Essar Power, both South Africa's and Israel's electric power corporations are participating successively since last year. Among the domestic organizations are Korea Electric Power Corporation, Hyundai Heavy Industries, many electric power generation companies, and plant engineering companies along with local government of Kyeongnam Province.
To make this exhibition successful, the government, Association, KOTRA, and electric power industry circles are joining hands and also are building a successful model for export promotion of power plants, related equipment, and materials. The Korea Electric Engineers Association has a large membership of 1,700 companies and one million businessmen. KOTRA has 95 Korea business centers all over the world.
Meanwhile, the domestic electric power market is expected to reach a saturation point in 2010, and after that a low growth rate of 1.4% is forecasted. For this reason, many efforts to lay a foundation for power exporting are badly needed. The Global financial crisis stemming from the subprime mortgage of the USA is bringing global economic depression to all the world. In spite of low oil prices and raw materials prices, overseas demand is continuing to be weak, thus bringing difficulties to the exporting companies. Fortunately, however, the power industry, as a key industry of a nation, needs a large investment from the midand long-term perspective. Because of this, many nations are trying to promote their power industry for their economic stimulus. In 2006, the power generation of 18.2 trillion kWh is expected to reach 20.8 trillion kWh in 2011, thus showing an average annual growth of 4.3%. Furthermore, in order to reduce carbon dioxide emissions in accordance with Kyoto Protocol, demands on new energy and technology development are expected to be steadily increasing.
In particular, according to the questionnaire survey, domestic exporting companies are making plans to explore South East Asia, Middle East Asia, Africa, and Central America, and also are asking for government support in exporting to these areas. In Middle East Asia, demand on electric power is expected to increase more than 10% until 2010, and a huge amount of oil money is to be invested in the establishment of power infrastructure in this area. Both the USA and Canada have large-scale plans to replace obsolete facilities and expansion projects for power networks.
